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remember this is the reason -the 4 day round trip at 16000 plus feet plus 5 day packer life at depth would have them wasting expensive packers and running up and down the drill hole before they could accomplish their objectives during a period when there are 9-11 holidays within ca a 22 day period
microcaps1 Wednesday, 09/12/18 01:27:28 PM
Re: microcaps1 post# 28483 0
Post # of 28751
thanks axle for the recommend-
i write up to 100 pages /day- would be tricky with info given to me- would have to come under 1 of several sec exceptions on insider knowledge-absent that a pr would have to come out within 24 hours and thats not enough time for zn legal and other vetting of the pr,and would complicate my posting here. I've never even emailed ZION,but due to the ability to flesh out things,dd and extrapolate etc i'm sometimes accused of insider knowledge,a typical experience for a high profile dd long.
I agree they could use consultation on PR's- in the stock market there are rarely any negative things in PR's- thats usually reserved for 10q's etc
unfortunately, if you put out an honest PR,most investors reading it wont understand why its written as its written,especially considering the unique nature of zion's mission.
e.g., the aug 16 pr where they say they can't say its commercial yet-thats true but the way it was worded left an opening for those who would attack-
many only saw 'not commerical'
without seeing as of now -without realizing the 3rd level of testing- flow testing - was still in its infancy even in the 1st tested zones and only 1.5% of the well had ANY flow testing so far.
As I've looked at the last PR's several times, given the knowledge i have of zn,i feel i understand what they are saying except for a few things-but an 'outside investor',who is used to only glowing PRs,may be taken aback by the negative or perceived negative things.
I'm a quick study and as i study the pr's i dont see the logic in the pps fall except for what i've explained above.
but, e.g., they could explain the holiday situation in language secular investors would understand,such as:
we lease the drill site from a religious community/kibbutz formed in the 1930's as an escape from europe and hitlers final solution[most ppl can understand that without thinking the kibbutz is some off the rocker hippie commune/cult.]
as per our contract with the kibbutz we are required to honor sabbaths,which usually means no drilling 4.33 days/month.
In september, due to an unusual once/year confluence of high sabbaths -which by law cannot fall on a regular sabbath day,there are 9-11 sabbath days from sept 8 to oct 1 on which we cannot operate the drilling equipment.
However, during that time we will continue to be very busy w geopetro analysis,such as [and describe such]
Such analysis has to date identified five more primary zones for testing further up the well bore.
The packers we've been using only have a 5 day shelf life deep in the triassic formations below 16000 feet which we have been testing,due to the high temperatures at that depth.
Thus its not cost efficient to test as required with packers during this unique holiday season. We would spend 2 days getting the packer to 16000 ft depth only to be stopped by one or more consecutive holiday days.
During those holidays, when drill work is prohibited, the packers would be just burning rubber/their short shelf life, and thus the money invested in the packers plus variable costs such as the work crews wages would be lost.
Thus,it is not logical or efficient to do such testing during this unique period [investors need to understand this is a unique situation not repeatable more than once/year].
We will resume testing Oct 14[not Oct 19].
Once we move our testing to higher zones the reduced temps of such zones will allow for longer packer life and shorter well round trips to insert and remove the packers. Packers which cost 300k more per packer may extend the packer life[if thats the case],but would not be beneficial on a cost benefit analysis basis for the short extension in shelf life at depth.
they aren't doing nothing-there are logistical issues and analysis,including communications with suppliers etc to do while the holiday season blocks drilling/testing
https://www.sec.gov/fast-answers/answersform8khtm.html
a quote from that form on the sec website:
"Companies have four business days to file a Form 8-K for the events specified in the items in Sections 1-6 and 9 above.
The july 11 8k re the sec investigation was item.8.01 other event
https://www.otcmarkets.com/filing/html?id=12856777&guid=1o_ZUFxzfuh5Qyh
the conclusion of the syllogism is that bc the july 8k was an 8.01 item,it was NOT required to be filed within 4 days
defendants are system wide allotted 20 days to respond to notices of suits which i assume would include an sec investigation, even though it has not risen to the level of a lawsuit
to require zn to file an 8k within 4 days of notice would impinge on the system wide basic right of 20 days to respond and thus would be illogical
you and your group are sec specialists,so perhaps u do not realize how extremely specialized sec subject matter items are in the law-a specialty of a specialty.
you already know that any company which receives such notice from the sec has to find an sec approved attorney,and outside of washington dc and new york and a few other areas such sec approved attorneys are far and few between.
except for ambulance chasers it could be hard to find and obtain a meet and greet w such an sec approved attorney within 4 days outside of those few areas.
I agree tisdale - the shareholder suits re zn notice of sec investigation are frivolous
the adversary knows many will think wheres theres smoke ther is fire-so the usual battlefield practice is one artilery barrage of multi-level lies after another,knowing that many will not catch every lie.
a tweet by a shorter and/or an incomplete screenshot -with part of the page not revealed- of denial of foia request on grounds such may interfere w enforcement proceedings (re who?-or re rule making? not enough info nor a proper channel) does not rise to the level of legal notice that zn is being investigated- tweets and incompleted screenshots of foia requests are not duly authorized legal notices to zn of any investigation of zn- re denial of pandas foia request
zn legally has 20 days to respond to any legal action and zn responded within 20 days both to sec re docs and to the world /investors with the july 11 8k
this 20 day period to respond is set in stone across the entire legal system for many decades and cannot be changed in this case nor any unlawful change retroactively applied.
