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This "article" is an absolute fluff pump joke. The tanks are NOT newly installed and likely were used for water/mud mixing while drilling - although they may serve dual purpose as oil storage now we will see. We have not yet witnessed a single fuel tanker loading out on site nor have seen the flare stake in use.
Look at timing. ZN management likely has clear early test results of MJ2's deepest target zone and they are likely just moderately encouraging (maybe like Givot's well that was barely a producer) - obviously by body language/lack of smiles/optimism not the gusher we had been hoping for. The other "zones" of interest are likely the same ones found and already tested extensively (even fracked) in MJ1. Remember we are drilling into the exact same formation of MJ1 just 500 ft deeper. Obviously the zone of greatest interest was the targeted deepest depth of MJ2 and ZN likely has early indication flow tests (assuming we test wells working bottom up). It seems the timing of ZN's recent application for an extension of lease exploration is just that and may have been triggered by early underwhelming results - a hedge in case MJ2 is not a producer - but yet may still warrant a favorable continued exploration lease given additional promising hydrocarbon shows.
https://www.zionoil.com/updates/zion-oil-gas-operational-update-for-license-428-in-israel/
Press Release: Zion Oil & Gas Operational Update for License #428 in Israel
May 11, 2022
Zion Oil & Gas Operational Update for License #428 in Israel
Zion files for a new exploration license in the Megiddo-Jezreel Valley.
DALLAS, Texas, and CAESAREA, Israel, May 11, 2022
Zion Oil & Gas, Inc. (OTCQX: ZNOG) files for a new exploration license in the Megiddo-Jezreel Valley on the same 99,000 area as the previous #401 license and the current #428 license.
“This new exploration license application will further our current and future work plans in Israel,” stated Vice President and Managing Director in Israel, Jeff Moskowitz.
All well-testing, completion, and stimulation equipment are at the Haifa port or on location in Israel for the next phase of Zion’s operations.
Zion’s MJ-02 well has been completed through casing, liner, and cementing. Ongoing operations include well stimulation and DST testing. All necessary equipment to conduct the well stimulation and DST testing are in-country despite the global logistical backlog.
Simultaneously with the new exploration license filing, Zion has submitted a petition seeking administrative approval of a term of three-years for the #428 exploration license under Israel’s petroleum law.
Agree 100%. All those advisors & noone knows how to craft an early PR message to guide expectations? ZN's handling of ASM was horrid (even without JBs statement) and destroyed their pps & shot themselves in the foot considering ongoing DSPP.
KyOil it seems pretty obvious to me now, while hoping for the best that MJ2 will be a producer, if not, their application to continue to explore is just that - an extension of lease to protect interests and keep trying.... not looking promising
You test from bottom up I would assume so they have early results
A miracle thus far yes but zero optimism expressed by execs and JB reinforced his negative outlook (I gather from early shows). At best if MJ2 proves commercial, I wouldn't expect a gusher. Givot was marginal at best.... we need a decent winner that can support enough interest to pay for another well likely to cost at least 100 million... and we only have 2 million in the bank with a crazy overhead burn rate.
BTW didn't MJ1 have multiple zones of interest as well that turned out to be duds (are the zones found in MJ2 at same intervals? The only real zone of tremendous interest is the deepest targeted with a 6" hole)
How come nobody is mentioning the exec's pivot to how valuable our rig rental potential is? Why was this even mentioned? Obviously not a bullish signal ?? ??
We need another miracle that hasn't manifested itself just yet.
Never said that but I did sell a portion after waiting way too long today (waited around for anything to be said positive about testing). I still believe His Word but dead money is wasted money for a trader. Hope I'm wrong but pps will likely slow bleed from here.
Honestly I think even the MM's were surprised by the solemn tone of the ASM and were not prepared for such a dramatic sell-off. Normally oil execs are excited about on-going promising testing taking place.
Face it friends. Once again we are dead money unless we have a ___. Absolutely no positive body language from execs and JB re-enforced no known discovery yet. Management even pivoted to the thought that we have a valuable rentable rig with expertise to lease... a clear pivot.
Should MJ2 not be commercial and we try to stay about our mission, we have to convince Israel to extend lease and we only have a few million in the bank -will cost more than that to plug MJ2 if not commercial and can you imagine the costs to move rig, plan new site and the wait time involved?
The ASM could not have worse. I am disgusted and wondering why the execs even bothered to travel to Israel which I admit raised my hopes a bit. My message to ZN management is thanks for nothing and then rubbing salt in my eye.
Are you kidding me? I'm surprised we are over 19. This is a gift price to sell. We will go much lower likely.
I've been following John Brown & ZN Oil since 2001 and was part of their original IPO back in 2003. Been a long torturous journey of faith. I still believe in the word and calling but how many times L_rd?
Can you repeat what Brown actually said or paraphrase his words please? I missed part of it.
