Zion Oil & Gas Inc.
07/18/2024 | Press release | Distributed by Public on 07/18/2024 11:56
🇮🇱 Zion Oil & Gas Update: July 18, 2024
July 18, 2024
Dear Zion Shareholders and Supporters,
As of the writing of this update, field operations remain on schedule, and our rig is now positioned over the MJ-01 wellbore. Repairs and maintenance, as well as the inspection of the rig, have all been completed successfully. All necessary wireline equipment for the project has been mobilized with additional essential items from India, China, Romania and Greece currently in transit for the final stages of operation.
Lord willing, this week will mark a significant milestone, as we actually re-enter the MJ-01 wellbore. This initial phase of the recompletion project involves drilling out the plugs and nearly 625 meters (approximately 2,050 feet) of cement in the well. This process should take us to the end of the month, at which point we will run a series of wireline tests and casing integrity tests to ensure that the wellbore has withstood the past six years of high temperatures.
If all goes as expected, we will then proceed with the perforation, stimulation, and well testing portion of the project. Based on our planning and careful preparation, we hope and anticipate the project will move toward completion at a reasonably efficient pace at that stage. Please note, of course, that the ongoing conflict in the north of Israel may cause unexpected changes to our schedule, so we will need to remain flexible.
Your prayers and support are invaluable as we press forward in these unprecedented times. We are excited for the future and will share more updates with you in the coming weeks.
Thank you all for being such an integral part of our journey for Israel's oil.
Robert Dunn
CEO
Monty Kness
VP of Operations
"Have I not commanded you?
Be strong and courageous.
Do not be afraid;
do not be discouraged,
for the Lord your God
will be with you wherever you go."
Joshua 1:9
For each $250.00 UNIT you receive:
- Common stock at the average of the high and low sale price on OTC: ZNOG for the day if purchased before 4:00pm EST. Purchases after 4:00pm EST will receive the following day's high-low average.
- 50 Warrants with an exercise price of $0.25 each.