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Some factors affecting Zions pps fall
Feb 18, 2018 ZION PR of oil in the drilling mud causes pps to double in a day or 2
this no doubt hurt the usual groups and was part of the reason for a complaint filed against zn by a purported leader of one of those groups. Ryan has kept a very good record of that.
This in turn led to the SEC’s informing ZN of a formal nonpublic inquiry in June 2018 -which crashed the pps and still hurts the pps to this day, as it is not the sec’s policy to exonerate a company even after an inquiry ends with no charges.
This led to derivative lawsuits from individual stockholders who became disgruntled by lack of progress in their eyes. All those suits were dismissed and ca 150k, give or take, of ZN’s retainer was returned to ZN.
This led to pps falling below min bid price for Nasdaq membership. ZN fought that but eventually decided to transfer to the OTCQX- the top tier of the otc market exchange.
ZN finally decided to withdraw from NASDAQ and join OTCQX in2020
ZION OIL & GAS INC (Form: 25-NSE, Received: 10/27/2020 06:58:52) (otcmarkets.com)
government agencies and the nongovt for profit company otcmarkets (OTCM from memory) have been demanding greater accountabilty longterm. This increased rapidly beginning late 2009 to 2011 and to 2016. Greenlighted by political appointees from 2009-2016- under the policy ‘business is evil and thus must be stopped’- brokers began freezing and restricting thousands of stocks- forbidding bigger owners/positions form selling while buying was restricted and many groups shorted those stocks to .0001
in latest round pink ‘no info’ and pink “limited info’ classifications were eliminated under new sec 15c 211rule, resulting in ca 3600 stocks being relegated to the illiquid grey market sept 2020.
The OTCQX was created c 2009 as part of this emphasis on greater transparency. First time I saw it only 25 companies but now over 500 companies. The info provided by otcqx companies for all practical purposes is similar to the big boards. They are all sec reporting. Many foreign blue chips reside on the OTCQX to avoid the red tape and ca 185 k/yr fees of the big boards.
The problem is most investors are not even aware the otc market exists, so that reduces the potential investment pool. Nothing secular we can do about that presently
And even some stock brokers are not aware of the otcqx so they cant inform their searching clients of the otcqx, can they!
E.g., I had a half hour conversation w a stock broker, who as usual was incredibly ignorant of and ragging on otc stocks. He said, ‘they dont even report any financial information.’ I rebutted, “of course they do- I spend as much as 8 hrs/day reading their 10q’s and 10k’s etc “. [on literally thousands of stocks].
During the conversation I mentioned the OTCQX 7 or 8 times. The last time he excused himself from phone [ to look up OTCQX bc he had no idea what it was] and triumphantly and arrogantly returned to shout otcqx is a mutual fund!!. I would not believe the arrogant rebellious ignorance if I hadnt seen it my entire life.
So if even brokers are not even aware of the otcqx you see the problem.
The next step in the reduction of the investment pool is that most serious investors /big boys wont buy a so called penny stock [officially a stock below 5 dollars pps] or especially a stock below a dollar pps.
The big investors who do buy below these pps figures are usually bad elements interested in only manipulation for their profit (such as hedge funds- imo we had one such operator on this board til a couple years ago) or extreme speculators.
Those are reasons why pps needs to be raised because presently last couple years stock we paid up to 10 dollars or more pps for has been rapidly diluted.
ZN should have done that long ago – but like I said companies are focused on operations, not matters like these.
Most companies are NOT aware of all these things – they major in operations and largely ignore these things.
We know Zions banner as largely american xtians [ the great satan as some groups say] working to bless israel (the little satan) as per the Word (Gen12:3). Thats a powerful witness which makes ZNOG a triple whammy target by the world in the midst of being terrestrial pioneers in the israeli oil industry.
Thus Zn has a daily uphill operation and Eph 6 fight -which as evangelicals, as opposed to full gospel, most of them dont know how to fight [a whole book in itself] ,as the ecclesia has not yet grown up and refuses to hear or listen ,as throughout most of history[a whole book in itself ].
So to ease the guaranteed tension between investor relations and longs we need to communicate some of these things in this context– especially the reduction in serious investors resulting from such a ridiculous dilutive pps.
I did warfare last night – how much re this vs how much being a target myself I dont know yet. Being full gospel is the very 1st step on the road to be able to do this warfare [a whole book]– which ZN needs.
Maybe somebody can do the research to confirm/show serious investors / big boys usually avoid a pps below 1 one dollar and even below 5 dollars[officially penny stocks].
On the upper right of Zions otc page we see ZNOG is penny stock exempt [a good thing for many reasons]but serious investors /most big boys will never see that bc a company at this pps will never be on their radar and is unknown to many brokers
ZNOG - Zion Oil & Gas, Inc. | Company Profile | OTC Markets
ZNOG - Zion Oil & Gas, Inc. | Company Profile | OTC Markets
of course another major determinant is the ravenous dspp program, which diverts buys from the market buy sell ratio as a powerful depressant of the pps. Debt has its own problems and absence a miracle white knights dont exist.
Maybe ZNOG plans to bring a r/s vote as part of the stockholder meeting in june – but they need to be informed of the above and how we feel re such a r/s decision bc r/s are normally opposed by longs. Thats bc they are often used by true penny companies who dont have the fundamentals [a product equipment and operations etc] to support the pps and thus pps continues to fall after a r/s in those co’s.
Other considerations- this is a tricky time to do a r/s – it may signal to some that zn’s well is commercially dry, a negative which can be countered by a PR. ZN may have to provisionally make a motion for the june meeting which could be withdrawn if a they have a commercially wet well by then.
Any other ideas on how to solve the pps problem?
If they have a wet well, what then
what if they have something intermediate-enough to pay for this well-thus the next well since this well is paid for- but not yet the reservoir yet hoped for
havent had much time to think since last post since had other responsiblities today
part of the reason for my last post is I’ve seen so many fall away, including on the stock boards bc of their frustrations-, so guard your heart, which is the well spring of life.
