Replies to post #54162 on Zion Oil & Gas Inc (ZNOG)

[Cooldeliosis]

Now we’re getting back to what this board is intended for!
With recent advances in energy technology, oil reserves which were previously inaccessible and too expensive to extract are now being able to be developed. Zion Oil & Gas recently announced its interest in developing a large shale oil deposit 30 miles west of Jerusalem. These deposits comprise the 3rd largest shale oil reserve in the world and expect to yield 250-500 billion barrels of oil. Many experts believe that Israel has a volume of oil in this reserve and other undiscovered shale oil reserves equivalent to that of Saudi Arabia.
Licenses are granted subject to demonstrating capabilities such as financing ability, experience and reputation. Given the recent developments, Israel has been more stringent in what companies it gives licensing rights to, given the rapid increase in applications.