Press Release: Zion Oil & Gas Encounters Oil
Zion Oil & Gas Encounters Oil
Company Drills Deeper in Response
DALLAS and CAESAREA, Israel, February 13, 2018 – Zion Oil & Gas, Inc. (NASDAQ: ZN) announces that during the current open hole wireline logging and subsequent reaming (cleaning the well bore) operations, Zion encountered free-flowing hydrocarbons while circulating drilling mud.
Zion's President and Chief Operations Officer, Dustin Guinn, provided further understanding of recent events stating, "We were cautiously optimistic given the amount of gas that accumulated in the well after returning from Shabbat after calling total depth (TD) at 5,026 meters (~16,500 feet). After making our first of three open hole logging runs, we decided to ream to bottom to clean the hole out in anticipation of our second logging run. After circulating the well, we experienced a continued and significant increase in gas followed by clear evidence of oil in our circulated mud from the bottom of the well. This is obviously very exciting news and as a result, we have decided to continue to drill up to another 70 meters (~230 feet). We expect that to take a couple of days, and barring any operational difficulties, we will continue with our open hole logs immediately thereafter."
Zion's CEO, Victor G. Carrillo, added, "I am ecstatic to see clear evidence of hydrocarbons (oil and gas) in the deeper portion of our Megiddo-Jezreel #1 well – a project that we have been working on for years. However, at this time we cannot comment on the commerciality or ability to successfully produce the well. We ask that our shareholders continue to pray for safe and successful drilling, logging, and testing operations, and for God's wisdom for management as we make key decisions in the following days and weeks. Please be patient. We will provide further updates after we have adequate time to properly evaluate the logs and finalize our well testing program following the recent events."
"For You are great, and do wondrous things; You alone are God."
Psalm 86:10
"In His hand are the deep places of the earth …"
Psalm 95:1-7
I am also new at this and so happy to be an investor. I pray for the peace of Jerusalem…Blessing
I pray for the success of this endeavor, that Israel will indeed become independent of her enemies for oil. What a blessing that will be! However, my first desire and prayer for Israel is that they receive the revelation of who Jesus is, their Lord and Savior. I know the Word says that only a remnant will be saved. My constant prayer is, “Lord, make it a very large remnant.” May the Lord Jesus bless you all spiritually, physically, and financially. Thank you for the opportunity to serve, however small.
Jack Nickel
I am a new investor, and so very excited to be a part of this process. I pray that God will bless and guide Zion during the drilling process, and Israel will be blessed by finding abundant and overflowing oil for their economic and political independence. How exciting it is to be a very small part of what could be something so huge for Israel! Shalom, God bless Israel, and everyone involved at Zion Oil & Gas.
I am a proud new shareholder of Zion oil!! I know this is probally going to be a long term investment .
I was wondering , do you have any info on What if? ( it hits) I am new at this ( my first and I chose Zion.
I love to dream , wish, and I pray.
I love info on what it means to shareholders if Zion hits oil
Thank you
The LORD that keepeth thee would neither slumber nor sleep. Thanks to God Almighty for the fulfilment of His word.. Congratulations Israel,
from Nigeria.
Prayers are going up and I am thanking God for Zion Oil and Gas obedience to the Lord and thank God for blessing Israel…..