Zion’s Ottaviani Joins Board
ZION OIL & GAS APPOINTS NEW BOARD MEMBER
Dallas, Texas – April 12, 2010 – Zion Oil & Gas, Inc. (NASDAQ GM: ZN), of Dallas, Texas and Caesarea, Israel, announced today that Mr. William L. Ottaviani has been appointed as a Director of Zion Oil & Gas, Inc. Mr. Ottaviani has been serving as the Company’s President and Chief Operating Officer of the Company since January 31, 2010 and will continue to serve in these positions.
Mr. Ottaviani, a petroleum engineer by training, served as Chief Operating Officer at Rex Energy Corporation from November 2007 to September 2009. From September 2009 to January 2010, he worked as an independent consultant. From 1982 until 2007, Mr. Ottaviani served in various management, engineering, operational and staff assignments for Chevron and its affiliated companies, with assignments in California, Louisiana, Indonesia and Angola. He earned his Bachelor of Science degree in Petroleum and Natural Gas Engineering from Pennsylvania State University and his M.B.A. from California State University, Bakersfield.
Mr. John Brown, Chairman of the Board and Founder, said: “We are delighted to have Mr. Ottaviani joining our Board of Directors. He brings more than 25 years of experience in the petroleum industry to Zion and will serve as a tremendous asset as we continue our pursuit to recover hydrocarbons in Israel.”
Zion Oil & Gas, a Delaware corporation, explores for oil and gas in Israel in areas located on-shore between Haifa and Tel Aviv. It currently holds two petroleum exploration licenses, the Joseph and the Asher-Menashe Licenses, between Netanya, in the south, and Haifa, in the north, covering a total of approximately 162,000 acres and the Issachar-Zebulun Permit Area, adjacent to and to the east of Zion’s Asher-Menashe license area, covering approximately 165,000 acres. Zion’s total petroleum exploration rights area is approximately 327,000 acres.
Zion Oil a Part of God’s Prophetic Timetable
March 28, 2010 by admin · 2 Comments
I received a note from Zion Oil’s founder John Brown last week regarding his belief that Zion Oil’s exploration activities in Israel, and their result, are a part of God’s prophetic timetable for the land of Israel. I agree with him; here’s the letter:
“What I hope your subscriber’s understand is that Zion has been and is directly involved in God’s prophetic time table for Israel and we are not just drilling for oil because if we were just looking for oil then we could do that right here in Texas for a lot less money.
I believe that Zion was created by God to fulfill His promises to the nation of Israel and the Jewish people (see Founder’s Testimony – The Vision and The Calling) and that is why I believe that we will eventually be successful in finding oil in Israel. So what this means is that, according to the Bible, all the money and time, that has been invested by Zion in Israel guarantees all our shareholders God’s blessings. (Gen 12:2, 3)
You can post this if you want because everything we are doing is based on scripture – (including where we are drilling).”
John also included his personal testimony and Zion’s Vision an Calling. Click below to download:
Israel’s Biblical Oil Explorers
March 27, 2010 by admin · 3 Comments
THE SEARCH FOR OIL IN THE LAND OF ISRAEL
A BIBLICAL TREASURE HUNT
By Philip Mandelker
APPENDIX
SCRIPTURALLY INSPIRED / INFLUENCED PETROLEUM
EXPLORATION IN ISRAEL
_______________________
1. Company: Asher Oil Company
Founder: Wesley Hancock. California based. A family company was active in oil and gas exploration in the United States.
Scriptural Basis: Blessing of Asher in Deuteronomy and story of Elijah’s sacrifice in I Kings.
Period of Activity: Early-middle 1960s.
Area of Activity: North-east flank of Mt. Carmel overlooking the plain of the Kishon Stream.
Primary Activity: Drilling of two wells:
(i) Asher #1: 1963 – drilled to 2,391 meters (7,845 ft) to a target in the Middle Jurassic. Results: Dry.
(ii) Asher #2: 1965 – drilled to 1,314 meters (4,311 ft) to a target in the Middle Jurassic. Results: Dry
Related Non-Scripturally Inspired Drilling:
In 1975, Sonol, a major Israeli gasoline marketing company reentered the Asher #2 well and deepened it to 2,596 meters (8,517 ft) to a target in the Early Jurassic. In 1980, OEL, an Israeli-government exploration company drilled the Asher #3 near the first two Asher wells to 574 meters (1,883 ft) to a Cretaceous target. Both these wells were dry.