Donald Ellis is zions only form 13 filer so far with 5.67% of the voting stock
https://www.otcmarkets.com/filing/html?id=15514514&guid=fS6wkWQsdk7-B3h
there are several time deadlines for form 13 depending on a persons status-- i have higlighted those deadlines in the article below
https://www.investopedia.com/terms/s/schedule13g.asp
idont have any special insigt into form 13's i usually let others handle that - doesnt tothe do that - but he hasnt posted since december
since donald ellis is just above 5% i previously metioned i wonderd if he rose above 5% by accident or on purpose - somebody who plans on a challenge usually wants to remain hidden as long as possible- used to be an attempted takeover would not begin til somebody owned or controlled in the low 30% range of the stock but i dont know nowadays
Laws & Regulations SEC
Schedule 13G
By James Chen
Updated December 31, 2021
Reviewed by Julius Mansa
Fact checked by Katrina Munichiello
What Is Schedule 13G?
The Securities and Exchange Commission (SEC) Schedule 13G form is an alternative filing for the Schedule 13D form and is used to report a party's ownership of stock which exceeds 5% of a company's total stock issue. Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements. Schedule 13G can be filed in lieu of the SEC Schedule 13D form as long as the filer meets one of several exemptions.1?
Both Schedule 13D and Schedule 13G forms are referred to as "beneficial ownership reports." According to the SEC, a beneficial owner is anyone directly or indirectly shares voting power or investment power. These forms are intended to provide information about individuals who have significant holdings in publicly-traded companies and thus, allow for other investors and other interested parties to make informed decisions about their own investments. The ownership of over 5% of a publicly-traded stock is considered significant ownership and reporting this to the public is a requirement.2?
Key Takeaways
Securities and Exchange Commission (SEC) Schedule 13G form is used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.3?
Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
Schedule 13G can be filed in lieu of the SEC Schedule 13D form as long as the filer meets one of several exemptions.
Investors and any other interested parties can view the Schedule 13G forms of any publicly-traded company through the SEC's EDGAR system.
Understanding Schedule 13G
There are several exemptions that permit a filer to file form Schedule 13G instead of Schedule 13D. Institutional investors can file a Schedule 13G if they acquired securities while doing normal business and they have no intention of influencing control of the issuer. Individuals who are not institutional investors can file a Schedule 13G if they have not acquired the security with the intent of influencing control over the issuer and are not directly or indirectly the beneficial owner of 20% or more of the security. Under Section 13(d)(6)(A) or (B) of the Securities Exchange Act of 1934, there are additional exemptions for investors. An investor may also be exempt if their beneficial ownership was acquired before December 22, 1970.4?
Schedule 13G
There are several filing deadlines for Schedule 13G. For institutional investors, they are required to file within 45 days of the end of the year in which they finish above 5%, or within 10 days of first finishing a month above 10% if the initial filing has not yet been completed. Passive investors are required to file within 10 days of acquiring 5% or more of a security.5? Finally, exempt investors (as defined by Section 13(d)(6)(A) or (B) of the Securities Exchange Act of 1934) must file within 45 days of the end of the year in which they become obligated to file.4?
Any changes to the information contained in a Schedule 13G form must be amended through additional reporting. Institutional investors are required to file an amendment to report any changes within 45 days of the end of the year or within 10 days of first finishing a month above 10% and then within 10 days of any month-end where the holder's ownership increases or decreases by 5% or more. Passive investors have similar requirements for reporting amendments.6?
The SEC can impose fines on individuals and/or companies for improperly filing Schedule 13G forms or failing to file them. Individuals can be cited if they fail to promptly report information about their holdings and transactions, and companies can be fined if they do not report that their employees have not properly filed any required forms. Even if it is inadvertent, the failure to timely file a required beneficial ownership report is a violation of the requirements set out under Sections 13(d), 13(g) and 16(a) of the Securities Exchange Act of 1934.
It is very important that fund managers and other investors are aware of their internal control policies and procedures. In order to settle improper filing claims with the SEC, individual investors have been forced to pay upwards of $150,000 in financial penalties.7? The SEC makes an effort to police these sorts of violations because these forms are intended to protect the public, keeping them aware of the trading activity of insiders and ultimately, preventing insider trading and other acts of stock manipulation.
