We Are Moving Forward
WE ARE MOVING FORWARD
Drilling Rig Secured in Israel!
We at Zion wanted to reach out again to our many friends and shareholders around the world to make clear that we have signed a contract for a drilling rig that is already in Israel.
This is exciting news!
On October 6, 2016, a drilling contract was executed by Zion and DAFLOG Ltd, an Israeli-registered related party entity to DAFORA S.A.
DAFORA is the largest drilling company in Romania and has drilled over 1,000 wells in Romania, Eastern Europe and East Africa.
Zion will use DAFORA’s F-400 drilling rig which has a 3,000 HP capacity drawworks capable of drilling to over 20,000 ft. This provides sufficient horsepower and safety factor to drill our planned well with a target depth of up to 15,000 ft.
Drilling Plan Submitted To Israel’s Petroleum Commissioner
We are also excited to announce that today (October 13, 2016), we submitted a detailed engineering plan to carry out the drilling – all 72 pages!
In addition to raising additional funding with which to fully fund our first well, we must still:
- Complete construction of the drill site
- Obtain a final drilling permit
- Receive work visa permits for Romanian rig workers
- Move the rig onsite, rig up and test the rig
- Spud and drill well to total depth of ~ 15,000 ft.
We appreciate your patience and consistent prayers of faith. We are definitely getting much, much closer to what we’ve all been waiting for!
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