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despite all the promise of a commerical well,(though they never claimed it as a commercial well yet bc not enough testing to do that) zn somehow has been through a brutal summer.
the president and coo dustin discussed at the june 5 stock holder some of the series of hindering blocking delays they had experienced at the hands of the adversary and the miracles which ultimately enabled them to overcome those roadblocks
there is a word-of course cant be posted- that zion fire is coming-that word was associated w the israeli new years of rosh hashanah,which begins 6 pm Sept 10
so i hope it bodes well for us/zn also-we've already been through the summer,which was associated historically w judgment,whereas rosh hoshana and yom kippur were associated w deliverance,as in the yom kippur war turnaround
you worded just fine, i was just backing you up
the composition has nothing to do w a natural flow subsequently induced,
but its interesting that using only a SMALL acid stimulation job,
that they were able to induce that much artificial flow-
which suggests there is a lot of softer filler rock like limestone or dolomite etc,which once dissolved via the acid,will greatly improve any natural flow by opening up channels for such natural flow.
the presence of that much soft filler would be a good sign,for that enables good permeability upon stimulation,whereas if there were no soft fillers,it would be much harder to increase permeability.
if a small acid job induced 90-110 barrels/day for how many days? then how much will a large acid job induce???
again,nothing unusual about such stimulation techniques,which saudis etc use also
in the usa there are many small oil companies which specialize in recovering oil from previously abandoned wells-and such companies operate those recovery wells as low as 100 bopd or less
or just use a larger acid stimulation job to see if that allows for natural flow
remember, zn also has jurassic zones above ca 15175 feet-which are carbonate and fractured already and which will be tested after the bottom triassic zones
"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."
what zn apparently is calling 'completion fluid'-a combination of dolomite and soft rock compounds and water created by acid stimuation of rocks plus the remaining acid
the acid removes these soft rock fillers to open up-similar to fracking- an otherwise tight area of permeability so it has a higher permeability
a false issue is what is the composition of the completion fluid-which totally misses the point- the completion fluid
has nothing to do w the natural flow of oil and water which will occur as a result of opening up the pores
Item 8.01 Other Events.
Zion Oil & Gas Confirms Active Petroleum System in Megiddo-Jezreel #1 Well In Israel
Additional Testing is Needed to Evaluate Reservoir Potential
DALLAS and CAESAREA, Israel, August 16, 2018 /PRNewswire/ -- Zion Oil & Gas, Inc. (NASDAQ: ZN) announces that it is completing the initial testing program of its primary zones located within the Triassic-age Mohilla Formation of the Megiddo-Jezreel #1 (MJ #1) well.
Zion’s President and Chief Operations Officer, Dustin Guinn, makes the following statement concerning the MJ #1 well:
Zion has a sincere desire to be transparent in the details of our operations with our shareholders, for a number of reasons. Most of our shareholders share a passionate alignment with the vision of Zion that extends beyond financial success. We view our shareholders as partners in this journey, which has been difficult to say the least. As a result, this operations update will be longer and more detailed than most and will be subdivided to try to answer some of the most common questions.
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.[see feb 13 pr] 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.
2. Third party petrophysical analysis of our open hole logs continues to suggest that oil is located in this zone as well as other zones of interest.
3. While testing the zone between 16,415 ft and 16,500 ft, we perforated the casing and performed a small acid stimulation job. Upon circulation of the acid out of the wellbore, minor amounts of oil were observed while taking small samples of the fluid being circulated out of the wellbore.
4. Following the circulation of the fluid after the stimulation job, we ran back in the hole and began to swab the well to attempt to see if the well would flow. As of the writing of this update, when swabbing, the data confirms the well artificially flows at a rate of approximately 90-110 barrels of fluid per day in the zone between 16,415 and 16,500 ft. We are still swabbing completion fluid as of this writing and the results of the well are inconclusive at this point as to whether the well will establish natural flow and what the volumetric contribution of oil and water will be.
5. We remain hopeful but do not yet know if there is producible oil in commercial quantities within our deep primary zones, and there are still many questions yet to be answered. However, we can say with reasonable confidence that the formation is tight with low permeability and has few natural fractures. This is not uncommon, and often times requires advanced stimulation techniques to help determine the well’s commercial potential.
Is the MJ #1 a Successful Well?