as you already know, we arent looking at mj02 failure yet -as kyoils recent post 47631 indicates
https://www.voanews.com/a/israel-government-facing-crisis-as-lawmaker-leaves-coalition/6518057.html
the switch due to a right wing government as called for by the current Bennetts governments defector has been prophesied in detail for months -the specific reason detailed by the article does not touch what is really going on
https://www.voanews.com/a/israel-government-facing-crisis-as-lawmaker-leaves-coalition/6518057.html
but if an oil friendly govt returned to Israel that would make it easier for Zion to get another extension-even though extensions have run out- on legal principles of reliance, substantial completion and force majuere- though evangelicals sometimes are opposed to using the courts to solve a problem
there were a total of over 1 yr of delays due to covid imo- the purchased rig as well as romanian rig crew had to wait for at least several months while national borders were quarantined, and then quarantine inside israel and custom delays -plus other covid related delays -including supply interruptions which continue e.g osb which was under 10 dollars prior to covid has been up to
62 dollars
some basic bldg supply materials have been gone for over a year even though they are still being maufactured
this may be enough for a friendly govt to extend the license -dont know if a 3rd well from the wellpad could be drilled in that time
but if this well fails they will have to restructure -they cant keep financing at this pps forever let alone the pps if this well fails- so they may be forced - IF this well fails - to r/s 10 fold as Ryan mentioned- a 10c pps would be required just to meet zn's min bid price on the OTCQX - which has a min bid price of 10c, possibly 25c - 6 month leeway or so built in for current OTCQX members
even at a pps of 5c thats close to a 10 million public share buyout via a tender offer to go private as one of the options, as tisdal mentioned
https://investorshub.advfn.com/uimage/uploads/2022/4/9/igsdgunnamed_zn_wellhead_BOP.jpg[img][img]">https://investorshub.advfn.com/uimage/uploads/2022/4/9/igsdgunnamed_zn_wellhead_BOP.jpg[img][img]" />
https://investorshub.advfn.com/uimage/uploads/2022/4/9/igsdgunnamed_zn_wellhead_BOP.jpg
this is the pic of the bop on the well in the Apr 7 update -haventposted apic for a while - 14 steps as i remember - so playing with it
i dont remember who posed the query re the recent email meetings but ZN has posted that they answer to ca 24 israeli ministries-presumably the recent meetings were set some time ago - but they may find greater favor going forward since a major member of the ruling liberal israeli coalition resigned which may lead to another conservative govt - the two parties were 61-60 in the 121 member knesset and are now tied
i dont have private reply privileges here so cant answer your 3-26 inquiry but you can google search me to find me elsewhere in connection w ZNOG board
I generally agree- thats why i talk about the ridiculously low pps and the reasons for such despite ZN having so many firsts it did not have before such as:
its own rig for the 1st time
deeper hole with insight from MJ01
1st directional well-deeper and w bigger pipe than mj01
1st 3d -largest terrestrial 3d in Israel
2 crews including 1st native trained crew
etc
i have never seen such a witness as CEO Guinns(sp?) at the stockholder meeting a few years ago or by a company in general
so for me its partly trust in His word
that even if Mr Brown didnt hear correctly over and over and over a thousand times-still theres a courageous public witness in line w His word.
and in my experience the reaping doesnt come until almost everybody has given up-in my experience in fighting national etc battles until everybody but myself had given up
i have not personally been told -and i dont need to be- but one of the derivative suits against B/D was i believe from a stockholder who had -prior to giving up on the waiting game- publicly said He told him it was a gargantuan field
as far as me having good points -well, accidents happen-and i appreciate the good points of others here -i dont usually note it bc i dont want to be accused of frivolous posts
you had such a massive amount of good points in the post of yours i posted to the stickies that i guess i would have to combine your new price post w the sticky post of yours when i can unless another long mod beats me to it -i'm not sure all long mods are aware they are entitled to post one post to the stickies
good to see you posting on the board-I still have your oil/revenue estimates etc posted in the stickies- i dont post as often either- takes too much time, often at the end of a 24 hr day
i infer dissatisfaction w investor relations w whom i dont bother - they are between a rock and a hard place-many stockholders long or short are looking for unpublished info which IR is forbidden by company policy and sec etc law from giving- you already know this but some might not- if they give out material unpublished info one CEO told me the company has to PR within 24 hours
big money doesnt usually buy a stock at this low pps so that would be a major benefit at this point of a r/s - though a commercial discovery would probably void the need- i dont expect a r/s apart from processing such at a stockholder meeting if commerciality is not proven by that time
I presume the pipeline shown on your posted map from the haifa refinery area to afula -which is not far from ZNOG's concession- is a gas pipeline distributing gas from the offshore tamar gas fields -and presumably one way at that
the well is of course a few miles south of beit shean
the cite below is just for reference to the interactive map
https://www.nbn.org.il/community-guide/
summary judgment means the judge has determined that no reasonable person could find the defendant guilty of the charges
it would be difficult for the sec to find any intent when judges dismissed all the lawsuits-
and without intent all you have is negligence-which is civil infraction- if all companies received the level of scrutiny ZN has since 2018 many of them might not have dotted all the i's or crossed all the t's- most such examples are not actionable absent a political intent from the prosecutor
this june will be 4 years since the announcement of the formal inquiry- i would think we would have heard something by now if sec had found something actionable
as I noted recently:
all the RESULTING lawsuits against ZN were dismissed by judges- the majority as essentially a summary judgment- which means no reasonable person could find ZN guilty of the things charged-
so its hard to see how the sec could eventually find 180 degrees different-
its not sec policy to announce the end of an investigation even when judges dismiss all charges -its almost 4 years since the formal inquiry began- if there was something serious we should have heard something by now -sec cant prove intent so only charge would be a civil infraction/fine if anything - but pps acts as if they are destroyed!!!??
these are the bylaw changes approved Feb 14
ZN -now ZNOG- has been incorporated since ca 2000 AD
after all this time to make some of these changes indicates to me they were carefully preparing for either an exuberantly rowdy meeting process- which the usual characters would try to interrupt
or preparing for another MJ01 conclusion re commercial oil- just to cover the bases
pps is so low that if they had the same conclusion as the wildcat well MJ01 the bylaw changes would help forestall negative meeting activities- e.g., only those who held 20% of the stock could bring certain business at the meeting(s)
Well, nobody has 20% of the stock -only one person Donald Ellis- has filed the requisite form required for those who have 5% of the stock -and Donald was just over that amount- was that by accident or on purpose?
and might require a r/s - such a low pps discourages many serious investors just by its nature-an errant signal re the value or possible value of the company going forward- given the possible value if they discover a commercial field the pps is ridiculously low
and remember the pps is so low partly bc the dspp program severely hurts the buy sell ratio with much buying diverted to the dspp program- so the need for the dspp direct infusion of cash to the company is a powerful force of downward pressure on market pps in a vicious cycle
so far they have resisted what presumably most companies would have already done in such a situation -r/s to ease the process of fundraising and attract in general bigger investors
if they find commercial oil the pps should take care of itself-
https://www.otcmarkets.com/filing/html?id=15578438&guid=ky6wkH4MwJ7OB3h
as others have noted, well said- its good to have an oil man here- btw how long does it take to recertify a drill rig in Israel- not in Texas?
as you have understood preparations are being made for the final steps-the final steps have not been executed yet
just for others benefit they have made the contracts-contracted for
completing the well, along with enhancement and reservoir testing
but those things had not been done yet or possibly even started for the most part as of Feb 16
February 16, 2022
Update: MJ02 In Israel
Dear Zion Supporters and Shareholders,
2022 has kicked off to a fast and exciting start for Zion and its operations team as we prepare to continue developing and testing the MJ-02 well.
