Hello Peter
Here's an article that might interest you. But then, maybe you know about this already.
Holy Land's oil, gas potential Russ Jones - OneNewsNow - 2/21/2012 10:55:00 AM A Dallas-based company that explores for oil and gas off the coast of Israel has announced it is expanding its operations there. Company officials for Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced Monday at the National Religious Broadcasters convention in Nashville they will expand their exploration territory from 218,000 acres to 530,000 acres in northern Israel. The publically traded stock company will re-enter a well it first drilled in 2009 -- the same year that a natural gas discovery was announced, approximately 50 miles west of Haifa, off the Israeli coast. In April 2010, the United States Geological Survey (USGS) issued a report which revealed massive amounts of undiscovered oil and gas remain in the "Levant Basin" -- which encompasses both onshore and offshore areas and most of middle and northern Israel and coastal Lebanon and Syria. Richard Rinberg, CEO of Zion Oil & Gas, spoke during a press conference at the Gaylord Opryland Hotel in Nashville. He said he is optimistic about the prospects of hitting oil -- particularly because Israel is surrounded by other oil-rich Middle Eastern countries. "Historically Israel has always been energy-starved, which leaves it in a very weak position," he noted. Victor Carrillo, president and chief operating officer of Zion Oil, said the company is working hard to help Israel be energy-independent. "Certainly offshore we've seen those world-class reserves, but even onshore," he stated. "And as [founder] John Brown ... says, it's not a matter of 'if' but 'when' it will be found." While many experts believe Israel is barren of oil, Zion executives believe biblical prophecies reveal where Israel's oil is located. http://www.onenewsnow.com/Business/Default.aspx?id=1540338
|