i dont know why anybody would presume this is the end
zn, like a typical wildcatter, has had many dry wells
bc 100's of millions of a certain group worldwide believe in blessing israel,zn has an unusually large potential donor base
we saw zn's ability to raise money under difficult conditions at a bad time of the year for fundraising when zn raised 5.3 million in august/september
its better to try and fail and keep trying than to never have tried
edison failed probably a hundred times in his efforts to create a light bulb(and succeeded only bc he lied to investors saying he had succeeded before he did to raise money-certainly not advocating that -just pointing out history)
many inventors and resource co's had similar experiences
not sure i understand all the posts about low chloride water-will have to read again- but i understand your post re the water and/or water monitoring,which zn may be able to monetize for some income
it would take israel millions to drill the well also-so renting the well from zn(after the well is plugged below the good water level depth)makes sense
the well is possibly well suited geographically to support israeli interests since its only ca 3 miles from the jordan river and ca 3 miles from the west bank-so a good geopolitical location
i dont know yet if the posts re water which i read yesterday had any influence on this but this morning when i woke up the thought,"a baptism of water",in connection w zn, went through my mind
many here are familiar with the baptism of water, which preceeds the baptism with oil
so that could be prophetic-when i get more time...
the levant basin which includes much of israel,has been prognosticated to hold much oil and gas,with such surrounding israel on several sides
just bc not much exploration has been done in onshore israel by big oil co's currying favor from the arab states has more to do w the geopolitical situation than with science,to their longtime loss
does anybody remember whether zn has had enough water in wells before to be used for the water content or for water monitoring- i dont remember any but i wouldnt know prior to 2009
both egypt and israel have had past plans for canals from the Mediterranean to bring water to the desert-in egypt the Qattara depression and in israel to the dead sea
wars are already being fought over water and such will increase,just as japan preemptively attacked the usa in an attempt to secure resources, for japan itself was resource deficient
good to see israel increasingly using desalination plants to help with the kinneret lake
emphasis added
Zion Oil & Gas Operational Update on Megiddo-Jezreel #1 Well in Israel
DALLAS and CAESAREA, Israel, November 20, 2018 /PRNewswire/ -- Zion Oil & Gas, Inc. (NASDAQ: ZN ) announces that it has completed the testing program of its primary zones located within the Jurassic and Cretaceous-age Formations of the Megiddo-Jezreel #1 (MJ #1) well.
As a result of the testing, Zion has determined that the well is not commercially productive.
Zion’s Chief Executive Officer, Dustin Guinn commented, “Unlike the lower Triassic zones, two of the multiple zones we tested wi thin the Middle Jurassic and Cretaceous had sufficient permeability and porosity to flow to surface, as outlined below:
1. Zone 1:
a. 3,468-3,461 meters would not flow naturally to surface. The fluid characteristics obtained while swabbing indicated high chloride brine.
2. Zone 2:
a. 3,455-3,446 meters would not flow naturally to surface. The fluid characteristics obtained while swabbing indicated high chloride brine.
3. Zone 3:
a. 3,325-3,310 meters would not flow naturally to surface. The fluid characteristics obtained while swabbing indicated high chloride brine.
4. Zone 4;
a. 1,784-1,775 meters flowed naturally and continuously to surface. The fluid characteristics obtained from monitoring samples taken while the well was flowing indicated low chloride water.
5. Zone 5:
a. 1,232.5 – 1,228 meters flowed naturally and continuously to surface. The fluid characteristics obtained from monitoring samples taken while the well was flowing indicated low chloride water.
The fluid did not contain hydrocarbons, and further testing at this time is not warranted. Zion is currently in discussions with the Israeli government on plugging obligations. Given the thermal gradient, flow rates, surface pressure and low salinity, certain ministries within the Israeli government have made requests of Zion concerning the use of the well as a water monitoring well. Zion will review the economic impact and obligations as a result of this request to determine a prudent plugging plan.
While the well was not commercially viable, Zion has learned a great deal from the drilling and testing of this well. We refer to our previous press release and operational update of August 16 th , 2018 where we outlined our testing objectives relating to this well. We believe that the drilling and testing of this well carried out the testing objectives we previously outlined and may support further evaluation and potential further exploration efforts within our License area. Those efforts will obviously take time and support and additional financial resources, which we will need to raise, but we are confident that it will be time and resources well spent to deliver on Zion’s mission and the vision of supporting Israel.
Management, along with all of our staff, want to sincerely thank you for your continued support. There is much left to do, and it is an honor to represent our shareholders in this mission.”
