Zion Drilling Report
May 19, 2009 by admin
As promised, here is Zion’s first progress report on the drilling of the Ma’anit Rehoboth #2.
Here is a progress report (#1) regarding the drilling operations, for the 30 days ended Friday, May 15, 2009, from Zion’s President and Chief Operating Officer, Glen Perry:
The drilling operations of the Ma’anit-Rehoboth #2 well can be divided into eight distinct steps:
(2) The setting of a cement plug to allow the hole to be deviated.
(3) ‘Kicking off’ of the plug and establishing both the angle and direction of the deviation.
(4) Drilling directionally into the Triassic formation, a depth of approximately 15,400 feet (4,750 meters).
(5) Appraisal and evaluation of the Triassic formation using electrical wireline well logs.
(6) Setting and cementing casing at that depth.
(7) Drilling deeper to the Permian formation, a depth of approximately 18,000 feet (5,500 meters).
(8) Appraisal and evaluation of the Permian formation using electrical wireline well logs.
During the period covered by this report, we completed steps (1), (2) and (3).
On Friday, May 15, 2009, we went into the hole with directional tools, in order to start the directional drilling operations.
The rig has been operating on a 24 hour basis, utilizing two drilling crews on 12 hour shifts. To date, the work has gone well, with few problems encountered. We are ‘on schedule’.
The members of the Turkish rig crew have been pleasantly surprised with the courteous and helpful attitude that they have received from everyone they have met in Israel. As a direct consequence, their attitude is very positive and they want to do a ‘first class’ job for Zion.
Anyone who was a stockholder on the record date of May 4, 2009, has the right to purchase some more Zion stock at $5.00 per share of stock.
If you are a stockholder, I hope you will exercise your rights to purchase Zion stock at $5.00 and even consider an over-subscription, as I believe we have arrived at the most exciting stage of Zion’s development and that the offer before you may well never be repeated.
The rights offering is set to expire on June 10, 2009, although we may, at our discretion, extend that expiration date.
Psalm 51:18 – In your good pleasure, make Zion prosper…
Thank you for your continued support of Zion, and
Shalom from Israel
CEO of Zion Oil & Gas, Inc.