Zion Management 'Optimistically Enthusiastic' About Onshore Israel Well
Zion Oil & Gas Inc’s management is ‘optimistically enthusiastic’ about what it has seen and still hopes to see in the Megiddo-Jezreel #1 (MJ#1) well, located onshore Israel, according to the company’s CEO Victor G. Carrillo.
“Upon reaching TD [total depth], we will run our final suite of wireline logs and case the lower portion of the well before we finalize our testing program that will most likely occur in late March or April, after the testing equipment arrives to our well site in Israel,” Carillo said in a company statement.
MJ#1 is currently at a depth of approximately 15,913 feet. The well is expected to reach its final total depth of 16,733 feet in the next few drilling days, Zion revealed.
Dustin Guinn, Zion's president and chief operating officer, said MJ#1 has been a ‘challenging well’.
“To finally approach total depth is a satisfying accomplishment of which all of our shareholders should take pride. The MJ#1 is a very important well for Israel,” Guinn stated.
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