Zion Oil Shareholders Meeting
June 22, 2009 by admin
We just returned from the Zion Oil & Gas third annual shareholders’ meeting in Dallas Texas. From the management reports and interviews with Zion stockholders a sense of positive expectation seemed to theme the event. The fact that Zion is actively drilling the Ma’anit-Rehoboth #2 (currently below 15,000 feet) and has capital reserves to finish the well and drill a second (Elijah #3) added to the optimism of the meeting.
I interviewed company management including founder John Brown, CEO Richard Rinberg, President Glen Perry, Chief Legal Officer Martin VanBrauman, and several company directors and stockholders. These interviews and other footage from the meeting should be up on Zion’s site and YouTube soon. I’ll keep you informed.
One of the greatest pleasures was to visit with Zion stockholders and Oil in Israel newsletter readers, including Bob Bradshaw, Bob Stenzl, Cameron Lorimer and others. I commented to CEO Richard Rinberg that Zion shareholder’s weren’t just ordinary investors, they were totally committed to Zion’s mission. He agreed.
There was time after the presentation for questions and answers. One of the best was “In the Ma’anit Rehoboth #2, you have a Triassic target (about 15,000 feet) and a Permian target (about 18,000 feet); how do you know when you’ve discovered something?” As the oil professional, Glen Perry’s answer explained how a multi-well program worked. Zion doesn’t plan to stop drilling at the Ma’anit-Rehoboth #2 until it has reached its Permian target of 18,000+ feet. Then they will immediately move the drill rig to the Elijah #3 site on the Asher license and begin the new well while analyzing the Ma’anit Rehoboth #2 for production. There’s been no word yet on potential hydrocarbons in the hole, but by the time Zion reaches the Permian, they should have a pretty good idea of gas and/or oil presence. From there, they’ll determine how to develop the the well for production.
Of course, Zion founder John Brown addressed the question: “How do you know when you’ve discovered something?” much more simply. His answer:“When the men on the rig yell, ‘Thar she blows!’”
All in all, it was a very good meeting. 
No related posts.
If i wanted to invest in Zion oil, how would i go about that? Is it a public stock that i could buy? And what is the name of the stock? Is it just Zion oil and gas?