Zion Oil & Gas secures approval for MJ-01 recompletion project in Israel

Zion Oil & Gas, Inc., a key player in the energy sector, has recently received regulatory approval from the Israel Ministry of Energy for its strategic MJ-01 recompletion project. This development marks a significant milestone in the company’s operations in Israel, with plans to initiate recompletion operations in early 2024.

The approval for the workplan signifies the Israeli government’s support for Zion Oil & Gas’ initiatives and marks an exciting period for the company as it prepares to employ cutting-edge technologies and stimulation methods. These innovations are anticipated to unlock previously identified zones of interest and potentially new ones.

Despite the turmoil in Israel following the events of October 7, Zion Oil & Gas has maintained secure operations, with its site and rig remaining unscathed. The company is now gearing up for a Q1 start date post-holidays and has successfully secured service contractors and necessary ancillary items for efficient operations.

This project follows the acquisition of Exploration License 434, known as the “Megiddo Valleys License,” which covers approximately 75,000 acres. This acquisition reflects Zion Oil & Gas’ deep commitment to Israel’s energy landscape and its ongoing efforts to explore and develop oil and gas resources in the region.

John Brown, Zion Founder and Chairman, expressed his gratitude for the continuous support from shareholders and reaffirmed the company’s commitment to Israel’s oil and gas exploration, guided by faith and determination.

Zion Oil & Gas, Inc., traded on the OTCQX Best Market, is a US public company focused on exploring for oil and gas onshore in Israel. This recent approval signifies not only a major step forward for Zion Oil & Gas but also highlights the potential of Israel’s energy sector and its attractiveness to international energy companies.