is not just believing that God can, it is knowing that God will do it.
I greet you all with these words, “Wherefore, sirs, be of good cheer: for I believe God, that it shall be even as it was told me.” (Acts 27: 25-26) Recently I received an email from a Zion shareholder who was obviously disappointed that what he had expected to happen in our last well didn’t happen exactly the way that we all wanted it to. So, he wrote me and said, “You don’t really expect me and all the other shareholders in Zion to just follow by blind faith, do you?” Well I thought about that and my answer to him and any others who may be doubting God’s promises will be; if it is written in the Bible then God (not me) does expect all of us who call ourselves believers to “By Faith” believe His word and all His promises because “Your Faith should not stand in the wisdom of men, but in the power of God.” (1 Cor. 2:5) So what I believe and expect is only what He says will happen will eventually happen but we must be patient as we wait for the promises.
“Knowing this, that the trying of your faith worketh patience.”
I felt led to write you all to re-affirm my personal commitment and to re-assure you all that I am still as determined today as I was 32 years ago when I believe God first called me to Israel to see His promises to Israel come to pass. (Gen. 49) (Deut. 33) Because, “Faith is the assurance of things hoped for, the proving of things not yet seen.” (Heb. 11:1) and know this; our faith will be tested. (Psa. 105:19) Because from Zion’s inception, the calling of Zion Oil & Gas has been to assist Israel in the restoration of the Land by finding and producing oil and gas – helping to make Israel politically and economically independent. We see the State of Israel not only as a refuge for Jews, but as the fulfillment of prophecy: “And I will plant them upon their land, and they shall no more be pulled up out of their land which I have given them, saith the LORD thy God” (Amos 9:15) and please remember that it is written; “Without faith it is impossible to please him; for he that cometh to God must believe that he is, and that he is a rewarder of them that diligently seek him” (Heb. 11:6) and He does require us to have faith and it says in (Rom. 14:23) “for whatsoever is not of Faith is sin.” (Psa. 119:11) I am trying very hard to encourage, exhort and edify you all to continue to follow in the steps of faith that our father Abraham taught us by his example and faith in (Gen. 15:6) and we must believe God to avoid any problems by not believing His promises. (Psa. 106:24) (Num. 14) Personally these verses in (Rom. 4:20-21) are what I believe in and not what I see or hear; “He staggered not at the promises of God through unbelief; but was strong in faith, giving glory to God; and being fully persuaded that what he has promised, he was able to perform.”
So, I will do just like David did in (2 Sam. 7:28-29) when he prayed for Gods blessings. Why? Because I began this journey, “By Faith” in God and in His promises in His word, and I fully expect to finish it and see it “By Faith” come to pass. (Proverbs 23:18)
“And now, O Lord God, thou art that God, and thy words be true, and thou hast promised this goodness unto thy servant:
Therefore now let it please thee to bless the house of thy servant, that it may continue for ever before thee: for thou, O Lord God, hast spoken it: and with thy blessing let the house of thy servant be blessed for ever.”
(2 Sam. 7:28-29)
Israel’s Deepest Well Targets 1.5 Billion Barrels of Oil
By Shoshanna Solomon – Jul 18, 2013
The deepest oil well drilled in Israel’s 65-year history may be the most important.
Houston’s Noble Energy Inc. (NBL) will probe 6,500 meters (4 miles) below the Mediterranean seabed later this year, targeting as much as 1.5 billion barrels of crude, equal to about 15 years of Israeli demand.
While explorers have found enough natural gas in the past five years to turn Israel into an exporter, a major oil discovery would break new ground. The Middle East’s third-largest economy spends about $10 billion a year importing 98 percent of the oil it uses. Domestic production would increase tax revenue, boost the country’s balance of payments and reduce vulnerability to supply disruptions.
“The economic impact on Israel would be far greater than that of natural gas,” David Wurmser, director of the Washington-based Delphi Global Analysis Group, said in a phone interview. “Finding the oil would mean big money for the Israeli companies and the government.”
Noble isn’t the only explorer hunting for oil. Shemen Oil & Gas (SMOG) Resources Ltd. is looking to hit an oil field reckoned to hold 120 million barrels by the end of August.
Gabi Ashkenazi, once Israel’s top general and now Shemen’s chairman, said finding crude will enhance the country’s security.
“If we are successful, it will be a strong push to the economy, and to the strategic objective to become energy independent,” said Ashkenazi, 59, who spent four years heading the armed forces before retiring in 2011. “Oil will be an important factor in this.”
Israel has discovered enough natural gas under the Mediterranean to supply the country for decades while leaving plenty left over for exports. In March, production started from the Tamar field, the largest yet developed, a project that may add about 1 percentage point to gross domestic product, according to the Bank of Israel. Leviathan, almost twice Tamar’s size, is scheduled to come on stream in 2016.
It’s at Leviathan that Noble, the lead partner in a group including local billionaire Isaac Tshuva’s Delek Drilling-LP and Avner Oil Exploration LLP (AVNRL), believes a layer of rock below the gas field may contain the equivalent of 210 million to 1.5 billion barrels of oil.
Noble expects to start a well at the end of this year when a new drilling ship is delivered from South Korea and rates its chances of success at 25 percent, according to company filings.
“We believe there is potential for significant oil resources at this prospect and the basin,” Noble’s Susan Cunningham, senior vice president of exploration and business innovation, said in a May 2012 statement.
The key to finding Israel’s offshore energy deposits has been technology — developed in places like the U.S. Gulf of Mexico and Brazil — to drill in deeper waters and further under the seabed. The Leviathan oil well will be drilled in 1,600 meters of water and probe a further 6,500 through the rocks below, according to company filings.
“Thanks to advances in drilling technology, Israeli companies and their international partners can now reach greater depths that will enable oil exploration at lower geological levels than ever before,” Yossi Abu, chief executive officer of Delek Drilling (DEDRL), said in a phone interview.
Delek Group (DLEKG) shares advanced 1.4 percent today to the highest since June 23, bringing its 12-month rise to 82 percent. Delek Drilling shares closed little changed, capping a 40 percent rise in the past 12 months.
Avner shares gained 0.4 percent, bringing its 12-month advance to 36 percent. Ratio Oil Exploration 1992 LP (RATIL), also a partner in the Leviathan field, rose 2.4 percent, the most since June 23.
Because it’s deeper, the well will probably cost more than the $120 million spent making the original Leviathan discovery. The greater profits from pumping oil over gas make the expense worthwhile, Guil Bashan, an analyst at IBI-Israel Brokerage & Investments Ltd., said in a note in June. While gas requires expensive pipelines or export terminals, oil can be easily put in tankers and shipped wherever it’s wanted, he said.
Still, drilling is uncertain. Ashkenazi’s Shemen had to raise money from investors twice this year after delays completing the Yam 3 well 16 kilometers (10 miles) off Israeli’s coast. It expects to to hit the well’s target depth by the end of August.
Former military and security officers like Ashkenazi are coveted by energy companies that find government contacts useful during the licensing process. Meir Dagan, former head of Israel’s intelligence service, Mossad, is chairman of oil explorer Gulliver Energy Ltd. (GLVR) Delek Group Ltd.’s chairman Gabriel Last was a deputy inspector-general of Israel’s police in the 1990s.
Israel’s search for oil and gas opens opportunities to supply neighboring countries that will enhance Israel’s security, Ashkenazi said.
“Natural resources in this region, especially in energy, are providing an opportunity to co-operate with some of our neighbors, maybe with Jordan, maybe with Turkey and other places,” said Ashkenazi, who fought Egyptian troops in the Sinai peninsula in 1973. “Energy is important, like water.”