A new oil strike, which erupted with a surge of pressure unparalleled by any previous find in Israel, was announced today in the Heletz fields. Oil experts said the new strike might mark the site of a new oil field but added that the commercial value of the new hole could not be assessed for some time.
The producing sands of the new find were estimated as being at 110 feet below the oil water contact of the older Heletz discoveries. Geologists attached considerable importance to the depth because it will open opportunities for wider oil exploration in other fringe areas of the Heletz fields, apart from the possibility of a wholly new field. The latest strike followed the discovery of traces of gas at Canaan on the Lapidot concession in an area west of the Dead Sea.
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.