so i dont see a legitimate case re shareholder suit- there is no legal theory to hold zn liable for sec investigation -shareholders are not guaranteed bad surprises will not happen-thats why filings detail risks in page after page
zn followed proper protocol in its sec filings -as determined by zn's in-house counsel plus former judge and lawyer ceo victor plus zn's compliance officer plus b/d's
july 11 8k satisfying zn's legal requirement to notify investors within 20 days
Item 8.01 Other Events
1st thing' i'd do after gathering the evidence,which might require depositions, is move for summary judgment re that issue,which is the issue the shareholder suits have relied upon(until new suit revealed today re exec compensation)
microcaps1 Friday, 08/17/18 11:27:28 AM
Re: NewBeginnings18 post# 26792 0
Post # of 28702
there is no situation that i can see where zn's operations could be interfered with-sec event is a civil investigation apparently concerned w proper reporting in zn's statements to investors -and unless its still highly a swamp sec-which it shouldnt be though the political transtion is still occurring in the agencies, nothing would rise to the level of criminal intent-and even if it did sanctions would be only against whatever officer was found to have such-there is no criminal intent
absent a criminal conviction of zn for stock fraud nobody can interfere w zn fundraising-only oversee that its done w proper notice to investors
this is a template provided by sec for 10 q
"Instruction. A legal proceeding need only be reported in the 10-Q filed for the quarter in which it first became a reportable event and in subsequent quarters in which there have been material developments"
as i explained in previous posts, an action or event does not occur until zn receives notice from sec or some other duly authorized authority -which occurred june21 -as noted by zn's july 11 8k
zn used typical boilerplate used by thousands of companies in addressing legal risks in their 10q's for last 2 quarters and 10k filed mar 12
The last 10q filed aug 8 repeats the risk factor re the legal proceedings at least 3 times -fulfilling zn's legal duty to notify shareholders of all possible risks
a tweet by a shorter and/or an incomplete screenshot -with part of the page not revealed- of denial of foia request on grounds such may interfere w enforcement proceedings (re who?-or re rule making? not enough info nor a proper channel) does not rise to the level of legal notice that zn is being investigated- tweets and incompleted screenshots of foia requests are not duly authorized legal notices to zn of any investigation of zn- re denial of pandas foia request
firms which do this kind of ambulance chasing are the worst of the worst,trying to create liability where it doesnt exist
zn legally has 20 days to respond to any legal action and zn responded within 20 days both to sec re docs and to the world /investors with the july 11 8k
this 20 day period to respond is set in stone across the entire legal system for many decades and cannot be changed in this case nor any unlawful change retroactively applied.
so i dont see a legitimate case re shareholder suit- there is no legal theory to hold zn liable for sec investigation -shareholders are not guaranteed bad surprises will not happen-thats why filings detail risks in page after page
1st thing' i'd do after gathering the evidence,which might require depositions, is move for summary judgment
https://dictionary.law.com/Default.aspx?selected=2063
if the judge decides no reasonable person could decide against zn,the judge can dismiss the case
the case is properly brought in the federal court (bc of interstate commerce and bc plaintiffs desire more swampy fed ct rather than conservative texas state court) of the N district of Texas,where zn's principal offices reside
attemps to bring the case elsewhere are just show boating and lawyers know the cases would be consolidated into one case,almost certainly in texas
zn followed proper protocol in its sec filings -as determined by zn's in-house counsel plus former judge and lawyer ceo victor plus zn's compliance officer plus b/d's
july 11 8k satisfying zn's legal requirement to notify investors within 20 days
Item 8.01 Other Events
On Thursday, June 21, 2018, Zion Oil & Gas, Inc. (“Zion” or “Company”) received a subpoena to produce documents from the Fort Worth office of the Securities and Exchange Commission ("SEC"), informing Zion of the existence of a non-public, fact-finding inquiry into the Company. Zion, an SEC-reporting company with audited financial statements in the US and Israel for over a decade, will fully cooperate with this investigation. Until receipt of the subpoena on June 21, 2018, Zion had no previous communication with the SEC on this issue and was unaware of this investigation. The SEC stated that "the investigation and the subpoena do not mean that we have concluded that [Zion] or anyone else has violated the law."
While we acknowledge that our response to the subpoena will necessarily entail significant costs and management's attention, it should have no effect on Zion's ongoing testing procedures on its Megiddo-Jezreel #1 well. The Company does not intend to comment further on this matter unless in the Company’s judgment, it merits further comment or public disclosure.
p,34 of 1st quarter 10q-at which time there was no legal notice of any proceeding
ITEM 1. LEGAL PROCEEDINGS
From time to time, we may be subject to routine litigation, claims, or disputes in the ordinary course of business. We defend our company vigorously in all such matters. However, we cannot predict with certainty the outcome or effect of any of the litigation or investigatory matters or any other pending litigation or claims. There can be no assurance as to the ultimate outcome of these lawsuits and investigations.
ITEM 1A. RISK FACTORS
During the quarter ended March 31, 2018, there were no material changes to the risk factors previously reported in our Annual Report on Form 10-K for the year ended December 31, 2017.
2nd qtr 10q filed 8-8 notes the sec investigations at least 3 times-here are 2 of such notices to investors as follows:
ITEM 1. LEGAL PROCEEDINGS
From time to time, we may be subject to routine litigation, claims, or disputes in the ordinary course of business. We defend our company vigorously in all such matters. However, we cannot predict with certainty the outcome or effect of any of the litigation or investigatory matters or any other pending litigation or claims. There can be no assurance as to the ultimate outcome of these lawsuits and investigations.
U.S. Securities and Exchange Commission Subpoena
On June 21, 2018, we received a subpoena to produce documents from the Fort Worth office of the Securities and Exchange Commission (“SEC”), informing the Company of the existence of a non-public, fact-finding inquiry into the Company. Until receipt of the subpoena on June 21, 2018, Zion had no previous communication with the SEC on this issue and was unaware of this investigation. The SEC stated that “the investigation and the subpoena do not mean that we have concluded that [Zion] or anyone else has violated the law.”
We are cooperating with the SEC in this investigation. We are unable to predict when this matter will be resolved or what further action, if any, SEC may take in connection with it.
ITEM 1A. RISK FACTORS
During the quarter ended June 30, 2018, Zion added one additional risk factor when compared to the risk factors previously reported in our Annual Report on Form 10-K for the year ended December 31, 2017. The new risk factor pertains to the SEC subpoena to produce documents on June 21, 2018.
On June 21, 2018, the Fort Worth Regional Office of the SEC informed Zion that it is conducting an investigation and requested that we voluntarily provide certain information and documents in connection with its investigation. We are cooperating fully with the SEC in connection with its investigation. Investigations of this nature are inherently uncertain and their results cannot be predicted with certainty. Regardless of the outcome, the SEC investigation can have an adverse impact on us because of legal costs, diversion of management resources, and other factors. Determining reserves for this investigation is a fact-intensive process that requires significant judgment. The investigation could also result in reputational harm to Zion and may have a material adverse effect on Zion’s current and future business and exploratory activities and its ability to raise capital to continue our oil and gas exploratory activities.
https://www.sec.gov/files/form10-q.pdf
i agree -its risen 12% today=and on a friday -fridays usually are not good to longs.
At some point -since the word does not return void-those who agree with zn's cause will have to be rewarded.
John Brown has waited over 2 decades and has invested a lot of his salary in the cause, as no doubt have other officers.
peace= from the golan- of all places!
