Fully invested in secondary oils (100% long)
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Moses... I am not sure about those colors, but I do know that it is an oilfield and not a gas field, because they found "non-commercial amounts of oil" in the last 3 wells that they drilled on the outer limits of this same formation (there was no mention of any gas)... There is probably some "solution gas" in the oil, which will bubble out and become natural gas at the surface... Also, an "oil-water contact" has some oil in the water, and some water in the oil.
If you study this idealized well log, you might be able to figure out what some of those tracks on the Zion log mean... Good luck!
http://www.slb.com/-/media/Files/resources/oilfield_review/defining_series/Defining-Log-Interpretation.pdf?la=en&hash=3DD25483EEE6EBAA69320AF7612AB9E9C4066993
No, just oddlot sales take one day to settle!
Also, at exactly 1:35 at the very bottom (where red number 1 is written in) it has the same thing typed in (HYDROCARBON W FAIR PERM & WTR)... This means that they have not just one, but several producing zones in the first 2000 meters!
This is an old video which clearly shows they have discovered oil!... In Track 7 there is a red number 6 (hand written in) at 1625 meters where it is typed "HYDROCARBON W FAIR PERM & WTR" which means "crude oil, in rock that has enough porosity and permeability for the oil to flow into the well without the need to do any fracturing!" ("water drive" is the best drive possible, with about 80% of oil in place recoverable)... This is great news, because it means they had a successful well almost right away! (with much more to come!)
ROTFLMAO!
Re: Noble Energy...
As of December 31, 2016, the company had 1,437 million barrels of oil equivalent (8.79×109 GJ) of proved reserves, of which 68% was in the United States, 23% was in Israel, and 9% was in Equatorial Guinea.
Of the company's total proved reserves as of December 31, 2016, 62% was natural gas, 15% was natural gas liquids, and 23% was petroleum.
In the United States, the company's primary holdings are in the Wattenberg Gas Field / Denver Basin in Colorado, the Delaware Basin, the Marcellus Shale, and to a lesser extent, in the Eagle Ford shale.
As you can see, those gas wells that Noble Energy has in Israel are peanuts compared to the giant oilfield that Zion has!... I seriously think Zion has at least twice as many barrels of oil equivalent as Noble has world-wide!
I think Zion management has the experience and software to handle the entire operation in-house... Of course they will have to continue to contract drilling companies, logging companies, pipeline construction companies, etc., but I wouldn't be surprised to see them build a refinery, and a chain of gas stations, and become a major oil company!
tisdal... if a small wildcat oil company discovers a giant oilfield, it has every financial institution on the planet beating at its door to provide the capital it needs to develop the field... It does not need to issue stock or warrants, or merge with any other company!
tisdal... the most recent short interest is unchanged from the previous report, which means that the short-sellers are able to borrow the shares that those who are covering their positions no longer need... (As long as short-selling does not exceed short covering, there is no need to search for additional shares to borrow.)
Because I know how the independents operate!...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=133688975
Large block trades often occur at bottoms and tops...
(probably a short-term bottom, which means the "ascending triangle" is still in play)
Bullish because it maintains the high short interest ratio...
(number of days to cover)
Aha!... so we "Gap (up to 89) & Run!"
LETS "ROCK & ROLL!!!"
tisdal... that is an excerpt from this report, which we now know, was way too conservative!
https://www.zionoil.com/wp-content/uploads/2015/11/Resource-Assessment-Report-Zion-Forrest-Garb-Assoc-1Sept2015.pdf
According to recent updates, they are "very excited" about fractures, high pressure production zones, etc. that they didn't expect.
The formation is a "combination trap" (both structural and stratigraphic) because it consists of an anticline and and 3 separate faults... It is triangular in shape, and the first three "delineation" wells were drilled on the extreme points of the triangle... Now, this first "production" well is being drilled in the mid-point of the triangle, which is why it has proven to be so exciting!
The fact that they used such a powerful rig, with such wide-diameter casing is proof that they knew they were probably going to find much more oil than that study had estimated, even in its best-case-scenario imho
and I predict a big "Gap & Run" Tuesday!
(in spite of the absence of any meaningful news)
Middle East Oil Fields...
The large petroleum traps of the Middle East were formed by plate tectonics. Almost all the Middle East oil field traps are anticlines and domes. The mid-ocean ridge in the Red Sea is causing Saudi Arabia on the Arabian Plate to move northeastward and collide with the Eurasian Plate. The Persian Gulf area is being compressed between the two plates, forming the Middle East Field traps. The deformation becomes more intense in a northeastward direction from Saudi Arabia toward Iran and Iraq and forms the Zargos Mountains. Saudi Arabia alone has 85 fields with 325 reservoirs containing 25% of the world's oil reserves.
The Ghawar field in Saudi Arabia is the largest conventional oil field on earth. The trap is an anticline 174 miles (280 km) long and up to 18.6 miles (30 km) wide. The reservoir rock is fractured and dissolved limestone, the Jurassic age Arab D Limestone with an average oil pay zone of 200 ft (60 m). The reservoir rock is not very deep (-1,500 ft or -457 m below sea level). Salt layers in the overlying Hith Formation are the seal. The source rock is a Jurassic age black limestone. The average production of a Ghawar well is 11,400 bbl of oil per day, and the field will eventually produce 82 billion bbl of oil. The oil is 32 to 36 degree API gravity and has 1.7 to 2% sulfur.
