Home arrow Press Releases arrow Zion engages Ernest R. Ayers, President and CEO of Radix Inc., Texas Zion's consulting geophysicist
Zion engages Ernest R. Ayers, President and CEO of Radix Inc., Texas Zion's consulting geophysicist Create a PDF Printer Friendly Version E-mail this Page
Caesarea, Israel - September 20, 2007 - Zion Oil & Gas, Inc. (Amex: ZN), of Dallas, Texas and Caesarea, Israel, announced today that it has engaged Ernest R. Ayers, President and CEO of Radix Inc., Ft. Davis, Texas, as its consulting geophysicist for the design and field supervision of its upcoming geophysical survey to be conducted in its Asher-Menashe License area between Caesarea and Haifa, Israel.

 

Radix Inc. specializes in seismic processing, field acquisition design and implementation. It has earned a reputation in creating solutions utilizing continuous velocity analysis methods and has software capabilities that include unique lithological tools. Mr. Ayers has 34 years experience as a processing and consulting geophysicist.

As previously announced on September 17, 2007, Zion signed an agreement with the Geophysical Institute of Israel to conduct one of the largest and most comprehensive geophysical surveys on-shore in Israel of the past two decades aimed at selecting the optimal drilling site for a test well on its Ramot Menashe (Menashe Heights) prospect and upgrading the company's Nahal Me'arot lead (nearby the Asher-Atlit No. 1 well) into a drillable prospect.

Zion Oil & Gas, a Delaware corporation, explores for oil and gas in Israel, onshore between Tel-Aviv and Haifa. It currently holds a 78,000 acre exploration license, known as the Asher-Menashe License, located between Caesarea and Haifa. Its application for the issuance of an 85,000 acre exploration license, tentatively named the Joseph License, located between Caesarea and Netanya, on which the company drilled a 15,842 foot well in 2005, is currently pending before the Israel Petroleum Commission. A decision on the application is expected during September or October 2007.

FORWARD LOOKING STATEMENTS: Statements in this press release that are not historical fact, including statements regarding the effect of Zion's operations on future operations, the potential results of future operations and plans contingent thereon, are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

Zion's home page may be found at: www.zionoil.com

Contact:
Ashley Chatman
Zion Oil & Gas, Inc.
6510 Abrams Rd., Suite 300
Dallas, TX 75231
214-221-4610
Email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

 

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