Environmental Impact Study Delivered In Jerusalem, Israel

FROM THE PRESIDENT:

TRIP TO ISRAEL

Dr. Lee Russell (Chief Geoscience Consultant) and I were in Israel last week interacting with our exploration staff on our prospect interpretations, etc.  It was a fruitful and useful week.  While there we had presentations / meetings with several contractors (GeoProspect & Ya’ad, Dr. Amos Bein, Dr. Gavi Shaliv) and with Energy Ministry officials.

Last Wednesday, a few of us made a trip to Jerusalem: Ilan Sheena (Chief Financial Officer and Managing Director in Israel), Dr. Yehezekel (Charlie) Druckman (Zion Board Member) and Moshe Politi (Geoscience Consultant) went to the Energy Ministry offices to visit with Ilan Nissim (Head of the Environmental Division and our liaison to Israel’s Environmental Ministry) and Dr. Avi Honigstein (Deputy Petroleum Commissioner).  We also visited briefly with Dr. Miki Gardosh (Head of Geoscience) and Dr. Bariudin (Head of Engineering Inspection).

 

ENVIRONMENTAL IMPACT STUDY DELIVERED

The key news and significant milestone is that we officially delivered our Environmental Impact Study (> 300 pages!) to the Energy Ministry (it was also recently forwarded to the Environmental Ministry).  We will now await comments within ~30 days from the Environmental Ministry.  Once received, we will modify/revise as appropriate.

If all goes well, we hope to have an approved Final Opinion from the Environmental Ministry in ~3-4 months (April/May).  Thereafter, we will seek a drilling permit.  We will continue to focus on preparing key reports/milestones toward drilling our Megiddo-Jezreel #1 well later in 2015.

Energy-Ministry-Zion-EIA---C-Jan-21-2015

Best Regards,

Victor_Carrillo_Signature

Victor G. Carrillo
President & COO