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Posted On: 07/27/2021 8:05:58 AM
group email to those who singed up to receive email updates
0.July 26, 2021
Update: MJ02 In Israel
Dear Zion Supporters and Shareholders,
We are happy to report that operations at the Megiddo-Jezreel #2 (MJ02) well site continue and remain on a path to reach our desired depths and target zones. As recent operational work has been challenging, our geologists and engineers are continuing to put in exceptional time and effort in overcoming unique obstacles. We thank them for all they have done to maintain the MJ02 project goals.
Our operational team encountered significant difficulties to keep proper stability with a shale formation during recent drilling.
Now, we have moved forward with adjusted drilling parameters that enable us to keep shale integrity as we move toward our zones of interest. Despite our extended drilling schedule, Zion Oil remains committed to doing this work properly and safely as we, with patience, get closer to the finish line.
We are thankful to our loyal shareholders and supporters. We will continue to provide updates when we have relevant information to share with the public.
Sincerely,
Rob Dunn, Zion CEO
FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations and the results therefrom; Zion's ability to discover and produce oil in commercial quantities; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts; the timing and completion of the processing, interpretation of the results and plans contingent thereon of the 3-D seismic survey; regulatory approvals needed for the rig’s operation; the effect, if any, of the coronavirus pandemic on the timing of the operation of the well, and liquidity for shareholders on OTCQX 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. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. 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.
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0.July 26, 2021
Update: MJ02 In Israel
Dear Zion Supporters and Shareholders,
We are happy to report that operations at the Megiddo-Jezreel #2 (MJ02) well site continue and remain on a path to reach our desired depths and target zones. As recent operational work has been challenging, our geologists and engineers are continuing to put in exceptional time and effort in overcoming unique obstacles. We thank them for all they have done to maintain the MJ02 project goals.
Our operational team encountered significant difficulties to keep proper stability with a shale formation during recent drilling.
Now, we have moved forward with adjusted drilling parameters that enable us to keep shale integrity as we move toward our zones of interest. Despite our extended drilling schedule, Zion Oil remains committed to doing this work properly and safely as we, with patience, get closer to the finish line.
We are thankful to our loyal shareholders and supporters. We will continue to provide updates when we have relevant information to share with the public.
Sincerely,
Rob Dunn, Zion CEO
FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations and the results therefrom; Zion's ability to discover and produce oil in commercial quantities; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts; the timing and completion of the processing, interpretation of the results and plans contingent thereon of the 3-D seismic survey; regulatory approvals needed for the rig’s operation; the effect, if any, of the coronavirus pandemic on the timing of the operation of the well, and liquidity for shareholders on OTCQX 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. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. 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.
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