Zion Oil & Gas Inc (ZNOG)

[tisdal]

The Facts

There are 4+ Million shares short Zion as of May 15; Short interest as of May 31 reported tomorrow at COB

9% of Zion's share are held by institutions as of March 31; a 48% increase since Dec 31.

7500 PSI Bottom Hole Pressure
MJ#1 is an HPHT Well
Zion has enough money to finish testing and analyzing the MJ#1
Results of three primary zones of interest are weeks away
Zion will meet the Reporting requirements of the Megiddo-Jezreel License
Zion will report results of rights offering on an SEC Form 8

2018 ZION OIL & GAS ANNUAL MEETING OF SHAREHOLDERS – VIDEO

Zion encountered free-flowing hydrocarbons while circulating drilling mud.

Zion Oil & Gas Encounters Oil

Zion's CEO, Victor G. Carrillo, added, The logs appear to confirm what we know from seeing oil mixed in with the mud – that we encountered live oil in the deep portion of the well.

Zion Oil & Gas Successfully Drills, Logs, and Cases Deep Israel Well

Zion's President and Chief Operations Officer, Dustin Guinn, stated, "Our geoscience team has done a great job of working with our third party petrophysical contractors to evaluate our wireline logs to identify multiple zones about which we are excited. The live oil encountered in the well is obviously an exciting development, but having what we believe to be confirmatory log analysis only adds to my enthusiasm.

Zion Oil & Gas Mobilizes Equipment to Israel for Well Testing Operations

Zion’s President and Chief Operations Officer, Dustin Guinn, stated, “After extensive well preparation, rig up and endurance testing of our service provider’s imported well testing equipment, which includes additional well control equipment, flare stacks, separation units, slick line unit, stimulation and storage equipment, we are ready to begin the highly anticipated testing and flow back of the MJ #1 well.

... Zion has just surpassed one year without a recordable incident, a great achievement ...

... we expect basic testing to require approximately 7-10 days per zone to perforate, run tubing, monitor flow, stimulate and resume monitoring flow ...

Press Release: Zion Oil & Gas Operational Update on Megiddo-Jezreel #1 Well in Israel

Zion Oil & Gas, Inc. (NASDAQ: ZN) announces that it has successfully drilled its Megiddo-Jezreel #1 well to a total depth of 5,060 meters (~16,600 feet). Zion also successfully obtained three open-hole wireline log suites (including a formation image log). The well has also been cased and cemented in preparation for upcoming testing of multiple zones of interest, including zone(s) where free-flowing hydrocarbons were collected after circulating mud in the borehole.

We also recognize that the goal of this well was to find oil, and we can say with absolute confidence that we were successful in attaining that goal. The next crucial step is being able to effectively test and establish the well’s commerciality. I am excited about this phase as it will be a crucial and historic moment for Zion and its shareholders.

Zion Oil & Gas Successfully Drills, Logs, and Cases Deep Israel Well