Zion Oil & Gas, Inc. (OTCMKTS: ZNOG) is rising on the charts, easily breaking through all resistance levels and emerging as a small cap volume leader, trading $1.7 million in volume just Friday. ZNOG has a long history of big moves that spiked to $1.75 in 2020 and looks well oversold at current levels. There’s a little doubt about it, there’s something big brewing in Zion Oil and Gas and investors are quickly realizing. Recent photos of the well site show massive tanks and other equipment installed at the site. In May, the company announced that it was filing for a new exploration license in the Megiddo-Jezreel Valley over the same 99,000 m area as the previous License No. 401 and current License No. 428. Jeff Moskowitz, l the company’s trusted man in Israel, said that “this new exploration license application will advance our current and future work plans in Israel”,

All well testing, completion and stimulation equipment is at the Port of Haifa or on-site in Israel for the next phase of Zion’s operations. Zion’s MJ-02 well was completed by casing, lining and cementing. Ongoing operations include well stimulation and DST testing. All equipment needed to perform well stimulation and DST testing is in country despite the global logistics backlog. Simultaneously with the filing of the new exploration permit, Zion submitted a petition seeking three-year administrative approval for exploration permit #428 under Israeli petroleum law. Zion’s 99,000-acre Megiddo-Jezreel license area is located in the Golan Heights and Jezreel Valley, which are emerging as an oil hotspot in Israel. Scientists say they have discovered a possible oil bonanza in the region with the potential for billions of barrels in the ground. According to geologist Yuval Batov, “the layer is 350 meters thick, which is 10 times thicker than the average oil discovery in the world.

Zion Oil & Gas, Inc. (OTCMKTS: ZNOG) is an oil and gas exploration company operating in Israel. In ex Nasdaq, ZNOG shares trade on the OTCQX market and have warrants under the symbol “ZNOGW”. ZNOG has a very interesting history – In 1985, during a visit to Israel, John M. Brown (the founder and CEO of the company) became inspired and dedicated to the search for oil and gas in Israel, and he initiated the process that led to Project Joseph. . Over the next fourteen years, he made several trips each year to Israel, hired oil and gas consultants in Israel and Texas, met with Israeli government officials, made direct investments with local exploration companies and helped Israeli exploration companies raise money for oil and gas. exploration in Israel. This activity led Mr. Brown, along with others who had assisted him during those years, to form Zion Oil and Gas, Inc.

Zion holds an active onshore oil exploration license in Israel, New Megiddo License 428 (“NML 428”), comprising approximately 99,000 acres. NML 428 was awarded on December 3, 2020 for a six-month term with the possibility of an additional six-month extension. On April 29, 2021, Zion submitted an application to the Department of Energy for a six-month extension through December 2, 2021. On May 30, 2021, the Department of Energy approved our application for an extension through December 2, 2021. December 2021. On November 29, 2021, the Department of Energy approved our request for an extension to August 1, 2022. ML 428 is onshore, south and west of the Sea of ​​Galilee, and we are pursuing our exploration objective here based on our studies as it appears to possess the key geological ingredients of an active petroleum system with significant exploration potential. Zion’s Megiddo-Jezreel license area is located in the Golan Heights and Jezreel Valley, which are becoming an oil hotspot in Israel. Scientists say they have discovered a possible oil bonanza in the region with the potential for billions of barrels in the ground. According to geologist Yuval Batov, “the layer is 350 meters thick, which is 10 times thicker than the average oil discovery in the world.

@Elon Musk… I guess if the hole was dry, there wouldn’t be all that equipment there. $ZNOG #Oil #ElonMuskLovesOilAndSoDoWe #Israel #ZNOG pic.twitter.com/uNbowZo1Sz

— LeRealChava (@TheRealChava) May 29, 2022

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The Megiddo Jezreel #1 (“MJ #1”) site was completed in early March 2017, after which the drilling rig and associated equipment were mobilized to the site. Performance and endurance testing has been completed and the MJ #1 exploration well was sunk on June 5, 2017 and drilled to a total depth (“TD”) of 5,060 meters (approximately 16,600 feet). Subsequently, the Company obtained three suites of open-hole wireline logs (including a formation image log), and the well was successfully cased and cemented. The Department of Energy approved the well testing protocol on April 29, 2018.

The testing protocol was concluded at the MJ #1 well and although the company did not locate commercial quantities of oil at the time, Zion felt it was conservative and consistent with good industry practice. further examine these questions with focused 3D seismic imaging filming. of approximately 72 square kilometers surrounding the MJ#1 well. Zion performed all of the 3D data acquisition, processing and interpretation and incorporated its expanded knowledge base into the drilling of our current exploration well MJ-02.

In 2020, the Company acquired an onshore oil and gas drilling rig, drill pipe, related equipment and spare parts for a purchase price of $5.6 million in cash. The rig is a 1600 horsepower AC top drive equipped rig with a 1600 horsepower dual mud pump system with a depth capability of 20,000 feet. . Rig equipped with 1600 horsepower AC Top Drive capable of 20,000 feet depth. The rig underwent full CAT III and IV certification in late 2017, ensuring the quality of the rig and ancillary equipment, and it has drilled two wells since certification.

On May 11, ZNOG announced that it had filed a new exploration license in the Megiddo-Jezreel Valley over the same 99,000 area as the previous License No. 401 and current License No. 428. All equipment Well testing, completion and stimulation facilities are at the Port of Haifa or on-site in Israel for the next phase of Zion’s operations.

Zion’s MJ-02 well was completed by casing, lining and cementing. Ongoing operations include well stimulation and DST testing. All equipment needed to perform well stimulation and DST testing is in country despite the global logistics backlog. Simultaneously with the filing of the new exploration permit, Zion submitted a petition seeking three-year administrative approval for exploration permit #428 under Israeli petroleum law.

Vice President and General Manager of Zion in Israel, Jeff Moskowitz. “This new exploration license application will advance our current and future work plans in Israel.”

$ZNOG

Expect a big break above 0.28 daily, a new zone to hold as support needs to be above 0.21 from here. The gold cross on the daily is now fully accepted 3 eMA bull split 9/21/200.. headed to 📈 from here. pic.twitter.com/1Py8N4UNTb

—DB Daytrades (@DB_Daytrades) May 31, 2022

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ZNOG is skyrocketing on the charts in recent days, breaking through all resistance levels and emerge as the leader in small cap volume trading at $1.7 million in volume on Friday alone. There’s a little doubt about it, there’s something big brewing in Zion Oil and Gas and investors are quickly realizing. Recent photos of the well site show massive tanks and other equipment installed at the site. In May, the company announced that it was filing for a new exploration license in the Megiddo-Jezreel Valley over the same 99,000 m area as the previous License No. 401 and current License No. 428. Jeff Moskowitz, l The company’s trusted man in Israel, said “this new exploration license application will advance our current and future work plans in Israel.” The Golan Heights and the Jezreel Valley are emerging as a potential oil hotspot in Israel. Scientists say they have discovered a possible oil bonanza in the region with the potential for billions of barrels in the ground. According to geologist Yuval Batov, “the layer is 350 meters thick, which is 10 times thicker than the average oil discovery in the world. We’ll update ZNOG when more details emerge, so make sure you’re subscribed to Microcapdaily so you know what’s going on with ZNOG.

Disclosure: We do not hold any positions in ZNOG, long or short, and we were not compensated for this article.