I dont know if theres a connection but it was somewhat surprising that Dustin-in his zn bio-has experience in mergers and acquisitions
a white knight would be nice but do they still exist?
its often hard to obtain outside financing that doesnt bite in the end and forfeit control
BUT this would seem like an ideal situation for some of those guys-who already have ties to israel oil and gas,to buy shares in zn!!! either directly, thus funding ops -or on the market - thus supporting pps
and what about the service providers -they could buy shares also
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, Sept. 7, 2018 /PRNewswire/ -- 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 3rd 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 14th, 2018 and recommence testing of the identified zones of interest.
As I've posted at least 2 times before there is no danger of de-listing.
I've seen many stocks below the min pps necessary to JOIN a big board get away with pps far below such pps for YEARS.
And when a big board finally says something such big board usually gives them ca 5 months to raise pps to the minimum.
e.g another oil and gas stock husa has been below $1 pps for FIVE years-is now at .22
recently saw another big board stock at 6c!!! - hadnt been above 1 dollar since jan and the exchange gave them to Feb 28 to rectify that.
i would like to use a funny colloquialism like 'accidents happen' but then i would have to immediately bind accidents from happening as i do,except for fortuitous ones.
Some big holders have been dumping large positions with market orders which not only hurts their positions but also pps by running like a freight train thru the bids-fulfilling the fraudulent market "dump or be dumped" insanity,where stock positions are played like slot machines.
Normally in situations like this,a company would be supporting the pps by buying back at a set level,but ZN's been raising money-a conundrum fully taken advantage of by the cruel market.
if the hedge etc funds would employ ppl w wisdom-there are none-or at least intelligence/knowledge,they would not be selling at these prices.
One of the problems w trading in the market is not only predicting the future and the effect of the usual frauds but also getting into the mindset of the average trader who cannot fully evaluate news-and i dont want to go back to the womb and be born to a monkey this time
the 1st roll of the dice in testing only 1.5% of the well w ANY flow testing,with what appeared to be a success w the initial small acid fracking,does not decide the game!!!
I agree- wisdom is an extremely rare commodity-cant emphasize how extreme-I've not seen it even in the Body,and its difficult to fashion PR's which will be read by many different cultural groups of different mindsets,but one has to be very careful w PR wording of perceived negatives in the secular stock community.
I agree with you,though we both understand zn is confronting a level of battle they have never confronted before. I myself have been waiting for a specific anointing-the anointing breaks the yoke- to defeat the attacks but such has not come yet-His timing/testing is often mysterious to our primitive tents.
I'm sure Dustin was frustrated dealing w many logistical etc problems fomented by mr murphy and pulled in so many directions
mountains of the golan which most likely would be the tallest in israel
i agree w a lot of things you say tisdal and infocus
since i dont have any insider knowledge i can only speculate
Victors departure info is no doubt true,but may also be other reasons for the timing,such as (very unlikely)if victor didnt follow compliance committee protocol for gifting shares (very unlikely)
Victor didnt pen recent PR's for logical reasons- such pr's were about operations and dustin is coo and pres[and now ceo].
but also could be partly bc victor was named individually in the non public sec investigation.
his departure mitigates whistleblower accusations of a top heavy management structure.
it may be that none of those things had anything to do with anything,but even so could be side benefits of the present timing as far as the sec is concerned,which may possibly have pushed up the timetable of his departure,and even possibly could be part of a settlement[is no formal action yet and might never be] or elements of concern communicated by the sec to zn.
i dont like to do such speculating and only do so as a possible defense reasoning for the timing,which otherwise may appear to be a mistimed event,given everything u guys have mentioned.
thanks axle for the recommend-
i write up to 100 pages /day- would be tricky with info given to me- would have to come under 1 of several sec exceptions on insider knowledge-absent that a pr would have to come out within 24 hours and thats not enough time for zn legal and other vetting of the pr,and would complicate my posting here. I've never even emailed ZION,but due to the ability to flesh out things,dd and extrapolate etc i'm sometimes accused of insider knowledge,a typical experience for a high profile dd long.
I agree they could use consultation on PR's- in the stock market there are rarely any negative things in PR's- thats usually reserved for 10q's etc
unfortunately, if you put out an honest PR,most investors reading it wont understand why its written as its written,especially considering the unique nature of zion's mission.
e.g., the aug 16 pr where they say they can't say its commercial yet-thats true but the way it was worded left an opening for those who would attack-
many only saw 'not commerical'
without seeing as of now -without realizing the 3rd level of testing- flow testing - was still in its infancy even in the 1st tested zones and only 1.5% of the well had ANY flow testing so far.
As I've looked at the last PR's several times, given the knowledge i have of zn,i feel i understand what they are saying except for a few things-but an 'outside investor',who is used to only glowing PRs,may be taken aback by the negative or perceived negative things.
I'm a quick study and as i study the pr's i dont see the logic in the pps fall except for what i've explained above.
but, e.g., they could explain the holiday situation in language secular investors would understand,such as:
we lease the drill site from a religious community/kibbutz formed in the 1930's as an escape from europe and hitlers final solution[most ppl can understand that without thinking the kibbutz is some off the rocker hippie commune/cult.]
as per our contract with the kibbutz we are required to honor sabbaths,which usually means no drilling 4.33 days/month.
In september, due to an unusual once/year confluence of high sabbaths -which by law cannot fall on a regular sabbath day,there are 9-11 sabbath days from sept 8 to oct 1 on which we cannot operate the drilling equipment.
However, during that time we will continue to be very busy w geopetro analysis,such as [and describe such]
Such analysis has to date identified five more primary zones for testing further up the well bore.
The packers we've been using only have a 5 day shelf life deep in the triassic formations below 16000 feet which we have been testing,due to the high temperatures at that depth.
Thus its not cost efficient to test as required with packers during this unique holiday season. We would spend 2 days getting the packer to 16000 ft depth only to be stopped by one or more consecutive holiday days.
During those holidays, when drill work is prohibited, the packers would be just burning rubber/their short shelf life, and thus the money invested in the packers plus variable costs such as the work crews wages would be lost.
Thus,it is not logical or efficient to do such testing during this unique period [investors need to understand this is a unique situation not repeatable more than once/year].
We will resume testing Oct 14[not Oct 19].
