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zn has a lot of confidence to expect the 10 mil in only ca 6 weeks,but zn does have an unusually large investment pool
not re your post infocus, but re any r/s,that assumes zn will show no value before that has to be considered or executed anywhere from 6-12 or more months from now
and zn has other options also, as previously explained
my norton blocked both of your links saying, dangerous web site blocked-tried it twice-and then a search turned up empty- so dont know what- forbes article should be ok -only thing i could see-unless somebody had re-posted it someplace unusual?
just saying in case u need to check your firewall etc
extending existing classes of warrants for another year as a gesture of good will towards such warrant holders and a confirmation zn is seeking long term value for its shareholders-a goal emphasized in the june and aug 16 PR's
thereby assuring future warrant holders etc that zn would do what was necessary to preserve longterm shareholder value
https://www.otcmarkets.com/filing/html?id=130...nhXzFNENyh
we/ve already posted many times why most major oil companies have avoided onshore israel-
for geopolitical reasons such co's didnt want to offend the saudi oil tap- remember the 1973 yom kippur war when the saudis used oil as a political weapon,and still do
now the saudis and egypt are pressing other arab states to accept israel,so that might change,but why should those who were blown about about by every wind of deception reap the rewards at this late date without doing the pioneering work?
thats not the way this works-it violates the law of vision, work and reaping.
did the vikings reach the americas?
columbus thought he had reached the east indies;it took many hundreds of years to map the americas
why shouldn't it take up to a year to complete the pioneering mapping in 50000 sq kilometers surrounding mj#1
given the expense /effort displayed in this well-expenses well posted about-why shouldnt they?
saying theres no oil in israel or theres no oil before any well is even spudded doesnt make it true.
especially after the huge gas fields discovered in offshore israel
most pioneers were laughed at and considered crazy by those who couldnt even dream of a vision-its easier to continuously say no than to actually do some thing.
the world has greatly benefited from those who actually did something- though they dont recognize the source of their undue benefit.
thanks - i see it in its full glory in the ibox now - i apologize i didnt notice it under the research link before.
again thanks for all the ibox work (which for the uninitiated only mods can do)
your ibox links are starting to look like the research links for a thesis
i was going to re-post an earlier post of mine showing a good diagram for directional wells but couldnt find my post yet(it might even be in your links)
but anyway, depending on cost benefit analysis, zn can use a directional well from the same pad,as i noted before,and as you and tisdal have again noted, as directional wells can run at least 16000 ft horizontal(the depth of this mj1 well)and that reach is getting longer every year
and thus,using a directional well,zn could reach ANY point within the 2.5 mile radius of zn's planned 3d survey-so a new pad would NOT be necessary-which is good news
thanks for all your informative posts -i really appreciate them,and that of so many others -including kyoil, tothe, tisdal, axle cowboyeeee,jryan,motowngirl, believer 7777 and others
i dont often spell out my thanks for posts here bc i dont want to clutter the board w my thanks
and a solomon(sp?an 'a' in there somewhere)post weeks back,watch out that post put you in a very rare earthly club-that of wisdom not understood nor appreciated but hated by the die welt
copious geophysical info and pr's etc showed they used science to locate the place to drill as they will going forward, though the 99000 acre concession was likely chosen by a combination of science and faith,as well as previous wells
very good-the ff article says 3d is relatively recent- zn no doubt was trying to save costs-if zn had previously used 3d some no doubt would cry waste
dont know how prevalent % of 3d is in oil industry -but in the mining stocks i've followed very few have used 3d so far
tisdal, could you re-post your map of previous zn wells- dont see it in the ibox
it really seems that each dry well- noncommercial -is by the process of elimination leading them to the deep oil hiding-deep speaks to deep-and would seem to be reserved onshore israel to the only present wildcatter onshore israel,especially w this specific mission,something which requires wisdom- something the world knows nothing about
great things are rarely easy-if they were, somebody else wold do it
the 2.5 mile 3D radius kyoil mentions would most likely allow zn to drill the next well from the same pad-lateral wells have gone over at least 3 miles
that and the plans to pursue the 1st active petroleum system they've encountered syncs with what i've heard,plus the 1st water or water monitoring well-water before oil
r/s of 20 is ridiculous- zn has 6-7 months before it even has to decide how to get pps up to 1 dollar again- and at the moment a r/s of 3:1 would be sufficient -but there is no rush-other factors could extend the 180 day period (after notice of deficiency of pps) another 180 days as i've cited from articles
and as i've posted e.g., another dallas based oil co which has been below 1 dollar pps for at least 5 years on a major exchange- ca 24c now, as it has been for a long time
if other factors are met -such as captilization/market value etc the 1 dollar min bid is not necessary
