Feverish testing to verify the presence of more oil at the Heletz site of Israel’s first oil strike continued today. A spokesman of the Ministry of Development said that he is optimistic about the prospects.
“The optimists among us believe that Israel will get half her annual consumption from this well,” the spokesman told the Jewish Telegraphic Agency. This would mean that Israel would save about $20,000,000 a year in foreign exchange. Final results of the current testing will not be known until sometime tomorrow, it was indicated.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
