Middle East Economic Survey
VOL. LIII
No 18
03-May-2010
ISRAEL
Zion Rights Offer To Fund Drilling Plans
Zion Oil and Gas has said that it will be launching a rights offering which it hopes will raise some $46mn in proceeds if fully subscribed. The proceeds will be used to purchase a 51% interest in its recently announced joint venture Zion Drilling Inc, as well as fund the drilling of deep exploration wells on its two Israeli licenses and other corporate purposes. If the rights are oversubscribed,...
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