Zion Oil & Gas Mobilizes Equipment to Israel for Well Testing Operations
Annual Shareholder Meeting to be held June 5, 2018 in Dallas, Texas
DALLAS and CAESAREA, Israel, March 28, 2018 - Zion Oil & Gas, Inc. (NASDAQ: ZN) announces that it has finalized procurement details for equipment and personnel needed to commence well testing on its Megiddo Jezreel #1 (MJ #1) well. Zion also announces that its Annual Shareholder Meeting will be held on Tuesday, June 5, 2018 at the Westin Dallas Park Central, 12720 Merit Drive, Dallas, Texas, at 2:00 CST, and would like to invite each of our shareholders to attend.
Zion’s President and Chief Operations Officer, Dustin Guinn, stated, “Our geoscience team has done a great job of working with our third party petrophysical contractors to evaluate our wireline logs to identify multiple zones about which we are excited. The live oil encountered in the well is obviously an exciting development, but having what we believe to be confirmatory log analysis only adds to my enthusiasm. In parallel to our geoscience work, we are pleased to have secured all the equipment necessary to safely and comprehensively test our MJ#1 well. The majority of this equipment was sourced from the Netherlands, and barring any unforeseen delays, will arrive in Israel soon after Passover, allowing us to commence testing operations in late April.”
Zion’s CEO, Victor G. Carrillo, added, “We, like our shareholders, are anxious to know whether the MJ #1 well will be a commercial success and we thank you for your patience. We recognize that it can be distracting when there are false rumors being spread about Zion. We are aware of these untruths and we deny and rebuke them (Isaiah 54:17). Thank you for your steadfast support and I hope to see many of you at our Dallas shareholder meeting in June. May you and your families have a blessed Passover (Pesach) and Easter season.”
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