https://www.oilandgaslawyerblog.com/how-do-seismic-surveys-work/
i think its one of the derivative delaware shareholder suits mentioned in the 10q,p.33
wildcatters by definition are always running out of money until the next fundraising,as zn has done for 18 years
the unexpectedly short testing period for latest round saved money-and thus extends the time before they runout
besides as noted many times, in a conservative legal doc like 10q's,they are required to essentially report worst case scenarios
anybody who has any knowledge of zn history will note that zn has made such statements in previous 10q's, as required, but never ran out of money-at least not for long
very few companies have a potential donor base of 100's of millions
bible belt conferences and opportunities to talk about zn at such are frequent
just send mr brown on the road again,armed w maps of where oil ha not been found in commercial quantities,thus closing in on the areas where it must exist,as per facts and faith
https://www.otcmarkets.com/filing/html?id=13051413&guid=2D5bUKvkPi_TMth
p.2 of 10q -gain on the derivative liability(a contingent liability,contingent on future situations which impact such liability) resulting from the bonds which zn issued and which are due ca 2021
thus giving zn a 'on paper' gain ca september for such of over 3 million
"Gain, (loss) on derivative liability 3,448" p.2 of 10q
there are discussions of these bonds interspersed throughout the 10q's
derivatives are a tricky mess
and deep earthquakes need not cause any appreciable damage on the surface
there is nothing foolish about using acid stimulation just as the saudis and others do
and the acid is expected to produce water as it contacts especially softer rocks like dolomite and limestone which are interspersed throughout the area -i provided previous cites on these things
the % of water in the completion fluid has very little to do with the potential oil which can be produced after the acid 'fracking' opens up the nonpermeable zones,as explained many many times
due to geological processes most water sources will possess some chloride-its unreasonable to demand a zero concentration of chloride,especially in a desert area
most ppl who are still breathing recognize that many cities add salt to the water in the form of chlorine to improve its safety
its all relative-israel has thought of bringing mediterranean water w ca 3.5 % salt to the dead sea,which is 33.7% salt -which salt is very valuable and one of he reasons postulated by many for the future russian invasion of israel
similar seawater proposals/canals have been made for the salton sea in southern california
https://www.sciencefocus.com/planet-earth/how-much-salt-is-there-in-the-dead-sea/
http://www.who.int/water_sanitation_health/dwq/chloride.pdf
Chloride concentrations in excess of about 250 mg/litre can give rise to detectable taste in
water, but the threshold depends upon the associated cations. Consumers can, however,
become accustomed to concentrations in excess of 250 mg/litre. No health-based guideline
value is proposed for chloride in drinking-water.
and they did find some oil as per feb 13 and aug 16 pr's,just wasnt commercial
or else in the deeper zones, as noted by the cite below,zn wasnt allowed to frack to open up the triassic zones- a larger acid stimulation job might have been considered fracking-that was left hanging in the aug 16 pr and we dont know what happened re further testing for the triassic
https://www.otcmarkets.com/filing/html?id=12923779&guid=2D5bUKvkPi_TMth
thanks tisdal, thought i would repost as a reply to your good post so others could remember
since the facts are ignored,
below we see logical reasons to believe zn will succeed
also, by the process of elimination- discovering where commercial oil is not,they are inevitably though slowly targeting the hidden oil which both faith and facts says is out there
Friday, 11/23/18 03:18:15 AM
Re: tothe post# 29954 0
Post # of 30089
very interesting
i dont know why anybody would presume this is the end
zn, like a typical wildcatter, has had many dry wells
bc 100's of millions of a certain group worldwide believe in blessing israel,zn has an unusually large potential donor base
we saw zn's ability to raise money under difficult conditions at a bad time of the year for fundraising when zn raised 5.3 million in august/september
its better to try and fail and keep trying than to never have tried
edison failed probably a hundred times in his efforts to create a light bulb(and succeeded only bc he lied to investors saying he had succeeded before he did to raise money-certainly not advocating that -just pointing out history)
many inventors and resource co's had similar experiences
not sure i understand all the posts about low chloride water-will have to read again- but i understand your post re the water and/or water monitoring,which zn may be able to monetize for some income
it would take israel millions to drill the well also-so renting the well from zn(after the well is plugged below the good water level depth)makes sense
the well is possibly well suited geographically to support israeli interests since its only ca 3 miles from the jordan river and ca 3 miles from the west bank-so a good geopolitical location
i dont know yet if the posts re water which i read yesterday had any influence on this but this morning when i woke up the thought,"a baptism of water",in connection w zn, went through my mind
many here are familiar with the baptism of water, which preceeds the baptism with oil
so that could be prophetic-when i get more time...
