Press Release: Zion Oil & Gas Operational Update for License #428 in Israel
Zion Oil & Gas Operational Update for License #428 in Israel
Zion files for a new exploration license in the Megiddo-Jezreel Valley.
DALLAS, Texas, and CAESAREA, Israel, May 11, 2022
Zion Oil & Gas, Inc. (OTCQX: ZNOG) files for a new exploration license in the Megiddo-Jezreel Valley on the same 99,000 area as the previous #401 license and the current #428 license.
“This new exploration license application will further our current and future work plans in Israel,” stated Vice President and Managing Director in Israel, Jeff Moskowitz.
All well-testing, completion, and stimulation equipment are at the Haifa port or on location in Israel for the next phase of Zion’s operations.
Zion’s MJ-02 well has been completed through casing, liner, and cementing. Ongoing operations include well stimulation and DST testing. All necessary equipment to conduct the well stimulation and DST testing are in-country despite the global logistical backlog.
Simultaneously with the new exploration license filing, Zion has submitted a petition seeking administrative approval of a term of three-years for the #428 exploration license under Israel’s petroleum law.
Zion Drilling Rig in Israel. Photo taken on November 22, 2021.
Zion Oil & Gas, a public company, traded on OTCQX Best Market, explores for oil and gas onshore in Israel on their 99,000-acre Megiddo exploration license area.