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Israel Reports Second Oil Strike; Gusher Reaches 55 Feet in Height

Oil was struck at a second well at Heletz late Friday afternoon, it was reported here: The new strike was made when drilling had reached a depth of about 4,990 feet. Initial reports indicated that the gusher had reached a height of about 55 feet.

The second oil strike appears to be much more promising than the first oil strike in Israel last September. Dr. Tchop, Swiss chief geologist, has upped his estimates of the oil reserve in the Heletz area from 3.7 million barrels per square kilometer to seven million barrels. Other oil geologists in Israel have also upped their estimate of reserves in the whole productive horizon from the previous 30 million barrels.