the levant basin which includes much of israel,has been prognosticated to hold much oil and gas,with such surrounding israel on several sides
just bc not much exploration has been done in onshore israel by big oil co's currying favor from the arab states has more to do w the geopolitical situation than with science,to their longtime loss
does anybody remember whether zn has had enough water in wells before to be used for the water content or for water monitoring- i dont remember any but i wouldnt know prior to 2009
both egypt and israel have had past plans for canals from the Mediterranean to bring water to the desert-in egypt the Qattara depression and in israel to the dead sea
wars are already being fought over water and such will increase,just as japan preemptively attacked the usa in an attempt to secure resources, for japan itself was resource deficient
good to see israel increasingly using desalination plants to help with the kinneret lake
yes -and one of the cites i quoted was below
https://thebowserreport.com/financial-news/the-nasdaqs-minimum-bid-price-requirement/
via 1 of several methods obtain 1 dollar pps a for 10 consecutive days and the issue is closed - there is also another 180 day extension if other requirements are met
some improperly quote INITIAL listing requirements -which are almost always,if not always, higher than retention requirements
i've given examples of co's still on big board w pps of .06 and ca .25-
the latter is another tx based oil co- their pps on the nyse has been below 1 dollar for 5 years https://www.otcmarkets.com/stock/HUSA/overview-as cowboyee keeps saying,"the facts"
very interesting
i dont know why anybody would presume this is the end
zn, like a typical wildcatter, has had many dry wells
bc 100's of millions of a certain group worldwide believe in blessing israel,zn has an unusually large potential donor base
we saw zn's ability to raise money under difficult conditions at a bad time of the year for fundraising when zn raised 5.3 million in august/september
its better to try and fail and keep trying than to never have tried
edison failed probably a hundred times in his efforts to create a light bulb(and succeeded only bc he lied to investors saying he had succeeded before he did to raise money-certainly not advocating that -just pointing out history)
many inventors and resource co's had similar experiences
not sure i understand all the posts about low chloride water-will have to read again- but i understand your post re the water and/or water monitoring,which zn may be able to monetize for some income
it would take israel millions to drill the well also-so renting the well from zn(after the well is plugged below the good water level depth)makes sense
the well is possibly well suited geographically to support israeli interests since its only ca 3 miles from the jordan river and ca 3 miles from the west bank-so a good geopolitical location
i dont know yet if the posts re water which i read yesterday had any influence on this but this morning when i woke up the thought,"a baptism of water",in connection w zn, went through my mind
many here are familiar with the baptism of water, which preceeds the baptism with oil
so that could be prophetic-when i get more time...
the levant basin which includes much of israel,has been prognosticated to hold much oil and gas,with such surrounding israel on several sides
just bc not much exploration has been done in onshore israel by big oil co's currying favor from the arab states has more to do w the geopolitical situation than with science,to their longtime loss
does anybody remember whether zn has had enough water in wells before to be used for the water content or for water monitoring- i dont remember any but i wouldnt know prior to 2009
both egypt and israel have had past plans for canals from the Mediterranean to bring water to the desert-in egypt the Qattara depression and in israel to the dead sea
wars are already being fought over water and such will increase,just as japan preemptively attacked the usa in an attempt to secure resources, for japan itself was resource deficient
good to see israel increasingly using desalination plants to help with the kinneret lake
https://thebowserreport.com/financial-news/th...quirement/
delisting is a scare tactic often brought up -the ultimate implication is that zn will not be able to trade
in practice companies i've seen that fall below min bid often get much longer than the limits stated in the exchanges rules -often amounting to a yr or more-i've given concrete examples before-e.g an oil co on the nyse below 1 dollar for 5 years -been ca 22c to 25c for most of the last months
but zn has several very well known ways to avoid delisting -e.g., a reverse split- e.g., even a 2 for 1 share r/s which raises pps above 1 dollar for 10 days resets the clock -giving zn ca 7 more months to comply
share buyback -very common- co's buy back shares especially when shares do not reflect what they consider the true value of the company- pps is far below what it ever was before- and there have been many dry holes -and zn is much more ready now than years ago -in a fundraise in this situation zn would likely have to list such as one of the purposes
also zn could trade on the otcqx- which has similar qualitative info requirements but costs far less than the nasdaqs 150k/yr listing cost and less red tape, so many foreign blue chips plus up and coming blue chips trade on the otcqx which has a min bid price of 25c-used to be 10c
otcqx began ca 2009= the 1st time i noticed it it had only 25 listees but now has over 400
https://listingcenter.nasdaq.com/Material_Search.aspx?cid=14&mcd=LQ
notice the 2nd 180day allowed time frame under certain conditions
if the judge in the n district of texas (though he is a clinton appointee)or the judges in the delaware cases,dismisses the shareholder lawsuits(s)against zion and calls them frivolous,then you're halfway there-lawyers should know the case in tx-the only complaint i've read-is frivolous
