Current Report Filing (8-k)
February 26 2018 - 6:14AM
Edgar (US Regulatory)
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
February
26, 2018
Date
of Report (Date of earliest event reported)
Zion
Oil & Gas, Inc.
(Exact
name of registrant as specified in its charter)
Delaware
(State
or other jurisdiction of incorporation)
001-33228
|
|
20-0065053
|
(Commission File Number)
|
|
(IRS Employer Identification No.)
|
12655
North Central Expressway, Suite 1000, Dallas, TX 75243
(Address
of Principal Executive Offices)
Registrant's
telephone number, including area code: 214-221-4610
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
☐
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
☐
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
☐
|
Pre-commencement
communications pursuant to 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Zion
Oil and Gas, Inc., a Delaware corporation, which has an active petroleum exploration license onshore Israel, the Megiddo-Jezreel
License (“MJL”), comprising approximately 99,000 acres,
announces
that it has successfully drilled its Megiddo-Jezreel #1 well to a total depth of 5,060 meters (~16,600 feet). Zion also successfully
obtained three open-hole wireline log suites (including a formation image log). The well has also been cased and cemented in preparation
for upcoming testing of multiple zones of interest, including zone(s) where free-flowing hydrocarbons were collected after circulating
mud in the borehole.
Zion’s
President and Chief Operations Officer, Dustin Guinn, stated, “We are extremely pleased with the completion of drilling
of the MJ #1 well. While it may have taken longer than we would have liked, we had more than 119,000 man-hours with zero recordable
incidents while drilling more than three miles into the earth. On a wildcat exploration well, this is an achievement in which
all involved should take pride. We also recognize that the goal of this well was to find oil, and we can say with absolute confidence
that we were successful in attaining that goal. The next crucial step is being able to effectively test and establish the well’s
commerciality. I am excited about this phase as it will be a crucial and historic moment for Zion and its shareholders.”
Zion’s
CEO, Victor G. Carrillo, added, “The logs appear to confirm what we know from seeing oil mixed in with the mud – that
we encountered live oil in the deep portion of the well. We still await a full interpretation of the image log obtained in our
last logging run to ascertain fracture location and intensity. Our interpretation, supported by third party petrophysical analysis,
shows multiple zones exhibiting key properties that we will test for production capacity. We cannot comment on the well’s
capacity for commercial production until after we conduct and analyze our well testing protocol, which we anticipate to take place
in April. We will endeavor to provide further updates as material information becomes available.”
Item 9.01
|
Financial
Statements and Exhibits.
|
(d)
Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereto duly authorized.
|
Zion
Oil and Gas, Inc.
|
|
|
|
Date: February
26, 2018
|
By:
|
/s/ Victor
G. Carrillo
|
|
|
Victor
G. Carrillo
|
|
|
Chief
Executive Officer
|
Zion Oil and Gas (QB) (USOTC:ZNOG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Zion Oil and Gas (QB) (USOTC:ZNOG)
Historical Stock Chart
From Apr 2023 to Apr 2024