Nontechnical Guide to PETROLEUM Geology, Exploration, Drilling & Production
Third Edition
Norman J. Hyne, Ph.D.
Come-on bears, was that the best you could do?
Congratulations, and I totally agree!... Look at this...
After Hours Trading
9/1/2017 05:59 PM
Last:
3.69
Change:
+0.22
Volume:
1,000
Let's Rock!!!
How Much Oil is in the Middle East?...
http://www.geoexpro.com/articles/2014/02/how-much-oil-in-the-middle-east
Why So Much Oil in the Middle East?...
http://www.geoexpro.com/articles/2010/01/why-so-much-oil-in-the-middle-east-cd8a38e3-b5f5-462e-979e-2b3bb804dcee
and I already am betting money that this is just the beginning of "Primary Wave 3"... I think you are going to be left behind holding the bag!
That chart clearly shows extremely low volume on the break-down, which is a classic "bear-trap"... In any case it is now trading in a very narrow range between 2.58 and 2.68 so no reason to worry about a reversal yet.
If you look at a 5-min chart, you will see that the 3.60 level formed a horizontal resistance line while the lows were stepping higher... Then that line was broken to the upside into the current trading range of 3.58 to 3.62 as the lower limits and the HOD as the upper limit imho.
Yes!... What appears to be a "rising wedge" is actually an "ascending triangle" which has broken through the 3.60 resistance level, and now that level is providing strong support imho.
There is always some short covering, some short-selling, some buying, and some selling going on throughout the day... What is interesting to me is the fact that the volume today was so low that it would take the shorts 2 or 3 weeks to cover their positions, even if nobody else bought a single share!
"It's not the news, but how the market reacts to the news that matters!"
"A rise on news, is not nearly as bullish as a rise on no news!"
"Money is not made by trading, money is made by sitting!"
(Jesse Livermore)
"Buy the rumour, and sell the news!"
Yes Woody, it portends a big "Gap-and-Run" Tuesday imho...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=133986463
Methane hydrate is nothing new!... The problem is economics...
This is the key phrase...
"Though current low energy prices make mining methane hydrate economically unwise at the moment, China is thinking of the future."
The truth is, NOTHING can economically compete with crude oil and natural gas at current prices!... Nuclear power plants are being converted to natural gas... Coal-fired power plants are being converted to natural gas... Solar, wind, etc. etc. etc. CANNOT COMPETE with oil & gas at today's low prices!
Re: Short-term charts... The 10-day 30-min chart depicts an extremely bullish "cup and handle"
I think they are increasing their positions by buying the shares that the short-sellers are selling... If so, the short-sellers are caught in an enormous bear-trap that just slammed shut!
Thanks tisdal, that's great news!
Re: Zion Oil & Gas institutional holdings...
http://www.nasdaq.com/symbol/zn/institutional-holdings
The list of institutions holding shares of this company reads like a "Who's Who of world class investors!"
That's where you're wrong, Moses... Fundamental shorts are not "sophisticated traders"... They are "long-term investors!"
"The only traders who buy at the bottom, and sell at the top, are liars!"
When you say "very clear covering opportunity" you are speaking as a "technical short" with the benefit of hindsight, which in this case is totally irrelevant because they are "fundamental shorts" who think the stock is completely worthless and should be sold at any price above zero!... A short position can be held indefinitely (as long as you pay any interest due)... Day traders often hold short positions for less than an hour!
There are "fundamental shorts" and there are "technical shorts"...
As Tisdal said, the short-sellers have been sold a bill of goods as to the integrity of Zion Oil & Gas... They have been convinced that it is nothing more than an ignorant band of religious fanatics that know nothing about the oil business... So I guess you could say that they are "misguided fundamental shorts" who believe the shares are worthless!
"A wave 3 is a thing of beauty!"
A gigantic "bear trap" has just slammed shut imho...
That's right folks... Today ZN made an upside breakout from the big "falling wedge" on the daily chart which is a "MAJOR BUY SIGNAL"...
Also: An extremely bullish "cup and handle" has formed on the 2-day 5-min.
It's "SHOW-TIME" imho.
Re: "Short selling 101"... Rule #1 is "Never short a stock with a rising short interest"... Rule #2 is "Never short a stock that requires a premium to borrow" (Joseph P. Granville)
Also, it is not the short interest, but the "short interest ratio" (short interest divided by the average daily volume aka "number of days to cover" that is important... A short interest ratio of less than 1 is bearish, 1 to 1.5 is neutral, 1.5 to 2 is bullish, more than 2 is extremely bullish!... As Tisdal just mentioned, it will be interesting to see what tomorrow evening's update says!
"He who sells what isn't his'n, must buy it back or go to prison!"
Yes, tisdal!... That is a "perfect description" imho...
LET'S ROCK & ROLL!!!
The well will be cased all the way to the bottom as originally planned... The only thing that has changed, is the fact that they had to case this recent interval much sooner than expected (due to the fact that it is so productive) which means that the final casing string will be of a smaller diameter than originally expected. (Each casing string must fit inside the previous one, and goes all the way from the surface to the current bottom!)
http://www.rigzone.com/training/insight.asp?insight_id=333