2. Company: Energy Exploration Inc.
Founder: Andy Sorelle. Texas based petroleum engineer and wildcatter.
Scriptural Basis: Blessing of Asher in Deuteronomy
Period of Activity: First half of 1980s.
Area of Activity: Coastal plain between Mt. Carmel and the Mediterranean Sea, specifically in the area of the town of Atlit.
Primary Activity: Drilling of one well in two stages:
(i) Atlit #1: 1981 – drilled to 5,273 meters (17,301 ft) to a target in the Early Jurassic. Results: Dry
(ii) Atlit #1 Deep: 1982-1983 – deepened the Atlit #1 to 6,531 meters (21,428 ft) to target in Late Triassic. Results: asphalt and then light oil shows in cuttings before well was lost for technical reasons.
3. Company: Moriah Exploration
Founder: Gilman Hill. Colorado based geoscientist active in oil and gas exploration and developer of exploration technology.
Scriptural Basis: Story of Elijah’s sacrifice in I Kings and the Blessing of Asher in Deuteronomy.
Period of Activity: Early and mid-1980s.
Area of Activity: Mt. Carmel near the traditional site of the Elijah sacrifice.
Primary Activity: Drilling of two wells in 1980 and 1986:
(i) Elijah #1: 1980 – drilled to 2,682 meters (8,800 ft) to a target in the Middle Jurassic. Results: Dry.
(ii) Elijah #2: 1986 – drilled to 651 meters (2,136 ft) to a target in the Cenomanian. Results: Dry.
4. Company: Ness Energy
Founder: Harold “Hayseed” Stephens. A Texas oil and gas explorationist and operator.
Scriptural Basis: Genesis stories of Sodom and Gomorrah and a long series of scriptural references in various books of the Old Testament.
Period of Activity: 1980s and late 1990s-2001.
Area of Activity: Area surrounding the southwest quadrant of the Dead Sea and adjacent areas.
Primary Activity: Participation in drilling of one well in 1985; acquisition of certain exploration licenses in the late 1990s. The well, the Har Sedom #1 was targeted to be drilled to about 3,500 meters about 11,500 ft), but was lost for technical reasons at 1,818 meters (5,965 ft) in the Pliocene. The exploration licenses were lost following the failure of Ness to meet its obligations under the licenses to commence the drilling of wells on the license areas.
Related Non-Scripturally Inspired Drilling Activity
The Har Sedom #1 project and well were developed and operated by an Israeli commercial oil exploration company, Seismica. Ness Energy held a minority working interest (about 15%) in the well.
5. Company: Hoshana Oil Company
Founder: Bernard Coffindaffer. West Virginia based evangelical minister and missionary.
Scriptural Basis: Blessings of Asher, Zebulon and Issachar in Deuteronomy
Period of Activity: Early 1990s
Area of Activity: Southern flank of Mt. Carmel and the Valley of Jezreel just east of the South-eastern flank of Mt. Carmel.
Primary Activity: Acquisition of an exploration license and reprocessing and analysis of seismic data. License lapsed with no progress made towards drilling of well.
6. Company: Camberly Exploration
Founder: Lyle Harron. Canadian oil and gas explorationist.
Scriptural Basis: Blessings of Asher in Deuteronomy
Period of Activity: Early-middle 1990s.
Area of Activity: Coastal plain between Mt. Carmel and the Mediterranean Sea.
Primary Activity: Drilling of one well:
(i) Atlit #2: 1996 – drilled to 1,633 meters (5,388 ft) to a target in the Early Cretaceous. Results: Dry.
7. Company: Givot Olam Oil Exploration
Founder: Tovia Luskin. Russian born and educated geophysicist, active in oil and gas exploration in Canada and Australia, before moving to Israel.
Scriptural Basis: The Blessings of Joseph in Genesis and Deuteronomy
Period of Activity: 1990s to date
Area of Activity: Eastern portion of Sharon Plain between Netanya and Modiin
Primary Activity: Drilling of three wells commencing in 1994:
(i) Meged #2: 1994 – drilled to 5,200 meters (17,061 ft) to a target in the Triassic. Results: 400 API Silurian aged oil recovered from the Middle Triassic.
