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It is a game and you're playing both sides really badly. The last official operational update was 17 May with social media updates in between; with an official denial about SEC related rumors. I would hardly call two weeks without a PR a dearth of communication. The SEC I'm certain are always probing hundreds of public companies for any irregularities daily and they will not hesitate to voice their findings if they find validity. Instead of being an alarmist I suggest you contact the CEO of Zion directly and voice your concern and let us know what he told you. I'll do the same.
I'm in full agreement and as much I would've hoped yesterday we could have seen a PR I know enough about this industry that they need to line their eggs up in a basket at this junction. If they rushed another fluff piece just to stem the pps bleeding it might affect the next one and diffuse the impact. I still remember the last concerted short attack last march when they were more or less pressured into releasing news prematurely. Legit companies don't babysit their shareholders. They've been active in other ways to be informative but as we all know, shorts/bears have no issue with being unscrupulous and will prey on any sign of weakness.
Since they're now testing for actual commercial quantity we can discount just about everything the bears are spewing. Flow Testing by definition points to the production estimate they can expect from a zone to obtain an accurate calculation of what will be a proven reserve. That's the core of what it boils down to at this moment. Yep nerves are getting frayed and understandably so. I imagine some have jumped ship and decided to stay on the sidelines but I believe the next few days will greatly reward those who persevered.
Definitely not during the Investors Conference. News of this magnitude that could significantly affect the pps needs an official press release prior to the meeting. As someone here mentioned there may be a trade halt before it's made public. Whether if it's this Friday or Monday it's standard protocol and smart. How are the attendees supposed to react when they announce the news we've been waiting months and months for and they're stuck at the conference watching the stock price go to pluto lol. The conference will be about tying up loose ends and answering investor inquiries in detail about Zion's plans going forward.
Lol. The smart shorts quickly become forced converts and go long. But those not paying attention will have to sell their second hand lambos and live on ham and cheese sandwiches for the time being. In their mom's basement.
I'm gonna stretch my neck out - Friday, 31 May. Pre-Market or at Opening. YES!!
$3.64 was the last AH trade. $3.42 was a low. Some sites like Yahoo are behind. Nevertheless AH is absolutely meaningless without big volume whether it's higher or lower than the market close. If the volume was a million then feel free to freak out because something just hit the wires.
Since I'm not in in Dallas either I tend to agree. Flying in from another part of the States to a conference still having no concrete info wouldn't be too appealing. Now if it was Miami or New Orleans that'd be different!
Zion will not wait for the next biotech consortium to make their game changing announcement. That's my final answer ;)
Not anything that hasn't already been taken under consideration by this group and the shorts. But this isn't a bio pharma lab where you make a presentation or reveal a phase 3 abstract at a consortium. For this reason I believe they won't wait til 5 Jun once they've independently verified the potential of the zones. They wan't you and people shorting to be shocked and astounded. If anything, the Investors Meeting will follow up with more juicy details and tie up news on partnerships, reserves, future sales etc. Investors will have many questions!
I'll settle for an epic squeeze but nothing would please me more than a squeeze of biblical proportions. In the end this is what any short deserves. Too many are just unscrupulous and I honestly don't have any problem with them living in a tent after news is announced.
Stop losses were triggered obviously and those in the know took full advantage. I had a sneaky feeling this was gonna happen at least one more time. I wish I had waited as my other funds are tied up til next week.
Great intel! Psshh don't tell the shorts hehe.
Flatron it's good to have an experienced industry hand like yourself here in the Forum. The enthusiasm here can get out of hand sometimes lol. Sometimes with the PRs it almost reads too good to be true in the phrasing and it makes you a bit suspicious. I've been in a couple of wild cat oil plays in the past that went nowhere. Zion is the first that has gotten this far in the testing phase and the potential coming into focus seems incredible. Your technical interpretation is much appreciated.
I've put a few posters here on ignore including our fair weathered friend Spikewins. The bearish noises are getting louder and even more comically predictable. Definitely a good sign! I've never been long in a mother of all short squeezes event but this year is as good as any I suppose. Yes let's all have a beer in Dallas next month.
Well the pps has doubled since last christmas. If you bought at $2.50 and sold around March at around $5.00 you'd be doin alright. This is an investment forum not a crystal ball. I'm prepared to gain and lose money on my own DD not anyone else's. If this goes south I'm movin on to the next play and the next and the next.
Right the ole buy the rumor bait and switch lol. Been there and have suffered. I think the pps now is the ground floor and if the find is anywhere near we hope it is, this has a long way to go before there's any considerable profit taking. The juiciest part is that they announced 5 zones, which even if there is massive profit taking, new longs and momos will jump in on any pullback. This along with big name partnerships and possible buyouts should keep the Zion Train rolling.
