Past year: ▲ 119%(17.0c – 48.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Nov 2016drilling progress report▲ GoodMajor
Israel's Petroleum Commissioner approved Zion's extension request: License 401 now runs to Dec 2, 2017, and the deadline to start drilling Megiddo-Jezreel #1 moves to June 30, 2017. This resolves the open question about the license ending Dec 2, 2016. Zion also awarded the drill site construction contract to Y. Bazelet & Aggregatim LTD, with work to begin in December.
29 June 2015drilling progress report● NeutralMajor
Zion began drilling-contract negotiations (June 26, 2015) with Viking and its Israeli subsidiary to use Rig I-35 for the Megiddo-Jezreel #1 well, once definitive agreements are signed and full regulatory approval is granted. The expected first-well start has moved from the second half of 2015 to the 4th quarter of 2015 or 1st quarter of 2016; the press release calls Victor Carrillo the 'newly named CEO' (he signs as CEO), and says the drilling prospect report will soon go to Israel's Petroleum Commissioner.
25 Feb 2015drilling progress report▲ GoodMajor
Zion signed a non-final memorandum of understanding with Viking Services BV (Netherlands) for a rig and crew to drill two wells (option for a third) over two years on its Megiddo-Jezreel License, with the first well expected in the second half of 2015, subject to full Israeli regulatory approval. It also floats a possible jointly formed 'Zion Drilling, Inc.' to lease and perhaps own a rig after the primary term; this echoes the earlier Lapidoth rig-company idea but with a different partner.
