Cooldeliosis
2 semanas hace
A tell of two wells.
According to recent updates from Zion Oil & Gas, the MJ-1 well (Megiddo-Jezreel 1) in Israel has shown evidence of an active petroleum system, indicating the presence of oil, and is currently undergoing recompletion operations to attempt to extract flow from the identified zones, with testing and completion operations expected to be finalized in Q2 2025; the company is utilizing new stimulation techniques to overcome previous challenges encountered in the well.
Key points about the MJ-1 test results:
Active petroleum system confirmed:
Zion Oil & Gas has stated that the MJ-1 well has demonstrated the existence of an active petroleum system, meaning oil has been encountered and migrated into a trap.
Recompletion efforts underway:
Due to initial challenges, Zion is currently re-entering the MJ-1 well to try and extract flow from the identified zones using updated stimulation techniques.
Focus on specific zones:
The company is planning to isolate and test specific zones within the well using a permanent plug to target the most promising areas.
Recent operational updates:
As of February 2025, Zion has announced the resumption of operations on the MJ-1 well, with the rig crew mobilized and maintenance work underway.
According to recent updates from Zion Oil & Gas, the results of the MJ-2 (Megiddo-Jezreel #2) well indicated encouraging hydrocarbon shows, but after further testing, it was determined that the well currently cannot produce hydrocarbons in commercially viable quantities due to insufficient permeability in the primary zone of interest; therefore, the well is not considered productive at this time and a temporary plug was set to preserve the wellbore for potential future use with further technological advancements.
Key points about the MJ-2 well results:
Positive indications:
Initial logs and analysis showed promising signs of hydrocarbons in the primary zone.
Permeability issues:
Despite the hydrocarbon shows, the zone was found to have inadequate permeability, preventing commercial production.
Further analysis:
Zion is currently re-evaluating data from the MJ-1 well, drilled on the same pad site, to assess if the same zone can be productively accessed there.
Future potential:
Zion remains optimistic about the Megiddo-Jezreel license area and may attempt re-completion operations on the MJ-1 well or explore other zones in the future based on further analysis and technology advancements.
IRisky
2 semanas hace
Zion Oil & Gas Announces Renewed Operations Underway for MJ-01 Well Testing & Recompletion Project
Current Unit Program Ends on February 28
DALLAS, Texas, and CAESAREA, Israel, February 18, 2025 – Zion Oil & Gas, Inc. (OTC: ZNOG) is pleased to announce a significant operational milestone as work resumes on the recompletion of the Megiddo-Jezreel 1 (MJ-01) well in Israel. This marks a crucial phase in Zion’s ongoing efforts to unlock Israel’s onshore energy potential.
Operations Update: Crews on the Ground and Progress Underway
Zion’s rig crew arrived in Israel on February 15, 2025, and has commenced critical maintenance and preparatory work. The rig, which was safely “warm stacked” in September, is undergoing necessary maintenance procedures, including fluid changes, lubrication and greasing, and mechanical, electrical, and safety audits to ensure peak functionality.
Following maintenance, the team will begin drilling out the temporary plug at approximately 1,100 meters. This phase is expected to take 2-3 weeks, paving the way for the subsequent well recompletion and testing operations. Once the plug is removed, Zion will proceed with setting a permanent plug at the deeper part of the well to isolate the targeted zones of interest for testing.
Global Coordination & Logistics
Zion Oil & Gas has successfully navigated complex logistical challenges to ensure the timely delivery of essential equipment. Resources are currently enroute from across the globe, including India, Romania, Germany, the Netherlands, the UAE, the United States, and Tanzania. This unprecedented international cooperation underscores the dedication and perseverance of Zion’s team and partners.
“As we move forward with this phase of operations, we are witnessing God’s provision in extraordinary ways,” said Monty Kness, VP of Operations. “The ability to coordinate a project of this scale, with equipment and expertise sourced from multiple continents, is a testament to both our team’s determination and the global support behind our mission.”
Security and Site Preparedness
Zion has maintained continuous security at the MJ-01 site, ensuring a stable and secure operational environment. Additionally, commercial air travel into Israel has steadily resumed, further supporting logistical operations.
“Our focus remains on safety, precision, and execution,” said Zion CEO Rob Dunn. “With boots on the ground and critical equipment in motion, we are committed to seeing this project through knowing God has directed our steps forward.”
Completion Timeline & Next Steps
With all necessary equipment expected to be on-site by mid-March, barring unforeseen circumstances Zion anticipates its well completion and testing operations should be nearing completion in Q2 2025. The team remains confident in its planned operations and will continue to provide updates as milestones are achieved.
Final Opportunity: Unit Program Closing February 28, 2025
Zion Oil & Gas reminds investors that the current Unit Program will close on February 28, 2025. This is the final opportunity to participate before the program concludes.
For every $250.00 UNIT purchased, investors receive:
- Common stock based on the high-low average sale price on OTCQB: ZNOG for the day of purchase (or the next trading day if purchased after 4:00 PM EST).
- 50 Warrants with an exercise price of $0.25 each.
- 50 Additional Warrants for those enrolled in Automatic Monthly Investments (AMI) at $50/month or more (one-time only).
- Warrants are exercisable for 12 months from March 31, 2025, to March 31, 2026.
To learn more, visit www.zionoil.com/dspp
Faith & Perseverance
John Brown, Zion’s Founder and Chairman, expressed gratitude for the unwavering support from shareholders and believers in its mission. “We remain steadfast in our calling, knowing that each step forward is guided by the Lord. As we embark on this critical phase of operations, we are encouraged by His promises and the faithfulness of our supporters.”
About Zion Oil & Gas, Inc.
Zion Oil & Gas, a U.S. public company traded on OTCQB: ZNOG, is dedicated to exploring for oil and gas onshore in Israel under its Megiddo Valleys License 434 which covers approximately 75,000 acres.
For more information, visit www.zionoil.com.
“The end of a matter is better than its beginning, and patience is better than pride.”
Eccl 7:8 NIV
“Bless the Lord, O my soul, and forget not all his benefits, who forgives all your iniquity, who heals all your diseases, who redeems your life from the pit, who crowns you with steadfast love and mercy, who satisfies you with good so that your youth is renewed like the eagle’s.”
Ps 103:2-5 ESV
Bruce_Mcdonalds
4 semanas hace
Lawyers at ZNOG write the PRs in such a way that is truthful, yet misleads. So it would be hard for the FBI to shut them down, and throw anyone in jail.
As for my claim that the PRs are truthful yet misleading, a case in point is their latest PR, which should have been absolutely devastating news to the stockholders (they destroyed the bottom half of the well where a little bit of oil was previously found), yet, the stockholders couldn't be happier.
Recently, they even told you the casing at MJ#1 was in very bad shape, and very hard to re-work. Probably bad shape due to 7 years of rusting steel casing exposed to the salt water aquafer's they drilled through. Damaged beyond repair? So much for the "re-completion".
So with them revealing everything to you, it's on you if you invest and lose. There is no recourse. All has been truthfully disclosed. In this world, senior management and staff are guiltless.
Just a few years ago, do you remember voting on an issue where stockholders can no longer sue individual officers of the company? You can only sue the company, you can't list the officers and senior management names separately on any lawsuit filed. The term eyes wide shut come to mind.