TSX.V: ADL

A TSX-V Listed Oil and Gas Company

Exclusively Focused on the East Mediterranean

1

Corporate Presentation January 2013

TSX.V: ADL

Forward Looking Statements

Certain statements contained in this presentation, and in certain documents incorporated by reference in

this presentation, constitute "forward-looking statements". All statements other than statements of

historical fact contained in this presentation, including, without limitation, those regarding the

Corporation's future financial position and results of operations, strategy, plans, objectives, goals and

targets, future developments in the markets where the Corporation participates or is seeking to

participate, and any statements preceded by, followed by or that include the words "believe", "expect",

"aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict",

"project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements.

These statements are not historical facts but instead represent only the Corporation's expectations,

estimates and projections regarding future events. These statements are not guarantees of future

performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore,

actual results may differ materially from what is expressed, implied or forecasted in such forward-looking

statements. Additional factors that could cause actual results, performance or achievements to differ

materially include, but are not limited to, those discussed under "Risk Factors" in the short form

prospectus to which this presentation relates. Management provides forward-looking statements because

it believes they provide useful information to readers when considering their investment objectives and

cautions readers that the information may not be appropriate for other purposes. Consequently, all of the

forward-looking statements made in this presentation are qualified by these cautionary statements and

other cautionary statements or factors contained herein, and there can be no assurance that the actual

results or developments will be realized or, even if substantially realized, that they will have the expected

consequences to, or effects on, the Corporation. These forward-looking statements are made as of the

date of this presentation and the Corporation assumes no obligation to update or revise them to reflect

subsequent information, events or circumstances or otherwise, except as required by law.

The forward-looking statements in this presentation are based on numerous assumptions regarding the

Corporation's present and future business strategies and the environment in which the Corporation will

operate in the future, including assumptions regarding expected yields, future prices, business and

operating strategies, and the Corporation's ability to operate its production facilities on a profitable basis.

Some of the risks which could affect future results and could cause results to differ materially from those

expressed in the forward-looking statements contained herein, including risks associated with the

Corporation, such as lack of revenue, risks associated with the Corporation's business, such as the

failure to obtain or maintain necessary licenses, and risks associated with the common shares of the

Corporation, such as stock market volatility.

.

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Source: USGS, Levant Basin

TSX.V: ADL

The Opportunity

East Mediterranean

• Host of two of the largest worldwide gas discoveries

of the decade

• Oil - the next resource headline story for Israel

• USGS estimates Levant Basin 122TCF gas,

1.7BBbL oil

• Noble Energy’s recent estimates on the Mesozoic

oil potential at Leviathan (gross unrisked resource)

210 MMBOE – 1.5BBOE

• Syrian Arc Commercial Production in Syria and

Egypt, associated structures form the oil trend in

Israel

• Regional demand for oil - Israel currently imports

230,000 BOPD, 100% of its demand

• International E&P Interest: Gazprom and

Woodside bidding on Leviathan

Adira Energy

• Pure & exclusive exposure to the East Med offshore

oil and gas discovery region

• Looking for oil where it has already been found

• Major working interest and operator of three

offshore licenses, 15% option in fourth offshore

license

• Leveraged interest through back in rights, royalties

& carries

• NI 51- 101 Resource Reports complete on

Gabriella, Yitzhak and Samuel licenses

• Licenses near infrastructure, near shore, and

technically routine

• Board, management and technical teams with

extensive knowledge of region and experience in

public markets

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TSX.V: ADL

Amos Lasker - Co-Chairman Former President & CEO of Israel Electric Corporation (“IEC”) (2008-2011). IEC is one of largest industrial companies in Israel – annual

total revenues over US $5.5 billion and total assets of US $22.3 billion. Over 30 years experience in founding and managing Israeli

and international companies in the area of telecommunication, high tech, infrastructure and energy.

