Good things are coming! Exciting moment to be a part of Zion Oil and Gas as we bring energy independence to Israel - Zion Oil and Gas (Facebook Page)
The MJ#1 is a VERY important well for Israel. - Dustin Guinn - President and COO of Zion Oil and Gas
We also recognize that the goal of this well was to find oil, and we can say with absolute confidence that we were successful in attaining that goal. The next crucial step is being able to effectively test and establish the well's commerciality. I am excited about this phase as it will be a crucial and historic moment for Zion and its shareholders. - Dustin Guinn - President and COO of Zion Oil and Gas
Zion's President and Chief Operations Officer, Dustin Guinn, stated, "We are extremely pleased with the completion of drilling of the MJ #1 well. While it may have taken longer than we would have liked, we had more than 119,000 man-hours with zero recordable incidents while drilling more than three miles into the earth. On a wildcat exploration well, this is an achievement in which all involved should take pride." - STRAIGHT UP!!
First two of the 5 x 5's are coming: ** THIS IS SPECULATION!! **
Zion Oil and Gas in Cooperation with the Nation of Israel Announces the Oil of Israel.
- MJ#1 has discovered 5 different productive zones. - The deepest zone is immediately producible through MJ#1 - Zion's test results estimate at least 50Bbbls in the oil field. - Zion estimates a $50 NetBack per barrel. - The MJ#1 will move to production while Zion begins drilling MJ#2,3,4,5, ETC. to gain access to the other 4 zones of production. - Zion will be required to raise another $50M to complete these tasks. - All financing will be provided by the Nation of Israel under favorable but undisclosed terms. - As a condition of this financing, Zion Oil and Gas is happy to announce that the Israeli Petroleum Commissioner has accepted a seat on the Board of Directors for Zion Oil and Gas.