Zion Submits Permian Report for Planned Well

Zion Oil & Gas Inc. says that the company's geological team recently completed a year-long study of the deep Permian horizons on the company's Joseph and Asher-Menashe Licenses. The Permian Report identified a Permian drilling prospect on the Ma'anit structure on Zion's Joseph License.

Submitted to the Israeli Petroleum Commissioner, the report is a 43-page technical geological report and prospect presentation, in which Zion analyzes the hydrocarbon potential in drilling the planned Ma'anit-Rehoboth #2 well to Permian targets, in addition to the Triassic targets drilled in Zion's Ma'anit #1 well.

In the Report, Zion notes and analyzes the striking similarity between the late Permian Arqov formation in Israel, into which Zion plans to drill the planned Ma'anit-Rehoboth #2 well, and the late Permian Khuff formation in the Persian Gulf region. The Khuff formation is the main reservoir for the prolific offshore gas bearing North Field in Qatar and South Pars field in Iran.

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