Post by Ethan / JRyan on Oct 3, 2022 14:08:52 GMT -5
Zion Oil & Gas Operations Update from Israel as of October 3
Edit some commentary on what this means..
Edit I had some questions as well about water. I was talking with someone this morning that is experienced in these things. He is not an investor, but would not on wildcat wells as he knows how tricky they can be. It would be nice to know the water cut information but that Zion would not release after the MJ1 bashing they took.
It was not good news by any means, but it was not the end all either. I am surprised it has not dropped more.
Anyhow, wondered about the water and KyOil seems to agree with what I was told this morning.
Updates in case they are deleted.
Zion Oil and Gas reports encouraging results on exploratory well in Israel
Well I guess it is what it is. I thought the casing was all the way installed but I do not know the technical portions of how it works. A packer can deal a layer but how does the oil get by it?
I will wait to read more into it from those that know the issues.
I will in no way say this was encouraging but it was not the worst it could be. The fact that World Oil Magazine posted an update is encouraging a bit.
I had my order in but it went back up too fast, It is still in so I might get the last of my shares at 0.1375. If I do great, if not then it was not meant to be.
October 3, 2022
Update: MJ02 In Israel
Dear Zion Supporters and Shareholders,
As we enter the Jewish holiday season, we are encouraged by the results of our recent testing operations, particularly with respect to the lower of two prospective zones we perforated near the final drilled depth of the well.
This lower zone, which is approximately twenty (20) meters in thickness, is our primary zone of interest.
Although we are encouraged, more work remains to be done, and we have no assurance the zone will produce hydrocarbons in commercial quantities or whether the well ultimately will prove to be successful.
We are currently facing a downhole obstacle in the form of heavy water influx from the upper zone inhibiting the potential flow from the lower zone. After consultation with outside experts, we plan to isolate and neutralize the heavy water influx by procuring a 4 1/2 inch packer and installing it below the heavy water zone and above our primary zone, but we have no assurance this procedure will be successful.
Following the annual operational hiatus for the next few weeks of Jewish holidays, we plan to begin operations to install the packer and test the flow rate of our primary zone.
We will continue to provide updates in accordance with good corporate practices and all legal requirements when we have definitive, material news.
We continually give thanks to God and our loyal shareholders and supporters who make all of this possible.
Sincerely,
Rob Dunn
CEO
Update: MJ02 In Israel
Dear Zion Supporters and Shareholders,
As we enter the Jewish holiday season, we are encouraged by the results of our recent testing operations, particularly with respect to the lower of two prospective zones we perforated near the final drilled depth of the well.
This lower zone, which is approximately twenty (20) meters in thickness, is our primary zone of interest.
Although we are encouraged, more work remains to be done, and we have no assurance the zone will produce hydrocarbons in commercial quantities or whether the well ultimately will prove to be successful.
We are currently facing a downhole obstacle in the form of heavy water influx from the upper zone inhibiting the potential flow from the lower zone. After consultation with outside experts, we plan to isolate and neutralize the heavy water influx by procuring a 4 1/2 inch packer and installing it below the heavy water zone and above our primary zone, but we have no assurance this procedure will be successful.
Following the annual operational hiatus for the next few weeks of Jewish holidays, we plan to begin operations to install the packer and test the flow rate of our primary zone.
We will continue to provide updates in accordance with good corporate practices and all legal requirements when we have definitive, material news.
We continually give thanks to God and our loyal shareholders and supporters who make all of this possible.
Sincerely,
Rob Dunn
CEO
Well I guess it is what it is. I thought the casing was all the way installed but I do not know the technical portions of how it works. A packer can deal a layer but how does the oil get by it?
I will wait to read more into it from those that know the issues.
I will in no way say this was encouraging but it was not the worst it could be. The fact that World Oil Magazine posted an update is encouraging a bit.
I had my order in but it went back up too fast, It is still in so I might get the last of my shares at 0.1375. If I do great, if not then it was not meant to be.
Edit some commentary on what this means..
Edit I had some questions as well about water. I was talking with someone this morning that is experienced in these things. He is not an investor, but would not on wildcat wells as he knows how tricky they can be. It would be nice to know the water cut information but that Zion would not release after the MJ1 bashing they took.
It was not good news by any means, but it was not the end all either. I am surprised it has not dropped more.
Anyhow, wondered about the water and KyOil seems to agree with what I was told this morning.
Updates in case they are deleted.