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So Bear, I'm going to pose this question in the hope that I might get an answer this time. Given the repeated accusations that ZN has just drilled dry holes, what is the expected number of wells that should be drilled, by a wildcat oil & gas exploration company, in Israel, before they find a commercial discovery? One? Two? Three? Ten??
I'm in
Principalities and powers my friend. You are exactly right
Well done. Perfectly laid out for all to see
I'm very sorry but I don't have PM ability. I would if I could :(
Agreed. 6.25 million shares short and 6 days left to cover. Given the latest days to cover was about 12 days, desperation is setting in.
I also find it enlightening that, while most credible journalists will state if the9y have a position in a particular company they are reporting on, Mr. Powell has never declared if he has any position in ZN stock. His articles also fail to meet basic journalistic standards. His sources are always suspicious.
Well, it's the latest hit piece from our friend Jamie Powell. No references, the video is not posted, just hearsay. Here's the quote from the article:
We have seen video footage from Megiddo-Jezreel #1, which shows conversations with a security guard at the gates of the site. Metadata we saw indicated the footage was taken on July 28 this year.
A Hebrew speaker at the FT translated two videos for us:
Q: Is there a lot of work here?
Security Guard: No one knows. They're doing tests.
Q: So they do tests every day? What are they testing for?
(inaudible)
Q: do you think there's oil here at all?
Security Guard: I don't think so (inaudible).
Q: I'm not, I'm not.
A second video appeared to continue the conversation:
Q: And why don't you think there's any oil here?
Security Guard: That's what they're saying. The people who work here. But they'll keep trying until they decide once and for all that there's no oil.
Q: Thanks very much.
The videos were brief, so it is possible there were further conversations with either the security guard or other staff members we have not seen.
I wonder if Bronstein, Gewirtz a g Grossman know that they're trying to litigate against a company dedicated to making the nation of ISRAEL energy independent! ??
Well stated micro. Couldn't have said it better myself
Do you know what instigated the investigation? I don't. But I do know the sequence of events that led to it. Please read JRyans sticky. Then draw your own conclusions
The timing of the SEC investigation is HIGHLY suspicious. I don't have the time to lay it out, and JRyan has done a superb job of laying out the entire scenario. But this is a standard and typical tactic of the short and distort crowd to use the SEC, through false accusations, to instigate an investigation that can then be repeatedly referred to in order to bring the share price down, enriching short sellers at the expense of the company and people who would otherwise hold the stock.
I believe KyOil has covered this rather extensively, but I recall it being referenced in the shareholders meeting video
No more wild than the accusation of scam being thrown around by those who want shares sold to cover short positions
But they did announce they encountered high pressure after punching through the shale cap at about 3300m. I don't believe this can be dismissed
So would a pump jack be needed if there was no oil?
With 81k volume so far today, looks like selling has dried up again
Thank you for your reply. None if the items on that list would suggest a dry hole or a lack of a discovery
I think this might shed some light on why Spike got such a terse response from Dustin last Friday. Dustin was probably frustrated due to this logistical delay.
My ideas on possible sources of the logistical delay:
1) Delay in 3rd Party Analysis
2) Delay in getting proper clearances/approvals from Israeli Ministry of Energy
3) Delay in getting all neccessary test equipment into the state of Israel and to the well site
KyOil - what kind of logistics (planning) go into testing a well?
We have hypothesized that ZN would have a 3rd party verification of results once testing was completed. Is it possible that the 3rd party is taking longer than anticipated, thus a "logistical" delay?
Definition:
lo·gis·ti·cal
l?'jistik?l/
adjective
relating to or involving organization and planning.
"logistical problems"
PS - I bought more shares today
I'm holding at least until the next PR is released. Here's the real question: Have the naysayers provided one shred of verifiable evidence that would make you believe that ZN is not on the cusp of a commercial discovery?
How is "free flowing hydrocarbons" misleading? It is what they said.
Free - no outside pressure
Flowing - not stationary; moving
Hydrocarbons - gas and/or oil
What's misleading is the attempt to equate the MJ#1 well to Zion's previous wells.
It would certainly explain why they are harping on the alleged delay issue. The longer ZN takes to release anything, the more interest shorts have to pay on their borrowed shares. I guess the squealing we're hearing this week is related to the interest pain they're feeling. And they are trapped in their position as there is virtually no volume.
I'm traveling today, so forgive the delayed responses. What do you see in the seismic zone images that would lead you to believe "no oil"? Can you illustrate the image?
But did they wind up drilling deeper than 2800m?
Geo, let me re-pose Kyoil's question: have you, or anyone you know, ever encountered a well with even 2 of 3 of the characteristics that has turned out to be a dry well?
Also, others on this board, have reviewed the same seismic data, as well as a PHD geologist on ZN'S board and estimated that the potential for commercialization exists. The best you can say at this point is that it could be dry. You cannot know(unless you have inside information)
Geo, how did you get a hold of Zion's seismic images? Can you share? That would be the most compassionate thing you could do for all those who invested their retirement funds in ZN. Would also help the many investors on this board.
Definitely having fun. Last night on vacation. Traveling home tomorrow, so throw one on the grill for me too!
Or tell us how much they did find! You are right though. They will need to come clean. I expect it will be in the next couple of weeks.
Geo, from all the video's and interviews I've seen of JB, plus the personal interactions with JB that many on this board have testified to, I doubt JB is the slightest bit panicky.
But given the hysteria I read on the Yahoo ZN board, it's pretty evident who's panicked. Over 6.25 million shares short, volume at 200k over the last couple of weeks, pending news that could change at least Israel's economy, ZN and her supporters are not the ones panicking
ZN shorts are in an absolute panic. The funny thing is they just keep beating the same old drum....SEC, No revenue, dry holes, 18 years, blah, blah blah....
There will be lessons learned, that's for certain.
BTW - Did you see the story on how one of Tesla's big trolls on Twitter got doxxed? Turns out the guy had a huge short position on Tesla and also worked for a firm that had a large investment in the oil industry. Talk about short and distort
https://electrek.co/2018/07/24/tesla-troll-short-doxxed-oil-industry-musk-calls-boss/amp/
This story sounds familiar.....
I found this board via Yahoo as well
Thanks micro!
The thing I wonder about is what happens when the good news hits and the ask goes to $30, hypothetically? Now the shorts have over 6 million shares they need to buy. How high will the price go as the shorts panic trying to minimize their losses? I assume the price could spike up astronomically. I was wondering if anyone had previously seen a perfect storm like this happen to another stock
Anyone else on the board ever see a short squeeze on a stock who has 10% of it's share shorted and a days to cover at 12?
Hey Tisdale, Have you ever seen a short squeeze hit a stock that was 10% short and 12 days you cover? If so, what happened?
Tothe - How about you?
My wife and I are in the southern Rockies this week. I know what you mean by being refreshing!
Should have been "!!" ??
You're most welcome ??