Jeffrey E Walter - Chief Executive Officer

Oil and Gas executive with over 30 years in the industry, 27 of which with Noble Energy, 8 years focused in East Med. Former Vice

President of Europe and Mediterranean, Noble Energy. Led team responsible for Tamar Field offshore Israel discovery - largest global

conventional gas discovery in 2009 with over 8 Tcf announced to date. Increased Noble’s offshore Eastern Mediterranean portfolio

which included the discovery of the Leviathan and Block 12 in Cyprus (increased acreage from 600,000 gross to 3,000,000 gross.

Bachelors degree in Geology from the University of New Mexico.

Moshe Politi - Chief Geologist 39 years of experience, specializing in the integration of multi-disciplinary aspects of geology and geophysics into viable prospects in

various environments: onshore, offshore, shallow and deep prospects, structurally complex (overthrust) and stratigraphic plays focused

in the East Mediterranean. Bachelor and Master Degrees in Geology from The Hebrew University in Jerusalem and is currently engaged

in his PhD studies in Jerusalem.

Gadi Levin - Chief Financial Office Chartered Accountant with experience in the public and private equity markets, spanning multiple jurisdictions including North America,

Europe and Israel. B Comm degree in Accounting and Information Systems and MBA from Bar Ilan University in Israel. Has a Chartered

Accountant Designation.

Alon Polishuk - VP of Contracts Administration and Regulations Over 5 years in Government Services of Israel. Extensive experience in project management, business development and expertise in

legal analysis and critical examination. Specializes in Law and was admitted to the Israel Bar in 2001. Holds a BA, Business (Finance)

from the Arison School of Business, as well as LLE, Radzyner School of Law, Interdisciplinary Center, Herzliya.

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Israel Corporate Team

Providing all engineering management services for Gabriella and Samuel

TSX.V: ADL

Dennis Bennie – Co-Chairman Co-Founder Adira Energy. Founder and CEO of XDL Capital; Co-founder, Former Chairman and CEO of Delrina Corporation; former Chairperson of

Canada Israel Political Affairs Committee (CJPAC).

Amos Lasker – Co-Chairman

Richard P. Crist – Independent Director Over 42 years of oil and gas experience, with broad range of managerial and technical expertise. 25 years in corporate and senior management roles.

Currently an officer of Gasco Energy. Prior, Crist held senior positions including Executive VP, Business Development for Delek US, Executive VP,

Business Development for Elk Resources. Degree as an engineer of geophysics with a minor in geology from the Colorado School of Mines in Golden,

Colo. He is a member of Society of Exploration Geophysicists and the American Association of Petroleum Geologists and is a Certified Petroleum

Geologist.

Sheldon Inwentash - Independent Director A Chartered Accountant with over 20 years experience in investment industry. Chairman and CEO of Brownstone Energy and also the Chairman and

CEO of Pinetree Capital Ltd., a Canadian investment company with a portfolio of investments primarily in the resource and energy sectors.

Alan Friedman - Executive Vice President - Corporate Development, Director Co-Founder Adira Energy. Senior roles in resource public market sector and emerging markets covering acquisitions, disposals, financings and

investor communications. Over the decade, has managed or facilitated numerous successful transactions (IPO & RTO) on TSX and TSX-V and

financings in excess of $100m. Various roles in TSX companies, Afriore Ltd., Talon Metals Corp. and Auryx Gold Corp (recently sold to B2 Gold in

excess of $150mm). Co-Founder and Director of Eco Atlantic (TSX:EOG)

Colin Kinley – Director 31 years international expertise in energy project management and new energy companies development. Served as a Senior Executive to several E &

P companies & oilfield service companies and is specialized in frontier resource development. Director and CEO of Manx Energy Inc. - an Company

developing Heavy Oil in Canada, Director of Excelsior Minerals and CEO of Kinley Exploration LLC, leading a team providing professional, technical

and oversight to international resource companies within the upstream sector.

