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Zion Oil & Gas Israel drilling update

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Oilfield Technology,

Zion Oil & Gas, Inc. continues active drilling operations at its Megiddo-Jezreel #1 well in Israel, near the eastern border with Jordan. As of today, Zion has reached a depth of approximately 9200 ft (~2800 m) toward a possible total depth of up to ~15 000 ft.

Zion’s CEO, Victor Carrillo, says, “In late August, our President (Dustin Guinn), Senior Geoscience Advisor (Dr. Lee Russell), and I traveled to Israel to assess ongoing drilling operations at Zion’s MJ #1 well. After running a suite of wireline logs up to the level of our prior logging run, we set a Halliburton Versa-Flex Liner Hanger and cemented the 9 5/8 in. casing string to ~1997 m.”

Carrillo further states, “Enhanced petrophysical analysis of our wireline logging suites by an independent third-party company provides evidence of having penetrated hydrocarbon zones. However, we are not able to comment on the volume, producibility or commerciality of the zones until after we finish drilling and testing the zones of interest. We also have yet to penetrate a key objective zone. Tomorrow begins the Jewish Fall Feasts holiday season, which will slow our drilling operations as we respectfully observe these upcoming high holy days:

Rosh Hashana (Feast of Trumpets); Yom Kippur (Day of Atonement); and Sukkot (Feast of Tabernacles).”

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