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Lol Tisdal do you know how shorting works? Over3 million shares sold short today but still bullish on breakout pattern.
Seriously you don't understand this yet? Its called a short block sale at the top and at the very end of the day. They sold short so they can cover lower.... Come on you've been around long enough to know this.
Nice day longs! Will she hold? I think we see 34 and the fade to 30 but still strong :)
short block traded likely. short volume report tonight is going to be interesting
thanks KyOil interesting comparison to APA
Just noticed today we have 357 million shares issued so over 34 million shares recently purchased thru the DSPP since last month. Hopefully ZN pulled in another 7-8 million to fund ongoing testing :)
https://www.otcmarkets.com/stock/ZNOG/security
Curiously the 350 meters thick strata of potential beautiful oil reserve is found I believe relatively shallow at 5-7k meters down - an easy to drill to depth. Yet they found no oil because their drill was nearly powerful enough to drill 10k+ meters deep let alone to 18k meters where we believe the oil is to be found.
My take is they need to drill deep to penetrate the hard rock cap at 18k meters deep so that the oil can be released upwards and fill the reservoir strata - then WHOLA the whole reservoir fills up and ZN can easily extract the oil from a much more manageable and accessible depth under 7k meters.
Best case scenario is ZN waits to finance until only AFTER early test flow results pass legal review and then publicly released. ZN doesn't want to get into any further legal issues with ongoing SEC investigation. I'm almost positive that ZN legal counsel is saying the less said the better even after early test result shows - but ZN also need the pps higher in order to be able to maximize their coming share issuances.
It would be nice if a picture of tankers full of oil loading out from a storage tank on ZN's pad or a 100 foot gas flare was captured by a passerby :) In this scenario the pictures would do the talking and ZN's pps would take care of itself.
Bringing in a capital investor IS dilution too!!! Either they get the cheap discounted stock or we at least have the option of participating. ZN has always been funded by the faithful so why not rely on us now again and not go the way of the world when we are so close???
Tisdal ZN needs serious money to test and drill for another 8 months. How is that going to happen? I'd rather it be us the faithful funding the operation than giving 100 million shares away to a tute at a 30% discount. Stock price will go down either way but at least we may get valuable future warrants in return.
Before giving away equity to large tutes ZNOG should offer the faithful shareholders another rights offering with sizeable warrants exercisable at say .50 - $1.00
Nothing fancy just a typical "shelf offering". Large block of shares are sold to a tute at a 20% discount. Its fast and cuts like a knife. Usually the tute short sells the block in advance (once deal is inked privately but still not public). Afterwards the price of stock always drops well below the discounted shelf offering price. Companies do it this way because they need large amounts of money fast and because the trickle of funds coming thru the DSPP is just too meager.
Can work out well. Look at TSLA went from $300s to $100's after shelf offering and look at where they are now.
BUT looks like ZNOG stock is not going up anytime soon with major dilution pending (although the MM's will take it up right before the announcement and may have been the reason for recent spike to 28)
Oh and I miss my best friend. Where did you go bud?
THE BIG QUESTION? Will ZN strike now with a sweetened DSPP units rights offering while the hype of discovery and lease extension is still hot? Or will they wait for additional good news of initial testing first (carefully vetting the wording for legal protection) and then make a DSPP units rights offering?
ZNOG's price is currently over 23 cents but will be declining steadily back down under 20 as the impact of the news fades.
I would actually go in big time if ZN makes it worth it and rewards her faithful with sizeable warrants. I miss the option market on ZN and favorable quantities of realistically priced warrants wrapped up in a new units offering would make me shake some change loose for them.
Agree and eloquently stated. I believe ZN's pps would likely have been over 50 cents here recently on the news of hydrocarbon shows and extension of lease alone. Unfortunately the entire OTC market is down 50% and also ZN can't speculate right now on what they "may" have given the current SEC investigation and are gun shy.
The other looming question remains are we going to have to wait 8 months while they fully test out the hole. I think ZN may have several additional kick-out lateral bores to drill if the deepest bottom hole section doesn't test commercially.
ZN will totally exhaust ALL potential zones as a last ditch effort. I think ZN asked for the max amount of time to test because they know its do or die so to speak. BUT HE has this in his hands so no worries :)
Great questions KyOil. I would add question #5 did ZN have to update their S1 today in order to continue selling through their current DSPP? I thought with the approval of 800 million shares at last board meeting they were already good to go to potentially sell all up 800 million.
I can't hardly believe we are already up to 325 million shares! I remember when we were 7 million and just 70 million (good Ole days eh)
IF ZN KNEW they had a definate large discovery at this very moment they would NOT need to file S3 to raise funds now - just announce what they have. Remember Tisdale capital offerings are always at a substantial discount- never over current pps. MMs holding up the price today was a good time to sell. I'm definitely not as bullish as I was this morning.
Short volume steady and still high. Tisdal I guess I'm not quite as optimistic as you at this time quite yet (can't ZN still do a rights offering even if OTC? - rather than enrich the big boys let the faithful come thru again. I'd like 25 cent warrants big time)
The Volume and short volume are limited. It is not including all volumes from all Market.
