PRESS RELEASE: Zion Oil & Gas Continues Drilling in Israel
August 09, 2017 at 02:04 pm EDT
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DALLAS and CAESAREA, Israel, August 9, 2017 - Zion Oil & Gas, Inc. (NASDAQ: ZN) continues active drilling operations at its Megiddo-Jezreel #1 well in Israel. As of today, we have reached a depth of approximately 5,850 feet (~1,785 meters) toward a proposed total depth of up to ~15,000 feet.
Zion's President and COO, Dustin Guinn, says, 'I am encouraged by the results so far. Since our last update, Zion finished drilling through the intermediate casing interval at 1,665 meters. After running wireline logs and analyzing the data, we obtained over 20 sidewall cores from different zones within the well that spanned approximately 800 meters (~2,625 feet). The Geologic Survey of Israel is analyzing several of the cores for porosity, permeability, and other factors. After retrieving the cores, we proceeded to successfully case and cement the 13-3/8' casing string. Because this is an exploration well, it continually presents surprises, but overall, we are excited about the progress and prayerfully continue drilling ahead.'
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Zion Oil & Gas explores for oil and gas onshore in Israel and its operations are focused on the Megiddo-Jezreel License (approximately 99,000 acres) south and west of the Sea of Galilee.
Zion Oil & Gas Inc. published this content on 09 August 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 August 2017 18:03:04 UTC.
Original documenthttps://www.zionoil.com/updates/press-release-zion-oil-gas-continues-drilling-in-israel/
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Zion Oil & Gas, Inc. is an oil and gas exploration company. The Company holds replacement license for New Megiddo License 428 (NML 428), which lies onshore, south, and west of the Sea of Galilee. Its wholly owned subsidiaries include Zion Drilling, Inc., which is focused on owning a drilling rig, related equipment and spare parts, and Zion Drilling Services, Inc., which acts as the contractor providing drilling services. The Company has not generated any revenues.