- Moses’ blessing to the tribe of Asher regarding oil in the allotment of land is continuing to come to fruition, as Zion Oil & Gas announced that it has definitely found oil and it is nearing testing the well for its ability to be use commercially
The company uses a map of the 12 ancient tribes of Israel and the biblical assertion – “And of Asher he said: Most blessed of sons be Asher; May he be the favorite of his brothers, May he dip his foot in oil.” – as an unlikely guide to help it decide where to drill. Zion’s vision is certainly biblically inspired, however the actions taken by the Zion management as it actively explores for oil and gas in Israel are based on the most cutting age modern science and technology.
“We also recognize that the goal of this well was to find oil, and we can say with absolute confidence that we were successful in attaining that goal,” said Zion’s President and Chief Operations Officer Dustin Guinn. “The next crucial step is being able to effectively test and establish the well’s commerciality. I am excited about this phase as it will be a crucial and historic moment for Zion and its shareholders.”
Israel is currently undergoing an oil and gas exploration boom, proving yet again that Moses did not take a wrong turn on his way to the Holy Land. Recently, Israel has seen some of the world’s largest discoveries of gas and oil, which have jumpstarted significant foreign investment into drilling and exploration rights. The most well known and lucrative being in December 2010 with the Leviathan natural gas field, which was the world’s largest discovery of natural gas in a decade. It is projected to have 16 trillion cubic feet of gas at a market value of $90 billion. Many experts believe there could be more than 4 billion barrels of crude oil below these natural gas deposits. Israel’s infrastructure minister called this discovery “the most important energy news since the founding of the state.”
Major reserves of oil have been discovered on the Golan Heights, which could make Israel self-sufficient for many years to come, according to drilling company Afek Oil and Gas. … Afek, a subsidiary of American company, Genie Energy, estimates that oil production at the site could potentially reach billions of barrels.
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