A consortium of energy companies including Noble Energy (NBL) said Thursday they have discovered more natural gas at their Mary B drilling site off the coast of Ashkelon in southern Israel.

The Yam Tethys consortium, composed of Delek Drilling Ltd. Partnership (DEDR.L.TV), Avner Oil Exploration (AVNR.L.TV), Noble Energy, and a few other small companies, said about 1.9 billion cubic meters of gas was found in the site, worth an estimated $360 million.

Prior to this discovery, the consortium had not expected to find further natural gas at this site.

Yam Tethys also operates the Tamar natural gas fields under the Mediterranean Sea off Israel's northern coast.

Yam Tethys recently signed a long-term deal worth at least $11 billion to supply natural gas from the Tamar fields to the Israel Electric Company.

At 0830 GMT, shares of Delek Drilling were up 0.24 shekels, or 2.47%, at ILS9.71 ($2.62), and shares of Avner Oil were up ILS0.03, or 1.95%, at ILS1.67, in a lower Tel Aviv market.

-By Sara Toth Stub, Contributing to Dow Jones Newswires, saratoth@gmail.com
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