18 December 2009 – Operations Update # 33
December 18th, 2009As the holiday season arrives, our work continues without letting up on the pace.
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
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.
Drilling Operations on the Elijah #3 Well
Zion’s Asher-Menashe license area is along the Israeli coastal plain and on the Mount Carmel range, between Caesarea and Haifa. The Elijah #3 well site is situated approximately 12 miles north of Caesarea, just off Road 4.