Orit Leitman – Independent Director 25 years experience in both managerial and director roles of Israeli and international companies spanning various industries. Currently, Independent

Director of Africa Israel Industries Ltd., and a Director of Modelim Kranot Neemanut. Served as Director of Carmel Container System Ltd. Extensive

managerial experience includes working as Corporate Vice-President, Finance at Paradigm Geophysical Ltd. and Corporate Treasurer at Scitex Corp

Ltd. BA in Economics and Executive Master of Business Administration from Tel Aviv University.

Jeffrey E Walter – Director and Chief Executive Officer

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Board of Directors

TSX.V: ADL

Legend

Adira License (WI)

Adira Option in License

Discovery Blocks

Gas Fields

Previous wells

Tel Aviv

Ashdod

Ashkelon

Herzliya

ISRAEL

EGYPT

LEBANON

CYPRUS

East Med Licenses and Discoveries

TSX.V: ADL

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Levant Basin Discoveries Since 2009

Discovery Size

Tamar 10 TCF

Dalit 0.5 TCF

Leviathan 16.7 TCF Possible Deep Oil

Cyprus 5+ TCF

Tanin 1.2 TCF

Dolphin 0.6 TCF

Shimshon 0.5 TCF

Total Discoveries 34.5+ TCF

TSX.V: ADL

International E&P Interest – East Med

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TOTAL

GAZPROM TOTAL

ENI

KOGAS

ENI

KOGAS

Legend

2nd Licensing Areas

Authorized Areas

CYPRUS

ISRAEL

LEBANON

Gazprom One of Russia’s top 5 largest oil producers. Largest

Nat Gas deposit in the world

Total French multinational oil and gas Company. One of

world’s 6 “Super Majors”

KOGAS Korean public natural gas company. World’s largest

LNG import company

ENI Italian multinational oil and gas company, in 79

countries, currently Italy's largest industrial company

Woodside Farms into 30% of Leviathan, Offshore Israel

Woodside Energy (ASX: WPL): Largest Australian petroleum exploration and production company (Approx

$30B market cap.) Produces around 800,000 barrels of oil equivalent each day.

Farm In: Woodside paid $1.25 billion for 30% of Noble’s Leviathan, also pays $50 million for expenditures

Cyprus Second Bid Round Awards

NOB LE

TSX.V: ADL

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The Syrian Arc East Mediterranean Production

Adira Energy

TSX.V: ADL

East Mediterranean Syrian Arc Ridge SSW NNE

Top

Zohar

(* Not Deep Enough)

Yam-2

~800 BOPD

Yam Yafo-1

~800 BOPD

P Gabriella-1 Delta-1

NDE*

P Yitzhak-1

Shemen Gabriella Yitzhak

P Gabriella - 1

Delta -1

P Yitzhak -1

Yam Yafo-1

Gabriella & Yitzhak Structures

TSX.V: ADL

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East Mediterranean Syrian Arc Ridge Southern Northern

Dip lines across Syrian Arc deformation zone

• Underexplored potential

• Additional anticlinal ridges

• Repeatable success possible

TSX.V: ADL

Israel’s Oil Trend Project Best Estimate Gross

Yam Hadera Adira 15% Option

133 mmbo

Yitzhak Adira

79 mmbo

Gabriella Adira

110 mmbo (contingent)

Shemen Shemen

270 mmbo

Samuel Adira

66 mmbo

TOTAL 658 mmbo

Source: Public disclosures, Not all NI 51-101 Compliant

TOTAL GROSS 255 MMBO

TOTAL NET ADIRA 108 MMBO (assuming buy back rights,

15% option exercise in YH)

TSX.V: ADL

July 2012

Noble Drilling contact/ rig secured

H1 2013 Spud Date

June 2013 Drilling Deadline

Adira’s Core Asset - Gabriella

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Economical Factors* % Breakdown Cost Attributable to Adira

10% working interest 10% $9.6 M

2.5% carry 2.5% ($2.4 M)