I hear ya and the market sentiment has always been "show me the money". The best thing about Oil as opposed to a Biotech play is oil has a ready made market and sales will be immediate. Everyone knows this and it doesn't hurt that oil prices are shooting up. The size of the commercial discovery is the only spook left in the room keeping the pps down.
Bought more. In a way I'm glad the MMs (and shorts) are keeping this low before it goes completely nuclear. The good thing about oil is there will be no down time in search of markets or potential buyers for the product lol.
Question for anyone or oil experts. Will the companies performing the well test be able to run the simulators to calculate the possible recoverable reserves in the well? Assuming Expro or Haliburton has the Reservoir Engineers on site.
You're grossly underestimating the madness of today's markets. I'll predict $8.00 at premarket and a high of $16.00. That's surmising that we are way above $5.00 come end of May. It could settle lower at $14.00 once profit takers are done. So I'll say $14.00 for a conservative estimate haha.
Is it safe to say that ZN has already done preliminary well testing before they even contracted Expro in which they concluded that the commerciality of the find was magnificent? Expro being one of the top guns of the industry will validate the discovery and help Zion plan the facilities to maximize production of the zones.
Agreed. End of May or before June 5 they will make an announcement. As the Investor Conference is slated on that date they should have news even if it's preliminary. I'm gonna try to go.
Are we about to see the epic short squeeze of 2018?
Lol if you plan on continuing playing the market anxiety attacks and grey hairs will come. The payoff with Zion is so big I'll never write it off even with days like these. Lucky for me I'm on vacay and can monitor the market better.
Wow will we close green? lol. This is one of the strangest trading days I've seen in a while and I'm a participant.
Stop losses were probably triggered when it went below $5.00. The shorts had their day today. Tomorrow, unless something burps out of the ground (which I doubt) should get this over five again.
It's almost certain that people want it to go lower so they can jump on board. $4.50-4.60 may actually be the new base. When we break $5.00 next week with this level of accumulation and anticipation, we could see a new high sooner than expected. It wouldn't surprise me if ZN gives us some sort of update next week either. From my past experience there comes a point in oil plays where charts are useless as a platform how things will play out.
Since they are in effect testing 3 different zones for commercial capacity it may take a bit longer than usual IF they choose to announce the results for all three in one PR. Announcing each zone separately might give us more momentum going forward but that could have drawbacks as well depending on various factors. More than likely "hints" will be given to us on social media.
It's happened before and I've seen it happen in oil plays but some other circumstance would have to exist also. Such as if a substantial amount of the float is bought out by an entity prior to the announcement. Or if the stock already has a low float. Resulting in an event famously known as "The Mother Of All Squeezes" lol. Roku comes to mind recently and with Porsche a while ago when the pps went from $200 to $1000 in a blink of an eye.
The last PR was basically fluff. Even though the initial reaction was very positive the market decided it was just another operational update that didn't reveal anything new. In other words the excitement is already priced in. A month a half lag before the next one probably spooked a lot of potential longs. To get this over $5 and never look back will need more concrete facts and figures. At this point still one too many unknowns.
I think the best possible way to do that would be to sabotage the well. But we're not going there either lol. Oil discoveries, especially wildcats are notoriously volatile. The proof will be in the pudding when they clarify the potential and how big the discovery is. Zion may drop us a bone in social media before the next official update hopefully. If you've ever invested in Bio you'd know not even an FDA approval can keep a stock up for long. You'd need to follow up with sales and big dollar signs. Until then more volatility unfortunately.
https://www.croftsystems.net/oil-gas-blog/what-is-drilling-mud I believe this is what the nature of the description "clear evidence of oil in our circulated mud" is alluding to in a prior PR. It's a type of fluid in the industry that they call Mud that facilitates the drilling process. Not actual mud but I'm sure it gets pretty muddy 3 miles down and you hit hydrocarbons lol.
It sounds like we are just one PR away from the greatness. This one didn't announce anything what the market or any oilman already knew or suspected. But this is being done purposefully and with more than a good amount of mindful caution (for legal reasons). So they've confirmed oil, possible multiple production zones and April for a comprehensive update on the discovery. Sounds like a good recipe for an uptrend through March but almost certainly not a straight one.
In between news you can think of it as another buying opportunity. I'm kinda hoping it stays low as I'll have more powder to buy by tomorrow mid-day.
Shorts and Bears were noticeably absent from many of the boards and chat rooms today. They're in full evacuation mode as they know the next PR could deplete their accounts beyond what they can cover. This has all the making of a week long Bull Run. Pun intended.
DO IT! I'll be right behind you lol. Who else?
Israel could of course buy the discovery outright and take it private. But we're talking way further down the road after reserves have been proven and the value firmly established. This would send the stock price soaring obviously. China has been doing this for decades.
They left open the possibility of another update soon in the last PR. It's in their best interest to keep the momentum going which it looks like they will. If this is the real deal and the find is commercial grade. Which again, the PRs are screaming that it is! I would think experienced hands in the oil industry would know right away.