Zion Oil & Gas Inc (ZNOG)

[JRyan]

Oil in the Levant Basin (onshore)

If there is all this wonderful oil just waiting to be discovered in the area, then why did all of the large international oil companies never show any interest in the area for the past 30+ yrs? They didn't get large by avoiding places where oil is located. What companies with working non-dry wells are on the directly adjacent land to ZN's concession? There seems to be none.

In 1979, James Wilson (then the former chief geologist of Shell Oil Company,) prepared a report for the Israeli government that estimated that the onshore reserves potential of the country (excluding the Dead Sea area) was 330 million to 2 billion barrels. In northern Israel very little exploratory drilling has been undertaken, and ZEBI believes the Valley of Jezreel and Megiddo is full of oil and gas and will prove to be a great field, changing the destiny of a nation.

Ok ok it was 38 years so you are right. Good thing Shell Oil never said there was onshore oil within Israel. Yeah that is just fake news.


Yes no oil there, discounting Givot as they too never found any either..

Ignore this as it is also fake news:

In 2009 the Meged 5 well was drilled and commercial quantities of high quality crude oil (API 39-40) were produced. Production started in 2011 and continues until today. Cumulative production from Meged 5 is 700,611 barrels (approx. 110,681 m3) as of 31.03.2015.

What about the Negev?



www.jta.org/1987/03/17/archive/oil-discovered-in-the-negev

Yes no Oil there at all:





So one can complain all they want but the facts are that there IS oil onshore within the state of Israel.The issue is that Zion Oil and Gas has yet to find any and is now in the struggle for the life of the company. Attacks aside this is a real struggle and it is not all about oil.