DALLAS and CAESAREA, Israel, March
28, 2018 /PRNewswire/ -- Zion Oil & Gas, Inc.
(NASDAQ: ZN) announces that it has finalized procurement
details for equipment and personnel needed to commence well testing
on its Megiddo Jezreel #1 (MJ #1) well. Zion also announces
that its Annual Shareholder Meeting will be held on Tuesday, June 5, 2018 at the Westin Dallas Park
Central, 12720 Merit Drive, Dallas,
Texas, at 2:00 CST, and would
like to invite each of our shareholders to attend.
Zion's President and Chief Operations Officer, Dustin Guinn, stated, "Our geoscience team has
done a great job of working with our third party petrophysical
contractors to evaluate our wireline logs to identify multiple
zones about which we are excited. The live oil encountered in
the well is obviously an exciting development, but having what we
believe to be confirmatory log analysis only adds to my
enthusiasm. In parallel to our geoscience work, we are
pleased to have secured all the equipment necessary to safely and
comprehensively test our MJ#1 well. The majority of this
equipment was sourced from the
Netherlands, and barring any unforeseen delays, will arrive
in Israel soon after Passover,
allowing us to commence testing operations in late
April."
Zion's CEO, Victor G. Carrillo,
added, "We, like our shareholders, are anxious to know whether the
MJ #1 well will be a commercial success and we thank you for your
patience. We recognize that it can be distracting when there are
false rumors being spread about Zion. We are aware of these
untruths and we deny and rebuke them (Isaiah 54:17). Thank you for
your steadfast support and I hope to see many of you at our
Dallas shareholder meeting in
June. May you and your families have a blessed Passover
(Pesach) and Easter season."
"He is not here, but is risen!" Luke
24:6
"In His hand are the deep places of the earth
…" Psalm 95:1-7
FORWARD-LOOKING STATEMENTS: Statements in this communication
that are not historical fact, including statements regarding Zion's
planned operations, anticipated attributes of geological strata
being drilled, the presence or recoverability of hydrocarbons,
operational risks in testing and well completion, timing and
potential results thereof and plans contingent thereon are
forward-looking statements as defined in the "Safe Harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on assumptions that are
subject to significant known and unknown risks, uncertainties and
other unpredictable factors, many of which are described in Zion's
periodic reports filed with the SEC and are beyond Zion's control.
These risks could cause Zion's actual performance to differ
materially from the results predicted by these forward-looking
statements. Zion can give no assurance that the expectations
reflected in these statements will prove to be correct and assumes
no responsibility to update these statements.
Contact Info:
Zion Oil & Gas, Inc. (NASDAQ: ZN)
12655 North Central Expressway, Suite 1000, Dallas, TX 75243
Andrew Summey
Telephone: 888-891-9466
Email: andrew.summey@zionoil.com
www.zionoil.com
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SOURCE Zion Oil & Gas, Inc.