Date Short Volume Total Volume Percent
2021-12-01 2,294,510 4,299,419 53.37%
2021-11-30 3,567,259 7,150,730 49.89%
2021-11-29 4,677,581 9,167,193 51.03%
2021-11-26 1,154,879 2,014,332 57.33%
2021-11-24 4,011,420 7,911,053 50.71%
New S-3 filing just out. Get ready for another 200 million share dilution. Testing 8 months is expensive. I hope we can hold 20 cents. 8pm I'll post today's short volume. We should have been expecting this scenario. Guess dspp isn't enough to keep pace with expenses.
I'd pick them up too for a centy :) I bet we are over 350 million shares outstanding about now. This is a big factor in the MM's holding the pps down. Without solid news of a large commercial find, the MMs will not let the pps run again (imo)
90% of today's volume is not real. Just a few flippers trying to scalp pennies as MM's hold it up and short away. Yesterday's update (8 months to test now) is not bringing many new faces into ZN today (just updating the base). Next few days is going to be interesting.
More shorting at the top. Looks like 25 cent range bound setting up.
The Volume and short volume are limited. It is not including all volumes from all Market.
Date Short Volume Total Volume Percent
2021-11-30 3,567,259 7,150,730 49.89%
2021-11-29 4,677,581 9,167,193 51.03%
2021-11-26 1,154,879 2,014,332 57.33%
2021-11-24 4,011,420 7,911,053 50.71%
2021-11-23 6,277,532 14,506,848 43.27%
A discovery maybe yes but the size is what matters and just how commercially viable. Remember ZNOG has a current market cap of 87 million at today's closing price of 27 cents with 323 million outstanding shares. I think the market makers want to see more details before they let the price ride up much higher. With the extension time is on their side to accumulate much cheaper.
Today's 8K explains the recent price action ahead of the news. The big boys have early access to what is about to be released. Slow bleed back to 20 but I'll take the good news and wait it out until we get news of the Energy Energy eruption sign. Still waiting for this confirmation friends.
OK so for how many weeks or months do you all think the MMs will hold ZNOG's pps above 25 cents?
Beautiful update from ZN today:
November 30, 2021
Update: MJ02 In Israel
Dear Zion Supporters and Shareholders,
Perhaps it is appropriate that we get to share today’s update with you all during Hanukkah, which celebrates a time when, according to Jewish tradition, God provided for those in Israel searching for oil, granting them eight days of light, when it appeared only one day was left for their work.
It is our joy to report to you this morning that our Megiddo-Jezreel license has been extended for another eight months for the purpose of full testing of Zion’s MJ02 well.
This is a blessing of the Lord, and we are exceedingly grateful and filled with anticipation as we move forward with MJ02’s testing phase.
We continually give thanks for our loyal shareholders and supporters and will provide material updates when we have relevant information to share with the public.
Sincerely,
Rob Dunn
CEO
With the license extension news out today (Great news btw), this info takes away all momentum going into Dec 2. Nothing more to expect until we get full testing results in a few weeks at the earliest.
lol the MMs don't seem to know how to respond to this news
License extension time tells me ZN likely needs time to drill out a few more lateral holes and may need to test those as well.
More money needed and further dilution
dude you are looking at aged info 11/15 and prior. We all know short volume and short interest are different but the extra short volume is pumped up to look bullish and fool retail into buying high so shorts can profit when they tank the price. As for your actual short interest, yes of course I would expect the short interest to be down when prices were 15 cents and the short volume reports around those days showed very low short volume = real buying. Short volume and short interest correlate.
lol you really think 10 million real shares were actually purchased above 26 cents by retail and or firms... dreamin
Historical Short Volume Data for ZNOG
Date Close High Low Volume Short Volume % of Vol Shorted
Nov 29 NA NA NA 9,167,193 4,677,581 51.03
Nov 26 NA NA NA 2,014,332 1,154,879 57.33
Nov 24 NA NA NA 7,911,053 4,011,420 50.71
Nov 23 NA NA NA 14,506,848 6,277,532 43.27
Nov 22 NA NA NA 3,626,183 827,917 22.83
Nov 19 NA NA NA 3,375,029 854,974 25.33
Nov 18 NA NA NA 3,017,598 921,653 30.54
Nov 17 NA NA NA 2,840,452 331,748 11.68
Nov 16 NA NA NA 3,559,291 961,818 27.02
Nov 15 NA NA NA 3,609,764 668,329 18.51
Nov 12 NA NA NA 9,794,808 4,267,717 43.57
Nov 11 NA NA NA 4,449,821 1,098,743 24.69
Nov 10 NA NA NA 7,587,007 1,875,685 24.72
friend trust me the wise one knows
Notice how the short interest has been up lately big time ever since we topped 22 cents Nov 23th. Real volume is less than half what is shown so be careful buying & selling over 26 cents as the big boys are the ones playing in the short zone above this price. Most holders of ZN are sitting 100% up here and the MM's don't want to give us much more profit potential lol. Also, ZNOG going over a $100 million dollar market cap with 323 million plus shares (maybe over 350-400 million shares by now as that news is delayed) I don't think 30+ cents is going to happen before Friday unless leak of discovery...
