Zion Oil & Gas several months ago began drilling at its new license in the Jezreel Valley, following the vision of company founder John Brown, who believes vast amounts of oil will be found in the Holy Land to the benefit and blessing of Israel.
The Dallas-based Christian-run company announced on Tuesday that it has found clear evidence of oil at the well.
During operations to clean the well bore, Zion reports that it it encountered "free-flowing" oil while circulating the drilling mud.
This is a big breakthrough, and offers more than a little hope that there are, indeed, substantial oil deposits in the Promised Land.
In a statement released by the company, Zion's President and Chief Operations Officer, Dustin Guinn, said that this "is obviously very exciting news and as a result, we have decided to continue to drill up to another 70 meters (about 230 feet). We expect that to take a couple of days, and barring any operational difficulties, we will continue with our open hole logs immediately thereafter."
Zion CEO Victor Carrillo cautioned that the company cannot yet "comment on the commerciality or ability to successfully produce the well," and urged backers and shareholders to "continue to pray for safe and successful drilling…and for God's wisdom for management as we make key decisions in the following days and weeks."