Thursday, September 15, 2005

Ashers Foot Dipped in OIL




Zion Oil & Gas is a private U.S.-based corporation formed under Delaware corporation law, exploring for oil and gas in Israel on licensed and permitted areas of approximately 223,00 acres located onshore between Tel Aviv and Haifa.

The license is on trend with oil production in Syria and a recent oil discovery in Israel as shown in the Oil & Gas Journal map on the right. We have drilled one well and intend to drill more high-risk oil and gas exploratory wells on the license.

In the event of a commercial discovery, following recoupment of certain exploratory costs, we intend to donate 6% of our gross revenues from the license to two charitable trusts to be established by us, one in Israel and one in the U.S.
Click here to find out more about Zion Oil & Gas. Click the logo above from any page to return to the home page.

Ma'anit #1 Plugged Back to 4453 Meters (14,610 feet) and Six Zones Perforated for Production Testing.

August 12, 2005 - Zion's drilling contractor, Lapidoth Israel Oil Prospectors Corp., reached the total depth of 4,719 meters (15,482 feet) on July 14, 2005 in the re-entry and drilling of the Ma'anit #1 well, under the direction of Zion's executive vice-president Glen Perry and drilling manager Stacy Cude.

Since then the two lowest zones in the well were tested and found nonproductive. The well was plugged back to 4,453 meters (14,610 feet) and three zones of Anisian Age between 4,342 and 4,448 meters (14,245 and 14,593 feet) were swab tested through drill pipe with encouraging but inconclusive results.

A temporary plug was set in the casing above the Anisian and six different zones of Carnian Age between 3,828 and 4,028 meters (12,559 and 13,215 feet) were perforated for production testing.
Click here to see the latest information about our completion operations. Click here for an Israeli road map showing the location of the well.

Zion Oil Awarded 124,000 acre Asher Permit
August 9, 2005 - Zion was awarded the Asher Permit with Priority Rights, effective for an 18-month period commencing August 1, 2005. The Asher Permit, which was signed by the Minister on August 8, covers approximately 500,000 dunam (124,000 acres) and a two-stage work program has been proposed for this new addition.

The Minister has also signed the notice of addition of lands to the Ma'anit License, effective August 1, 2005. This addition is for 12,700 dunam (3,200 acres), which brings the total acreage in the Ma'anit License to 99,000 acres. Click the image to the right to view outlines of the new Asher Permit and additional lands. More information about the location, geology and work program for the Permit and License area are in our
Location & Geology Page.


Blog Archive