Once we move our testing to higher zones the reduced temps of such zones will allow for longer packer life and shorter well round trips to insert and remove the packers. Packers which cost 300k more per packer may extend the packer life[if thats the case],but would not be beneficial on a cost benefit analysis basis for the short extension in shelf life at depth.
well, actually you could add one more thing-the dssp program, which directly benefits zn, indirectly hurts pps bc that retail buying is not affecting the buy sell ratio
and one slight correction- they said they could not say it was commercial YET- (especially when they are being watched for any mistake)
but when jryan returns from his unexpected vacation here maybe that will help turn things around
later the sec issued an order blocking short selling in hundreds of financial stocks-i've posted that order on this board probably a couples months ago
thats a common term-when i got my accounting degree the term in vogue was 'retained earnings' and a deficit would just be shown in parentheses as a negative number
many mining co's, biotechs and exploration companies have huge deficits before revenue begins- up to 500 million or more
one otcqb co had 50 million deficit and only 5k assets-how is that possible?
to tell how much income was in the last reporting period without an income statement just compare retained earnings or accumulated deficit (whichever term they use) on 1st and last period in the balance sheet
Straight up
so shows dishonesty -pretending to be a savior while shorters make money
re the nasdaq minimum of one dollar which is being rehashed and which i already answered at least once before -in the last few days i saw 2 big board co's below min pps- one at 6c pps!! and another at .22
one co had been below 1 dollar pps since jan and the exchange gave them util next feb 28 to get above 1 dollar,which as a last resort is easily handled via a r/s,so gave them a total of 13 months to solve the problem
this seems to be a common situation where companies are given ca 1 year or longer, as in the above example to get pps above 1 dollar
zn pps has not been been below one dollar this year -so this issue is a nonstarter
some obvious errors -e.g not 168 m of debt- 168 m spent to that date.
re the going concern language which is being rehashed -that is boilerplate language that applies to almost all companies who dont have revenue yet-such companies are required to use that language
but journalism is almost equated w sensationalism so yolande is hurting longs by proceeding thru the media
if longs were her interest she would post w facts to warn,instead of receiving a financial whistleblower award or enriching sloppy journalism
so, zn leasing land from a religious kibbutz which observes these festivals,could not work on sept 8,10,11,15,18,22,24or 25,30 or Oct 1,
w 7th day being Hoshanah Rabba, the 8th day of tabernacles being a special high sabbath holiday Shemini Atzeret and some observe a 9th day called Simchat Torah
so there are 9-11 days during this one unique ca 22 day time period where ZN could not work at the oil platform,where there work would be obvious to the kibbutz-
they can do analysis etc which will keep them busy- something that is going on in any operation without offset wells to learn from, as verified by kyoil
while they simultaneously wait for the war chest to increase.
doesnt make sense to work at the well under those temporary conditions-spend 1-2 days getting packer in the bore-take a day off for sabbath while packer money is burning,giving only 1-2 days before have to haul packer in again
i did an analysis showing they may have been prohibited working at the well for 9-11 days in a 22 day period from ca sept 8 to oct 1 during this one time period of the year heavy in high sabbaths
and the well was only a few thousand feet deep sept 2017-so didnt have the high temps of the present bottom-and wouldnt have been using packers to test zones
what do the packers cost- i posted 1 article re packers -said they cost 6k to 500k
would more expensive packers lost longer in the high well temps?
they no doubt have done a cost benefit analysis- weighing the costs of a 4-5 day roundtrip from td to change packers vs a higher cost packer
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re ZN officers
Dustin Guinn didnt come to ZN til 2016. Came in as Exec vice chairman,rumored to be groomed to eventually take john browns place. Prior to that Victor was Pres and COO.
Dustin, having been ceo and coo for a larger oil and gas co viking was progressively given Victors roles as Pres and COO-AND NOW CEO.
None of these things were done in secret.
Victor as a lawyer and former judge and statewide elected official used his skills to get zn through the regulatory red tape. Victor also was commissioner of the texas railroad commission in charge of texas as oil and gas regulatory.
so victor has has several professional streams typical of a type a public service get her done personality. Except for the tx rr commission becoming part of zn leadership was not a given but victor says was a calling for a time.
having fulfilled that timely calling,in agreement w zion now that dustin can take his place victor may run for statewide elective office again,which can also be a calling. That would be typical of ppl w his resume.
As Pres and COO we saw that Dustin was on fire as the keynote speaker at the june 5 stock holders meeting. As a type a get er done personality victor must have seen his calling to zn coming to an end.
Nothing wrong w that-there are many callings.In this company believing the word they do what they can as a service calling and then move to the next calling. I assume victor probably replaced the prior chief legal officer in that position. ppl rarely hold onto 1 position w just one co for their entire lives.
So there is plenty of logic for victor to move on now that his former positions have been filled-victor noted it had been tough and grueling wading thru the israeli regulatory field
-thus having fulfilled the purpose for which he was called to zn he can move on to something else-he has plenty of options given the multiple professional streams of his resume.
re No More Delay
i guess ppl dont read the dd- i still dont know what all the bad hoopla is about - you should wonder about those who suddenly repeatedly flip,as in flippers,their positions and then name call those whose side they were just on.
as i posted before -after researching thousands of companies,EVERY company experiences delays just as we do in our own lives - and EVERY company makes timeline promises based on the info at hand or in the case of many co's no info at all.
in my searches of thousands of co's,many co's were making ridiculous promises of next year revenues of millions when they didnt have any assets nor even a product.
zn is not in that camp -they have assets experience and a product.
its just not believable for longs to expect no delays!!! that just doesnt happen!!. In every co there are delays. Though its ok to declare by faith there will be no more delays,as promise made thousands of years ago declare.
Also those who have actually read the word recognize He operates on a different timeline than us. Thus many true prophecies in the word which were made thousands of years ago still have not been fulfilled-still true prophecies -He just has a different perspective on time- but as part of the battle we all are suppose to be fighting everyday we are supposed to come into agreement w His word and timeline even though we may have a different concept of time in these limited tents.
When He says no more delay that doesnt necessarily mean there wont be delays- you have to understand His CONTEXT and the battlefield context. the lat promise of the word was i am coming quickly -but its been 2000 years - not OUR concept of quickly-a veteran of many battles learns these things
The context of no more delay may mean any of the following:
1)this will be the well that produces from a commercial field-that is, no more wells before the vision begins to be fulfilled or
2)this is the drill pad that will produce a commercial well or
3)this is the grueling fought for concession of 3 years alone for this concession which possesses the huge commercial find they have been looking for for 18 years.
Growing up in a cult i saw the adversary capture 1 person after another and how fragile weak and rebellious humans were and how easily captured they were -thats why very few ever find,let alone stay on the narrow road.