We are pleased to announce that all necessary services for completing the well, along with enhancement and reservoir testing, have been secured.
Zion has partnered with some of the leading Petro physicists and stimulation experts in the United States to plan the next phase of the operation.
As Zion continues to navigate manufacturing and logistical delays, the plan is to resume operations in quarter one.
These operations will start with necessary re-certifications and inspection of the rig while also upgrading critical systems that will benefit this operation and allow for enhanced drilling operations in the future.
Upon completing the inspections, upgrades, and rigging up, the crew will complete the final casing and tubular run before moving on to the enhancement and reservoir testing phase.
remember ca feb 2018 when they announced oil in the drilling mud
at least 2 things happened- pps doubled in 1 or 2 days -and later after a specialized group complaint filed w sec sec began an investigation resulting in the long term crash of pps
so they do have to be careful what they say
many mistakingly mistook the oil in drilling mud as an announcement of a commercial discovery
and many mistook the sec's announcement also
btw all the RESULTING lawsuits against ZN were dismissed by judges- the majority as essentially a summary judgment- which means no reasonable person could find ZN guilty of the things charged- so its hard to see how the sec could eventually find 180 degrees different-
its not sec policy to announce the end of an investigation even when judges dismiss all charges -its almost 4 years since the formal inquiry began- if there was something serious we should have heard something by now -sec cant prove intent so only charge would be a civil infraction/fine if anything - but pps acts as if they are destroyed!!!??
so they do have to be careful - a politically correct society wants to destroy them
so this is some of the things they are doing while ppl think they are on vacation- there is always far more to do than ppl recognize and only 24 hrs in a day
when i was president/exec director of a company there were only a few ppl who actually did the work - i took my fiduciary responsibilities seriously and thus gave a proper summary at each board meeting-sometimes board members said board meetings were too long - they didnt care what happened or know what new things were happening unless they volunteered to be involved as long as they got their milk and cookies- i dont see that happening w ZN based on their podcasts and PR's etc
I also see some of the revisions to the by laws preparing for the usual june stockholder meetings- those new provisions giving them the flexibility to deal w such meetings whether they have a commerical discovery or bust by then
https://www.zionoil.com/updates/zion-oil-gas-operations-update-from-israel-as-of-february-16-2022/
February 16, 2022
Update: MJ02 In Israel
Dear Zion Supporters and Shareholders,
2022 has kicked off to a fast and exciting start for Zion and its operations team as we prepare to continue developing and testing the MJ-02 well.
We are pleased to announce that all necessary services for completing the well, along with enhancement and reservoir testing, have been secured.
Zion has partnered with some of the leading Petro physicists and stimulation experts in the United States to plan the next phase of the operation.
As Zion continues to navigate manufacturing and logistical delays, the plan is to resume operations in quarter one.
These operations will start with necessary re-certifications and inspection of the rig while also upgrading critical systems that will benefit this operation and allow for enhanced drilling operations in the future.
Upon completing the inspections, upgrades, and rigging up, the crew will complete the final casing and tubular run before moving on to the enhancement and reservoir testing phase.
We continually give thanks to God and our loyal shareholders and supporters who make all this possible.
We will continue to provide material updates when we have relevant information to share with the public.
Sincerely,
Rob Dunn
CEO
i have not seen any announcement - the form 4 time is over -such forms are usually done when board has no current info unkwown to shareholders except for IP like 3d results
b/d really loaded up on options this year so that may mean 3d results look good
except for exceptions under the disclosure rules - if zn tells somebody something that doesnt fit the exception they have to PR ca within 24 hours i'm told
i think it took longer to determine pilot wildcat well was not commercial- ZNOG did not have their own drill then- they do now but since the last PR 11-23-21 they've had to recertify the drill -which may take another month alone- the oil guys here would know more about that- there s usually a lot of activity -sourcing finding obtaining products in a disrupted supply chain world for the next steps as mentioned in last PR
and wildcat well was only 3.5 inch pipe at bottom -here 6 inch pipe
Hey Sunny and guys- I stopped posting here because at some point in the past this board was removed when I checked it
and shorting cartels brag about how rare it is for a sticker to come back from the grave - so i dont know what renee's ca jan 1 post means- i cant find cwrn on that list
good to see some ppl are still alive- CWRN was the biggest adventure of my stock board life
looks like CWRN is still in the symbol directory-had we been removed from that? cant remember
https://otce.finra.org/otce/symbol-directory
otherwise i dont see anything new - listed as grey market and skull and bones [Brad never supplied any info to the agencies to my knowledge] - so CWRN's exchange - the otc board-has not received the message if there's been a change
https://www.otcmarkets.com/stock/CWRN/overview
is this stock actually trading on the non-liquid grey market? - no quotes on grey market so would have to blindly set an order
ever since the pre-2000 penny stock wild west days the regulatory and semi-regulatory agencies and otcmarkets.com have been tightening the rules
CWRN under Bob had been limited info otc class but before Bob sold dropped to no-info otc class
as of Sept 28 2021 ,as per the newly amended SEC rule 15c211, the no info class has been eliminated as has essentially the limited info class- this caused something like 3600 companies to be dropped from public quotes and relegated to the grey market-where CWRN still sits- now a co has to be current info to be listed on otc board and essentially traded -i.e., not on grey market
I have not communicated with Bob in years because nobody responded to my queries re anything to ask him
