Actually Pastor Rogers i read this summer that Israel found some new oil discovered. Gave 2 websites at the end of this post.
Zion Oil & Gas Inc. plans to go public.
On July 15, the energy company filed with the Securities and Exchange Commission for an initial public offering of stock.
Zion's U.S. headquarters are in Dallas. The company is based in Herzliya, Israel.
According to the filing, Zion's common stock will be priced at $5 per share on the Nasdaq market. Zion hopes to sell between 1.2 million and 5 million shares, worth between $6 million and $25 million.
Zion's registration statement described its stock offering as "very risky."
"We plan to spend most of the money raised to prepare for and drill one or more 'wildcat' oil and gas exploratory wells in the state of Israel," the registration statement said. "Your investment will be subject to a combination of the highest risks associated with new ventures, oil and gas exploration and political uncertainty."
Zion plans to drill at least one well for oil and gas in the Joseph Reef area of Israel bordering the West Bank between Haifa and Tel Aviv.
Zion recorded total audited capitalization $490,846 as of Dec. 31, 2002.
The company listed 72 shareholders of record as of July 11. Chairman and CEO John M. Brown currently owns 69.5% of Zion; director Ralph DeVore owns 18.1%.
http://dallasgotcha100journals.com/dallas/stories/2003/07/14/daily28.htmlISRAEL OIL AND GAS INDUSTRY UPDATE
http://www.zionoil.org/update.htm