Friday, April 29, 2022 4:43:32 PM
Maybe someone can tell me what OOIP stands for. Something about "Oil In Place" , but I do not know what the first 'O' stands for.
The range of total estimated prospective recoverable oil volumes for Zion’s prospect in the four target horizons ranges from 20.7 million barrels to 234.6 million barrels of oil. The “best estimate” (P50 case) for recoverable oil in the Mid Cretaceous is 27.8 million barrels, Upper Jurassic is 18.3 million barrels, Mid Jurassic is 17.9 million barrels and Triassic is 5.7 million barrels for a total “best estimate” for recoverable hydrocarbons at 69.7 million barrels, if a discovery is made.
Seismic mapping indicates the presence of a deep basin (Beit She’an sub-basin of the Dead Sea Rift basin), which could serve as a hydrocarbon “cooking pot” for potential source rocks. Deeply buried in the Dead Sea basin are rocks of the Mt. Scopus Group (Upper Cretaceous – Senonian), known to be the source of oil seeps on outcrops and shows in prior drilled wells. There are additional, but undocumented, potential source rocks in deeper levels in the Jurassic, Triassic, Permian and Silurian. Maturity modeling was performed on these rocks and the results support possible or probable sourcing of hydrocarbons from all of these rock sections under the assumptions applied.
With respect to the prior drilled wells in the Dead Sea area approximately 85 miles south of Zion’s proposed drill site, oil from the Emunah, Zuk Tamrur, Gurim, and Zohar fields as well as the Halamish well are thought to be sourced from the same Senonian age rocks with production from Permian, Triassic and Jurassic reservoirs. In the Dead Sea area, the current Hatrurim License partners plan to re-drill and deepen directionally the Halamish well to the projected center of the field. Genie Energy’s Israel subsidiary, Afek Oil & Gas, drilled several wells in the southern Golan, approximately 26 miles northeast of Zion’s proposed drill site, and recently announced a significant oil discovery in the Senonian age strata.
