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Posted On: 11/12/2021 3:29:13 AM
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November 11, 2021
Update: MJ02 In Israel
Dear Zion Supporters and Shareholders,
Thank you for your patience and perseverance.
Active drilling of the Megiddo-Jezreel #2 (MJ02) project continues unimpeded. We are making progress toward drilling to total depth what will soon be, by God's grace, a significantly deeper well than the MJ#1 well.
We are currently in the fourth and final section of well. This section contains multiple areas of potential interest. All necessary well testing equipment is now on location, and the testing crew's visas have been approved and issued by the authorities. The testing program has been submitted to the regulatory body and should commence in this quarter.
We are in continuous dialog with Israel's Energy Ministry concerning the timeline for testing, and based on the testing, completion of the MJ02 well.
We are continually thankful for our loyal shareholders and supporters. We will provide material 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, including testing and completion; 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.
November 11, 2021
Update: MJ02 In Israel
Dear Zion Supporters and Shareholders,
Thank you for your patience and perseverance.
Active drilling of the Megiddo-Jezreel #2 (MJ02) project continues unimpeded. We are making progress toward drilling to total depth what will soon be, by God's grace, a significantly deeper well than the MJ#1 well.
We are currently in the fourth and final section of well. This section contains multiple areas of potential interest. All necessary well testing equipment is now on location, and the testing crew's visas have been approved and issued by the authorities. The testing program has been submitted to the regulatory body and should commence in this quarter.
We are in continuous dialog with Israel's Energy Ministry concerning the timeline for testing, and based on the testing, completion of the MJ02 well.
We are continually thankful for our loyal shareholders and supporters. We will provide material 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, including testing and completion; 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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