If a logical one month plus drilling testing delay while they do more geological analysis and logistics -which will keep them very busy as kyoil says,
is enough to cause somebody to flip out i have to wonder where they have been all thier lives -living in a glass bubble??? living in a fantasy land where they were waited on hand and foot?
Wait until you experience what job did, as i have throughout my life, before u flip on a dime and castigate anybody who doesnt flip w you. the word calls that reprobate.
wait until everybody u have ever cared about is captured killed or kidnapped by the cults due to thier rebellions-which u cannot violate. spend your entire life fighting for such a thankless ppl without pay and w thousands of assassination attempts bc u refuse to bow to and join the adversary-and then u will begin to acquire some perspective.
Zion Oil and Gas Leadership (2017)
John M. Brown – Founder and Executive Chairman of Zion’s Board of Directors
John BrownJohn M. Brown, the company’s founder, has been Chairman of the Board of Directors since its organization in April 2000. He served as CEO until September 2004, and as President of Zion until October 2001. In January 2010, Mr. Brown was appointed Executive Chairman. In October 2012, Mr. Brown was appointed by the Board as the Interim Chief Executive Officer in addition to continuing as the Executive Chairman. On January 1, 2014, Mr. Brown was appointed as the Chief Executive Officer and continuing as the Executive Chairman. Effective June 15, 2015, Mr. Brown has stepped down from the role as CEO. Mr. Brown has extensive management, marketing and sales experience, serving as corporate director of purchasing at GTE Valeron, a subsidiary of GTE Corporation from 1966 to 1986, and as corporate director of procurement at Magnetek, Inc. during 1988-89. Until 2012, Mr. Brown has been also an officer and director of M&B Holding Inc. a provider of cement walls and floors for industrial buildings, office buildings and home developers.
Victor G. Carrillo – Chief Executive Officer
VictorCarrilloHeadshot_100-150Effective June 15, 2015, Zion’s Board of Directors appointed Victor G. Carrillo as Zion’s CEO. Mr. Carrillo was appointed to Zion’s Board in September 2010 and appointed Executive Vice President in January 2011. In October of 2011 he was appointed as the Company President and Chief Operating Officer. He also currently serves on the Board of Directors for the Texas-Israel Chamber of Commerce and the Maguire Energy Institute at Southern Methodist University. Mr. Carrillo is a petroleum geologist and geophysicist, attorney, former city councilman, former county judge, and former statewide elected official. From 2003 to 2011, Mr. Carrillo served as a commissioner of the Railroad Commission of Texas (the state agency with regulatory jurisdiction over Texas oil and gas exploration and production and pipelines), having served twice as chairman of the three-member statewide elected board. Mr. Carrillo holds a law degree from the University of Houston, a Master of Science degree in geology from Baylor University, and a Bachelor of Science degree in geology from Hardin-Simmons University. Mr. Carrillo also received an honorary doctorate degree from Hardin-Simmons University in May 2006.
Dustin Guinn – Executive Vice Chairman, President and Chief Operating Officer
DustinGuinnHeadshot_100-150
Prior to joining Zion Oil & Gas in July 2016 as Executive Vice Chairman, Mr. Guinn served as the Chief Executive Officer of Viking Services since June of 2011. Mr. Guinn’s primary responsibilities included operational and strategic management focusing on the growth, deployment and profitability of assets in the United States, Turkey, Northern Iraq, Oman, Hungary, Bulgaria, Serbia, Romania and other strategic countries within the Middle East, North Africa, as well as Central and Eastern Europe. Mr. Guinn has extensive experience in transactional mergers and acquisitions involving both entity and asset purchases as well as the integration of those acquisitions and was intimately involved in the growth of Viking, in terms of financial, operational, structural, reporting and management growth since its inception in 2008.
Prior to assuming the responsibilities of CEO in 2011 Mr. Guinn served as President of Viking International and Viking Geophysical in which he leveraged his financial background and experience to focus on the continued development of operational efficiencies, reporting implementation, profitable asset deployment and accountability focusing on ROI metrics. Mr. Guinn was integral in the procurement and negotiation of many of Viking’s key long-term, ongoing service contracts and MSA’s that Viking benefited from. Mr. Guinn has also served in a number of capacities within Viking such as CFO, Treasury Manager and Financial Analyst, which have allowed for the opportunity to have a balanced and well-rounded understanding of the business.
Mr. Guinn graduated with honors, from New Mexico State University with a Bachelor of Business Administration degree in Finance, during which point and time he competed in both track and field and football (Three Year Starter at Tight End) and earned a Master’s Degree in Business Administration from West Texas A&M.
Martin van Brauman – Corporate Secretary and Treasurer, Senior Vice President
Martin-Van-Brauman_Leadership_PageMartin M. van Brauman was appointed to the Board effective April 1, 2014 and since January 1, 2012 has been the Corporate Secretary and Treasurer and since June 1, 2013 has been a Senior Vice President. Previously between July 1, 2007 to January 31, 2009, he served as the Chief Financial Officer, Corporate Secretary, Senior Vice President and Board director. Between February 1, 2009 to July 1, 2009, he served as the Chief Legal Officer. He is Board Certified in Tax Law by the Texas Board of Legal Specialization and has been in private legal practice in Dallas specializing in international and corporate tax and business corporate law. Previously, he spent 12 years as a Senior Attorney (International Specialist and Petroleum Industry Specialist) with the Office of Chief Counsel, IRS, followed by three years as a tax consultant with Deloitte & Touche and Grant Thornton. He has published on subjects related to taxation of international oil and gas ventures. Mr. van Brauman holds a B.E. degree from Vanderbilt University, a Doctor of Jurisprudence degree from St. Mary’s University and an M.B.A. (Beta Gamma Sigma) and LL.M. (Tax Law) from Southern Methodist University. He has been an Adjunct Professor at Southern Methodist University, School of Law, LL.M. Tax Program and at the University of Texas at Dallas, Masters of Accounting Program.
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, Sept. 7, 2018 /PRNewswire/ -- 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 3rd 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 14th, 2018 and recommence testing of the identified zones of interest.
https://www.otcmarkets.com/filing/html?id=12955430&guid=oLaEUHcQEEuFRyh
To All Zion Employees,
It has been a blessing to have served in various capacities with Zion Oil & Gas for almost eight years, having first joined its Board of Directors in September of 2010. Over the years, I’ve served as Executive Vice President, President and Chief Operations Officer, and, for the last three years, as Zion’s Chief Executive Officer (CEO). Working with many Israelis over the multiple trips to Israel over the years, I have grown to love and appreciate the people and land of Israel as never before.
