Interesting facts regarding MJ#01 findings from a saved post:
Let's look at Zion's 7days of released information.
Believe it or not, this is where Zion investors get 100% of their information.
Things have changed rapidly over the last 7 days. Let's take a look.
Zion is currently under the microscope of the SEC, yet they are using terms in two consecutive SEC filings that we, the faithful investors in Zion $ZN, only dreamt of hearing when they spudded this WILDCAT MJ#1 well.
Zion Oil & Gas Confirms ACTIVE PETROLEUM SYSTEM in Megiddo-Jezreel #1 Well In Israel
Support Additional Testing Required to Evaluate RESERVOIR Potential
Due to the VERY HIGH WELL TEMPERATURES, these packers would only last, on average, approximately five days.
HIGH PRESSURES required better well control BOP.
Zion Oil & Gas, Inc. (“Zion” or “Company”) has appointed John T. Seery to its Board of Directors (“Board”) as an independent director, effective September 1, 2018.
Mr. Seery has over forty years’ experience in the project management and DESIGN OF OIL AND GAS FACILITIES. Projects have included refining, gas processing, compressor stations, terminals, production and construction facilities. His scope has ranged from feasibility and conceptual design and studies, including cost estimating, detail design, procurement, startup and project and construction management.
As for the SEC investigation:
The SEC has asserted no accusation of wrongdoing nor have they expressed any negative opinion of any person within Zion. Zion continues to fully cooperate with and work with the SEC in the provision of requested information.
Following Zion's disclosure of the SEC investigation, Zion became aware of a number of law firms who allege they are investigating Zion's compliance with federal securities laws and are soliciting clients. To our knowledge, only one lawsuit has been actually filed in federal district court, but to date, Zion has not been served with formal notice of litigation. We believe these claims are frivolous and without merit, and we will wage a vigorous defense.
Recent Question and Answer Session with Zion IR
These statements or announcements are all found in Zion's SEC filings from the last 7 days between August 15 - August 21 (except for the high pressure SEC filing which occurred last year when they had to find a better and more powerful well control capability (including BOP) due to High Pressure witnessed in the well)
In 7 days, everything has been turned on its head due to these very powerful statements made in their SEC filings. It appears that Zion does have an HPHT Well and all the challenges that come with it. Yet they remain confident that their independent 3rd party petrophysical analysis suggests the existence of hydrocarbons, and therefore, continue testing of the primary zones, and attempt to enable flow from the bottom of the well.
Looking forward to Zion reporting the progress of testing on the High Pressure High Temperature MJ#1 Well.
Looking forward to further guidance with respect to the make up and size of the RESERVOIR they are looking at.
Looking forward to the actual flow numbers from the bottom of the well.
Looking forward to Zion testing the multiple secondary zones of interest where independent 3rd party petrophysical analysis suggests the existence of hydrocarbons.
IMHO - SOMETHING GREAT IS HAPPENING TO ZION $ZN
