Zion Oil & Gas, Inc. (Nasdaq: ZN) announces they have signed an agreement for geophysical acquisition services with Acoustic Geophysical Services KFT ("AGS"), an international seismic company based in Budapest, Hungary.
"We estimate that the vessels carrying the trucks and equipment will arrive by the end of August," Zion's COO, Robert Dunn said. "Barring any unforeseen circumstances, we expect the equipment to be on location within the first few weeks of September."
"We are pleased with our progress to date on this important 3-D seismic survey," stated Zion's President, Bill Avery. "We believe it will be the largest high-density land 3-D seismic acquired to date in Israel."
AGREEMENTS AND UPDATE ON 3-D SEISMIC PROJECT
In addition to the signed AGS agreement and expected equipment arrival, Zion reported significant progress on the following items:
"We want to thank our dedicated shareholders and the nation of Israel for the opportunity to become true pioneers with this 3-D program," expressed Zion's CEO, John Brown. "We also would like to acknowledge the hard work of Zion's Israeli team for the tremendous effort and professionally navigating the logistical challenges."
Source: Zion Oil & Gas, Inc.
Date: Aug 15, 2019