Over the last several years, my primary focus has been guiding the company through acquisition of its 99,000-acre Megiddo-Jezreel License and fulfilling all regulatory requirements to be able to drill our long-awaited Megiddo-Jezreel #1 well – Zion’s first well on this large license area.
It has been an arduous, complex, expensive, and lengthy process. However, through a collective team effort, we have now successfully drilled our deep well and are finishing testing our primary zones of interest.
I believe that God led me to Zion and that it was a part of my mission to help guide the company to drill this key, deep well. That goal having now been accomplished, it is time for me to move on to pursue other personal interests, effective September 1, 2018.
For two years, I’ve had the great pleasure to have worked with Dustin Guinn as Zion’s President and Chief Operations Officer – without whose talents Zion’s MJ #1 well would likely have not been drilled. It is my firm belief that the CEO position will be in great hands with Dustin Guinn at the helm.
I will forever treasure the experience and friendships derived from my years at Zion.
Shalom and may the LORD continue to bless each of you and your families!
/s/ Victor G. Carrillo, CEO
Victor G. Carrillo, CEO
Zion Oil & Gas, Inc.
many have posted that they were led to be here in this stock at this time and have even witnessed that they were told the field was gargantuan-one such hasnt posted since aug 17-why?
has that changed? has He changed?
what is the purpose?- to find a commercial field! -that has not changed and may yet be accomplished w THIS well!
promising analysis poised by zn shows five more primary targets w THIS well!!
He knows the timeline,the adversary knows whats in the ground -thus all the for zn unprecedented attacks which dont surprise me after everything i've experienced my entire life- if it were a dry well why all the unprecedented attacks??? As gamaliel said,let these men go,if they are of Him u will only find yourself fighting him,and if they have done this of their own will,their actions will fail without any action on your part.
the adversary does not have to waste this unprecedented for zn level of forces against a failed adventure!!!
so all the attacks began after the feb 13 announcement of oil in the drilling mud-so the adversary was scared, as in, "i cant let the good guys have even 1 victory ". Have u never been in a battle before???
zn has searched 18 years after incorporation. Are zn's stated goals honorable and a witness that honors him- of course = perhaps unprecedented among businesses - i've never seen a business witness like i saw at the june 5 stock holders meeting.
does the word say those who diligently seek will find?
will selling after all this time accomplish the purpose for which u were sent here? or will it just enrich others who dont have such a witness. what happened to the evidence others said they had that i've never even seen? did that evidence suddenly vanish?
what is important - to find the reservoir/commercial field or OUR timing for such?
kyoil posted a long time ago he'd never seen a situation like this that wasnt commercial-and said even if 2 of the 3 situations seen here were present every time the well was commercial-he lowered the situation to 2 out of 3 conditions present today but still every situation where 2 out of 3 existed it was commercial and kyoil said he wold continue to add to his position.
those who are led, listen to his voice, and dont follow the strangers voice. my entire life i've witnessed the adversary take over 1 power center and person and stock after another by default bc his rebellious people refused to grow up or hear or listen and didnt even know how to fight.
so given the kyoil etc witness above i asked Him whether finally zn had a commercial field or find-and before i finished asking i heard, yes,they do. Others here have had such testimony also. I didnt ask any further questions such as whether this well was commercial bc the one question seemed to provide the info i needed.
zn has only partially tested 1.5% of the well- and has used a standard small acid job to test the effectiveness of such acid in opening up a not uncommon area of tight permeability-
and from what i've posted before the subsequent inducement of an artificial flow of 90-110 barrels/day seems impressive for such a small no pressurized acid job.
so on this basis many gave up or became confused??? why??? perhaps they know far less than even i-or what i used to know- re oil wells-do they read the dd=apparently many dont.
as i believe kyoil has said before u dont encounter oil gushers anymore-not if u know what u are doing- and kyoil could explain the technicalities of why.
you have the witness from the garden forward not to listen to the adversary -why would u - u know his purpose - but those who have listened and ignored the warnings are confused- their mind can no longer process info in a linear way and thus they twist whats been said. kyoil did NOT say he was giving up -said he was still here and would add to his position.
conditions are still green for 'go for the gold' w this well;
if not this well,then a lateral for this well or another well from the same drill pad,but we have no info that requires us to give up hope for THIS well yet!!! But i can see why many of his professing people cant follow a straight path-as in give UP without a fight.
at present we are subject to the 3 dimensions of body mind and soul subject to a 4 dimensional space time continuum
in such a state,in which it is impossible to presently walk in more dimensions or timelines,humans are impatient beings- groups take advantage of that
i've researched literally thousands of stocks and many thousands of 10q's etc and fin statements to help my late best friend avoid foreclosure due to the great recession and to try to save my best friends family
so i can tell you that EVERY company experiences delays just as we do in our own lives-not just zn
Companies situations are usually more complex than most ppls individual lives and thus can logically expect to experience more delays-by this time most on this board should understand the big picture of the why of those delays
this requires, as the word commands us, patience,a bitter pill for humans
and i realize some here have been waiting on zn for 13 years or longer-so i understand their frustration
i've fought legal battles on behalf of the 2 tim 3:1-5 body for decades without reimbursement or even thanks while fighting for such Body while waiting over 50 years just for the Body to come to a point where they will finally hear or listen,a common problem experienced(and recorded throughout history) by those walking in my offices
do i get frustrated after 50 years of such -yes!
but we do not belong to ourselves-if we did i wouldnt be posting or have spent my entire life solving problems nobody else could without pay
longs timeline is often not realistic and never is the same as a companies timeline
-those are the cards we are dealt-the only thing we can control are situations we can control and should but dont-a concept barely touched by the Body as it is
so the only thing we can thus control is our response- we can do what we are suppose to do or we can join the nihilistic hoards and lie cheat steal kill and maim while running thru the streets w our heads cut off- thats the easy way -but such easy way does not take into account 2 of the 3 space dimensions(see above) we operate in
nor does it take into account what we are suppose to be learning and growing thru these experiences nor what the co is going thru nor the purpose and location of eternity
so we can cry in our soup and join the mob or we can be original and pioneers (never easy-something zn itself is trying to do by drilling onshore israel) and show a dry desperate insane world what its like to learn and grow by example,which is our given duty
https://www.otcmarkets.com/filing/html?id=12955430&guid=7WqEUWua4rIVQZh
let me explain the holiday schedule problem within the limitations of this board
zn has already posted that in the 16000 ft and deeper zone that it takes 4-5 days roundtrip for the drilling pipe to be removed to retrieve the packer at end of its short 4-5 day life and replace w a new packer
zn leases the drill pad from a religious kibbutz which strictly observes sabbaths -to the extent that zn doesnt even run the pumps to circulate the drilling mud-this may be a condition of zn's contract w the lessor kibbutz!!!!!!!
