Zion Oil & Gas Announces Gas to Surface Onshore in Israel During Initial Flowback
Zion Oil & Gas (OTC: ZNOG) has reported successful initial flowback operations at its Megiddo-Jezreel #1 (MJ-01) well re-entry in Israel, with gas reaching the surface.
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Rhea-AI Summary
Zion Oil & Gas (OTC: ZNOG) has reported successful initial flowback operations at its Megiddo-Jezreel #1 (MJ-01) well re-entry in Israel, with gas reaching the surface. The company has completed perforation and stimulation operations successfully, marking a significant milestone in their exploration efforts.
The well is currently undergoing stimulation fluid recovery and cleaning. Zion is actively working to secure additional equipment to continue flowback testing and conduct volumetric analysis to evaluate reservoir characteristics, as part of their ongoing assessment of the well's production potential.
Positive
- Successfully achieved gas to surface during initial flowback operations
- Successful completion of perforation and stimulation operations
- Progress in well assessment indicates potential commercial viability
Negative
- Additional equipment still needed for continued testing
- Production volumes and reservoir characteristics yet to be determined
- Well still in early cleaning and recovery phase
Details
News Market Reaction – ZNOG
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Targeted perforation zone and stimulation operations are successful.
Perforation and stimulation operations were successfully completed, with gas observed at surface during early flowback.
The well is currently in the stimulation fluid recovery and cleaning phase. Zion is sourcing additional equipment for that to continue flowback testing and conduct volumetric analysis to evaluate reservoir characteristics.
These efforts are part of Zion's ongoing plan to assess the well's production potential.
About Zion Oil & Gas, Inc.
Zion Oil & Gas, a
For more information, visit www.zionoil.com.
"But you, O LORD, sit enthroned forever,
your renown endures through all generations.
You will arise and have compassion on Zion,
for it is time to show favor to her; the appointed time has come.
For her stones are dear to your servants;
her very dust moves them to pity.
The nations will fear the name of the LORD,
all the kings of the earth will revere your glory.
For the LORD will rebuild Zion and appear in his glory.
He will respond to the prayer of the destitute;
he will not despise their plea.
Let this be written for a future generation,
that a people not yet created may praise the LORD"
Psalm 102:12-18
Contact:
Andrew Summey
VP, Marketing and Investor Relations
Zion Oil & Gas, Inc. (OTC: ZNOG)
12655 North Central Expressway, Suite 1000,
Telephone: 888-891-9466
Email: info@zionoil.com
www.zionoil.com
FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion's operations or any disruptions thereto and the results therefrom, including timely testing and completion; timely availability, shipment, and receipt of necessary equipment and rig crews; Zion's ability to discover and produce oil and/or gas in commercial quantities; Zion's ability to continue as a going concern; operational risks in ongoing exploration efforts including timely resolution of supply and operational disruptions; regulatory approvals, including necessary and timely work visas for crews, needed for exploration within our license and the rig's operation; the effect of the uncertainties and potential delays associated with wars and skirmishes between
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SOURCE Zion Oil & Gas, Inc.
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