“But everything exposed by the light becomes visible and everything that is illuminated becomes a light”
Ephesians 5:13
“That your faith should not stand the wisdom of men, but in the power of God”
1 Corinthians 2:5
FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion’s planned operations, anticipated attributes of geological strata that may be drilled or tested in the future, our ability to raise additional funds in amounts adequate to support further exploration efforts in our license areas, operational risks in ongoing exploration efforts, timing and potential results thereof and plans contingent thereon are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
Contact Info:
Zion Oil & Gas, Inc. (NASDAQ: ZN )
12655 North Central Expressway, Suite 1000, Dallas, TX 75243
Andrew Summey
Telephone: 888-891-9466
Email: andrew.summey@zionoil.com
www.zionoil.com
zn, like a typical wildcatter, has had many dry wells
bc 100's of millions of a certain group worldwide believe in blessing israel,zn has an unusually large potential donor base
we saw zn's ability to raise money under difficult conditions at a bad time of the year for fundraising when zn raised 5.3 million in august/september
its better to try and fail and keep trying than to never have tried
edison failed probably a hundred times in his efforts to create a light bulb(and succeeded only bc he lied to investors saying he had succeeded before he did to raise money-certainly not advocating that -just pointing out history)
many inventors and resource co's had similar experiences
not sure i understand all the posts about low chloride water-will have to read again- but i understand your post re the water and/or water monitoring,which zn may be able to monetize for some income
it would take israel millions to drill the well also-so renting the well from zn(after the well is plugged below the good water level depth)makes sense
the well is possibly well suited geographically to support israeli interests since its only ca 3 miles from the jordan river and ca 3 miles from the west bank-so a good geopolitical location
i dont know yet if the posts re water which i read yesterday had any influence on this but this morning when i woke up the thought,"a baptism of water",in connection w zn, went through my mind
many here are familiar with the baptism of water, which preceeds the baptism with oil
so that could be prophetic-when i get more time...
the levant basin which includes much of israel,has been prognosticated to hold much oil and gas,with such surrounding israel on several sides
just bc not much exploration has been done in onshore israel by big oil co's currying favor from the arab states has more to do w the geopolitical situation than with science,to their longtime loss
does anybody remember whether zn has had enough water in wells before to be used for the water content or for water monitoring- i dont remember any but i wouldnt know prior to 2009
both egypt and israel have had past plans for canals from the Mediterranean to bring water to the desert-in egypt the Qattara depression and in israel to the dead sea
wars are already being fought over water and such will increase,just as japan preemptively attacked the usa in an attempt to secure resources, for japan itself was resource deficient
good to see israel increasingly using desalination plants to help with the kinneret lake
emphasis added
Zion Oil & Gas Operational Update on Megiddo-Jezreel #1 Well in Israel
DALLAS and CAESAREA, Israel, November 20, 2018 /PRNewswire/ -- Zion Oil & Gas, Inc. (NASDAQ: ZN ) announces that it has completed the testing program of its primary zones located within the Jurassic and Cretaceous-age Formations of the Megiddo-Jezreel #1 (MJ #1) well.
As a result of the testing, Zion has determined that the well is not commercially productive.
Zion’s Chief Executive Officer, Dustin Guinn commented, “Unlike the lower Triassic zones, two of the multiple zones we tested wi thin the Middle Jurassic and Cretaceous had sufficient permeability and porosity to flow to surface, as outlined below:
1. Zone 1:
a. 3,468-3,461 meters would not flow naturally to surface. The fluid characteristics obtained while swabbing indicated high chloride brine.
2. Zone 2:
a. 3,455-3,446 meters would not flow naturally to surface. The fluid characteristics obtained while swabbing indicated high chloride brine.
3. Zone 3:
a. 3,325-3,310 meters would not flow naturally to surface. The fluid characteristics obtained while swabbing indicated high chloride brine.
4. Zone 4;
a. 1,784-1,775 meters flowed naturally and continuously to surface. The fluid characteristics obtained from monitoring samples taken while the well was flowing indicated low chloride water.
5. Zone 5:
a. 1,232.5 – 1,228 meters flowed naturally and continuously to surface. The fluid characteristics obtained from monitoring samples taken while the well was flowing indicated low chloride water.
The fluid did not contain hydrocarbons, and further testing at this time is not warranted. Zion is currently in discussions with the Israeli government on plugging obligations. Given the thermal gradient, flow rates, surface pressure and low salinity, certain ministries within the Israeli government have made requests of Zion concerning the use of the well as a water monitoring well. Zion will review the economic impact and obligations as a result of this request to determine a prudent plugging plan.
While the well was not commercially viable, Zion has learned a great deal from the drilling and testing of this well. We refer to our previous press release and operational update of August 16 th , 2018 where we outlined our testing objectives relating to this well. We believe that the drilling and testing of this well carried out the testing objectives we previously outlined and may support further evaluation and potential further exploration efforts within our License area. Those efforts will obviously take time and support and additional financial resources, which we will need to raise, but we are confident that it will be time and resources well spent to deliver on Zion’s mission and the vision of supporting Israel.
Management, along with all of our staff, want to sincerely thank you for your continued support. There is much left to do, and it is an honor to represent our shareholders in this mission.”
“But everything exposed by the light becomes visible and everything that is illuminated becomes a light”
Ephesians 5:13
“That your faith should not stand the wisdom of men, but in the power of God”
1 Corinthians 2:5
FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion’s planned operations, anticipated attributes of geological strata that may be drilled or tested in the future, our ability to raise additional funds in amounts adequate to support further exploration efforts in our license areas, operational risks in ongoing exploration efforts, timing and potential results thereof and plans contingent thereon are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
Contact Info:
Zion Oil & Gas, Inc. (NASDAQ: ZN )
12655 North Central Expressway, Suite 1000, Dallas, TX 75243
Andrew Summey
Telephone: 888-891-9466
Email: andrew.summey@zionoil.com
www.zionoil.com