This is a question that can be answered in a number of ways:
1. In considering the success rate of wildcat wells, with little to no offset data, in our opinion the MJ #1 could be considered a geologic success as follows:
a. A very favorable Thermal Gradient has been shown to exist;
b.The MJ #1 has successfully demonstrated the existence of an active petroleum system. Oil has been encountered which we believe confirms that mature source rocks have expelled hydrocarbons that have migrated into a trap which was drilled by MJ #1; and
c. There are multiple identifiable targets and objectives that have been observed based on drilling, testing and petrophysical analysis, which we have yet to test.
2. Is the well commercially successful with the information that we currently have, as of the writing of this update, during the testing of the deepest zones of interest? The answer is no. The drilling and testing on this well was much more costly than we expected, and as of today cannot be considered commercially successful.
What Caused Delayed Testing Results?
Testing of the MJ #1 well has taken longer than anticipated for a number of reasons, some of which we wish to outline:
1. We made the decision to test this well only during daylight hours. Given that it was a wildcat well, we decided to only operate during daylight hours and emphasize safe operations over time and cost.
2. We continued to observe Shabbat, which limited testing operations from 7:00 am Sunday morning through 7:00 pm Friday evening.
3. In our opinion, the most impactful operational delay resulted from what appears to have been ineffective casing guns and charges, sourced locally in Israel and initially used to perforate all the zones. We purchased additional casing guns and charges from the United States at the commencement of testing, which fortunately, allowed us to re-perforate all the zones of interest to achieve injectivity and properly stimulate the well.
4. The primary zones we have been testing are all located at depths greater than 16,000 feet. Every time we had to run in the hole and out of the hole took, on average, four days.
5. Every time we wanted to isolate a particular zone to test, we had to install an isolation tool called a packer, which contains rubber elements. Due to the very high well temperature, these packers would only last, on average, approximately five days. When they failed, we had to pull the pipe out of the hole and replace the packer, which added, on average, four days.
2
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 zn has apparently been doing a matrix acid job-a small acid stimulation- not a high pressure acid stimulation-and has been recovering remaining acid in the completion fluid
so that type of micro fracking employed by zn does not have the same environmental concerns as regular fracking
plus zn location is not as sensitive as the golan either geopolitically nor environmentally- golan plus mt herman etc produces much of israels water- meggido valley does not-and zn is within the pre-1967 borders
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
impressive job buddy- is this the theory jryan posted/ - i never saw his apparent long post on this
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/
fund managers could have been on vacation today or at least pm for tee time-but they also knew a friday end of august before labor day weekend would be a prime time to buy cheap
and the inference re using the nasdaq stock site is ?
could be many many millions more shorts than shown in the manipulated bimonthly short reports
lowest avg short % over 20 days -ca 35%-that i've seen on zn last ca 2 years
http://www.volumebot.com/?s=zn
thats a pattern with a lot of stocks- i do dd on a lot of stocks -then without any info pps jumps - 1-3 days later one finds out why-gets frustrating bc the whole market seems to run on such insider info not available to us
could of course be shorters not willing to wait out the 3 day weekend-but are many millions of shorts left
on my chart jumped from 1.77-1.91 on 172,318 shares 10:35 am
and 222,323 bought at 2.0299 10:42 am
wonder whether zn has has past contact - jay is jewish and has argued many times before the usa supreme court
he heads the aclj -a counterpart to the aclu- and base of operations is pat robertsons regent university,whose law school originated w oral roberts in 1979.
the idea of a xtian law school so offended the aba oru spent a million dollars /year defending it against attacks by the aba,so oral turned the school over to pat who had the political and legal power to withstand those attacks
STRAIGHT UP-nice BOP
and yes it is zions well
such a question reminds me of a mine in desert baja
some questioned whether the pics were of the baja mine -creatively saying the bc on license plates was british columbia-but them mine was west of the continental divide as every body knew,and in british columbia such land west is a rain forest - not a desert
as noted before, a tweet and a partial screenshot of a denial of a foia request dont qualify and have never qualified and cant qualify as official notice of an sec investigation.
such legal official notice didnt come til june 21 summer solstice -the law system wide provides for 20 days to respond,which zn no doubt did -plus zn filed the 8k within 20 days.
so even if a new legal precedent could be created re notice it could not be retroactively applied,and such a lower court precedent would not survive an appeal by zn if it got that far.
plaintiffs know this and thats why they ask for a jury trial hoping to fool those not educated in the law- but instructions would be provided and any verdict contrary to law could be struck down by the judge,who could enter a directed verdict on zn's behalf.
hopefully the "frivolous'' case will be dismissed via summary judgment,as in no reasonable person based on the facts and the law could decide against zn,before any trial
Specifically,
Defendants made false and/or misleading statements and/or failed to disclose that: (i) Zion was
either already or was likely to soon become the subject of an SEC investigation; and (ii) as a
result, Zion’ public statements were materially false and misleading at all relevant times.
