Zion Oil & Gas Inc (ZNOG)

[axle777]

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What’s the straight and simple story on progress to date?

Zion Oil & Gas, Inc.
September 25, 2018 at 9:14 am · Reply

From Previous Press Releases:

(8/16/2018) The MJ #1 has successfully demonstrated the existence of an active petroleum system. Oil has been encountered which we believe confirms that mature source rocks have expelled hydrocarbons that have migrated into a trap which was drilled by MJ #1; and
There are multiple identifiable targets and objectives that have been observed based on drilling, testing, and petrophysical analysis, which we have yet to test.

(8/21/2018) 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 the 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.

(9/7/2018) Zion’s petrophysical analysis, in conjunction with observations, while drilling the MJ #1 well, has identified five additional primary zones of interest above the Mohilla formation that, contingent upon adequate financial resources, Zion plans to test. As has been previously reported, there are naturally fractured carbonates in the shallower zones that have effective reservoir potential. That, coupled with internal and 3rd party petrophysical analysis of Zion’s open hole logs, gives Zion optimism and confidence to proceed with further testing, and Zion believes that it is imperative to test these zones of interest.