Bob is in his mid?70's now - he was pursuing much much larger claims with potentially much more recoverable ore- and to my knowledge none of those received the investment capital he needed to develop-despite his continued meetings w Mr Zhao-and now that Chinese company has a big mine in Brazil- thus less need for Bobs services
Bob is under no compunction to avoid public co's now - so he could run a public company again- but given his experiences i dont know why he would- all good guys are targeted by this crazy world- and thus he was raked over the coals
mining is such a difficult startup that some really 'A' personality entrepreneurs try it at the end of their experienced careers just to see if they can do it - its easier to haul illegal waste and even those haulers need to be certified now (semi- joke)
there were several legal battles/cases between Bob and Brad -with the Mexican legal system moving at a snails pace-even a judge in one of the cases disappearing- dont know the present status or conclusion of such cases and not easy to look up Mexican cases- for me anyway
Good find-I dont remember anybody looking up that question before
The 11-23 PR cited below does give a good idea of what they are doing right now-and given that I dont know if theres anything major to report yet
they do tend to file form 4's during periods of radio silence-usually not too long after a PR-so it's more difficult for people to claim they are utilizing inside knowledge at such times
https://www.otcmarkets.com/stock/ZNOG/news/Zion-Oil--Gas-Completes-Drilling-Phase-of-the-Megiddo-Jezreel-2-MJ-02-Well-in-Israel?id=332442
i've read articles re why Erdogan has recently been making conciliatory gestures(contrary to his usual expressions) towards Israel-
other than his heart condition being treated by an Israeli doctor, Erdogan wants Israel to join Turkey in an alternative pipeline which would feed gas directly to the EU
of course Turkey invaded sometime ago and occupies portions of Greeces Cyprus island and Turkey has longstanding territorial claims on some other islands owned by Greece
so Erdogan-Turkeys PM etc- has multiple reasons for a pipeline which wold cut Greece out of a Greece Israel EU pipeline deal
are you asking why ZNOG received another license extension
see post 44184
soon thereafter CEO Dunn issued notice of extension of the license https://www.otcmarkets.com/filing/html?id=15390939&guid=JajwknslwPLaKch
i suspect legal principles of force majeure may have been part of the calculation- as well as principles of reliance etc as ZNOG diligently spent large sums moving drilling etc forward as per previous extensions of the license
just getting equipment in a world of supply shortages partially caused by covid is difficult-thus again lending itself to a force majeure argument
getting ordinary building and household appliances is difficult enough let alone specialized transactions across national borders
the well pad is only ca 4 miles from the jordan river which follows part of the great rift which continues in the same direction in africa
so it make sense for these earthquakes to be close to the fault line
what is the meaning of dtc supposedly increasing shares- dtc probably claims to own all usa stock by fiat- in a very long dark trail-and more ownership than the outstanding?-oh well they've probably claim ownership of the universe as well before it existed!
where is the proof of insiders unloading shares? -there have been no such filings
Since the 8.01 event below there have been four filings re registration statements and now 10 form 4's granting officers and directors options at a strike pps of .15- such almost guarantees a sliding pps drop soon after the pps rise due to the 8.01 event
this is imo because the market is very shortsighted- not looking 9 months down the road as the market is theoretically suppose to do
rather the market -at least many otc companies (which ZN now is -being on the top tier of the otc- the OTCQX) is controlled by various mutant groups-whose purpose is to make a quick killing by siphoning off the pps-
all at the expense of retail longs
the upside is our observations of the above mentioned filings-which indicate ZNOG is settling in for the long haul- testing followed by presumed infrastructure build out subsequent to testing confirmation of a discovery
the 10 form four forms filed by peter piper are filed at ca the lowest pps we've seen- which hopefully means ZNOG expects pps to rise long term from here- no guarantees -very few guarantees anywhere in this scamming get rich quick world
on the positive side there are no known officer/director abandon ship defections-all are presenting a unified long haul picture to my knowledge- which at least means the 3d etc info available to them allows for a significant discovery (doesnt guarantee)
the mutant scammers are still prevailing over long term logic, as is common to most of the otc world and even a good portion of the non-otc world -where the market runs on big boys insider knowledge hft etc- all at the expense of retail longs-without which the market could not run!!!
https://www.otcmarkets.com/stock/ZNOG/disclosure
Item 8.01 Other Events.
Zion Oil and Gas, Inc., a Delaware corporation, which has an active petroleum exploration license onshore Israel on their 99,000-acre Megiddo-Jezreel license area, has been granted an extension of its “New Megiddo”/428 License.
On November 29, 2021, the Ministry of Energy in Israel granted Zion Oil & Gas an extension of the “New Megiddo”/428 License until August 1, 2022 for the purpose of completing the activities regarding its MJ-02 drilling and testing.
P21 10q RECEIVED 11-10-21 period ending sept 30
On March 13, 2014 Zion filed a registration statement on Form S-3 that is part of a replacement registration statement that was filed with the SEC using a “shelf” registration process. The registration statement was declared effective by the SEC on March 31, 2014. On February 23, 2017, the Company filed a Form S-3 with the SEC (Registration No. 333-216191) as a replacement for the Form S-3 (Registration No. 333-193336), for which the three-year period ended March 31, 2017, along with the base Prospectus and Supplemental Prospectus. The Form S-3, as amended, and the new base Prospectus became effective on March 10, 2017, along with the Prospectus Supplement that was filed and became effective on March 10, 2017. The Prospectus Supplement under Registration No. 333-216191 describes the terms of the DSPP and replaces the prior Prospectus Supplement, as amended, under the prior Registration No. 333-193336.
