The workplan approval follows the acquisition of Exploration License 434 on September 19
Zion Oil & Gas, Inc. (OTCQX: ZNOG) announces the approval of its workplan by the Israel Ministry of Energy for its MJ-01 recompletion project.
“Israel is open for business and we are grateful for the Israeli government’s green light on our workplan, allowing us to move ahead with the MJ-01 recompletion project,” said Rob Dunn, CEO of Zion Oil & Gas. “This is an exciting time for Zion as we implement cutting-edge technologies and stimulation methods to potentially unlock previous and newly identified zones of interest.”
Amidst the war in Israel following the atrocities on October 7, Zion has maintained secure operations with the site and rig unharmed. The company now targets a Q1 start date post-holidays. Zion has secured service contractors and ancillary items required for efficient operations.
This workplan approval follows the acquisition of Exploration License 434 on September 19. This “Megiddo Valleys License” spans approximately 75,000 acres and signifies a deep commitment to Israel’s energy landscape.
“Our journey continues with an unwavering faith in God and the ongoing support of our shareholders,” said John Brown, Zion Founder and Chairman. “We appreciate all the support from so many who have joined us in this journey of faith for Israel’s oil and gas.”
Zion Oil & Gas, a US public company traded on OTCQX Best Market, explores for oil and gas onshore in Israel.
Zion currently has a Unit Program with Warrants until December 31, inviting supporters to be part of Israel’s promising energy future.
Source: Company Press Release