Also isn't it curious that all the ZNOG bears are no-where to be found posting here and we seem to have a lot of new & old "friends" posting all positivity... are they all working for same pack? I only buy more ZN when my best friend here shows up working hard. Be wise friends.
Historical Short Volume Data for ZNOG
Date Close High Low Volume Short Volume % of Vol Shorted
Nov 29 NA NA NA 9,167,193 4,677,581 51.03
Nov 26 NA NA NA 2,014,332 1,154,879 57.33
Nov 24 NA NA NA 7,911,053 4,011,420 50.71
Nov 23 NA NA NA 14,506,848 6,277,532 43.27
Nov 22 NA NA NA 3,626,183 827,917 22.83
Nov 19 NA NA NA 3,375,029 854,974 25.33
Nov 18 NA NA NA 3,017,598 921,653 30.54
So many great stocks on sale today 10% off and ZNOG is still speculative with unconfirmed find & unknown status of lease extension. ZNOG sustained over 28 cents puts our 323 million share market cap just over 90 million and at around 100 million with a pps of 30 cents. I don't see us going much over without real news... but then again the MMs like to run before the news and then sell into it. BUT it will depend on the specific news before we see how the stock will behave :)
MMs simply covered a portion of their short at the top yesterday at 26-27 cents (3:30-4pm yesterday). They shorted well over 2 million shares in that gap and then covered first thing this morning at 23-24. Now they are washing the same shares by shorting again at 26-28. No worries as the price is still bullish lower lows and higher highs (but I doubt we see 30 cents today with market down 600 points). Here is the short sale volume yesterday (still bullish but MMs were opportunistic today). A solid close over 27 today would still be a very bullish flag.
Historical Short Volume Data for ZNOG
Date Close High Low Volume Short Volume % of Vol Shorted
Nov 29 NA NA NA 9,167,193 4,677,581 51.03
Nov 26 NA NA NA 2,014,332 1,154,879 57.33
Nov 24 NA NA NA 7,911,053 4,011,420 50.71
Nov 23 NA NA NA 14,506,848 6,277,532 43.27
Nov 22 NA NA NA 3,626,183 827,917 22.83
Nov 19 NA NA NA 3,375,029 854,974 25.33
Well on bright side 800 million shares is our current cap so when we hit 477 newly issued shares after discovery the price will start going up :) Buckle up cause we will hit 800 million shares perhaps by end of this year and ZN will have a a cool 100-200 million in free cash to spend on continued operations and infrastructure (won't go far but will be enough to help get favorable financing :)
Hey Tothe or Porgie I need your expertise please. Says here that of ZNOG's 323 million shares outstanding, they have 262,060,470 million shares held at the DTC (Depository Trust Company). I'm assuming that this DTC is ZN's very own AST which facilitates their DSPP? And if I'm reading this right then 80% of all ZNOG shares are currently still held in AST and have not been transferred out to individual brokerage accounts? And if they are still in being held by AST then "mom & pop" ZN investors are not actively trading their shares? However, can AST lend out & profit off "mom & pop" ZNOG shares to be shorted as part of their holding agreement?
ZNOG SECURITY DETAILS
Share Structure
Market Cap Market Cap 70,378,527 11/26/2021
Authorized Shares 800,000,000 11/01/2021
Outstanding Shares 323,653,837 11/01/2021
Held at DTC 262,060,470 11/01/2021
Float 114,000,000 07/01/2021
https://www.otcmarkets.com/stock/ZNOG/security
Unfortunately I don't think ZN can move up substantially in price until we get clarification news of new lease and/or extension. I think a battle is taking place within the oil ministry. Dec 2 & 3 will be days to watch.
As of Friday, short volume is up on slightly higher highs but looks to be range bound with high short interest:
Historical Short Volume Data for ZNOG
Date Close High Low Volume Short Volume % of Vol Shorted
Nov 26 NA NA NA 2,014,332 1,154,879 57.33
Nov 24 NA NA NA 7,911,053 4,011,420 50.71
Nov 23 NA NA NA 14,506,848 6,277,532 43.27
Nov 22 NA NA NA 3,626,183 827,917 22.83
Nov 19 NA NA NA 3,375,029 854,974 25.33
Could also account for the timing of stopping drilling to allow for at least a week of early testing confirmation of a market producing discovery before Dec.2 expiration. Remember when when we seemed to have had an extension into Jan of 2022 and was pulled back? I don't trust the forces trying to stop His plan but not worried because it's in His plan and perfect timing.
If planned for 700 meters sideways (in addition to 5600 meter true depth) then the true length of well is over 20,0000 ft - maybe even 21,000 to 22,0000 ft the limit this rig can bore.
ZN stopped 500ft short because they already found free flowing oil or they need to test before Dec2 lease expiration? I'm not so sure the new Israeli administration is pro drilling. However I know Who is in control. If they need tests proving reserves before Dec2 than so be it.
No ZN has fracked before np. If the cap is perfectly porous no need to frack - especially if fault lines are already feeding the porous reservoir - just needs to be tapped to allow pressure & air to be released. ZNs discovery is going to be one of a kind!