Zion Oil & Gas receives regulatory approval for MJ-01 recompletion project

Zion Oil & Gas announces the approval of its workplan by the Israel Ministry of Energy for its MJ-01 recompletion project. Exploration License 434 spans approximately 75,000 acres. Amidst the war in Israel following the atrocities on October 7, Zion has maintained secure operations with the site and rig unharmed. The company now targets a Q1 start date post-holidays. Zion has secured service contractors and ancillary items required for efficient operations. This workplan approval follows the acquisition of Exploration License 434 on September 19. This “Megiddo Valleys License” spans approximately 75,000 acres and signifies a deep commitment to Israel’s energy landscape.