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Israel Discover 1.5 Billion Barrels Of Oil

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posted on Aug, 21 2010 @ 12:04 PM


Estimates of the amount of oil in the Rosh HaAyin discovery have rises to 1.5 billion barrels, and there is more oil off-shore, but it is not yet known how much of the “black gold” can be extracted for commercial use.
(visit the link for the full news article)

Related News Links:

Mod Edit - All Caps Title.

[edit on Sat, 21 Aug 2010 12:05:37 -0500 by MemoryShock]

posted on Aug, 21 2010 @ 12:04 PM
I find it amazing that they never found this oil before,1.5 billion barrels and a lot is off shore but that wont stop them.I hope they are good enough to export at a decent rate to the u.s.there are gas and coal finds too.The oil is ment to be of a exellent quaility. It is likely to have Israel self sufficent for the next 30 plus years with this find.A full engineer report will be ready at the end of september or the middle of the month at earlist.
(visit the link for the full news article)

posted on Aug, 21 2010 @ 12:10 PM
reply to post by johnny c

Interesting. A lot of the "rationale" behind a Gog/Magog invasion of Israel has always centered around natural resources over the natural hatred and so it has always been expected that in the last days Israel would uncover some type of substantial natural reserve. I doubt this is it though.

posted on Aug, 21 2010 @ 12:12 PM
reply to post by johnny c

Pfft please.. they knew the oil was there. Coincidence that their global popularity is plummeting and suddenly they "find" oil?

"hey look USA.. don't hate us.. we just found all this oil, we'll share if you keep backing us against Iran!"

..or maybe i'm just growing cynical..

posted on Aug, 21 2010 @ 12:19 PM
Although it has been speculated that Israel has Oil deposits with the Tar that bubbles up from the Dead Sea and the Med there has never been a confirmed report..not to Joe Public anyway.

I see this as a complete game changer in the Middle East situation.

What i would like to know now is, how deep is the deposit?
Now that we are pretty sure oil is abiotic, is this field underneath the Middle East field or is it another part of it?

It would be ironic if it was the deep abiotic feeder of M.E. oil.

posted on Aug, 21 2010 @ 12:25 PM
This news is fairly huge, I think it should be in BAN

Who has found the oil exactly, that's the fist question

Givot Olam Oil
Company Claims 1.5 Billion Barrels of Oil Found in Israel

In a preliminary report to the Tel Aviv Stock Exchange, Givot Olam Oil estimates there are 1.525 billion barrels of oil at its Rosh Ha'Ayin site, located about 10 miles inland from the Tel Aviv coastline.

John Brown, the Christian founder of Zion Oil & Gas, is also cautiously optimistic. "Until we physically see it, we really don't know," Brown told Charisma. "We hope it's the truth. We want all the success in the world for Israel, obviously."

Givot said that its calculations, on the basis of the findings, show that the quantity of oil in the Meged structure for all the eight sections of the well was 19 million barrels of oil. The breakdown is as follows: nine million barrels of oil in sections 7 and 8 together; 4.6 million barrels of oil in section 6; 3.9 million barrels of oil in sections 2-5; and 1.5 million barrels of oil in section 1.

Givot cautions that production tests on sections 7 and 8 (which account for 47% of the total figure above) have not yet been conducted, so it is premature to determine whether the sections contain oil or free gas. The calculation assumed that these two sections contain oil.

Meged Structure, what's that?
more oil?

Givot Olam Oil Ltd notified the Tel Aviv Stock Exchange of the find in its "Megev Five" drill near the town of Rosh Ha’ayin, saying it can produce 470 barrels of oil a day.
The firm also announced it would start natural gas exploration at the Leviathan offshore prospect off Israel's coast in the fourth quarter of this year. The latter announcement came in the wake of estimates of 16 trillion cubic feet of natural gas in the prospect.

That's a whole LOT OF OIl!

posted on Aug, 21 2010 @ 12:27 PM
Well..the way I see it, that's just another reason why they no longer need foreign aid from the USA.

posted on Aug, 21 2010 @ 12:40 PM
reply to post by ararisq
Thanks for the reply Ararisq, interesting you should say that i only done this thread not so long ago
Israel Warns World War III May be Biblical War of Gog and Magog
I never knew that about some sort of natural reserve being un earthed,
thanks for the tip

posted on Aug, 21 2010 @ 12:41 PM
reply to post by hadriana
I agree with you big time!! It should be pay back time

posted on Aug, 21 2010 @ 12:44 PM
reply to post by ModernAcademia
Thanks ModernAcademia for the added information and the reply

,just going for my dinner and ill have a good read of the links suplied

posted on Aug, 21 2010 @ 12:49 PM
reply to post by Cosmic4life
I agree with you Cosmic4life,if there if this much there,god only knows how much is in the whole area.You are also very right these things are never said to joe public,i have a uncle that used to be president of phillips 66 petroleum,ill get one the phone later for his advice.I would reckon this will totally flip the middle east situation on its head too if amazing amounts are still to be found and are found.
thanks for your reply

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