Zion to start onshore seismic in Israel

Zion Oil & Gas, a Delaware corporation, which explores for oil and gas in Israel, onshore between Tel-Aviv and Haifa has signed an agreement with the Geophysical Institute of Israel to conduct one of the largest and most comprehensive geophysical surveys on-shore in Israel of the past two decades. The survey, including seismics, gravimetrics and magnetics, is to be conducted in Zion’s Asher-Menashe License area.

The purpose of the designed 60 kilometer survey is to acquire new geological and geophysical data to assist Zion in selecting the optimal drilling site for a test well on its Ramot Menashe (Menashe Heights) prospect and to upgrade the company’s Nahal Me’arot lead (nearby the Asher-Atlit No. 1 well) into a drillable prospect.

The estimated cost of the survey, including processing and interpretation, if completed to its full 60 kilometer designed length, is approximately $650,000.

The company currently holds a 78,000 acre exploration license, known as the Asher-Menashe License, located between Caesarea and Haifa.