Zion Oil & Gas Inc (ZNOG)

[JRyan]

Givot! What is the deal with them anyway?

The Givot Olam partnership obtained the Rosh HaAyin prospect in April 2002, but has since conducted only three drillings: Meged 4, which included a side drilling and a horizontal drilling; Meged 5, which was drilled twice in the same place; and Meged 6, which also included a side drilling. Only Meged 5 produced oil, and oil production was completely discontinued in April 2017.

Givot Olam Oil Exploration - Limited Partnership (1993) (GOOXF)
Other OTC - Other OTC Delayed Price. Currency in USD

Market Cap (intraday) 5 198.7M ( I think in Israeli monies not US $)
Total Cash (mrq) 1.95M

Avg Vol (3 month) 15.38k
Avg Vol (10 day) 14.43k
Shares Outstanding 10.57B
Float 9.83B

Now if one was asking what happened, they should be looking at the 10 Billion shares issued, yeah that is a "B". That is a real problem when raising more funds. It took them a while but they did hit commercial oil.


Here, take a look, the math works! Go figure.

In 2009 the Meged 5 well was drilled and commercial quantities of high quality crude oil (API 39-40) were produced. Production started in 2011 and continues until today.

Cumulative production from Meged 5 is 700,611 barrels (approx. 110,681 m3) as of 31.03.2015.

Givot

Of course that was not enough to make up for the share dilution.

Givot Admits: We Can't Estimate Scope of Oil Reserves at Meged-5
Production test disappoints investors with only 44 million barrels of oil reported, and no word on how much of this will be economically feasible to pump.

Seems that 50 Million barrels will put ZN around $9 a share before PE ratios are included.


What happens if it's more? See what Givot said in 2004.

There could be a reservoir of 980 million barrels of oil at the Meged-4 well northeast of Kfar Sava, exploration company Givot Olam said yesterday, reporting geological findings to the Tel Aviv Stock Exchange

Givot Olam Reports $6 Billion Oil Reservoir Near Kfar Sava
There could be a reservoir of 980 million barrels of oil at the Meged-4 well northeast of Kfar Sava, exploration company Givot Olam said yesterday, reporting geological findings to the Tel Aviv Stock Exchange.

Amiram Cohen
May 05, 2004 12:00 AM

Petroleum Commissioner takes back Givot Olam licenses
https://en.globes.co.il/en/article-petroleum-commissioner-takes-back-givot-olam-licenses-1001242978

The oil potential in the Meged field is estimated in the hundreds of millions of barrels, but Givot Olam, which held drillings there in recent years (up until April 2017), managed to produce only relatively small quantities from it. Givot Olam began producing oil from the Meged 5 field in 2011 and had produced just over one million barrels by the end of 2016, most of which were sold for $84 million. At the same time, for most this time, the partnership suffered losses, among other things because of production malfunctions and investment in development of Meged 6. Eventually, the partnership ran out of money and discontinued its activity.

Of course we have been told there is no oil, they must have found Olive Oil or something?



Givot information

http://www.givot.co.il/Index.aspx?l=2

https://www.haaretz.com/1.5116309



Be not afraid ZN, you only have 60,000,000 shares outstanding and no debt. The only thing is 6 million of those shares are short and those that counted on the stock crashing are now trying to by those shares back. I would assume that at least 3 million of those were sold at $4 or higher. A jump to $10 a share means that someone will loose a lot of money. $20 million is a good guess. I mean that should not be hard as the capitalization has dropped $45 million in three days right? It will continue to drop more and you will be able to buy those shares at a $1 and make $3 profit......./s

Or will you?


What a nice day it will be if something like this was announced,



One will surely be able to get cheap shares then!