Again the completion fluid resulting from acid stimulation purposefully creates water upon contact w the media as a standard method to encourage natural flow
the water cut produced by this method is totally irrelevant-and is a nonstarter distraction
https://www.otcmarkets.com/filing/html?id=12920330&guid=_98EUKAXfkxlOyh
effective September 1, 2018. JUST IN TIME?
Zion Oil & Gas, Inc. (“Zion” or “Company”) has appointed John T. Seery to its Board of Directors (“Board”) as an independent director, effective September 1, 2018.
Mr. Seery has over forty years’ experience in the project management and design of oil and gas facilities. Projects have included refining, gas processing, compressor stations, terminals, production and construction facilities. His scope has ranged from feasibility and conceptual design and studies, including cost estimating, detail design, procurement, startup and project and construction management.
good testimony. I believe zn has a commercial find,whether this well is commercial or not,and they've only tested as of last update 1.5% of the depth.
Things seemed different this time- the dream team after 18 years,obstacles which had to be overcome via what President Dustin called a series of miracles at the stock holders meeting,the unprecedented witness at said meeting,all the unprecedented for them adversarial obstacles meant to hinder delay obstruct stop or discourage.
So it will be interesting to see what the adversary has tried to block
the culmination of the dog days of summer,capitalizing on the saying ,"Go away in May..."as many fund managers and retail do
august is the worst imo and the day before a major holiday is usually bad for the long re buy sell ratio -all things being equal a friday 38 minutes before closing before the 3 day labor day weekend would be the lowest and some are working towards such
fund managers and others stop playing hookey after labor day,which thus benefits retail longs
It would be interesting to have the next shareholder meeting in that area
ZN has been in a battle-a different kind of battle-but which is behind every battle-and the last battle fought in this valley-known to us already -will be unique.
https://samsontours.com/stop/the-list-of-battles-fought-at-megiddo-176
zions rig
as of the last update zn said they had not even been served/given notice in any shareholder suit
so as infocus surmised, the suits may turnout NOT to be real.
Such ambulance chasers are the worst of the worst -and we were taught,'forget childhood concepts of truth justice honor integrity morality, right and wrong-those things no longer exist"-almost right out of the satanic bible.
the legal system was the biggest cult i ever dealt with -all such cults are an upside down world of unreality ,calling good evil and evil good.
power and control-they know the suits -if they ever go forward -will be consolidated by a judge
glad to see u are still kicking-and a posting magnate at that
pics of pres of bao brazil w Bob etc at the mine were posted often plus pics of vp of bao when he came to the mine
bao was the only big steelmaker without a self owned mine-this was before bao bought a brazilian mine-and thus at the time was very interested in cwrn- VP didnt travel to baja for a vacation
I stand by my post- 4kids9pets and others have detailed in great lengths a dozen ways mm's manipulate/hide true shorts in bimonthly short reports
finra daily "short volume' and sites providing daily shorts regularly show until last week 40-60% short ratio on zn -not the 10% of bimonthly
shorters always argue mm's report only 1 leg of a transaction (and conveniently 100% on short side?)
which is saying mm's are knowingly grossly lying to finra daily-
nobody has explained why in an era of electronic trades where trades take only a millisecond why mm's wouldnt wait a millisecond for the 2nd leg of a transaction to post
shorters always worship bimonthlys to hide their true involvement so they can blame pps drop on company-and those who believe blame on company are thus captured-this is the only board where longs even bother to look at bimonthlys in my experience
http://www.volumebot.com/?s=zn despite lowest short % for a week i've seen since pps is at a one yr low last week this shows 43% short volume for last 20 days
whenever i have checked the official regsho.finra.org site they show even higher short volume-and that is finras ' short volume 'descriptive
http://shortvolume.com/ this site shows 30% or greater short volume for blue chips like google and walmart and last 2 years 40-60% short volume for ZN!!
