Israel: Seismic to start on Jordan Valley license

Nov. 1, 2011
Zion Oil & Gas Inc., Dallas, let a contract to Geophysical Institute of Israel to shoot 9 line-miles of 2D seismic on the Jordan Valley license in Israel.

Zion Oil & Gas Inc., Dallas, let a contract to Geophysical Institute of Israel to shoot 9 line-miles of 2D seismic on the Jordan Valley license in Israel.

The survey is scheduled to commence in late 2011 or early in 2012. The license lies east of Zion’s Joseph and Asher-Menashe licenses and south of the Sea of Galilee along the western Jordan River Valley. Meanwhile, the Israeli petroleum commissioner extended the Joseph License to Oct. 10, 2012.

Zion also signed a nonbinding memorandum with the US affiliate of an oil and gas exploration company with large international operations that will provide Zion with a deep-capacity land rig and other oilfield services for a minimum of 3 years and for at least three planned wells. After drafting and signing legally binding documentation, Zion plans to spud the next well in the first half of 2012.