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Pursuant to the contract, AME will supply a completely refurbished and updated 2,000 horsepower rig and crews to drill Zion's planned Ma'anit-Rehoboth #2 well directionally to below 18,000 feet. A According to Zion it has received positive notifications on almost all of the required Israeli permits (other than crew work permits) related to the Ma'anit-Rehoboth #2 well and is now working on the location site to prepare it for the arrival of the rig. A The company proposes to drill its second well, on Zion's Joseph Licence, to the Triassic Formation (down to a depth of 15,400 feet) and/or to the Permian Formation (down to a depth of 18,040 feet), drill a test well on Zion's Asher-Menashe Licence to the Triassic Formation and, if appropriate, the Permian Formation and prepare for the drilling of an additional well on either its Joseph or Asher-Menashe Licence.
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