Zion Oil & Gas: Rises on signing LOI to buy drilling rig

Zion Oil & Gas

06/02/2020 15:54

** Shares of oil and gas producer  ZN.O  up 5.7% at 30 cents
    ** Co enters letter of intent to purchase drilling rig for
ongoing 2020 exploration plans  urn:newsml:reuters.com:*:nPn34DTh7a
    ** This rig will have increased capabilities for onshore
drilling in Israel, and ZN sees it as a vital part of its
operations going forward - COO Robert Dunn 
    ** ZN says it will be a cash purchase payable in full at
closing, with no financing required
    ** Including session's gain, stock has nearly 76% YTD

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
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arundhati.sarkar.thomsonreuters.com@reuters.net))