Fresh from its latest failure to find commercially viable quantities of oil at its onshore Israel acreage, Biblically-inspired wildcatter Zion Oil plans to resume testing on 14 October. The controversial firm acknowledged on 16 August that lengthy testing of its Megiddo-Jezreel 1 well “cannot be considered commercially successful,” but called for more shareholder funding to enable further testing. Shareholders were sufficiently undeterred by Zion’s past...
Zion Oil’s Investors Keep The Faith
Published on Fri, 28 Sep 2018 - Volume: 61 Issue: 39Print
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