Zion Oil & Gas

Zion Oil & Gas continued active drilling operations at its Megiddo-Jezreel #1 well in Israel near the eastern border with Jordan. As of 20 September, the well had reached a depth of 9,200 ft toward a possible total depth of 15,000 ft. Wireline logs have been run, a liner hanger has been set, and a 9⅝-in. casing string was cemented to a depth of 6,552 ft. CEO Victor Carillo said that third-party enhanced petrophysical log analysis showed penetration of hydrocarbon zones, but he could not comment on their “volume, producibility, or commerciality” until all zones of interest had been drilled. “A key objective zone” had yet to be penetrated, he noted.


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