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It is correct. Think Bernie Modoff.
QUOTE
"affinity scams involve Ponzi schemes or pyramid schemes, where newly received investor money is used by the fraudster to make payments to earlier investors to give the illusion that the investment is successful. This ploy is used to trick new investors to invest in the scheme and to lull existing investors into believing their investments are safe and secure. In reality, the fraudster almost always steals investor money for personal use. Both types of schemes depend on an unending supply of new investors; when the supply of investors inevitably dries up, the whole scheme collapses and investors discover that most or all of their money is gone."
There is nothing about ZN that would match the above definition
You know, affinity scams are pyramid schemes. There is nothing about Zion that even remotely comes close to a pyramid scheme
You mean the Panda/FT video taken on Shabbat of a Hebrew speaking security guard who you can't hardly hear? Oh that's a credible piece of investigative journalism......
Tisdal, I was able to find this link to the updated guidelines for requesting a commercial discovery from the Ministry of Energy. It is in Hebrew. I've tried to read through it using Google translate, and I believe I ran across a clause that says the Minister of Energy can take up to 60 days to review an Application for commercial Discovery. So that should set an upper bound on how long it would take for the Israeli Ministry approval. However, I didn't see anything that would prohibit ZN from releasing testing results before the Application was approved.
Here is the link to the guidelines in Hebrew for any interested party.
https://www.gov.il/he/Departments/Guides/oil_gas_license?chapterIndex=3
So I guess at this point everybody has their chips on the table waiting on Zion to show it's hand. Feels a little like the OK Corral....
I guess we'll find out soon if there's oil down that hole. So, given the current uncertainty of a commercial Discovery, what is your recommended hedge for someone who is long, say, 2000 shares, and they want a hedge in place to cover the loss of those 2000 shares in the event of a noncommercial find?
Tisdal, when do you think Zion will complete testing for MJ1?
The point of my question was that there is no expected number of wells that Zion should find oil within.
The analagy of trying to find oil in my backyard is not relevant as I am not in need of energy independence.
And to say that Zion drilled a blind hole is wrong as 2D seismic is more that adequate in locating the area of conditions favorable to finding a commercial strike. KyOil has laid out Zions case for this already so I won't rehash.
I will concede that 3D seismic is much better than 2D seismic, but you must concede that 3D seismic is SIGNIFICANTLY more expensive (up to 10X more costly) than 2D. In fact, Zion has stated that they may use 3D going forward to help zero in future wells.
Lastly, there have been no insider sales this year (the chairman did GIFT a few shares)
I thought that was a response either tisdal, spike or JRyan got from IR
Thanks micro. Appreciate your legal mind and expertise
Thanks tothe. I hope the MJ#1 is released soon
Wow! That took 6 weeks just to read! Lol
After skimming that document, I agree with your assessment that a dry hole would be quickly determined.
Any of our resident oil guys (or gals) have any comments about the requirements spelled out in here? Are they pretty standard or is there some extra requirements that are unusual?
Thanks tothe & tisdal
Little help Porg. Link not working for me
Has anyone found any details on:
, the Energy Ministry published a document entitled The Petroleum Commissioner’s Guidelines for Approving a Discovery.
It would be interesting to know what's required to get a discovery approved. It might also go a long way in explaining why it has taken so long to get a PR on MJ#1, IMHO
I live a little over an hour from there. My wife's family owns a beach house there. It is a beautiful place!
It truly is a dumpster fire of hate and ill will toward ZN and JB
Love that movie!
I believe that, worst case, the SEC finds some minor violations, negotiates some administrative penalty involving a fine, and moves on. I would estimate a probability of 10% that ZN receives a $50,000 or less fine.
Big like button there pardner!
Thank you Cowboy! Nurses are a special breed for certain!
Ratbike! Congrats! I have a daughter studying nursing at University of Louisville! I know you're proud of her!
Well, those were supposed to be laughing emojis.
????????
Saw this today. Forbes thinks natural gas prices are set to rise. I like the timing!
https://www.forbes.com/sites/rrapier/2018/08/05/natural-gas-is-priced-for-perfection/amp/
Seismic 3D can cost up to 10X Seismic 2D. And 3D not needed for what MJ#1 primary objective, which was to explore the zones and characterized them in the hope of making a commercial DISCOVERY. If the MJ#1 itself is commercial, that is a bonus
It doesn't matter how much it drops this week. What it does next week is what matters
Janice, I suggest you read the timeline JRyan has laid out. You have to connect the dots, but the proof IS there
I never said the SEC was investigating shorts, though I do hope in the end they find anyone who knowingly made unwarranted and/or false accusations against ZN. Given that we don't know what ZN is being investigated for, I guess we can only "speculate" . Lol
I respectfully disagree. Go to www.probesreporter.com . You'll see he charges to file FOIA requests regarding the possibility of SEC investigations. Panda (or another person with an interest in any SEC investigations against ZN) paid Mr. Probes to file the FOIA request with the SEC, then used the response to attack ZN publically before ZN was aware of any investigation. This is a well documented incident of shorts paying for posts against companies
Only ignorance of oil exploration would compare swabbing with free flowing hydrocarbons. Any claims equating swabbing to free flowing oil are evidence of a lack of knowledge
And your evidence of your accusation is? Don't say an SEC investigation. The presence of an ongoing SEC investigation proves nothing, other than an accusation has been made. Innocent until proven guilty, right???
What you call speculation, I call analysis. As in taking the information that has been made public to all, and, based on experience, education and inquiry, trying to assess the possibility if Zion successfully completing its stated goal.
What is illegal is the coordinated effort to distort the known facts by those who stand to profit from the stock price being artificially suppressed.
Thanks Doc
Someone on here suggested rolling my IRA funds to a Roth. Does anyone know what the tax implications are for rolling a an IRA to a Roth?
Or retire early
Neither would I
Excellent choice my friend
That is freaking hilarious! You should post that over at the dumpster fire in honor of the trolls over there too! ??
Only Jamie Powell @FT can answer that question