besides the weekly sabbath there are 7 high sabbaths during the year- 4 of them are during the fall high holy days - rosh hashanah, yom kippur plus the 1st and 7th or 8th day of sukkot(tabernacles)are high sabbaths,being
sept 10-11 monday /tuesday, sept 18 tuesday,and ca sept 24 1st full day of sukkot and ca oct 1
would have to look up a jewish calendar to verify exactness which is not in front of me
do the math and the logic -a lot of things are answered via simple logic-a lost art
between regular sabbaths they have 4 or 5 days(if they work sunday) to do something
none of the high sabbaths coincide w the regular sabbaths -by jewish law they arent allowed to!!- a high sabbath cannot be on the same day as a regular sabbath!!
so with all the 4 high sabbaths on mon tues wed or thur you have to start using a 3 dimensional calculator-taking into consideration the 4 day round trip to get in and out of the well-to see if u could actually get something done-NOT efficiently!
SO ZN SAVES MONEY by temporarily halting actual drilling/testing operations
that doesnt mean zn isnt doing anything-they can analyze,plan,do logistics and the reflection part of the praxis during this time-something that normally occurs in any operation that doesnt have offset wells to learn from
i just posted re this within the last few days from a previous years zn pr re this same fall high holy days schedule where zn's pr noted they observed such holidays
so THIS IS NOTHING NEW AND NOT SURPRISING to those who follow the dd
trash it for every body else then, which is what humans seem to do to watch out for #1 instead of helping each other
i've made several posts re this issue in the past
victor gifted -didnt sell- i am not aware of ppl restricting what the giftee does with a gift
such a contract would not be a gift in the common understanding of a gift-it would be something else
gifting is an area without a high level of clarity- no pronouncements to my knowledge by a high court
thus the law on gifting in this specialized situation would be a states issue-either statutory or tx case law.
victor, a lawyer and former judge -does anybody read these things-wold have received approval form zn's compliance officer and compliance committee and perhaps board before even gifting
we are not privy to specifics of sec investigation but victor was named individually in that investigation,which is a logical reason for the pres and coo to have signed recent missives not issued by jb
and if if if victor did not comply w the protocol i have noted above-something that is very unlikely- then that might factor in his resignation so as not too complicate things for zn
hasanybody heard of oczams(sp?) razor
you proceed w the most simple likely natural reasonable commonly understood scenario FIRST- same methodology you use in reading the word
tx state statute or law researched by zn's compliance committee probably allows gifting in such circumstances -that would make sense since tx is one of the most freewheeling states in the union if not the most freewheeling ,where everybody carries a gun e.g. -dont make me do all the dd- i dont get paid for this -i've already posted my research on this before
tx is very high on states rights and individual rights
its logical
pioneering the maze of israeli petroleum red tape sometimes while its being created was a good challenge for victor - a lawyer and former judge
now the focus is on operations-the ceo and or coo role Dustin fulfilled many years with viking and dutin has been doing the day to day as zn coo:
Over the last several years, my primary focus has been guiding the company through acquisition of its 99,000-acre Megiddo-Jezreel License and fulfilling all regulatory requirements to be able to drill our long-awaited Megiddo-Jezreel #1 well – Zion’s first well on this large license area.
It has been an arduous, complex, expensive, and lengthy process. However, through a collective team effort, we have now successfully drilled our deep well and are finishing testing our primary zones of interest.
I believe that God led me to Zion and that it was a part of my mission to help guide the company to drill this key, deep well. That goal having now been accomplished, it is time for me to move on to pursue other personal interests, effective September 1, 2018.
victor, a lawyer and former judge,before he did so-would have to go through zn's compliance officer/committee and perhaps board,which having researched the law on gifting(not selling) would have ok'd the gifts- no officer does those things on his own- sother would have been 3 layers of lawyers/circumspection before victor made a gift of shares
yes interesting that these defamatory reports get recycled -the magicians trick - to get investors attention off good news-quite a racket
that apparently is the complaint used by panda or an associate to try to get an sec investigation started-NOT a doc by sec-but we are forced to explain that
definitely a creative fantasy life
blatant defamation
a reckless disregard for the truth
repeatedly states reckless assumptions as fact
CWRN NEVER HAD high sulphur-saying the same lie over and over while rejecting 100% of all dd doesnt make it true
most usa etc ore has too many impurities-commonly 50%- to be used as fert
fert processors accessible via clearinghouses like omri link sources w such processors,and thus i understand cwrn sold some fert thru such a clearinghouse
whole purpose of expensive highly customized trommel was to separate fines from fert materials
but the planned aug 2012 shipment failed bc mexico suddenly required a usa export license
which cwrn could not get bc the july 1 mex pres election was appealed to the mex supreme court and thus licenses were not being issued - have told this many times - unfortunate some have rejected all knowledge
so many tabs open-here is form 3 which i believe was already posted here
https://www.otcmarkets.com/filing/html?id=12950308&guid=EnFEUFmjSlMLk3h
form 3 is apparently required for some purpose before a new director can file a form 4, which was posted just today
he already has 13000 shares and can acquire 25000 more at 1.78 on 1st reading
https://www.otcmarkets.com/filing/html?id=12952091&guid=EnFEUFmjSlMLk3h
https://www.otcmarkets.com/filing/html?id=12952091&guid=EnFEUFmjSlMLk3h
as of the update- as the update says- they were still testing
the update was aug 16- only 3 weeks ago- nothing to indicate we are being given the silent treatment except as they have said they are careful not to reveal material info via personal communications
there have been plenty of filings-has kept me busy responding to them- ca 7 filings in last month -since aug 8
when they said out of necessity in conservative legal docs like 10q's that had funds to july 30 they didnt run out of funds and then said to sept 30 again conservative due to the nature of conservative legal docs-but likely wouldnt run out of funds then as detailed prior
they arent just contemplating their navels-there is no doubt plenty to do in continued planing and logistical and analysis- either concomitant with or alternately with testing-the praxis requires both action and reflection
https://www.otcmarkets.com/stock/ZN/disclosure
https://www.otcmarkets.com/filing/html?id=12923779&guid=EnFEUFmjSlMLk3h
the ff sheds some light on initial transporting of oil to haifa refinery when it occurs,a distance of ca 50 miles- beth shean -north of the site is only 43.5 miles and 58 minutes by road
https://www.rome2rio.com/s/Haifa/Beit-She-an
at that time zn answered a question by saying they would truck the oil
in the usa -due to pipeline limitations while new pipelines are built- they are trucking and railroading some oil all the way from the canadian border area to tx etc refineries
its interesting to read old PR's such as this one which sheds some light on the holiday schedule zn may be referring to(in addition to labor day) in a purported recent ir message
https://www.zionoil.com/updates/press-release-zion-oil-gas-israel-drilling-update/
sorry tisdal, dont know yet whether you've posted all the ff info with all the games we have to deal with here- still trying to get thru the posts
john seery's reign as a director officially began sept 1
https://www.otcmarkets.com/filing/html?id=12920330&guid=6HHEUeiLHwHTcyh
the following form is the form used for an intial investment by an insider
https://www.otcmarkets.com/filing/html?id=12950308&guid=6HHEUeiLHwHTcyh
dont know where they temporarily shut down or not-only 1 ir in a sea of irs's that indicates a temp shutdown for holidays(like labor day)etc-to observe local customs they likely would shut down for rosh hashanah starts sunday sept 9, 6 pm ;and yom kippur,one or both of which are high sabbaths
opti had many confirmations from the columbia permit agencies-confirmations which he posted- that the permits were proceeding.