The bi-monthly short reports are reportedly easy to manipulate and allow mm's etc many days to prepare for such so in our opinion understate true shorting.
finra also has a daily shorting count under the shorting descriptive- shorters description of such implies finra is deceiving-reporting just 1 leg of a transaction,which does not make sense when all legs can be completed in seconds with todays electronic clearing houses.
mm's reportedly have a dozen ways to hide true shorts-see posts elsewhere by 4kids9pets etc
asper 8k july 11 zn said received sec notice june 21
the ff shows the ca 6.9 m june 22
https://www.otcmarkets.com/stock/ZN/overview
yes people talked about it -i dont think it had anything to do w zn being added to the russel
companies and thus others from what i've seen have a 10 day or more window where they know they will be added to the index
there arent enough buyers or sellers for that much volume in such a short time so they did it off hours in a t-trade? is that what posts said back then?
there is a shorting cartel which targets companies under sec investigation- so my guess is they bought many of those millions-they are sophisticated(well not all of them) and connected imo to sec and probably brokers and mm's,esp during the swamp era
thats what shorters do- buy high-and for that out of this world volume at closing or just after closing-dont remember the details of the posts re that incident-did mm's save up shares for them or issue naked shorts?
imo they sometimes know about investigation or notice before a company but to buy thier millions of shares short -which they have already denied by pushing the bimontlhy short reports-before notice to a company would reveal their insider trading-which thier buddy sec then might have to investigate!!!
but as noted above can anybody explain how such a ca 7 m volume of shares could trade in a moment-there arent enough bids or asks so wasnt done on the market but after hours
if not the cartel then maybe bigboys buying who probably wouldnt know about the sec notice to zn as soon as the specialist cartel might have
i agree- sounds like a personal vendetta against zn,which can come from a former now reprobate long who lost big ,ex-employees/mgmt/ex spouses etc - former promoter hal engel who mainly posts on the wolv board has a long article re this somewhere-but i'm not allowed to post where to find it
the point of the prophecies for zn would be the timing of a discovery
mark taylor said the sign would be mt sinabung- dont know why Elohim gave him that volcano as the sign-as Mark Taylor moted inyou tube videos-
but ZN announced oil in the mud just 6 days earlier-which is interesting,especially as ZN President Dustin said at the june 5 stockholder meeting that ZN had the only rig in onshore israel currently drilling for oil
the late kim clement-passed away nov 2016- had prophecies re energy-many of them re a new type of energy predicted by albert einstein-but i could never figure out what that was and perhaps nobody else did either bc at one point he said it wasnt time yet
'The fall ,the fall the fall, will bring about the energy. He also said it would be released in the fall'-sounds like kim
definitely defamatory-a lot of assumptions which are treated as gospel by somebody who obviously does not believe in either of zn's purposes- somebody out for revenge of some kind?
agree- overreacton is the most consistent thing i've found re the market
shares are priced as if this well is over and everything has to start from scratch,which is just enriching big boys who know better
it doesnt help that we are in the worst dog days of summer when many retail and fund traders are on vacation,whatever that is
the important thing as you've noted is to verify a commercial find-
the purpose of an exploratory well- and if it also produces thats gravy
and once a commercial find is confirmed many will see the value
https://www.otcmarkets.com/stock/ZN/overview
remember Bao probably wanted to buy out cwrn also
pres of bao brazil was often at cwrn's concession doing testing-as seen in the pics many times-and then VP of the board Bao China personally visited Bob and the mine-there was serious interest -Bob didnt have to make up any tender offer which was just a hassle for him to deal with
these things were all discussed long ago -dont know what the point of renewed discussion is
crazy low one year lows recently -previous 1 yr low last nov before any sign of oil in the hole was ca 1.88
and that would be a minimum total shorts as mm's have 3 days and a dozen ways to prepare for those bimonthly reports and hide the true number of shorts
the daily reports over last 2 years indicate a short ratio of ca 50%,as confirmed by other sites
but has fallen in the last 20 days of trading
http://www.volumebot.com/?s=zn
have you heard of fiduciary duty -plus i think the sec requires the disclosure of tender offers-the necessary cite was posted at the time-dont know why i continually have to do others dd for them- whats the problem- if they had not disclosed he would've been harassed for not disclosing
straight up
Zion Oil & Gas Confirms Active Petroleum System in Megiddo-Jezreel #1 Well In Israel
Additional Testing is Needed to Evaluate Reservoir Potential
DALLAS and CAESAREA, Israel, August 16, 2018 /PRNewswire/ -- Zion Oil & Gas, Inc. (NASDAQ: ZN) announces that it is completing the initial testing program of its primary zones located within the Triassic-age Mohilla Formation of the Megiddo-Jezreel #1 (MJ #1) well.