Press Release: Zion Oil & Gas Successfully Drills, Logs, and Cases Deep Israel Well
Zion Oil & Gas Successfully Drills, Logs, and Cases Deep Israel Well
Petrophysical Analysis Supports Possibility of Multiple Hydrocarbon Bearing Zones
DALLAS and CAESAREA, Israel, February 26, 2018 /PRNewswire/ — Zion Oil & Gas, Inc. (NASDAQ: ZN) announces that it has successfully drilled its Megiddo-Jezreel #1 well to a total depth of 5,060 meters (~16,600 feet). Zion also successfully obtained three open-hole wireline log suites (including a formation image log). The well has also been cased and cemented in preparation for upcoming testing of multiple zones of interest, including zone(s) where free-flowing hydrocarbons were collected after circulating mud in the borehole.
Zion’s President and Chief Operations Officer, Dustin Guinn, stated, “We are extremely pleased with the completion of drilling of the MJ #1 well. While it may have taken longer than we would have liked, we had more than 119,000 man-hours with zero recordable incidents while drilling more than three miles into the earth. On a wildcat exploration well, this is an achievement in which all involved should take pride. We also recognize that the goal of this well was to find oil, and we can say with absolute confidence that we were successful in attaining that goal. The next crucial step is being able to effectively test and establish the well’s commerciality. I am excited about this phase as it will be a crucial and historic moment for Zion and its shareholders.”
Zion’s CEO, Victor G. Carrillo, added, “The logs appear to confirm what we know from seeing oil mixed in with the mud – that we encountered live oil in the deep portion of the well. We still await a full interpretation of the image log obtained in our last logging run to ascertain fracture location and intensity. Our interpretation, supported by third party petrophysical analysis, shows multiple zones exhibiting key properties that we will test for production capacity. We cannot comment on the well’s capacity for commercial production until after we conduct and analyze our well testing protocol, which we anticipate to take place in April. We will endeavor to provide further updates as material information becomes available.”
"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
Heavenly Father, Thank you for giving me the opportunity to be part of this project. you know my heart and in prayers I have been that Israel will always be blessed. ~Happy birthday~
Living in Your grace ~Marisol~ xoxoxo
May the Lord our G-d bless Israel in Jesus Mighty Name, Amen!
I would like to invest in your stock. Is it possible to send a check?
Yes, you may send in a check. Go here to download the enrollment form and mail with a check: https://www.zionoil.com/dspp-pdfs/Zion_Oil_Gas_DSPP-Enrollment-Form.pdf
Dear Precious Israel. I am most grateful for your Drill/ Find of, Zion Oil & Gas! Praising Father G-d for your Blessings of finding this..
Also that All were Blessed. With no one hurt,/ No Loss of Lives.
G-d is Faithful, an True to His Word.
Prayers coming your way. that none will try to take over you blessings. or make you fear! G-d always finishes His Master-piece! And this was a needed, an awesome gift to Israel. Glory
Hallelujah. This is Good News.
Be Prayful, Be safe, an Sing His joyful Psalms. While you work.
In Jesus Holy Name. Amen…
GOD IS GOOD
We would like to invest in Zion oil.
Great! You may do so here: https://www.zionoil.com/dspp
Awesome work!!! Way to partner with our Great & awesome Lord & God of Israel…& Of all Heaven & Earth. Glad to hear the good news..& glad you persevered. Hallelujah. Many more blessings be unto you all. In Jesus` Mighty name. Amen & Amen.
We know that God will always bless His “chosen people” and it will be no surprise when vast amounts of oil and natural gas are are flowing from this exploration. Amen!
I have always had faith in your Company. I trust the Lord that you will find oil in the Land Israel. The Faith is strong.
So glad you guys are accident-free. That’s the goal on any project. Now, don’t get careless, and hold on to your admirable record.