Zion Oil & Gas Inc (ZNOG)

[Moses1492]

Very Good Report! They CHANGED their drilling schedule to test and case the last several hundred METERS (1 thousand feet or more? wow!) Aweseome report:
Senior Geoscience Advisor, Dr. Russell explains, “Recent drilling over the last few hundred meters suggests the possible existence of a highly fractured carbonate section in the Jurassic, which presents optimism for potential reservoir characteristics. Carbonate reservoirs are prominent in the Middle East, with around 70% of oil and 90% of gas reserves held within these reservoirs. Based on the evidence of existing fractures, we are eager to see what the next logging run will show us. There are multiple zones of interest through which we still plan to drill and evaluate as we drill towards our total depth.”

Zion President, Dustin Guinn, adds, “Given the formation characteristics that can be expected with highly fractured carbonates, we made the decision, to insure safety and well integrity, to case this interval at a shallower depth than previously anticipated. While this is a change to the drilling program, it is not expected to materially affect the expected total depth to which we hope to drill. I am also excited about the formation characteristics and while it may present drilling challenges, it may also present reservoir characteristics that are intriguing.”