but pro zn shareholders still have to prove bias as the intent of the cases against zn,as your tree specifies(a bias the legal system shares,except in perhaps in isolated areas of the bible belt)
in the journalistic article re yolande,yolande says she brought the sec complaint bc she felt zn was an affinity scam (though yolande is not a plaintiff in any of the shareholder suits to my knowledge)
the sec is very thorough -they pride themselves on that-combing through every wastebasket-so when,in the july 11 filing notifying us of the sec investigation,zn said this will take considerable effort and expense to confront,that is a separate situation from the shareholder lawsuits(not that u imply in any way that the 2 are similar-but just so ppl keep those 2 situations separate)
but based on the non-existant legal rationale (non-existant imo based on the current law of notice-the only law that matters to a trial court,which is essentially not allowed to make precedents-not the purpose of trial courts)
of the tx shareholder lawsuit,the judge could very well dismiss,if he can get past his own bias as a clinton appointee
if the judge says, e.g., the n dist of tx shareholder suit against zn is frivolous,that is a powerful argument for a malicious prosecution suit,as the lawyers can be held accountable as officers of the court -and should have known the suit was frivolous(unless new arguments and facts arise subsequent to the complaint)
the shareholder suits/noise have arguably done far more damage to the pps than the notice of sec investigation,something that can be used in a malicious prosecution suit,for why would shareholders bring a suit which hurts shareholders worse than the situation described in the original shareholder suit
microcaps1 Sunday, 10/28/18 03:30:17 AM
Re: InFocus post# 29559 0
Post # of 29910
u make some good points
plaintiffs have to change the court rules and statutes re notice to be successful- and that cannot be done retroactively bc zn like everybody else has relied on the current law re notice!!!!
cant hold zn to a futuristic standard which does not yet exist!!
and these chasers entire case relies on a tweet or incomplete screenshot of an sec reply to a foia request which does not say zn is under investigation-and even if it did that still would not be the required legal notice!!!-
the complaint keeps shamelessly imputing notice to zn before zn had legal notice
the incomplete screenshot shows the foia request denied due to possible enforcement proceedings, which could mean a lot of things,including
boilerplate
a wide net for wide range of purposes
including possible enforcement proceedings re one of zn's suppliers-e.g, the parent co of the sub that leased the drilling rig to zn has been going thru some kind of bankruptcy proceedings
or re an individual of a supplier or connected to zn
nobody is a mind reader and yet thats essentially what the complaint expects zn to have been
co's cant be expected to list every possible action against them
the mar 12 10k and the may 8 10q included typical boilerplate language for the situation
i dont remember whether either the screenshot or the tweet preceded the mar 12 10k-
the whole case -the so called misleading statements plaintiffs claim zn made that zn was not being investigated by the sec- hinges on the argument zn should have known they were being investigated-but they could not have known until the sec followed traditional legal notice protocol-which did not occur til june 21 i believe-the summer solstice
so either the judge would have to take a very activist role to make a monumental change in the court rules and codified legislative law re notice- something that only the scotus could do-and not on a backdated basis
or the judge would have to dismiss,unless new facts arise
at some point in the discovery process,i would expect zn to make a summary judgement motion to dismiss as a frivolous lawsuit,based on what i've seen so far
trial court judges dont make the kinds of radical departure from current law precedents plaintiffs desire,which is why plaintiffs are asking for a jury trial-to play on emotions-bring out a grandmother in a wheelchair e.g., but emotions cannot violate the current system wide law of legal notice
as i posted recently;from the june 19 PR:
“Management’s job is to provide long-term shareholder growth. Ultimately, that’s by finding and producing commercial amounts of oil and/or natural gas. Releasing partial or incomplete testing result information only drives short term speculation which is harmful to our long-term shareholders.
“Therefore, we will not be releasing any information, other than operational updates, until we have concluded the initial testing and analyzed the results of the primary targets at a minimum.
https://www.zionoil.com/updates/zion-press-release-zion-oil-gas-june-19-operational-update-on-megiddo-jezreel-1-well-in-israel/
as i posted recently -given the additional apparent debacle to many re the aug 16 pr-which zn was pushed into-i think zn is returning to its original rationale for reporting results
there is real fear out there in zombie land and always will be despite the facade the world puts on.
"General Electric’s implosion – and the fixation on it by the financial media – is very 2008-like. A former blue-chip company sheds $200 billion in market value, cuts its dividend to a penny. Institutions are selling desperately. The CEO says there’s nothing to worry about. But GE stock keeps marching lower: $15 to $12 to $8. And analysts say it could lose another 50%! If GE stock can plummet into a black hole, what stock in your portfolio is immune?"
thats the secular worlds vision-which runs on fear -and knows nothing about His program and economic prophecies,let alone the transitional battle finally being played out-starting to come into the open- since 2016.