(ii) Meged #3: 2000 – drilled to 4,742 meters (15,683 ft) to a target in the Triassic. Results: Oil and gas shows in the Middle Triassic, but reservoir of very poor quality (very low porosity and permeability.)
(iii) Meged #4: 2002/3 – drilled to 4,919 meters (16,139 ft) to a target in the Triassic. Results: 360 API Silurian aged oil recovered from the Middle Triassic. Attempts in 2005 to drill a horizontal bore-hole in the well in an attempt to recover the oil which is located in tight reservoir rock failed apparently for technical reasons, with the well abandoned following loss of equipment in the horizontal bore.
Plans underway to drill another Meged well and attempt to develop the Meged field discovery, which was recognized by the Israel Petroleum Commissioner in 2004.
8. Company: Zion Oil & Gas, Inc.
Founder: John Brown. Michigan and Texas based businessman with roots in the machine-tool industry and active in building contracting sectors.
Scriptural Basis: The Blessings of Joseph in Genesis and Deuteronomy.
Period of Activity: 1990s to date.
Area of Activity: Manasseh hills and Sharon plain from the southern flanks of Mt. Carmel to Netanya.
Primary Activity: Drilling of a well in 2005:
(i) Ma’anit #1: (Re-entry) 2005 – deepening of previously abandoned Ma’anit #1 from 2,335 meters (7,661 ft) to 4,719 meters (15,483 ft) to targets in the Middle and Early Triassic. Results: The company announced that during drilling and completion operations, the well had numerous significant oil and gas shows in a 2,100-foot interval.
Analysis of the results of the well is continuing and future activity, including designing comprehensive completion procedure and drilling of an appraisal well being considered.
Related Non-Scripturally Inspired Drilling Activity:
The Ma’anit #1 was originally drilled to 2,335 meters (7,661 ft) in 1995 by an Israeli commercial oil exploration company, Sdot Neft. Though originally targeted to 4,500 meters (14,765 ft), it was abandoned as a dry hole after Sdot Neft ran out of money
(for a PDF Download of Philip Mandelker’s entire study go to: http://www.oilinisrael.net/resources/biblical-treasure-hunt-free-pdf)
Open Letter from Zion Founder John Brown
March 18, 2010 by admin · 12 Comments
As the editor of www.oilinisrael.net I get a lot of letters and a lot of opinions on what the exploration companies should be doing in Israel. The oil exploration companies, I’m sure, get a lot of them too. Sometimes they’re from stockholders, sometimes not. Most of the letters are encouraging and well meaning; some are just … well, let’s just says they’re shortsighted. First of all, to those who have blessed this website and the exploration companies with encouragement and good wishes, thank you. It means more than you can imagine. To those brave souls who, based on very limited information, have advice on how the exploration companies can improve their efforts, this website welcomes the dialog; good ideas have come from all over … but if your thinking is crooked, don’t be upset if I straighten it – it is an open forum.
And then there are the message boards. Message boards are forums on the internet where like minded folks discuss their opinions on the topic at hand. And, opinions are like bellybuttons; everyone has one. The great thing about message boards are that they allow anyone to express an informed opinion. The bad thing about message boards is that they allow anyone to express an uninformed opinion as well. It’s up to the reader to sort them out. Zion Oil & Gas founder John Brown received a note this week regarding a few opinions that may or may not really exist on one of the more popular message boards. John responded with a thoughtful and (in my opinion) right answer. I asked him if I could share the note and the response as an ‘open letter’ to concerned message board inhabitants.
John Brown Sharing Vision
Letter to John: “Have you been watching the YMB (Yahoo Message Board). Your stockholders are coming apart at the seams…esp concerning the new development of an update only once every 2 weeks. Many feel that the job of Richard is to keep us more informed.”
