| 2018-08-16 18:15:15|
ZN 18:15 08/16 08/16/18
Zion Oil & Gas confirms active petroleum system in Megiddo-Jezreel #1 well
Zion Oil & Gas announces that it is completing the initial testing program of its primary zones located within the Triassic-age Mohilla Formation of the Megiddo-Jezreel #1 (MJ #1) well. The company states: "We encountered oil at a depth of between 16,415 ft and 16,500 ft during drilling operations... Following the circulation of the fluid after the stimulation job, we ran back in the hole and began to swab the well to attempt to see if the well would flow. As of the writing of this update, when swabbing, the data confirms the well artificially flows at a rate of approximately 90-110 barrels of fluid per day in the zone between 16,415 and 16,500 ft. We are still swabbing completion fluid as of this writing and the results of the well are inconclusive at this point as to whether the well will establish natural flow and what the volumetric contribution of oil and water will be."