I've subscribed to a hundred stock newsletters over the years -and such newsletters imo know nothing- they charge ppl big money for knowing nothing- their prize recommendations crashing on the day their newsletter come out.
Everyday i've been in the market -1st to help my best friend and then others-at least one secular stock newsletter is beating the financial armageddon drum every single day-its part of their fear roots.
the thing is = ZN's stock is already priced as if the well were scientifically a black hole-already priced for failure.
That limits the downside since zn is illogically already near a 5yr low-w the illogic partly coming from all the noise.
so the risk reward ratio is very positive. If big boys do their research they can see that zn has an unusual ability to raise money dry hole after dry hole-further limiting the downside -big boys dont care the reason. They dont buy into the reason, but money is all big boys care about and to them the pps of this penny stock is just that-pennies,with the chance for a huge upside.
Brokers dont know anything but big boys have the ability to buy minds and investigators through which they defacto operate via inside knowledge- thats how they make their money -inside knowledge-most of the market is run on inside knowledge-from shorters front knowledge of sec investigations etc to promoters manipulations- not knowledge from zn insiders but from outsiders investigating and manipulating.
Big boys even install their supercomputers near where transatlantic cables come onshore so they can gain a millisecond of advantage over others. Its all part of the saturated fraud-the reverse robinhood scheme- to steal from retail-the engine that keeps the market moving.
So much insider investigation has been done re blue chips that its very hard for retail to compete w the big boys for blue chips and the pps % change in blue chips is usually very small- 1 of the main reasons why ppl get into pennies.
With a wildcatter like zn,not only is there an unusually positive risk reward ratio,but a more direct opportunity to steal from- oh excuse me -profit from-retail.
retail -us human longs-have already lost considerably on pps due to all the noise -the games the adversary always manages to pull-at least seemingly in every stock i've been in- since the fly lord has owned the levers of the economy by default.
Which is why, after reading kyoils articles on the very high chances of oil in situations like this, i thought, is it really really possible for retail longs to win ONE since the swamp era began?!?!. That would be unique in my experience. Which is why i asked Him if they had a commercial field.
and if the big boys have bought minds instead of just idiots they know the noise is just noise-and these near 5 yr lows are a prime opportunity to sneak in at the last moment of a 25 plus yr vision-18 yr wildcatter-to steal some cheap shares.
its a much better risk reward ratio than established blue chips, where big boys, despite some retail, are stealing from each other,trying to outwit each other-a real zombie battle of dead men trying to walk without the necessary freely offered but rejected tools.
oil is rising as rapture specialist said, perhaps to 70 again
https://www.cnbc.com/2018/11/14/oil-pricesope...eting.html
i remember the 1st time oil got significantly above 70 -maybe close to 100- the saudi oil minster said oil should never be above 70-that was before a certain administration fouled relations w the saudis
thanks -in researching the 6-9 weeks i skipped the unit program not remembering nor thinking such a subject-the unit program- would deal w the testing time frame.
from aug 16 pr https://www.otcmarkets.com/filing/html?id=12923779&guid=JbqMUqj6uJyUYbh
"What are the Future Plans?
1.We have gained a tremendous amount of geological knowledge, but there are still a lot of unresolved questions that need further evaluation:
a. Have we swabbed enough completion fluid and formation fluid from zones 16,415-16,500 ft and 16,080 – 16,215 ft to effectively allow for the formation to naturally flow, and will the encouragement of that natural flow, if established, allow for commercial amounts of oil to flow?
b. Drilling analysis and petrophysical analysis suggest that there may be more potential oil-bearing zones above the Triassic boundary, which was internally picked at approximately 15,175 ft. Zion chose to focus on the Triassic because of the regional success in Givot Olam’s Meged Field. Subject to raising adequate financial resources, of which no assurance can be provided, we plan to continue with testing of the multiple zones of interest higher in the well.
c. We know that the primary zones located within the Triassic-aged formations have proven to have low permeability and few natural fractures. If the questions above continue to provide answers that suggest producible oil, advanced stimulation techniques could be used to help create an environment of higher permeability and a fracture regime more conducive to commercial flow rates. "
so we are left hanging as to whether they are testing the 2 deep zones w greater stimulation
sept 7 pr -emphasis added
https://www.otcmarkets.com/filing/html?id=12955430&guid=JbqMUqj6uJyUYbh#F8K090718EX99-2_ZIONOIL_HTM
Zion Oil & Gas Announces Dustin Guinn as Chief Executive Officer
Zion Oil & Gas operational update and plans to test up to five additional zones of interest.
