Zion Oil & Gas 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 objective of the designed 60-kilometer survey is to acquire new geological and geophysical data to assist Caesarea-based Zion in selecting the optimal drilling site for a test well on its Ramot Menashe prospect and to upgrade the company's Nahal Me'arot lead into a drillable prospect.
The estimated cost of the survey, including processing and interpretation, is approximately $650,000.
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