1.2% operator fees, 4.25%

management fee prior to discovery 3.9% ($3.8 M)

Reimbursement of Back Costs ($1.1 M)

Adira’s Net cost to Drill

3.6%

$2.3 Million

Total Cost to Adira

Geological Factors

• 110 MMBO contingent oil

• Target drilled in the ‘90’s

• Close to infrastructure,

shore

• Good quality oil (44° API)

• Block located on the

Syrian Arc (proven

reserves, production)

Additional Economic Benefits:

•Up to 10% Overriding Royalties & management fees post discovery

•15% back-in right, within 6 months post discovery

Gross Cost for Dry Well – $96 Million

* Subject to certain conditions including approval from Israel Minister of Energy and Water

TSX.V: ADL

3D seismic survey

COMPLETE

Processing & interpretation

COMPLETE

Resource Report

COMPLETE

Procurement of long lead items and

rig contract

COMPLETE

Spud well

Q1/Q2 2013

Target: Oil Jurassic fractured carbonates

Target: Gas Cretaceous limestone and sands

Miocene stratigraphic

Target: Condensate Cretaceous limestone and sands

Miocene stratigraphic

Exploration: 587 Km2 Dual Azimuth 3D completed Jan 2011 by Adira

(WesternGeco), Processing completed by CGG Veritas

Prior Drilling: Yam Yafo-1 Well: Drilled in 90’s to 5,823m tested 800 bopd (440 API)

Drilling: Shallow water 127 to 220 meters. Floater

Economic Interest*: 10% WI; 15% back-in option from Modi’in at cost; 2.5% Carry

from Tohar; up to 10% ORRI from Tohar and Modi’in; mngmnt

fees

Partners: Brownstone Energy 15%, Modi’in Energy 70%, Tohar 5%

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Gabriella Structure- Depth

Gabriella License (96,371 Acres) Operator: Adira Energy

2C (Best Estimate) Contingent Oil (Jurassic): 110.1 MMBO

Yam Yafo-1

P-Gabriella 1

*Subject to certain conditions including approval from Israel Minister of Energy and Water

TSX.V: ADL

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Faults and Fracture Orientation at Jurassic Target Horizons

Gabriella Structure

TSX.V: ADL

Target: Oil Mid Jurassic , Zohar- Fractured Carbonates

Target: Gas Cretaceous Talme Yafe carbonates and sands

Target: Condensate Cretaceous Talme Yafe carbonates and sands

Exploration: 129 Km2 3D completed by Adira (WesternGeco), processing

completed by CGG Veritas

Prior Drilling: Delta-1 Well drilled (off structure) in 1970’s to 4,423m,TD in

Upper Jurassic. Oil encountered in Mid Jurassic (Yam

Yaffo1 and Yam 2- Gabriella/Shemen) Zohar formation tested

for oil in Yam Yafo-1 (4,890m – 4,995m) and Yam-2 Well

(5,315m) interesting & significant structural high

Drilling: Shallow water 93 to167 meters. Floater

Adira Interest*: 50%(1) WI,+ 3% ORRI from Tohar + up to 4.5% ORRI from

AGR & Ellomay

Partners: Brownstone Energy 15%, AGR 5%, Ellomay 20%, Tohar 10%

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P50 (Best Estimate) Prospective Oil (Jurassic): 79.1 MMBO

Yitzhak Structure- Depth

Yitzhak License (31,689 Acres) Co-Operator: Adira/AGR

3D seismic survey

COMPLETE

Processing & interpretation

COMPLETE

Resource Report

COMPLETE

Long lead items and rig contract

IN PROGRESS

Spud well

Q4 2013

*Working interest subject to certain conditions including approval from Israel Minister of Energy and Water

TSX.V: ADL

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p50 (Best Estimate) Prospective Oil (Jurassic): 65.8 MMBO

