Zion Oil & Gas Finishes Data Acquisition for Largest Onshore 3-D Seismic Survey in Israel's History
3-D seismic acquisition phase completed; processing and interpretation remain
DALLAS and CAESAREA, Israel, Oct. 16, 2019 /PRNewswire/ -- Zion Oil & Gas, Inc. (Nasdaq: ZN) announces the completion of data acquisition for its Megiddo-Jezreel 3-D seismic program.
"The crew has successfully completed the recording of the Megiddo-Jezreel 3-D seismic program, and our contractor logged over 19,000 manhours incident-free along with zero environmental damage," Zion's COO, Robert Dunn said. "We have accomplished a significant task – the recording of the largest onshore 3-D in Israel's history, and we look forward to the interpretation of the data set."
"Not only is it the largest 3-D survey in Israel's history, but the data acquisition was completed within a time frame not thought possible due to the hard work, determination, faith, and courage of our team," stated Zion's President, Bill Avery. "We are moving forward with our exploration plan undeterred."
Zion's seismic acquisition covered over 72-square kilometers within its Megiddo-Jezreel license. The final pickup phase of the equipment has begun and will be completed by October 16th with the demobilization target by October 20th.
Zion will send the data for processing to Agile Seismic, located in Houston, Texas.
"Our team in Israel has done an outstanding job getting this done so quickly," expressed Zion's CEO, John Brown. "Please continue to pray for our next steps as we process and interpret the data."
Zion Oil & Gas, a public company traded on NASDAQ (ZN), explores for oil and gas onshore in Israel on their 99,000-acre Megiddo-Jezreel license area.
"The Lord Himself goes before you and will be with you; He will never leave you nor forsake you. Do not be afraid; do not be discouraged."
Deuteronomy 31:8
"Sing to the Lord, for he has done glorious things; let this be known to all the world. Shout aloud and sing for joy, people of Zion, for great is the Holy One of Israel among you."
Isaiah 12:5-6
FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, anticipated attributes of geological strata that may be drilled or tested in the future, Zion's ability to successfully raise the funds needed to undertake these exploration efforts; Zion's ability to continue as a going concern; Zion's ability to comply with the continued listing requirements of the Nasdaq Capital Market; the timing and completion of the 3-D seismic survey and processing and the interpretation of the results, operational risks in ongoing exploration efforts, Zion's ability to raise the capital needed to complete the 3D survey and the processing and interpretation of the results thereof, timing and potential results thereof and plans contingent thereon are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
Contact Info:
Andrew Summey
VP, Marketing and Investor Relations
Zion Oil & Gas, Inc. (NASDAQ: ZN)
12655 North Central Expressway, Suite 1000, Dallas, TX 75243
Telephone: 888-891-9466
Email: [email protected]
www.zionoil.com
SOURCE Zion Oil & Gas, Inc.
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