Not talking mine plan etc which were approved years ago but environmental permits,a long process,which for a mine cant take decades in the usa-
e.g heclas rock creek mine in montana has been through over 12 years of permits,during which the initial mining co rvm had to give up and sell to hecla
i did land use planning for 17 years and it is a long process
re the forever spiel re 2-3 more weeks for auditing either the auditors are taking him for a ride=this is the 3rd set of auditors or he is pathological
why 3rd set of auditors-either he hasnt supplied needed info
or the auditors cant get communication w material companies newc posited doing business with
or there is lack of communication or bad communication between campo and the auditors
or extremely bad luck w auditors
or the toxic financing mess is such a headache auditors cant get through it
there is plenty to audit-lots and lots of toxic financing via convertibles and resulting derivatives- a real mess
the acid produces a fluid composed of unused acid,used acid,a slurry of the rock 'melted' or neutralized by the acid,and water. Water is produced upon contact of the acid with the rock medium.
the purpose of the acid stimulation is to open up a tight formation(low permeability).
Such tight formations are fairly common and the use of acid stimulation upon such formations is common.
the slurry or completion fluid resulting from the acid stimulation has very little to do with the eventual oil and its water cut produced by a well.
Thus,there is no reason whatsoever to waste time and money determining the exact composition of the completion fluid.
This is basic and should be known by any 'expert'.
i've provided long posts re their financials which suggests they will be ok-previously they forecast july 30 but didnt run out-thats the nature of conservative legal docs called 10q"s
so even without the current offering it s very unlikely they would've runout sept 30
see my long posts re this
this has been explained many times,but since some still dont get it,
zn used a SMALL probably low pressure acid job-thats the logical choice to begin attacking low permeability
despite the SMALL acid job they were able to induce an artificial flow of 90-110 barrels per day-we dont know how many days as of the time of the last update
logically this is encouraging for that is a lot of artificial flow for a small acid job
as the article i posted said,
"Well acidizing is achieved by pumping acid into the well to dissolve limestone, dolomite and calcite cement between the sediment grains of the reservoir rocks"
presumably, as noted, they began with low pressure-and to get that much artifical flow logically implies, as the article says, that there were enough interstitial soft rock for the acid to dissolve - to thus enable an artificial flow of 90-110 barrels/day
if there werent any soft rocks logically they'd have to use high pressure acidizing
to forcibly break up the harder rock
HOW IT WORKS
How Does Well Acidizing Work to Stimulate Production?
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Stimulation is performed on a well to increase or restore production. Sometimes, a well initially exhibits low permeability, and stimulation is employed to commence production from the reservoir. Other times, stimulation is used to further encourage permeability and flow from an already existing well that has become under-productive.
A type of stimulation treatment, acidizing is performed below the reservoir fracture pressure in an effort to restore the natural permeability of the reservoir rock. Well acidizing is achieved by pumping acid into the well to dissolve limestone, dolomite and calcite cement between the sediment grains of the reservoir rocks. There are two types of acid treatment: matrix acidizing and fracture acidizing.
Well Acidizing
Source: MPG Petroleum
A matrix acid job is performed when acid is pumped into the well and into the pores of the reservoir rocks. In this form of acidization, the acids dissolve the sediments and mud solids that are inhibiting the permeability of the rock, enlarging the natural pores of the reservoir and stimulating flow of hydrocarbons.
While matrix acidizing is done at a low enough pressure to keep from fracturing the reservoir rock, fracture acidizing involves pumping highly pressurized acid into the well, physically fracturing the reservoir rock and dissolving the permeability inhibitive sediments. This type of acid job forms channels through which the hydrocarbons can flow.
There are different acids used to perform an acid job on wells. A common type of acid employed on wells to stimulate production is hydrochloric acids (HCI), which are useful in removing carbonate reservoirs, or limestones and dolomites, from the rock. Also, HCI can be combined with a mud acid, or hydrofluoric acid (HF), and used to dissolve quartz, sand and clay from the reservoir rocks.
In order to protect the integrity of the already completed well, inhibitor additives are introduced to the well to prohibit the acid from breaking down the steel casing in the well. Also, a sequestering agent can be added to block the formation of gels or precipitate of iron, which can clog the reservoir pores during an acid job.
After an acid job is performed, the used acid and sediments removed from the reservoir are washed out of the well in a process called backflush.
there are apparently 3 main avenues to increase production and or recovery -techniques like acid(could call it micro fracturing i guess-not prohibited by israel)
multilateral wells- many spikes into strata from the same main bore
and large scale fracking-which israel prohibits last i knew
zn has been acid stimulating the bottom of the well- triassic -due to low permeability-a standard method discussed in the twilight in the desert oil book re saudi arabia
i posted a long article on acid stimulation before -this is a simple article
https://www.rigzone.com/training/insight.asp?insight_id=320&c_id=
and multilateral wells which also allow u to skirt strata w lots of water
http://www.drillingformulas.com/basic-knowledge-about-multilateral-well-and-completion/