Samuel License (89,205 Acres) Co-Operator: Adira/GGR

3D seismic survey

COMPLETE

Processing & interpretation

COMPLETE

Resource Report

COMPLETE

Procurement of long lead items and rig

contract

IN PROGRESS

Spud well

Q2/13

Target: Oil Lower Cretaceous Carbonates at 2,850m

Target: Gas Plio/Pleistocene, Oligo/Miocene, Turbidites, Canyon Filled

Sands: 2,000m

Exploration: 122 Km2 3D OBC (ARIS Nefterazvedka)

Processing: IOX-CXT

Prior Drilling: Yam-2 Well immediately west tested oil in Jurassic, Ashdod oil

field in Jurassic, Heletz oil field in Lower Cretaceous of Jurassic

Drilling: Shallow water 27 to 34 meters

Adira Interest*: Adira 31.25%(1) WI + up to 4.5% ORRI from partners other

than GGR

Partners: Brownstone Energy 6.75%, Pinetree Capital 10%,

GeoGlobal Resources 34.88%, Emanuelle Energy 7.13%,

Tohar 10%

Samuel Structure- Depth

* Working interest subject to certain conditions including approval from Israel Minister of Energy and Water

TSX.V: ADL

Yam Hadera (98,842 Acres) Adira 15% Option

Adira interest: 15% option in license

Partner: Modi’in 100%

NSAI Report*: Oil: 133MMBO Best Estimate Prospective

Gas: 1.4 TCF Best Estimate Prospective

Location: 30km offshore Israel, north west of Gabriella, part

of Syrian Arc trend

Terms Of Option:

• Adira has 14 days before drill contract signed on YH to exercise

option

• If exercised:

• ADL pays its share of past expenses incurred

• ADL earns an ORRI of 3% on all production, until costs recovery, and

4.5% thereafter

* Non 51-101 Compliant Resource

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TSX.V: ADL

Adira License Summary

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License Best

Estimate Adira WI Partners Other Terms

Spud

Date

Est. Dry Hole

Costs in USD

(100%)

Gabriella 110.1 MMBO

(Contingent)

10%(1) Modiin Energy 70%

Brownstone Energy 15%

Tohar 5%

Options to purchase 15% from

Modiin, at cost, within 6 months of

discovery

~10% ORRI and management fees

2.5% carry from Tohar

Q2 2013 $96m(2)

Samuel 65.8 MMBO

(Prospective)

31.25%(1) Geoglobal Resources Inc

34.872%

Emanulle Energy Ltd 7.128%

Brownstone Energy 6.75%

Pinetree Capital 10%

Tohar 10%

• 1.5% ORRI from partners other than

GGR

• 3% ORRI from Tohar

Q2 2013 $45m(3)

Yitzhak 79.1 MMBO

(Prospective)

50%(1) Brownstone Energy 15%

AGR 5%

Ellomay 20%

Tohar 10%

• Up to 4.5% ORRI from AGR &

Ellomay

• 3% ORRI from Tohar

Q3 2013 $96m(4)

Yam

Hadera

133MMBO

(Prospective)

Not NI 51-101 compliant

15% Option Modi’in 100% • ADL pays its share of past expenses

incurred

• ADL earns an ORRI of 3% on all

production, until costs recovery, and

4.5% thereafter

N/A N/A

(1) Subject to certain conditions including approval from the Israel Ministry of Energy and Water

(2) Adira’s share of costs is $7.2m

(3) Cost to drill Talme Yafe Target of 32.6MMBO. Adira’s share of cost is $18.56m

(4) Adira’s share of cost is $57.6m

TSX.V: ADL

Currently Israel Imports 99% of Consumption Mainly from Azerbaijan and others

Oct 22, 2012: Brent $111.55 or $26 million each day not including transportation and other fees

