Here is my first update to you, in 2010, so:
May 2010 bring you health, happiness and success.
All of us share the same deep desire to achieve success with our goal to find oil and gas onshore Israel.
As the holiday season arrives, our work continues without letting up on the pace.
The past week has been most eventful, as every day revealed itself. Here are just some of the events:
The Ma’anit-Rehoboth #2 Well
We drilled the Ma’anit-Rehoboth #2 well to a depth of 17,913 feet (5,460 meters).
Dallas, Texas and Caesarea, Israel – December 1, 2009: Zion Oil & Gas, Inc. (NASDAQ GM – ZN) announced today the preliminary results of its rights offering to stockholders, offering 3.6 million shares of Zion’s common stock at a subscription price of $5.00 per share. The rights offering terminated yesterday, November 30, 2009, as originally scheduled. Preliminary results indicate that subscriptions were received for over $37 million, significantly greater than the maximum available of $18 million.
The Ma’anit-Rehoboth #2 Well
We drilled the Ma’anit-Rehoboth #2 well to a depth of 17,913 feet (5,460 meters) and the proposed completion procedures planned for this well have now been reviewed and agreed.
The Ma’anit-Rehoboth #2 Well
This past week, on Thursday, we welcomed Petroleum Engineer John McKenney to Israel. He has arrived to review the completion procedures planned for the Ma’anit-Rehoboth #2 well. John has nearly 40 years experience in Oil & Gas. He has worked for many well-known petroleum companies, including Arco International, Phillips Petroleum, Schlumberger, Tesco Drilling and Triton Engineering. He has also consulted for many other companies, including Murphy Oil, Ocean Energy and Shell Oil.
The Ma’anit-Rehoboth #2 Well
In previous weeks, I have summarized the situation regarding this well.
Dallas, Texas and Caesarea, Israel – Nov 3, 2009 – Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that, effective November 1, 2009, Ilan Sheena, a certified public accountant in Israel, joined the Company as Vice President of Finance of the Company’s Caesarea branch.
