Zion Oil & Gas CEO, Dustin Guinn: Results of Unit Program
Dear Zion Supporters and Shareholders,
I want to take this opportunity to let each of you know that the unit offering and overall participation in our Direct Stock Purchase Plan (DSPP) during the last month has been very successful. I continue to be amazed by your support.
Zion raised ~$5.3MM in the current unit offering. As a result, we plan to resume testing operations on October 14th. We are extremely happy about this, and wanted to make sure we share this with you so that you might be encouraged as well.
As I previously mentioned, we plan to test up to five additional shallower zones that have been identified by pre-drilling identification, supported by drilling results, and further supported by post-drilling analysis by third-party review of the MJ#1 open hole logs. We expect testing to take between six to nine weeks barring any unforeseen mechanical delays.
Gate at Zion Oil & Gas drill site in Israel
Management, along with all of our staff, want to sincerely thank you for your continued support. This mission has been one of the most difficult challenges we have undertaken, and we are not done. We also recognize that we are completely shareholder funded and as a result, this is your company. There is so much left to do, and it is an honor to represent our shareholders in this mission.
Thank you for your continued prayer, and please let us know how we can be praying for you.
Shalom and thank you,
CEO, Zion Oil & Gas