Israel’s Oil Importation

Source: Ministry of Energy and Water Resources

Avg. 238,000 BOPD

TSX.V: ADL

Summary - The Oil Potential

• Oil is the Next Resource Headline for Israel

– Market immediately available

• Upside Potential Along Syrian Arc Oil Trend

• Government Supportive

– Security of supply

– Daily importation approximately $25 million/day

• Funds going to other countries

– Internal production reduces dependency and costs

– State additionally benefits through tax and royalty to producers

• Risks Minimized

– Shallow water depths

– Projects are not technically challenging and near shore

– Much of the internal infrastructure already in place

• Pipelines and refining capacity

• Leveraged with additional interest through carries, back in rights and royalties

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TSX.V: ADL

22

Capital Structure, January 2013

Shares Issued & Outstanding 180.8M

Warrants 97.4M

ESOP 18.0 M

Fully Diluted Shares 292.2M

Financings to Date Proceeds

Sept 2009 8.0m units at $0.25 (half warrant at $0.50 expired) $2.5M USD

Nov 2010 27.5m units at $0.40 (half warrant at $0.55) exp Dec 2013 $11M USD

Feb 2011 10.5m shares at $0.62 $6.5M CAN

Aug 2012 79m units at $0.14 (full warrant at $0.20) exp Aug 2015 $11.1M CAN

Adira Energy TSX.V: ADL (OCTBB, US: ADENF, Frankfurt: AORLB8)

Holdings

Management + Board 30%

Institutional 40%

Retail 30%

Analyst Coverage

Cormark Securities

GMP Securities

TSX.V: ADL

Appendices

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TSX.V: ADL

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NI 51- 101 Compliant Resource Report Netherland Sewell & Associates, Inc

Hydrocarbon Classification Best Estimate Gross

Oil Contingent (2C) (1)

Jurassic (44°- 47° API) 110.1 MMBO

Condensate

Prospective p50 (2)

Miocene 7.0 MMBO

Talme Yafe 4.7 MMBO

Gevar’Am 5.7 MMBO

Gas

Contingent (2C)

Jurassic 110.1 BCF

Prospective p50

Miocene 257.1 BCF

Talme Yafe 174.7 BCF

Gevar’Am 209.3 BCF

Gabriella

(1)Contingent Resources : Those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable because of one or more contingencies.

(2) Prospective Resources: There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

The full report entitled “ Estimates of Unrisked Contingent and Prospective Resources to the Adira Energy Ltd. Interest in Discoveries and Prospects located in Block 387 (Gabriella) Offshore Israel “ is located on SEDAR

Notes: MMBO = Millions of Barrels of Oil, BCF = Billion Cubic Feet of Gas

TSX.V: ADL

Hydrocarbon Classification Best Estimate Gross

Oil

Prospective p50 (1)

Jurassic 79.1 MMBO

Condensate

Prospective p50

Gevar’Am 12.4 MMBO

Talme Yafe 13.2 MMBO

Gas

Prospective p50

Talme Yafe 486.7 BCF

Gevar’Am 457.4 BCF

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NI 51- 101 Compliant Resource Report Netherland Sewell & Associates, Inc

Yitzhak

Notes: MMBO = Millions of Barrels of Oil, BCF = Billion Cubic Feet of Gas

(1)Prospective Resources: There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

The full report entitled “Estimates of Unrisked Prospective Resources to the Adira Energy Ltd. Interest in Certain Prospective Reservoirs located in Block 380 (Yitzhak) Offshore Israel “ is located on SEDAR

TSX.V: ADL

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NI 51- 101 Compliant Resource Report Netherland Sewell & Associates, Inc

Samuel

(1)Prospective Resources: There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

The full report entitled “Estimates of Unrisked Prospective Resources to the Adira Energy Ltd. Interest in Certain Oil Prospects located in Block 388 (SAMUEL) Offshore Israel “ is located on SEDAR

Hydrocarbon Classification Best Estimate Gross

Oil

Prospective p50 (1)

