Zion Oil & Gas Achieves Success in Megiddo-Jezreel Well Re-entry Operations in Israel

Zion Oil & Gas Marks Key Progress in Israel’s Megiddo-Jezreel Well Re-entry

Zion Oil & Gas, Inc. announces successful initial flowback operations at its Megiddo-Jezreel #1 (MJ-01) well re-entry, situated in a critical exploration area in Israel. Following the completion of perforation and stimulation procedures, gas is detected at the surface, indicating a significant step forward for the company. The Megiddo Valleys License 434, encompassing around 75,000 acres, serves as a focal point for Zion's exploration activities, emphasizing the region's potential for oil and gas production. This development not only showcases Zion's operational capabilities but also reinforces its position in the competitive landscape of onshore hydrocarbon exploration in Israel.

Currently, Zion is dedicated to recovering stimulation fluids and cleaning the well, essential processes that precede further testing. The company is actively sourcing additional equipment to enhance flowback testing and to conduct volumetric analysis, which will provide insights into the reservoir's characteristics. These efforts are integral to evaluating the production potential of the MJ-01 well and will lay the groundwork for future operations. As Zion continues to advance its exploration strategy, the early signs from the MJ-01 well present a promising outlook for the company’s objectives in the region.

The recent activities at the Megiddo-Jezreel well reflect Zion's long-term commitment to exploring oil and gas resources in Israel and underscore the strategic importance of the Megiddo Valleys License. The initial flowback results not only highlight the potential for successful extraction but also demonstrate the company’s proactive approach in utilizing modern techniques to assess and optimize well performance. With continued focus on these operations, Zion aims to establish a sustainable presence in Israel's burgeoning energy sector.

In addition to the technical advancements, Zion Oil & Gas emphasizes its dedication to transparency and information dissemination. The company invites investors and interested parties to stay informed through its website, www.zionoil.com. As Zion continues to explore the promising opportunities in the Megiddo Valleys, the initial findings from the MJ-01 well showcase a positive trajectory for the company’s future endeavors in one of the world's most dynamic oil and gas markets.