Zion Oil & Gas, Inc. announced on May 5, a significant milestone in its ongoing exploration efforts in Israel, reporting that initial flowback operations at its Megiddo-Jezreel #1 (MJ-01) well re-entry have resulted in natural gas reaching the surface. This positive development follows the successful completion of targeted perforation and stimulation operations within the well.

The company confirmed that gas was observed at the surface during the early stages of the flowback process. This indicates the presence of a potentially productive gas reservoir within Exploration License 434, also known as the "Megiddo Valleys License," which encompasses approximately 75,000 acres onshore in Israel.

Zion Oil & Gas has been diligently working on the re-entry of the MJ-01 well, located within its exploration license area. The recent success with perforation and stimulation techniques was a crucial step in assessing the hydrocarbon potential of the targeted zones. These operations are designed to create pathways for oil and gas to flow from the reservoir rock into the wellbore.

Currently, the MJ-01 well is in the phase of stimulation fluid recovery and cleaning. This process is essential to remove the fluids introduced during the stimulation process and allow for a clearer assessment of the reservoir's natural flow characteristics. Zion Oil & Gas is actively sourcing additional specialized equipment to facilitate the continuation of flowback testing. This advanced testing will enable the company to conduct a comprehensive volumetric analysis, which is critical for evaluating the size and quality of the discovered gas reservoir.

The achievement of gas to surface during this initial flowback is a promising indicator for Zion Oil & Gas and its stakeholders. It validates the geological interpretations and the effectiveness of the drilling and completion techniques employed. The subsequent flowback testing and volumetric analysis will provide crucial data to determine the commercial viability of the discovery and guide future development plans for the Megiddo Valleys License.

Zion Oil & Gas remains focused on its strategic objective of exploring for and potentially producing oil and gas onshore in Israel. The Megiddo Valleys License represents a significant acreage position in a region with historical hydrocarbon occurrences. The company's commitment to thorough exploration and evaluation is underscored by its ongoing investment in advanced technologies and experienced personnel.

This announcement will likely be met with enthusiasm by investors and observers who have been closely following Zion Oil & Gas's progress.