Dec. 1 (Bloomberg) -- Globe Exploration LP declined the most in more than a year after the oil and gas explorer said a delay in a drilling test at the Ofek-1 well will cost an estimated $2.4 million in damages.
The shares tumbled 20 percent, the biggest intraday decline since September 2010, to 0.041 shekel at 2:44 p.m. in Tel Aviv.
Globe reported a mechanical error at the Ofek-1 site, according to a filing to the Tel Aviv Stock Exchange today.
--Editors: Shanthy Nambiar, Claudia Maedler
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