Response: Dear xxxxx,
This may come as a shock to you but I am so focused on everyone (including Richard) in Zion spending all their time on finding oil that I do not personally look at any YMBs. Why, because the only job we have is to find the oil which will bless both Israel (Gen. 12:2, 3) and our shareholders. And if we have anything new to report, then we will; but if not, then we won’t. While I am not personally involved in sending out these bi-monthly emails, I have suggested to Richard that we should just discontinue them and only update our website when we have something new to report. I am not a person who believes in “Hype” or spending a lot of time holding people’s hands by trying to answer all their many questions. I have tried this, but I find that I’m not going to make everyone happy anyway and because of the diversity in Zion’s shareholders; i.e. charismatic or fundamentalist, Christian or Jew. I am not going to allow myself to become involved in theological disputes or other controversial issues. My personal wish is that instead of all these questions and answers, which only cause more questions or divisions, that we should all spend our time praying for others (including Zion). (Heb 10:35, 36)
My last comment is that we will still do our very best to communicate and be transparent, honest with our shareholders, but if anyone feels that is not enough than I would suggest that maybe they should ask God to change us or perhaps maybe they need to invest in another company that will do what they want, when they want. In the meantime, I’m moving forward as fast as He allows us to fulfill the Vision (Ecc. 3:1) and hopefully that will make your shares more valuable. (Isa. 29:14)
For your information, I have spent over 29 years of my life and all the money I ever had on following this Vision that G-d gave me. And I personally believe that we are very close to actually seeing the scriptures come to pass. (Ro 4:20, 21) So my suggestion to all these who need more communication or are coming apart at the seams is to be patient and wait for the vision to happen. (Hab. 2:3) and quit complaining and murmuring (Ex. 16:2-15) and trust in Him and just rest in peace (Isa. 26:3, 4) (Isa. 32:17, 18) for: “Blessed are all they that wait for Him” (Isa. 30:15-18).
Shalom,
John M. Brown
Zion Oil & Gas, Inc.
Zion Oil Introduces ’49:1 The Zion Story’ at NRB
March 9, 2010 by admin · 3 Comments
John Brown Stands over the 49:1 Banner
News of the upcoming feature film ’49:1 The Zion Story’ created quite a buzz National Religious Broadcasters Convention in Nashville Feb 27 – March 2. Zion Oil & Gas founder John Brown, author of Breaking the Treasure Code: the Hunt for Israel’s Oil, Steve Spillman, and British filmmaker Tom Boulting were all present during the convention and met publicly and privately with leaders in Christian ministry, broadcasting and entertainment.
John Brown and Steve Spillman shared the story of Israel’s oil during the convention on two radio programs, Charle’s Crismier’s ‘Viewpoint’ broadcast and “The Meeting House” radio show with Bob Crittenden. “Viewpoint aired live on March 1; the archived broadcast can be heard at http://irnusaradio.com/our-programs/viewpoint. “The Meeting House program should air on the week of March 8; broadcast details can be found at http://www.meetinghouseonline.info/.
Thanks to the generosity of Zion Oil & Gas, Convention attendees received complimentary copies of Jim Spillman’s book The Great Treasure Hunt, Zion’s 2010 ‘Joseph Project’ DVD including the film trailer for ’49:1 The Zion Story’, along with free Zion Oil/49:1 t-shirts and Zion Oil & Gas media packages. True Potential Publishing, Inc. sponsored an autograph session with Steve Spillman personalizing complimentary copies of Breaking the Treasure Code: the Hunt for Israel’s Oil for conference attendees. On the last day of the convention, two lucky attendees were drawn for a grand prize of a ten day tour for two in Israel with Jonathan Bernis, sponsored by Zion Oil & Gas and Jewish Voice Ministries, and a second prize of Ten Commandment tablets carved of stone cut from the same quarry in Jerusalem that built King Herod’s palace, sponsored by Holy Jerusalem Stones in Israel.
British Filmmaker Tom Boulting with John Brown on location in Caesarea, Israel
The Zion Movie
According to London based Charter Films, Ltd. CEO Tom Boulting, immediate plans are in process to produce a documentary on Zion Oil’s faith and Bible based search for oil in the land of Israel. Boulting’s extended plans, however, call for a feature length film telling the story of Zion founder John Brown’s faith journey in his quest to discover oil in Israel.
For more on ’49:1 The Zion Story visit www.zionthemovie.com.
Brown & Spillman Radio Interview
Zion Oil Founder John Brown and Steve Spillman, author of Breaking the Treasure Code: the Hunt for Israel’s Oil discussed the latest updates in the search for Israel’s oil with Jan Markell on her weekly radio program ‘Understanding the Times’. The show aired live on Saturday, February 13, 10:00 AM CST. The entire interview is available for listening at http://www.olivetreeviews.org/radio/mp3/.
Wall Street Journal Interviews John Brown
December 5, 2009 by admin · 2 Comments
The Wall Street Journal recently interviewed Zion Oil & Gas Founder John Brown in Israel and produced a short video for their viewers. John Brown speaks of his faith and the search for Israel’s oil. To view the Wall Street Journal video, just click on the play button below.
