for technical reasons described on this board and for other reasons i think they have a commercial field somewhere
it does not make sense to assume -as many did -that there was no commercial oil
when,due to logistical and mechanical delays,only a short period of flow testing,the 3rd level of testing,had been partially performed and only in 1.5% of the well!!!
"Zion has only tested approximately 220 feet of a well that was drilled to a total depth of over 16,600 feet, or less than 1.5% of the total measured depth."
Zion Oil & Gas Launches a New Unit Program to Support Additional Testing Required to Evaluate Reservoir Potential
Zion Oil & Gas Administrative Update
DALLAS and CAESAREA, Israel, August 21, 2018 – Zion Oil & Gas, Inc. (NASDAQ: ZN) gives further guidance of operational and administrative plans as it announces a new Unit Program under its ongoing Direct Stock Purchase Plan (DSPP).
“Following up on the detailed operational update that was released on August 16th, we reiterate the fact that there is a lot of work left to be done to determine the commerciality of the Megiddo-Jezreel #1 (MJ #1) well,” says Dustin L. Guinn, Zion’s President and Chief Operations Officer.
Zion has only tested approximately 220 feet of a well that was drilled to a total depth of over 16,600 feet, or less than 1.5% of the total measured depth. Zion emphasizes that there are multiple zones that may be capable of yielding material amounts of hydrocarbons over the 16,000 feet of geologic column not yet tested. We believe it is imperative to further explore the well’s potential based upon independent 3rd party petrophysical analysis that suggests the existence of hydrocarbons within MJ #1.
Imo. Do your dd before investing. I'm not a financial adviser nor compensated for my posts. They don't believe what they say, so why should you?