As inferred here registration statements are best kept current to within 3 years
ZNOG is being careful to cover all the bases legally to avoid future lawsuits
due to the legal excitements since the Feb 2018 PR re oil in the drilling mud -which caused pps to skyrocket to ca 5.50 in a couple days -followed by SEC investigation and stockholder suits, ZNOG is logically being careful about what they say to avoid a repeat
there arf3e no sits extant now and nothng has been heard from the SEC-been almost 3.5 years since the investigation was made public-so I doubt anything significant will occur re the investigation-especially since several judges dismissed lawsuits as having no reasonable probability of culpability on ZNOG which may very well be over- its not SEC policy to announce end of investigations even if a judge dismisses all charges-prosecutors tend to believe everybody is guilty and dont like to admit mistakes
p25 said 10Q
On December 9, 2019 Zion filed an Amendment No. 1 to the Registration Statement on Form S-1 (File No. 333-235299) solely for the purpose of re-filing a revised Exhibit 5.1 to the Registration Statement. This Amendment No. 1 does not modify any provision of the prospectus that forms a part of the Registration Statement and accordingly, such prospectus has not been included herein.
For the three and nine months ended September 30, 2021, approximately $4,369,000, and $18,157,000 were raised under the DSPP program, respectively.
For the three and nine months ended September 30, 2020, approximately $13,015,000, and $25,517,000 were raised under the DSPP program, respectively.
The company raised approximately $4,378,000 from the period October 1, 2021 through November 10, 2021, under the DSPP program."
The company is currently operating net debt free having ca 9M current assets to ca 4.6M current liabilities as of Sept 30
again onp.35 of 10Q "Note 9 - Subsequent Events (i)Approximately $4,378,000 was collected through the Company’s DSPP program during the period October 1, through November 10, 2021.
as somebody noted well pad is ca 3mi N of "west bank" and ca 3 mi W of Jordan River
I remember reading somewhere that ZNOG said the exploration may continue to the western portions of the license area- which makes sense if the areas of interest are a continuation of the palymrya(spelling?) zone in Syria to N and the Meded(sp?) wells to the S -maybe this on p6 of Dec 1 reg/prospectus https://www.otcmarkets.com/filing/html?id=15395097&guid=nrxwkWPupYxEdth
isnt the 18141 ft depth commensurate w the original expectations?
https://www.otcmarkets.com/stock/ZNOG/news/Zion-Oil--Gas-Completes-Drilling-Phase-of-the-Megiddo-Jezreel-2-MJ-02-Well-in-Israel?id=332442
a little puzzled as well-
As of September 30, 2021, and December 31, 2020, the Company accrued $0 for license regulatory matters. p34
Note 9 - Subsequent Events
(i) Approximately $4,378,000 was collected through the Company’s DSPP program during the period October 1, through November 10, 2021.
wow!!!--- at these low pps ppl are buying by the truckload largely speculatively bc if they find commercial oil pps should rise substantially
p36 they still dont know ? the outcome of the current SEC investigation against us;
p 38 The MJ-02 drilling plan was approved by the Ministry of Energy on July 29, 2020. On January 6, 2021, Zion officially spudded its MJ-02 exploratory well. Zion plans to reach a total depth of approximately 5,600 meters (~18,368 feet). Zion recently announced the successful casing and cementing operations in a key section of the well. The company continues making solid progress in the drilling of the MJ-02 well as it moves closer to geological targets.
On April 29, 2021, Zion submitted a request to the Ministry of Energy for a six-month extension to December 2, 2021. On May 30, 2021, the Ministry of Energy approved our request for extension to December 2, 2021.
The NML 428 lies onshore, south and west of the Sea of Galilee and we continue our exploration focus here as it appears to possess the key geologic ingredients of an active petroleum system with significant exploration potential.
not one word about extending the license- negotiations w Israeli ministries???
p39 Zion has completed all of the acquisition, processing and interpretation of the 3-D data and incorporated its expanded knowledge base into the drilling of our current MJ-02 exploratory well (see further details below).
The Geology team is continuing to work on a larger interpretation of 3D areas, along with potential exploration locations located in the western portion of the NML 428 area.
p40 Zion plans to reach a total depth of approximately 5,600 meters (~18,368 feet). Zion recently announced the successful casing and cementing operations in a key section of the well. The company continues making solid progress in the drilling of the MJ-02 well as it moves closer to geological targets.
p43
For the three and nine months ended September 30, 2021, approximately $4,369,000 and $18,157,000 were raised under the DSPP program.
For the three and nine months ended September 30, 2020, approximately $13,015,000, and $25,517,000 were raised under the DSPP program.
According to the warrant table, the Company could potentially raise up to approximately $16,408,000 if all outstanding warrants were exercised by its holders.
large amounts of warrants -which also act to hold pps down if discovery made as ppl opportunistically liquidate their warrants for an immediate money making opportunity
p44 The Impact of COVID-19
During March 2020, a global pandemic was declared by the World Health Organization related to the rapidly growing outbreak of a novel strain of coronavirus (“COVID-19”). The pandemic has significantly impacted the economic conditions in the United States and Israel, as federal, state and local governments react to the public health crisis, creating significant uncertainties in the United States, Israel and world economies. In the interest of public health and safety, jurisdictions (international, national, state and local) where we have operations, restricted travel and required work forces to work from home. As of the date of this report, many of our employees are working from home, at least on a part-time basis. However, while there are various uncertainties to navigate, the Company’s business activities are continuing. The situation is rapidly changing and additional impacts to the business may arise that we are not aware of currently. We cannot predict whether, when or the manner in which the conditions surrounding COVID-19 will change including the timing of lifting any restrictions or work from home arrangements.