Special Report: Zion – The Movie
November 25, 2009 by admin · 5 Comments
Special Report: Zion – The Movie
I traveled to Israel last week to work with Charter Films Limited, a UK film company. We (they) were doing preliminary shooting for a film about Zion Oil’s search for oil in Israel. Tom Boulting, Charter’s CEO met Richard Rinberg, Zion’s CEO on a flight to London a few months back and Richard shared the Zion Oil story with Tom. Tom was fascinated. As a filmmaker, Tom saw great possibilities for a documentary on Zion Oil; but after spending a few days with Richard and Zion Founder John Brown at Zion’s drilling sites in Israel he realized that a sixty minute documentary could only tell half the story. Tom started thinking ‘movie’.
John Brown at Caesarea Aquaduct
As the ‘oil in Israel’ story teller up to this point, I was invited to spend last week with Tom and his cameraman, Jim, ‘on site’ while they filmed preliminary footage for both the documentary and a possible feature length film. I was able to share the ‘back-story’ with Tom and Jim, both on and off camera. They even christened me into the ‘film crew’ on location by letting me hold the boom mike during interviews and taught me some movie making lingo. It was a great experience personally, but more exciting was the realization that the world will soon witness the Zion Oil story through documentary on the small screen (TV) and (one day) on the big screen as a feature length movie.
Steve Spillman, Rookie "Boom Technician"
There’s a lot of work to be done now by Charter Films, editing footage and preparing a short ‘promo’ piece to share with potential film partners. Speaking of ‘promo’ pieces, Charter Films is planning to join us at the 2010 National Religious Broadcasters’ Convention next February in Nashville to debut a sneak peek of “Zion – The Movie”.
Next week we’ll have http://zionthemovie.com online. By the time you’re about done with that left-over turkey, you’ll be able to visit the new website for great pictures, meet the director and stay up to date on the making of “Zion – The Movie”. Of course we’ll always give you the latest news here at http://oilinisrael.net.
Zion Oil October 2, 2009 Company Update
October 8, 2009 by admin · 4 Comments
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Zion Oil & Gas Newsletter
October 2, 2009
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Dear Shareholder and/or Friend of Zion…
Here is an update of our progress during the past week.
Operations on the Ma’anit-Rehoboth #2 Well
In last week’s update (dated September 25, 2009) I wrote:
“We have decided, for the present, not to drill any deeper in this well and are now analyzing and establishing the priorities of the seven zones that warrant completion testing. The well bore is in excellent condition and it is also possible that we will drill this well deeper in the future. Next week, I will comment further.”
The Ma’anit-Rehoboth #2 well was planned as a deep well in order to test the Permian geological formation and the original planned target depth was 5,500 meters (18,040 feet).
During the planning of the well, our geologists, basing their opinion on the available seismic and other data, believed that drilling to the planned target depth of 5,500 meters (18,040 feet) would result in us testing the Permian geological layer.
In September 2009, when our drilling reached a depth of 5,460 meters (17,913 feet), we had reached a depth less than 1% away from the original target depth.
However, during drilling, it became apparent that we were, in fact, drilling into a ‘fault line’. (This means that the rock on one side of the fracture had moved with respect to the rock on the other side.) To make matters more complicated, there did not seem to have been just one fault line but more likely a ‘fault zone’.
Due to the presence of the fault zone, the geological formation in which we were drilling required much more analysis.
After carrying out that analysis, we decided that, almost certainly, we were still in the Triassic geological layer and could not determine how much further we would have to drill to reach the Permian geological layer.
In the light of the uncertainty regarding the depth of the Permian geological layer at our well site and knowing that we have found seven zones that warrant completion testing, we decided that the prudent course, for the present, was to stop drilling on this well and (i) test the seven zones mentioned, as well as (ii) carry out further analysis on the geology, using the drilling and logging data obtained in the last weeks. However, at a later stage, if we decide to, we can drill this well deeper.
Not only did we have the benefit of our internal experts, Dr. Druckman, Dr. Kashai and Stephen Pierce who between them have over 100 years of professional experience, but we also received input from external organizations and experts, such as the ‘The Geophysical Institute of Israel’ and Dr. Dorit Korengrin and Dr. Brian Conway of ‘The Geological Survey of Israel’.
