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Hydrocarbons = oil X commercial reservoir + PPS = cash and gas. (Smile)
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Data from MJ#01. MJ#02 is drilling from the same pad with a much bigger drill
Did We Find Oil?
1 We encountered oil at a depth of between 16,415 ft and 16,500 ft during drilling operations, when we circulated bottoms up. The oil was separated and tested internally and externally through our mudlogging company’s chromatograph, indicating “Light Oil” based on the chemical composition of the analyzed stream.
For those who missed this article from ML#1 findings:
https://www.zionoil.com/updates/zion-oil-gas-confirms-active-petroleum-system-in-megiddo-jezreel-1-well-in-israel/
Now, MJ #02, drilling from the same pad, is starting testing. I wonder why they are testing zones of interest. Mmmmmm
Monroe 1 - Yes. That is going to be a day or rejoicing. (Smile)
Monroe1 - thumbs up
The very best to all investors
For new investors that may not know this information from MJ#01 well. MJ #02 is drilling from the same drilling pad with a larger drilling rig after 3D analysis tearing. In my opinion, this is good information.
https://www.zionoil.com/updates/zion-oil-gas-confirms-active-petroleum-system-in-megiddo-jezreel-1-well-in-israel/
BP - I will definitely buy more shares at Lower prices as available.
Lakota - smile
For new investors and old investors:
From MJ#01, Zion found the estimated flow rate of 90 to 120 barrels using third party petrophysical analysis, if my memory serves me correctly. They had light oil (the best) in the hole plus gas plus high heat. Albeit, it wasn’t enough volume for a commercial well. In my opinion, they grazed the commercial reservoir. But what do I know? With my reasoning, if they had hit the reservoir with MJ#01, they would have plenty of cash. Zion then performed 3D analysis research to see better below the surface, purchased a huge rig to go deeper and further using the same pad to launch from. Now, they are going to test what they have found with MJ#02. Mmmmmmm. I’m taking my initiative and connecting the known facts using my common sense and wisdom learned from DD with all the facts. This is my stance and my decision. Each of us investors have to arrive at our own decision. The very best to all investors in ZNOG.
J777S - yes. Agree. I like traveling on this journey with my investor friends.
Moses - interesting fact. I didn’t know this. Thanks
J777S - I concur with everything you say in this post. I feel exactly the same and am not concerned in the least. You are right - silence is golden. Incredibly golden. (Smile).
More drilling information:
https://www.capp.ca/oil/extraction/
Tisdal- as always, thank you for helping to keep the true facts in focus. Recently, someone commented that the MJ#01 well oil that was found as being identified as “indicating” light oil. Third party petrophysical reports do the findings, not ZNOG. Through their analysis they said it indicated light oil. Indicates means evidence suggests.
There is only one other oil class that could have been found classified as medium that can free flow. Both light and medium oil will free flow vertically, as I understand it. It really doesn’t make a difference except light oil is the best. No further testing of MJ#01 was needed since it wasn’t commercial and would have added cost. Make sense?
Reverend - me too.
MJ#01 finding:
Did We Find Oil?
1 We encountered oil at a depth of between 16,415 ft and 16,500 ft during drilling operations, when we circulated bottoms up. The oil was separated and tested internally and externally through our mudlogging company’s chromatograph, indicating “Light Oil” based on the chemical composition of the analyzed stream.
Wet good points, tisdal
Tisdal - thanks for posting facts.
Bones jones - thanks for sharing
BP - I agree. LB is our captain in charge of this vessel. I trust him. He’s the real deal.
Thanks, BP. There are a few folks on this board that need to research the historical aspect of drilling for oil. Some are really confused and this is not necessarily their fault. The lack of knowledge can impede a sound assessment of facts. Facts mixed with common sense are critical in my opinion. The very best to all investors. Go ZNOG $$$$
Kick Up - agree. I’m holding and loading in dips. Thanks, friend. The very best to all investors
alancg - you will find this intriguing. Thomas Edison’s failures were a positive with his incredible outlook and wisdom.
https://www.linkedin.com/pulse/greatest-inventor-thomas-alva-edisons-vision-failures-narayanan
married50 - you got it. Thanks.
IRisky - correction. Thumbs got in the way.
ITisky - thanks for reposting.
Can you please post the link(s) regarding this information
For those that missed this PR from two recent posts, please review below.
https://www.zionoil.com/updates/zion-oil-gas-confirms-active-petroleum-system-in-megiddo-jezreel-1-well-in-israel/
Essentially, pure oil out of the ground doesn’t exist. I found it very interesting doing research this evening what refining really entails. A fairly incredible process to separate out the pure products. The very best to all investors this week.
I found this great article regarding the refining of crude oil.
https://www.eia.gov/energyexplained/oil-and-petroleum-products/refining-crude-oil-the-refining-process.php
BP - the new business strategy is falling into place. I agree with you, BP.
Freedom - item #4
Following the circulation of the fluid after the stimulation job, we ran back in the hole and began to swab the well to attempt to see if the well would flow. As of the writing of this update, when swabbing, the data confirms the well artificially flows at a rate of approximately 90-110 barrels of fluid per day in the zone between 16,415 and 16,500 ft. We are still swabbing completion fluid as of this writing and the results of the well are inconclusive at this point as to whether the well will establish natural flow and what the volumetric contribution of oil and water will be.
BP - thanks for sharing.