DALLAS and CAESAREA, Israel – September 7, 2018 – Zion Oil & Gas, Inc. (NASDAQ: ZN) is pleased to announce the appointment of Dustin Guinn as Chief Executive Officer of Zion Oil & Gas, effective September 1, 2018.
“I am very excited about the continued opportunity to help Zion fulfill its vision of helping Israel become energy independent,” expressed Dustin Guinn. “I have been intimately involved in the Megiddo Jezreel #1 (MJ #1) Project as President and COO, and my optimism remains high. I am fully aware of the investment, both financially and emotionally, that our shareholders have made in Zion’s current MJ #1 Project, and I do not take that lightly. I also understand the challenges that we face to fulfill the vision and am accepting the position as CEO, in part, as a response to those challenges. I view these challenges as an opportunity to overcome and succeed. I believe in Zion, the MJ #1 Project and look forward to our best days ahead.”
John Brown, Zion’s Founder and Chairman of the Board, states, “Dustin’s background as a former CEO of an international oil and gas service company in which he oversaw the growth of a regionally focused company to one that had over 1,500 employees with peak annualized revenues in excess of $400 million with an asset base of over $600 million help give Zion the operational and organizational experience we need at this time. His alignment with Zion’s vision, and his leadership over the last two years, have proven to me that he is uniquely gifted to help lead Zion.”
Zion’s petrophysical analysis, in conjunction with observations while drilling the MJ #1 well, has identified five additional primary zones of interest above the Mohilla formation that, contingent upon adequate financial resources, Zion plans to test. As has been previously reported, there are naturally fractured carbonates in the shallower zones that have effective reservoir potential. That, coupled with internal and 3 rd party petrophysical analysis of Zion’s open hole logs, gives Zion optimism and confidence to proceed with further testing, and Zion believes that it is imperative to test these zones of interest.
Zion remains committed to observing local customs such as Shabbat and holidays, and, as a result of 2018’s holiday schedule, it is impractical, inefficient, and cost prohibitive to try to operate through the holiday season in September. Zion’s service providers have all generously agreed to steeply discount their standby rates to accommodate Rosh Hashanah (Feast of Trumpets), Yom Kippur (Day of Atonement), and Sukkot (Feast of the Tabernacles) holidays.
“We are grateful to our service providers for their willingness to partner with us in this effort,” expressed Dustin Guinn. “We believe this shows good stewardship, both financially and culturally.” Zion plans to resume operations on October 14 th , 2018 and recommence testing of the identified zones of interest.
so there are 5-7 zones to test starting oct 14.
from what i've seen, flow testing takes at least 1 week/zone-werent they doing other testing prior to flow testing?
i searched filings for any mention of how long testing will be
p25 of 10q doesnt say but says:
On October 23, 2018 Zion submitted its Application for Extension of Continued Work Program Due Date on the Megiddo-Jezreel License No. 401 . The additional time was necessary because the Company had still not completed testing and evaluating all planned testing zones. On October 28, 2018, Israel’s Petroleum Commissioner granted Zion’s work program report extension to January 31, 2019.[as noted by tothe in the ibox]
Although the Company’s MJ #1 well has reached its total depth and is currently undergoing formation testing, as of the date of this report
[note-the date of the report is sept 30 -3rd qtr ended sept 30 -if they had said date of this writing,that would have been presumably the date the report was signed- nov 8]
on Form 10-Q, the Company is not able to confirm whether the well will be commercially productive or producible and will not be able to do so until after fully testing and evaluating the well. [so this told me they were not reporting or alluding to testing results after sept 30 but merely repeating the language of the aug 16 pr]
Depending on the final outcome and results of the currently active MJ #1 well and having adequate cash resources, multiple wells could be drilled from this pad site as several subsurface geologic targets are reachable using directional well trajectories.
We continue our exploration focus on our Megiddo-Jezreel License area as that area appears to possess the key geologic ingredients of an active petroleum system."
i've read in posts that testing would be 6-9 weeks -where did that come from?-didnt see that in filings
i've watched every company i've looked at take longer than they expected- and that should be expected w this wildcat testing-so all we know-unless i missed something-is zn must expect completion of testing before jan 31 so zn probably expects testing to finish at least a week prior to jan 31 to provide time to finish writing the report.
