microcaps1 and KyOil, agree, testing would be complete
... if the well was not leading to a commercial discovery. Zion would have closed it out to save cash for next well. We are in the Analysis phase. I believe the secondary zones have been tested as well. IR stated that they did not release a PR due to an operational change that took place. I believe that operational change was moving to test the 2 secondary zones.
IMHO, the thinking was Israel gave us grace with respect to the field development plan that was due on June 30. It may have even been stipulated that the next report will be a complete final report on the discovery based on complete testing results accompanied by a complete final field development report. It may also include Zion's application for a 30/50 year production lease. This may be the why its taking so long. The Israeli Energy Ministry may have stipulated that yes, you can have the extra time but lets have you submit everything at once in its final form. They simply do not want to drag out the reporting.
We also are probably at the point where the Israeli Authorities are reviewing said documentation and application, Zion is responding to resulting inquiries, and waiting for final approval. I know for a fact that some of the delay in starting testing was due to the amount of time taken for Israel to review the test proposal. I can only imagine the time to review test results, final development plans, resulting in approval of a production lease application.
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