The full extent of COVID-19’s impact on our operations and financial performance depends on future developments that are uncertain and unpredictable, including the duration and spread of the pandemic, its impact on capital and financial markets and any new information that may emerge concerning the severity of the virus, its spread to other regions as well as the actions taken to contain it, among others.
no language re force majeure
so my reading of just a few minutes gives impression of negotiations to extend license which are of a confidential nature -and thus are not required to be reported- my first impression anyway bc they repeatedly use language re moving forward in the same area,which cannot be done without a license extension- they have force majeure very valid arguments due to delays beyond their control
but give no indication of such-only reason i can think of is what i just stated -confidential negotiation w israeli govt ministries to extend based on substantial performance and or delays beyond their control-changing govt requirements during the last few years are part of those delays- but of course its not diplomatic to explicitly say so during any confidential negotiations of which i have no proof or inside knowledge of any kind
gives impression not currently drilling but extrapolating more info from study of 3d
if no attempt to extend license would have to say so imo
if successfully extended license or even applied to do so would have to say so imo -unless confidential negotiations
so thats my initial take based on previous ZN 10q's etc
as you've pointed out ZNOG is not a new license at all
a new license would mean a territory not licensed before
note- prior to the last 10q they also had a spate of form 4's - so this is NOT atypical - nothing to indicate the sky is falling
during periods of form 4's such as the last month or so presumably they have no material information not shared w stockholders-
https://www.otcmarkets.com/stock/ZNOG/disclosure
last 10Q 9M plus cash - burn rate ca 2.5M/month while actively drilling -raised 550k from July 1 to Aug 7
despite good relations w Israel-why not -their entire purpose is to bless Israel (and stockholders through Gen 12:3) by giving them oil independence -
they need to show substantial compliance TOWARDS a commercial discovery by Dec 3- UNLESS they employ force majeure-arguing substantial delays due to covid restrictions by the government etc beyond their control-and that would be a very very valid argument-something I'm sure they wish to avoid
so DESPITE numerous delays they've been going whole hog- to use a probable texas expression
they added 4.7M director officer options this year through June 30 -more than doubling options -less than 4M options at Jan1, 2021
which probably signifies a 'do or die' 'either we believe or we dont' philosophy-a united front by the directors- now if many directors were selling instead that would very possibly make a statement of non shared negative material information- but the form 4 history is showing the opposite of that
many of these directors and officers have invested decades of their life in ZNOG- the exercise of options is a normal corporate event with options commonly used as a part of a directors salary- options thus are regularly used to conserve cash to the organization/company
such a spate of form 4's indicates to me they dont have material information not shared with stock holders
information is not limited to dry secular information that can be reported on an accounting forms - after investing so much of their life they either believe they will be successful before analysis confirms such belief or they are simply gambling based on such belief or a combination of the two-
it certainly does not mean they have dry secular information - i have degrees in accounting economics and law -all examples of dry secular information but also degrees in philosophy etc which go beyond such dry secular information -which information is just as pertinent to philosophers etc as the 'dry' sciences and often confirmed later by the dry sciences
I can understand why those who invest on purely a worldly basis would withdraw- but the pps is so low that isnt really an option in my view
the next 10Q is due Nov 15 covering the period from June 30 to Sept 30
i havent done the calculations bc I've been so busy -I'd have to reread many communications to calculate where they should be now in feet drilled vs their expected feet to drill
I also have not researched their time pattern of communications in the 2-3 weeks before issuing a 10Q but they usually issue a 10Q ca 1 week before its due -
each 10Q is like giving birth so such 10Q formulation in the weeks before issuance may preoccupy them-why release material information just days before a 10q or 10k
in the sciences there is often a lack of communication from one science specialty to the next and new information discovered by individual sciences may not arise to the level of material information until it is compiled with discoveries from other science branches
the same could be said for 10Q's etc- even ppl working on one section of monstrous 10Q's etc may not have the full meaning or understanding of what they are reporting until they themselves can read the full report
such considerations inveigh against a PR just days or even weeks before release of a 10q etc
agree- in the oil industry geological analysis can take much longer than the actual stage of drilling if you are in an unusual area like onshore Israel where ZNOG is pioneering many things re onshore Israeli drilling
not exactly one of the huge texas oil fields where info from possibly thousands of other wells is available
its well known 3d analysis etc takes a long time - computers didnt use to even have the capability to do such analysis over a decent area
and if somebody reports an intermediate event such as the feb 2018 reporting of oil in the drilling mud in the pilot well- if the final report months later doesnt indicate a commercial well, then ZNOG is attacked from many directions
so they are damned if they do and damned if they dont report intermediate events - they've obviously been through that cycle the last 3 years which is obviously one of the reasons they are more careful now
has anybody heard of supply system restrictions and the delays due to covid???? - those delays are abundant around the world in what is a global economy
thats why the Fed keeps referencing these things to argue inflation in certain sectors is temporary due to such shortages
there is at least a two week-maybe much longer container ship delay outside of long beach /LA ports- one reason why some say Christmas will be canceled because of supply shortages and one of the reasons the usa admin is pressuring certain segments to work 24/7 to deal w such delays
just look up refrigerators at best buy for example-over 90% of models are unavailable or backordered - those are common domestic appliances
nothing about onshore Israel oil exploration is common-ZNOG has reported many of such delays-beginning for example with substantial delays including the cross border transport of the drilling equipment and drilling crews before they could even begin to train an indigenous Israeli drilling crew points for ZNOG
Also they had to deal w a running gauntlet of changes in oil exploration etc rules in dealing with at least 24 different Israeli ministries
their whole purpose is to help Israel obtain oil independence- something Israel governmental departments are aware of
all of these things give ZNOG favor w governmental departments
they have had a net accumulation of years of delays due to covid etc
all of this gives them a very very valid argument for extension of the license due to such delays beyond their control under principals of law such as force majeure
https://www.contractstandards.com › public › clauses › force-majeure
Force Majeure. A party will not be liable for any failure of or delay in the performance of this agreement for the period that such failure or delay is. beyond the reasonable control of a party, materially affects the performance of any of its obligations under this agreement, and. could not reasonably have been foreseen or provided against...
