IRisky
1 week ago
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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, Zion Oil & Gas, Inc.
Monty Kness
VP of Operations
Cooldeliosis
2 weeks ago
Not sure this means anything.
Zion Oil old License had 99000 acres
We are thankful to announce that we received an extension for our 99,000-acre Megiddo-Jezreel License for six months, from August 2, 2022, to February 2, 2023.
Zions new License has 75000 acres.
This exploration license 434, similar to Zion’s previous exploration licenses, will be valid for three years until September 13, 2026, with the option of four 1-year extensions for a total of seven full years until September 13, 2030. This new license includes approximately 302 square kilometers or about 75,000 acres.
Bruce_Mcdonalds
2 weeks ago
I think the new and improved fracking fluid is just a marketing claim by the various oil services companies involved, where each oil service company advertises they have the best fracking fluid ever devised by man. About 20 years ago, I was visiting Halliburton engineering in Oklahoma regarding some fracking pumper equipment they were manufacturing, so I asked the obvious question when I saw their tanker trucks lined up in the storage yard - what do they use for fracking fluid? They told me that the composition of the fracking fluid was top secret, that all service companies in the business used a different proprietary mix, but that it was mostly water with additives that increased the fracking power of the water (perhaps a jell) and wouldn't damage the equipment. In addition, Haliburton's fracking fluid was the absolute best, and this was before the "green movement", but he stated the fluid/water was designed to evaporate away after they finished, leaving no chemicals or any detectable chemical residue behind in the hole. Apparently, that was a big thing 20 years ago, as I assume it still is to this day.
So, in other words, and if this sort of thing still going on today, the new and improved fracking fluid is most likely nothing more than, oh, say buying a box of Tide detergent, and comparing that to a box of Tide detergent stamped with the label "NEW AND IMPROVED", and looking at the difference between them. It's basically the same thing, with the new and improved merely being a marketing technique to gain an advantage over competitors.
I don't think people fall for the "new and improved" label on existing products in a store these days, but it's looking like the investors are going all in for the "new and improved" fracking fluid.
Oh, and the bit about using nitrogen for fracking, we were selling Halliburton our trucks for them to use as nitrogen pumpers 20 years ago, when I worked for the supplier, so again, it's sounding like new and improved "old" technology, here. Plus good marketing.
Bruce_Mcdonalds
2 weeks ago
Aw, yeah, except John Seery has 0 shares. When you read Form 4s for insiders, Table one are shares, Table two are options. As awards for being a director, he was granted well over a million options, but no shares.
JRyan
3 weeks ago
Just a point, Givot found commercial oil in the meged field, southwest of MJ1. Yes, they STILL have a commercial license, you know the 30 year one I think. The Golan, it has it as well, but not practical to get. Mj1 is an area that has the same formations that is providing the oil of Syria, yet that is conventional oil.
Point is , it's there, but to your point maybe not commercial. That was said of the Bakkan as well...
We shall see. We even know it's light sweet crude, just like the Bakkan.
Interesting times for sure.