Christians United for Israel Announces Zion Oil & Gas’ Washington Summit Sponsorship
July 13, 2010
SAN ANTONIO – Christians United for Israel, the nation’s largest pro-Israel organization, announced Monday that Zion Oil & Gas, Inc. (NASDAQ GM: “ZN”) will sponsor the Night to Honor Israel and the Ambassador’s Reception at CUFI’s 2010 Washington Summit.
The evening will feature remarks from Pastor John C. Hagee, CUFI’s Founder and National Chairman. He will be joined on the stage by keynote speaker Michael Oren, Ambassador of Israel to the United States.
“This sponsorship is very good news,” said Pastor John Hagee. ”We appreciate Zion’s support for our efforts to strengthen the US-Israel relationship.”
Christians United for Israel is the largest pro-Israel organization in the United States and one of the leading Christian grassroots movements in the world. CUFI spans all fifty states and reaches millions with its message. Each year CUFI holds hundreds of pro-Israel events in cities around the country. And each July, thousands of pro-Israel Christians gather in Washington, D.C. to participate in the CUFI Washington Summit and make their voices heard in support of Israel and the Jewish people.
Zion Oil & Gas, Inc., a Delaware corporation, explores for oil and gas in Israel in areas located on-shore between Haifa and Tel Aviv with a total area of approximately 327,000 acres in petroleum exploration rights.
Related posts:
- Zion Oil Announces Proposed New Drilling Subsidiary
- Zion Oil Announces Rights Offering
- Zion Announces New President/COO
Noble: ‘We say potential, Israelis hear discovery’
July 13, 2010
Noble's Charles Davidson
Investors should be cautious and differentiate between concepts and reality, says chairman of gas explorer.
By Eytan Avriel Haaretz
The probability that natural gas will be found in the deepwater prospects being explored by Noble Energy and Delek Group – the Leviathan prospect – is 10% to 15%. That is a probability, which by definition does not mean “sure thing.” However, says Charles Davidson, CEO of Noble Energy, he hesitates to talk about the prospect because some people in Israel relate to announcements of potential as though they were announcements of actual discoveries.
“That worries me,” he said on a panel on oil and gas exploration at a conference of the Tel Aviv Stock Exchange in London on Thursday: Oil exploration is a high-risk business.
What Noble does, Davidson said, is manage risk in a portfolio of opportunities. Investors should be cautious and differentiate between concepts and reality. Reality is the gas discovered at Tamar.
At the lowest part of the areas the partners looked at, there is the potential of oil, but – Davidson stressed – that doesn’t mean there is oil there. It has never been tested.
Systems of the type down there can produce oil, Davidson said, but one has to check whether a reservoir of trapped liquids of the type is actually there.
Gideon Tadmor, CEO of Delek Energy, fielded a question about the difference between investment in fossil-fuel exploration for the long-term, and as a speculative investment. In his view the difference lies in the company’s diversification: picking a company involved in one project is speculative. The more projects the company has, the better it is, Tadmor said.
One also has to check the company’s ability to actually do the job, Davidson added. For instance, to drill at Tamar, the partners had to bring in a rig from Africa. By the time the exploration was done, the cost had reached $300 million. Not every company could pull off a job like that.
On the geopolitical risk of drilling in Israeli territorial waters, given claims by Lebanese and Cypriot elements that they own a share, Davidson said Noble employs companies that analyze risks unrelated to the actual drilling, and in their opinion, Israel ranks well. Noble has been working in Israel for 12 years, Davidson said; obviously it feels comfortable about it.
“There are areas more problematic than Israel,” Tadmor added; Israel is relatively safe. “I see no geopolitical risk in our explorations.”
Related posts:
- Noble Energy to be honored for Israel gas discoveries
- Noble Energy plans $530m investment in Israel
- Noble Energy Declares Dividend, Stock Upgraded
Zion Oil Concludes Field Seismic Acquisition
July 13, 2010
Zion Oil & Gas has successfully concluded acquisition of field seismic in both their Asher-Menashe License and Issachar-Zebulun Permit areas. The raw data is now being processed for interpretation, both in Israel and in Houston, Texas.
On June 16, 2010, field acquisition of new 2-dimensional seismic in the Jordan River Valley section of Zion’s Issachar-Zebulun permit area was successfully concluded. Approximately 30 km of new seismic data was collected on Zion’s behalf by the Geophysical Institute of Israel (GII).
According to Zion CEO Richard Rinberg, “I am pleased to report that the data acquired does seem to be of good quality. This was not easy to achieve, as in the Asher-Menashe license area, there are some major roads. One night, we arranged for the police to stop the flow of traffic, so that the traffic ‘noise’ would not affect the seismic acquisition.
“Even with the latest computer technology, the data processing will take a number of weeks to produce results and then the resulting information will need to be carefully built into our geologic computer model by Zion’s geologists. As a result, we should be able to have a much better picture of any geologic structures under our exploration areas and therefore make better decisions regarding our future exploration plans.”
This data is now being “processed” by a geophysical consultant in the United States into usable graphic imagery that can then be “interpreted” by Zion geologists in their investigation for future drilling prospects. The processing and interpretation of this data is expected to be finalized by October 2010.
‘Field seismic’ or ‘seismic reflection’, according to Wikipedia, is a method of exploration geophysics that uses the principles of seismology to estimate the properties of the Earth’s subsurface from reflected seismic waves. The method requires a controlled seismic source of energy, in this case, trucks equipped with seismic vibrators, commonly known by the trademark name Vibroseis. By noting the time it takes for a reflection to arrive at a receiver, it is possible to estimate the depth of the feature that generated the reflection. In this way, reflection seismology is similar to sonar and echolocation.
Zion Oil & Gas and other exploration companies use this seismic reflection technology to ‘see’ possible hydrocarbon bearing structures below the earth’s surface by ‘interpreting’ the reflected seismic data.
Related posts:
- Gas Field Near Haifa Exceeds Expectations — Again!
- Zion Oil Jan 15 Update
- Zion Oil & Gas Newsletter March 5
Begin with the End in Mind
July 13, 2010
“Begin with the end in mind” - That’s another one of Stephen Covey’s “Seven Habits of Highly Effective People”. I didn’t want to steal Covey’s ‘habit’ for my title, but it’s a pretty good fit, so we’ll let it stand. Covey asks you, gentle reader, to close your eyes and imagine that you have just walked [...]-
Best Sellers
