Zion Oil & Gas updates exploratory well status onshore Israel

(WO) – On June 14, Zion Oil & Gas provided a fresh report on the status of its operations in Israel. The firm took the opportunity to share a few key takeaways from its recent annual meeting. Commented Zion CEO Rob Dunn, “Here are seven significant points that cover operational, licensing, and geological aspects”:

Courtesy of Zion Oil & Gas

1. We are working on reentering the Megiddo-Jezreel #1 well (MJ-01), where new technologies and data will be implemented with the aim of having a producing well.
2. Our team is focused on using new stimulation methods for MJ-01, anticipating improved flow probability in several key zones.
3. We are making significant strides in finalizing plans with service providers and contractors, with our operations team diligently finalizing the reentry plans for the MJ-01 well.
4. A reminder that a key component is that we own our own rig and are precuring many ancillary items that strengthen our operational capability.
5. We have completed meetings with service providers, receiving pricing estimates to facilitate budgeting and future planning.
6. We anticipate hitting the ground running, assuming we receive approval from the ministry in Q3.
7. Our future plans include additional exploration projects.

“We believe these developments put us in an excellent position for our operations, further our exploration efforts, and, ultimately, deliver value to our dedicated investors,” added Dunn.