just make it up as u go along as u always have
i agree- it make sense to buy when they are closer than ever to a commercial find and yet still near a 5 yr low going back to 2013
yes- i'm aware the subsequent period is after sept 30 and ends on the date of the report nov 8,and that only zn's 10k-as opposed to 10q-is audited-which is what i've seen in probably everyone of the literally thousands of different stocks financial statements i've looked at-just so onlookers know that is the norm
acct is one of my many degrees summa cum laude but have never done it for a living -but all the resources i've seen relate a subsequent event to something that will impact/change the financial statements
-always something of a financial nature,whether type 1 or 2
i continue to see that in all of the sources i've just looked up including the following-they all talk about financial events-events which alter the financial statements
testing results,especially intermediate, are not financial events and dont alter financial statements nor directly affect sep 30 financials nor financials subsequent to sept 30
and yes almost all the sources talk about auditing-but that should not change the definition of what is a subsequent event
https://pcaobus.org/Standards/Auditing/Pages/AS2801.aspx
https://strategiccfo.com/subsequent-events/
so i would appreciate it if u have some authoritative source that includes events which are not per se financial events or of a financial nature and/or dont immediately impact the past or current financial statements
if subsequent events are not limited to that which affects the past dated financials that would impact my reading of co's financial statements
i like to learn
thank you in advance
never said a direct family member had to be indigenous-said in times past mexico required mex corp's within 70-100 miles or kilometers of the usa border to be headed by a mex national- and i dont see the relevance to the trust
what is the relevance of all these non stop ridiculous attacks?
which may be why navials concessions are in brads native wifes name and sharon was a mex national also- not an accident
israel didnt even approve zn's testing protocol til late april-not all delays are caused by the company or its suppliers
delays are the name of the game in the real world -in looking at thousands of stocks i cant even recall one which didnt have any delays
all co 's i can remember have issued optimistic timetables which could not be kept
i thought the following would be brought up
'Zion encountered movable oil and gas in the well’s drilling mud during drilling. However, as of the date of this report on Form 10-Q, we are not able to confirm whether the well will be commercially productive or producible and we will not be able to do so until after we complete testing and evaluating the MJ#1 well.
Quarterly Report (10-q), Page 25, November 8, 2018
https://ih.advfn.com/p.php?pid=nmona&article=78651027
https://www.sec.gov/Archives/edgar/data/1131312/000121390018015173/f10q0918_zionoilandgas.htm';
'as of the date of this report'- this is possibly the most confusing language in the report but see below:
the 3rd qtr ended sept 30- thus the date of the 10q report is as of sept 30
just as the date of the financials is sept 30
thats why there is a subsequent events section-where one is only required to report events after sept 30 that will materially affect the static sept 30 financial statements, as i've already explained in a recent post
and i saw no statement in the 10q subsequent to sept 30 re testing
the following one line statement is the only thing in the subsequent event section: " Note 9 - Subsequent Events
(i) Approximately $326,000 was raised through the Company’s DSPP program from October 1 through 30, 2018."
there is nothing re testing in the subsequent event section and nothing is required to be said re testing after sept 30 in the sept 30 report bc such does not materially affect the sept 30 financial statements
so the date of the report is sept 30 -the date of writing wold be an exception to the general rule-see below -the presumption is the date of the report as of sept 30]-
they've already said in the june 19 pr they arent going to provide results til testing of primary zones was finished at a minimum- a protocol i believe they are returning to after the intermediate report of aug 16-17 caused as much confusion as answers,especially to those who didnt read it carefully- something i've also posted previously and recently
and the aug 16 pr said,e.g., " Did We Find Oil?
1.We encountered oil at a depth of between 16,415 ft and 16,500 ft during drilling operations, when we circulated bottoms up. The oil was separated and tested internally and externally through our mudlogging company’s chromatograph, indicating “Light Oil” based on the chemical composition of the analyzed stream."as already reported by axle? and others
also, not being able to verify the well as of sept 30-they did no testing in september bc of the unusual complex of 9-11 holidays in a 22 day time frame- is commercially producible is not the same as zn saying they have found no oil;
in addition to the feb 13 pr, they noted in the aug 17 filing re the aug 16 pr that some amount of oil was found in the completion fluid resulting from the small acid stimulation job
from page 5 of the 10q
'Testing of the well is ongoing and the Company expects that testing will be concluded in the fourth quarter of 2018.
Depending on the final outcome and results of the current MJ #1 well and having adequate cash resources, multiple wells could be drilled from this pad site as several subsurface geologic targets are reachable using directional well trajectories.'
