Dallas-based Zion Oil & Gas Inc. (Nasdaq: ZN) has appointed Victor Carrillo, a member of the company's board, executive vice president. Carrillo will continue to serve on Zion's board; however, in his new position, he will be working on a full time basis on the company's oil and gas exploration activities.
Carrillo joined the board in September 2010. He is a petroleum geologist and geophysicist, attorney and former county judge. Carrillo has more than 20 years of experience in the oil and gas industry, specifically in E&P, and was most recently chairman of the Texas Railroad Commission.
Zion is currently drilling its Ma'anit-Joseph #3 well in Northern Israel and has reached a drilling depth of approximately 16,000 feet (4,876 meters). The Ma'anit-Joseph #3 well has targets in both the Triassic and the Permian geological zones. The primary target is a Permian age formation, expected at a depth of over 19,000 feet (5,790 meters), making the Ma'anit-Joseph #3 well one of the deepest wells ever drilled onshore Israel.
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