They could very well have missed the economic reservoir on MJ01. With the fault lines being a prominent structure in the valley a stratigraphic trap is likely and if so they may have tapped into a “transition zone” of oil and water. While going deeper they found almost 100% high and low chloride brine. Very common with this type of trap. Above the water zone is the pay zone but maybe dipping further east. The acid stimulation was “small” on MJ01 so I don’t think they were able to tap into the economical zone. Cutting the fault with the wellbore can prove this and indeed they did say many questions posed in the 11/18 PR were answered by the 3D. All the core and rock samples, wireline, etc.
Now, being that they have such a massive data set in totality there is a very very high probability they are right on target and even though the formation rocks provided little natural fractures and low porosity at 16k feet on MJ01 we don’t know yet whether they found the Senonian aged rocks in MJ02. Any acidification done now will be substantially based on all data and I’d be remiss if they weren’t going WOT on this well to ensure the best chances of EROI.
On MJ01 they had a “little oil”. On MJ02 they found “encouraging hydrocarbon shows” of a Type 1 Continuous flow imho. If we had more information we could outline more details but alas, we can only speculate with what little clues we’ve gleaned.
Suffice it to say, every little nugget of truth from hydrocarbons shows to completion liners and license extensions based on Reg.18(b)(2) tells me they have a discovery most definitely.
From PR:
“The new exploration license filing will further the current and future work plans in Israel. Simultaneously with the new exploration license filing, Zion has submitted a petition seeking administrative approval of a term of three-years for the #428 exploration license under Israel’s petroleum law.”
From Pet. Law referenced above:
“Where the licencee has made a discovery in the licenced area, the
Commissioner shall extend the term of the licence for such time as will give the licencee a sufficient period, not exceeding two years, within which to define the petroleum field.”
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