The Geophysical Institute of Israel specializes in the application of geophysical methods for mapping the structure and characteristics of the subsurface; their website address is:
http://www.gii.co.il/index.php?page_id=1&lang_action=change_lang&to_lang=en
The Geological Survey of Israel is involved in earth science research and development; their website address is: http://www.gsi.gov.il/eng/
Preparations at the site of the Elijah #3 Well
This coming week, we plan to start rigging down (at the Ma’anit site) and start moving the drilling rig and equipment to the site of the Elijah #3 well.
We have initiated our security on the area and equipment has now started to arrive on site.
We have set the ‘conductor pipe’; that is, a short length of pipe, driven into the ground. Conductor pipe is run because the initial shallow section of the well is drilled in unconsolidated soil rather than consolidated strata (i.e. solid formations) encountered deeper.
We estimate that we will start drilling in approximately the middle of October 2009.
Rights Offering
This week, on October 1, 2009, in response to comments received from the Securities and Exchange Commission (SEC), Zion filed an additional amendment to the registration statement.
As amended, the proposed Rights Offering will offer a maximum of 3.6 million shares of stock at $5.00 for each share of stock. Should the rights offering be fully subscribed, the company will receive gross proceeds of $18 million.
Under the (amended) rights offering, stockholders have the right to purchase twenty three (23) shares of stock for every one hundred (100) shares of common stock owned on the (to be determined) record date. This is identical to 0.23 subscription rights for each share of common stock owned on the record date.
If you were among the many hundreds of our stockholders who did not receive as many $5.00 shares as you subscribed for in the earlier rights offering, this is your ‘second chance’ opportunity. Obviously, this offer is open to everyone who is a stockholder of record on the (as yet undetermined) record date.
The offering can only ‘go effective’ (or in plain language, ‘begin’) when the SEC has completed its review, so we patiently wait.
CBN NEWS Interview
On Wednesday of this week, as you can see in the photographs, Chris Mitchell, the Middle East Bureau Chief of CBN NEWS visited us, in order to interview John Brown and visit the site of the Ma’anit-Rehoboth #2 well.
John explained his vision, gave Chris Mitchell an understanding of the history of Zion Oil & Gas and then I gave CBN NEWS a guided tour of our operations. It transpired that some members of the CBN NEWS photographer’s family were enthusiastic Zion shareholders. I’ll let you know when the article has been published and/or broadcast.
The CBN NEWS website address is: http://www.cbn.com/cbnnews/
“In your good pleasure, make Zion prosper…”
Psalm 51:18
Thank you for your support of Zion and Shalom from Israel
Richard Rinberg
CEO of Zion Oil & Gas, Inc.
www.zionoil.com
FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion’s planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, timing and potential results thereof and plans contingent thereon and rights offering 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.
NOTICE
Zion Oil & Gas, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about Zion Oil & Gas and its offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Zion Oil & Gas will send you the prospectus if you request it by calling toll free 1-888-TX1-ZION (1-888-891-9466 ).
Contact Information
More information about Zion is available at www.zionoil.com or by contacting Kim Kaylor at Zion Oil & Gas, Inc., 6510 Abrams Rd., Suite 300, Dallas, TX 75231; telephone 1-214-221-4610; email: dallas@zionoil.com
Israeli Group to Start Drilling for Dead Sea Oil
September 10, 2009 by admin · 6 Comments
An Israeli consortium that includes a group largely responsible for the recent discovery of natural gas deposits off the country’s Mediterranean coast plans to begin exploratory drilling for oil at the Dead Sea next month.
The Delek Group headed by Yitzhak Tshuva previously headed the consortium that found billions of dollars worth of natural gas just 50 miles off the coast of the northern Israel city of Haifa. Tshuva is convinced that other sources of energy exist in the country, including oil deposits worth at least half a billion dollars under and around the Dead Sea.
Following his consortium’s natural gas find earlier this year, Tshuva said he believed Israel would very soon become energy independent, and even start exporting natural gas, leading to a major economic revolution in the country.
But Tshuva won’t be alone in his search for oil in Israel. Texas-based, Christian-run Zion Oil & Gas has been searching for oil in Israel since 2000. Founder John Brown says the Bible makes it clear Israel will be energy independent in the last days. The company’s two exploratory drillings have so far given inconclusive results, but have sparked enough optimism for Zion Oil & Gas to continue its operations.