we see governmental defacto enforcement on a broad basis of this principal in fact when the government requires landlords to cease and desist any legal action against renters etc for lengthy periods of nonpayment of rent during the covid disruptions,even though many of those renters were not personally adversely affected by covid disruptions
as I've already said, tHE iSRAELI ANNOUNCEMENT DOES NOT APPLY TO current LICENSE HOLDERS
tHE iSRAELI ANNOUNCEMENT PERTAINS TO NEW LICENSE APPLICATIONS FOR LANDS NOT ALREADY LICENSED ONSHORE iSRAEL
thats why the news article talks about a license in southern israel
they cant change laws midstream without exposing themselves
they cant change property rights without being overthrown quicker than they will be overthrown
tHE iSRAELI ANNOUNCEMENT DOES NOT APPLY TO current LICENSE HOLDERS
tHE iSRAELI ANNOUNCEMENT PERTAINS TO NEW LICENSE APPLICATIONS FOR LANDS NOT ALREADY LICENSED ONSHORE iSRAEL
they cant change laws midstream without exposing themselves
they cant change property rights without being overthrown quicker than they will be overthrown
didnt have time to read a 1000 posts
besides i thought you were aware of the green new deal announcement in israel- why didnt you read that post or my other posts -if you had you would be aware of the significance of my post to ZNOG relative to that announcement
apparently you didnt read the following below:
this is for NEW licenses- as in new territories
they cant stop licenses for CURRENT licensees- that would violate basic principals of law
also-the ministry-under basic principals of law- can choose to extend licenses for CURRENT licensees-e.g under principals of substantial completion and principals of reliance etc -force majeur such as in delays such as covid that are outside of a companies control-which also includes delays by the govt due to covid or other reasons
also - the announcement is clearly a highly partisan announcement not based on science- similar to the small usa new green deal party
there is information in the public domain that the Israeli party making the announcement will not remain in control for very long- given the recent political uncertainties there such information may have extra credence
first there is the communication issue- wasnt sure if ppl were aware of the aug 23 communication by ZNOG
2nd-if the Israeli party responsible for the no new territorial oil licenses [for new territories] were aware of this and where they get their freedom of country and speech,they would not be in power -and probably wont be for long- and thus would not be making such policy- which should not apply to current licensees as per applicable rules of law anyway-and since you didnt point this out i felt the responsibility to do so
-this is the first i've heard of this since I've been too busy to keep up w this board on a daily basis-
this is for NEW licenses- as in new territories
they cant stop licenses for CURRENT licensees- that would violate basic principals of law
also-the ministry-under basic principals of law- can choose to extend licenses for CURRENT licensees-e.g under principals of substantial completion and principals of reliance etc -force majeur such as in delays such as covid that are outside of a companies control-which also includes delays by the govt due to covid or other reasons
also - the announcement is clearly a highly partisan anouncement not based on science- similar to the small usa new green deal party
there is information in the public domain that the israel party making the announcement will not remain in control for very long- given the recent political uncertainties there such information may have extra credence
a brief summary of the 10q
Current ratios and long term ratios continue to be excellent- of course there is no oil or gas revenue yet
Current Assets of ca 13M vs CL of ca 4.529M
32M unproved capitalization of oil and gas costs full cost method -if MJ2 well-current well- is not commercial there would be a large impairment cost to such as there was a large such impairment of ca 30M on MJ1 well
7.35M property and equip
53M plus total assets subject to impairment noted above if not commercially successful
5.26M total liabilities
as of Aug 10 284,387,479 common stock times end of day pps of .3048 equals 86,681,303 M ZNOG market value
net loss 6.616M for 6 months ended June 30 but 15M used in investing activities for a burn rate of 2.5M/month while drilling-as they have long advertised
convertible bond principle pd in 3.214M shares plus interest on such pd in shares(latter as usual) so total of ca 6M shares used to pay off this liability w no cost to the company to get that liability and derivative headache off the books as of May
have to water down my answer for this venue
unfortunately its been difficult to find much logic in the market
ZNOG has more experience than ever before; its own rig costing ca 4.6m for the first time, their own trained crew for the 1st time; a 3d survey -the largest terrestrial 3d in israel- and yet the lowest pps in its history ever since the SEC inquiry was reported june of 2018
the following timeline chart does not always retain the captured timeline once posted for some unknown reason but shows pps of $7 back in 2008 etc
https://www.otcmarkets.com/stock/ZNOG/overview
ca june 2 years ago (or just one year ago?) they rapidly accelerated things- they've been under the gun with this being the last reported available extension on this license
perhaps thats a method to ensure the chaff does not share in the eventual prosperity of a commercial discovery
used to be when we were an agricultural nation-before ww2-ppl were used to working sunup to sundown- the adversary worked hard to execute the unprecedented changes we've seen since ww2- now the goal is instant gratification-as in the lottery
they didnt say anything about a 30 year lease in the 10q -they may have before- depending on a commercial discovery - but a 30 to 50 yr lease-renewable for another 50 years- is typical in free market nations-otherwise oil co's wouldnt make the major investments necessary to develop
Dec 2 is only ca 3.5 months away so we should find out where this journey is going before too long- directors all? loaded up on options before reaching the 3d areas of interest-we dont know what they they see on the 3d-logically its good bc of all the activity since then PLUS theres always the incalculable value of directors teleology- as in how can we fail after all this herculean effort since 2000 and even before
they are drilling at a rapid pace- should soon drill into the areas of interest resulting from the 3d survey
nobody can say for sure bc sec policy is to remains silent and not give a clean bill of health
when sec quietly drops an investigation(the mo) -leaving ppl hanging/waiting-but if normal timelines prevail the sec inquiry should be over- there is no criminal intent-something difficult for even highly secular prosecutors to conjure -so imo the SEC investigation has had an outsized unfair impact on pps ever since
the determined efforts to destroy ZNOG just before a breakthrough is a typical mo also
the low pps resulting mostly from the sec investigation is what probably forced ZNOG to raise the A/S
and due to the low pps there's a feeling of urgency to make a discovery this time- after mj1 was declared not commercial-despite mj1 being the wildcat well
they are not likely able to do so these insider option plays if they have struck oil before telling us - but it may mean they expect something soon-which would be in line with the drilling schedule they previously gave us
all good reasons
Besides which others smear attacks on ZNOG by using another companies misfortune is faulty logic- ZNOG is not responsible for what another company does