zn has NOT concluded that the well will not be commercial as some imply nor has zn concluded that the exploratory well will not discover a commercial field -
clearly those are still possibilities -but just as those who said there was no oil before the well was spudded had no cause to say such, there is no cause to say this well will not locate a commercial field within the active petroleum system-which could lead to multiple wells directionally drilled from the same pad, as the company continues to say
'During the nine months ended September 30, 2018, and 2017, the Company did not record a non-cash impairment charge of its unproved oil and gas properties (see Note 4).'from p.7
[such may very well be recorded if the well discovered no commercial field after testing was completed]
'Currently, the Company has no economically recoverable reserves and no amortization base. The Company’s unproved oil and gas properties consist of capitalized exploration costs of $34,083,000 and $21,695,000 as of September 30, 2018, and December 31, 2017, respectively'
its always a good thing when there is no impairment charge[which is like writing off an asset-years ago ship co's were constantly declaring impairment charges just as some gold co's are now]
from p.7
again the default assumption re statements in a 10q are that they are as of the end of the preceding qtr-in this case sept 30- unless clearly specified otherwise or noted in the subsequent events section
since neither of the above exceptions apply here the general rule that the date of the report is sept 30 applies unless proven otherwise
but as u have noted from the 10q, zn has insurance for these things which apparently covers much of the cost
umbrella insurance policies-if thats what zn has- are really very inexpensive-have one myself-anybody doing anything in this crazy litigious world should have one
any credibilty campo has is based on opti's research confirming the land use planning angle-which opti has confirmed many times
and the attorney letter confirming an attorney has been employed by campo for the purported purpose of reinstating
and the incredible detail in so many pr's -thats hard to make up and doesnt comport w the strategy used by scammers-as i said scammers usually dont post so much detail over such a period of time-doesnt make sense-so i want to find out what the story has been-not reject it out of hand
and being sec reporting in the 1st place doesnt make sense for a scammmer
land use planning is a slow process -did such 17 years myself-e.g in the usa can take a dozen years to get a mining permit such as with rvm, which had to sell out to hecla after spending millions over a dozen years trying to get a mine near troy permitted- hecla just now getting the mine permitted years after buying rvm out-so 15 years total to get that mining permit?-and rvm was a much much much bigger company than newc
ppl need to do dd on the companies mentioned in newc pr's -do such companies exist and if so do those co's mention the contracts and mou's newc's pr's did in those co's filings etc-
auditors will do such dd- and may be one reason why we cant get audited financials-but i dont know- just speculating- i dont like speculating - i like facts- and i want to find out and not reject any explanation by anybody out of hand
you have to acquire info before u can evaluate it-i've seen lynch mobs before-and i've been asked by others on other stocks to bring actions against companies-but nobody is ever willing to help out or even reimburse me for expenses-so i have experience w these games-my experience is that lynch mobs will form but when push comes to shove nobody will provide substance or money
i've seen many companies sec delinquent longer than newc without even a warning from the sec-saw sec target another good guy during the sec swamp era-good guys do get targeted for elimination and harassment-very common!!!
it is very fishy saying next week or two re the accountants for so long
i dont have enough info to make a final determination-as i said there are more one possibilty here and wish campo would explain-so we can evaluate his explanation
but as i've implied i dont think the sec necessarily played fair ball here- i've seen other co's without ANY filings for 3 years without even an sec warning
newc kept filing 8k's- i know its not same as 10q's -but still its something-and the july 2016 8k showed financials
and as i've explained in previous posts i think the sec did a very poor job of warning -without laying the foundation for the warning-which warning i still dont understand today- we are taught to lay the foundation in law school
and jerking the ticker just days before the purported financials were to be presented was to me crazy-just wait the 10 days til past the stated date purportedly given by the accountants!
after the stock ticker was closed there was no way to report anymore, to my knowledge,and campo may have been given a gag order at various times by the sec or his attorney or who knows what.
i'm saying, based on my experience, there are more possibilities than ppl have thought of,and dd should be done re those possibilities,which has not been done
perhaps u should read my post again- i guess u are saying u dont want ANY explanation or resolution-that u will reject ANY proffered resolution no matter what
i want explanations- i assume most ppl do- why else are we posting anything other than exclusively legal action against campo- and such legal action will demand explanations-its known as discovery- a very necessary part of the legal process
if u tell the judge u are going to reject any discovery or resolution he will just dismiss your case and u as a frivolous lawsuit crank w prejudice
why has campo engaged an attorney-as shown by opti- to get the stock reinstated-if campo is lying about that or just using the attorney as a ruse,he is wasting his money and just getting himself into even deeper trouble
everything campo says to possibly delay a lawsuit etc will just get him into deeper trouble if he is outright lying -he knows he may have to testify under oath re everything he has said-and perjury itself is a crime
i want to know what the problem has been w the financials and the accountants or between the accountants and campo- dont u?
are we dealing w mr murphy to the nth degree-which is a possibility until proven otherwise
or dealing w a pathological liar or just simply somebody who has lost his mind
or dealing w a preplanned con- but you see its the most unnecessarily complicated con i've ever seen if thats the case-if preplanned why even be sec reporting in the 1st place-why hold yourself to such unnecessary scrutiny and risk and many other such questions
i've never seen so many many many unnecessary to the con details in a preplanned con -doesnt make sense-i want to know answers-if u dont why even post???