No worst case scenario is that they are an oil drilling company too and can rent their rig operation out to others in surrounding countries. Oil is big and rental of rigs likely pays very well but ZNOG will not need the overhead they have now for this type of operation. Its always been up to Him to provide and say "when". He has sustained us thus far in the face of even darker obstacles....
Same here. I thought this time with the boys heading to Israel it was going to be different. Expected at least a mention of promising shows and some body language excitement about ACTIVELY testing (thought this would at minimum maintain the price at 25-30) - but no, total ambiguity regarding testing and their faces looked despondent. The meeting could not have been worse.
The only positive we have to hold onto is that there was enough evidence/shows to warrant completing the well.
Just numb yet again but we are all used to it by now
Really no reason to even think about averaging down. No expectation or excitement left after that meeting. Why did upper management have to go to Israel? For what?
Agree and I should have sold but didn't... wanted to wait for the drilling update nothinburger which is itself all we need to know.
How many times can our hearts be broken...
No stop loss for me. No matter how far along we are in the process of testing, as long as management is positive about outlook (and they seem to be because they are over in Israel to be on site & hopefully with Israeli representation present too!!!) we should at a minimum maintain current pps. If the MM's really thought we were a dud they would have pushed us up over 50 cents today with massive volume to short with intent to cover tomorrow/later.
As the ticker played out today, it looks like the MMs covered on the dip and are ready to go back up with news. This will not be a sell the news event but the opposite imo.
A nice early positive ZN PR before meeting would be beautiful and allow for digestion of confirming discovery!
Tomorrow's open is going to be interesting before meeting 9am central time. I think we either spike big up a bit or we see the MMs turn off the churn machine and stay very closely range bound at 32/33.
Do you think they did the acid job before installing production liners?
Can the DST be performed with the BOP and Christmas tree installed or did these have to be removed first, DST performed and then re-installed? lol sorry I know I'm still like a 4 year old asking question after question :)
For the record I just called ZNOG's office in TX and nobody is answering (no chat either! Tension is building if they are all surprise flying over!!! Israel time is 8 hours ahead of Central time so at 9am tomorrow it will be 4pm in Israel :)
Is the wireline/DST performed live while oil is free flowing?
Please share did you hear this or speculation? I just logged onto ZN website and their live chat bot service is not being manned at the moment :) Perhaps they don't want to answer questions right now...
DJ you are an expert on ZN! I'm curious what that PSI trailer actually does to measure a reservoir - do you know? I would think the 3D and seismic wire logs would give reservoir demensions and a simple calculation X well head flow rate would give reserve size. What do the specialty computers/devices in that trailer actually perform :)
Are you saying the acid stimulation has likely already occurred and we are now testing the flow results? Can you give a range of well acid stimulation can help a well flow... would you say a boost of 15-25% or can it even boost 100%+? Does acid stimulation work over the life of well or is it common to re-work a well with acid treatment over well life?
Hi KyOil & DJ couple questions for the experts. Do we have any picture evidence of acid stimulation taking place at MJ2 yet? Has Zion stated they are indeed planning to acid stimulate or is this just an assumption given standard practice in completing most wells? Thanks in advance!
When we will get real news confirming oil or perhaps flare pics burning at night before then... we will indeed rocket past 42 and never look back! Until then :)
lol a 20% OTC single day gainer (after a massive 10-15% runup day after day) is pretty obvious :) You didn't sell any and buy back?
That was fun. Hope you took advantage and banked
Anybody have any insight to institutions that may have recently been buying ZNOG? Would love to know if this info is current or not:
https://fintel.io/so/us/znog
https://www.sec.gov/cgi-bin/viewer?action=view&cik=1131312&accession_number=0001213900-22-025556&xbrl_type=v
I love the price action but today's 20% gainer is providing a little "hedge" profit taking action. Smart money is taking a little off the table.
Friends we are surpassing market cap of 200 million with pps over .415 (assuming we still only have 470 million shares outstanding but likely over 500 million by now)...
Feels different this time doesn't it fellow long Ol' timers? Quiet confidence and fun to hold as hardly nobody is selling. Timing just feels so right. Blessings All and enjoy your Shavout weekend!
Awesome thanks DJ
DJ since you posted the flare picture the market cap of ZN has risen by over 30 million. Tell me Sir how does that make you feel Bro!
The media coverage at the time used the same exact same wording "MASSIVE volcanic eruption" and was the largest ever eruption seen from space. Did changes occur at ZN's well? Did their pressures spike? I'm curious
thats all right perhaps they were doing additional wire-logging etc then... I wonder if something changed that was detectable. We also had earthquakes that hit right beside our well Feb 16, 2022 providing additional free fracking services...
https://www.timesofisrael.com/two-minor-earthquakes-rattle-northern-israel-within-hours/
Exactly its either now or never and His word will not be void.
KyOil do you know if ZN's well was production ready cased, cemented w/liners installed by Jan 15, 2022? This was described as "massive" just like the p___ said...