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(From Israel Business Arena)
Byline: David Hayoun
Givot Olam Oil Exploration Limited Partnership (TASE:GIVO.L) announced today that it will conduct production tests at the Meged 4 drill site, where signs of oil have been found in recent weeks. Corelab of Houston, Texas, conducted the initial analysis of the electrical tests of the drill site.
Givot Olam stated that it had found a number of significantly porous and conductive sectors with high saturations of oil at depths between 4,320 and 4,860 meters.
Givot Olam said the saturation figures indicate a high level of oil. The decision to conduct production …