DALLAS, Dec. 1, 2016 /PRNewswire/ -- Zion's vision is to
help ensure Israel's political and
economic independence by finding and producing onshore oil or
natural gas. The potential reality is not far-fetched. As reported
by Israel's Energy Ministry in
Houston yesterday, a recent,
independent study by the international consulting company
Beicip-Franlab found that up to 6.6 billion barrels of oil remain
to be found in Israel's Levant
Basin. Zion's 99,000-acre license is within the Levant Basin.
While Israel is not able to
currently meet their energy needs domestically, few companies are
well positioned to take advantage of the demand for energy. One
such company is Zion Oil & Gas and Zion is ready to seize the
opportunity to help supply the growing need for energy in
Israel.
"We are 'all hands on deck' moving toward the goal of preparing
the drill site for construction to move the drilling rig in to spud
the well," said Victor Carrillo,
Zion's CEO. "Yesterday, we met with Petroleum Commissioner
Yossi Wurzburger in Houston to personally express our appreciation
for his understanding of the unique challenges we face exploring
for oil in Israel."
"Our teams in Israel and
the United States have remained
focused with the purpose of aggressively moving forward with the
project," said Dustin Guinn, Zion's
President. "Our project team, inclusive of operations, exploration,
finance and accounting and administrative have diligently proceeded
with the intent that, pending funding, we should easily meet the
deadlines outlined by the Israeli Petroleum Commissioner."
Zion, a public company traded on NASDAQ (ticker - ZN) offers a
free informational brochure with a 30-minute documentary film to
anyone who requests one and provides investors a way to invest
directly online through their website - www.zionoil.com.
Media Contact:
Andrew Summey
Phone: +1-214-221-4610
Email: andrew.summey@zionoil.com
Web: www.zionoil.com
Facebook: facebook.com/zionoil
Twitter: twitter.com/@zionoil
Zion is dedicated to exploring for oil and gas onshore
Israel and is 100% focused on its
Megiddo-Jezreel License, a large area south and west of the Sea of
Galilee that includes the Jezreel and Megiddo valleys. This license
gives Zion the exclusive right to explore in an area of
approximately 99,000 acres that appears to possess the key geologic
ingredients of an active petroleum system with significant
exploration potential.
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SOURCE Zion Oil & Gas