Zion Oil & Gas awarded new Megiddo Valleys License 434 for Israel exploration

ZION OIL & GAS INC

License 434 covers ~75,000 acres (302 sq km) in Israel, valid 3 years with extensions up to 7 years until 2030.
Company plans re-completion of MJ-01 well using new stimulation methods to unlock hydrocarbon flows.
Service contractors procured; operations expected to start in Q4 2023.

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