Talme Yafe 32.6 MMBO

Upper Jurassic Reef 31.1 MMBO

Upper Jurassic Structural 0.63 MMBO

Barnea Formation – Jurassic Structural 1.50 MMBO

Gas

Prospective p50

Talme Yafe 32.6 BCF

Upper Jurassic Reef 31.1 BCF

Upper Jurassic Structural 0.63 BCF

Barnea Formation – Jurassic Structural 1.50 BCF

Notes: MMBO = Millions of Barrels of Oil, BCF = Billion Cubic Feet of Gas

TSX.V: ADL

Capitalizing on Undiscovered Potential: Levant Basin

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TSX.V: ADL

Brownstone Energy Inc (Formerly Brownstone Ventures) (Gabriella, Yitzhak, Samuel)

A Canadian-based, TSX-V listed, energy-focused company with direct interests in oil and gas assets around the world. Brownstone had the

right, subject to certain conditions, to earn a 15% Working Interest in Adira’s offshore blocks for three years.

Tohar Hashemsh Ltd (Tohar) (Gabriella, Yitzhak, Samuel)

Private Israeli Company owed by Dr. Efraim Eligula, is a lawyer by profession, and an Israeli real estate entrepreneur, investments in the Israeli

energy sector, primarily in the field of solar panels and gas stations. 10% Working interest in Samuel and Yitzhak, 5% working interest in

Gabriella.

Pinetree Capital Ltd (Samuel)

A Canadian-based, TSX listed diversified investment, financial advisory and merchant banking firm focused on investing in early stage

resource companies. 10% Working Interest in the Samuel.

GeoGlobal Resources Inc (Samuel)

AMEX listed, Canadian- based resource and operating company engaged in the exploration and development of petroleum and natural gas

reserves internationally. 34.88% Working interest in Samuel

Ellomay Oil and Gas 2011 LP (Yitzhak)

Israeli public company whose shares are listed on the NYSE Amex stock exchange, which focuses its business in the energy and infrastructure

sectors worldwide. Assets include ten photovoltaic plants in Italy with an aggregated capacity of approximately 11 MW and holdings in Dorad,

Israel's largest private power plant. 10% Working Interest in the Yitzhak block

AGR Group ASA (Yitzhak)

Headquartered in Norway with operations and offices in Europe, Middle East, Commonwealth of Independent States (Russia, Azerbaijan and

Kazakhstan), Asia Pacific and Americas, is a leading provider of essential services and technologies to the international petroleum industry.

AGR operates in the areas of construction and managing of drilling programs, exploration, development, production and project maintenance.

5% Working Interest in the Yitzhak

Modi’in Energy Limited Partnership (Gabriella, Yam Hadera)

Tel Aviv- based oil and gas investment group. farmed-in 70% interest in the Gabriella License. Adira has a back-in option from Modi’in of 15%

of the Modi’in working interest at cost, for a period of six months after a discovery. ADL has an option to acquire 15% of Yam Hadera

Adira operating royalty from Modi’in of 4.25%

Combined (ORRI ) royalty of 4.5%, increases to 10.5% after cost recover

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Partners

TSX.V: ADL

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Joe Oliver, Canadian Minister of Natural Resources Uzi Landau, Israeli Minister of Energy and Water Resources

Minister Visit, Israel Office

June 2012 August 2012

TSX.V: ADL

Corporate Office:

Canada

120 Adelaide Street West, Suite 1204

Toronto, Ontario

M5H 1T1

Israel Office:

12 Abba Hillel Silver, 12th Floor

Ramat Gan, 52506

Canada:

Alan Friedman

Exec. Vice President, Corporate Development

+1 416 250 1955

Julia Maxwell

Manager, Investor Relations

info@adiraenergy.com

+1 416 361 2211

Israel:

Gadi Levin

Chief Financial Officer

+972 (0) 3 373 0166

www.adiraenergy.com

info@adiraenergy.com

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Contact Information