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it makes more sense to buy when a company is basically at its lowest pps despite being closer than ever to finding the black gold at the end of the rainbow-such is the risk/reward of speculative stocks
so the news was all good but still the pps dropped due to macro world events impacting the oil industry
other oil co's on my watchlist have experienced the same fall-in the last year e.g., one such co fell from 5.50 to .34pps despite improving its longterm situation -the stock market follows a strange logic which defies explanation in the short and often near term
the uncertaintees and macro events like venezuela and iran- which should be causing pps to rise-absent increased usa production-are instead causing some investors to flee such uncertainty- odd when you consider uncertainty describes the stock market itself and the world, since the world does not have a clue to who they are or where they are going
it is situations like this -where a perfect storm of events - as illogical as such storm is- depresses pps beyond that which is logical and provides an opportunity for those with foresight and contrarians to buy for a steal.
at least the fed reduced interest rates 7-31 to partially counteract recessionary tendencies outside the usa
in case some didnt read that far:
"About New Colombia Resources, Inc.
New Colombia Resources Inc. (NCR) was previously a publicly traded company under the symbol NEWC. Due to unexpected auditor delays, they were unable to file timely financial statements so they decided to accept revocation of their shares to file a new Form 10 Registration Statement for these shares. A reputable law firm was engaged to file a new Form 10 to register existing shares owned when they ceased trading. NCR expects to be able to file the registration statement in the very near future or merge with an existing publicly traded company and distribute those shares to their existing shareholders. NCR’s shares in View Systems, Inc. will be an asset of NCR. In addition to medical marijuana, NCR, has significant interest in high quality metallurgical coal properties that are expected to be in production soon. Inquiries about NCR should be directed to +1-410-236-8200 or jcampo@newcolombiaresources.com."
Consistent story line and repeated promises - each of which holds potential liability if there is no actual intention behind the promises.
interesting- no replies?
as some have noted sannabis was suppose to be a spinoff to benefit NEWC shareholders-
no progress on the "within 2 weeks" auditors promise or form 10?
i appreciate all the work you have done as a messenger-messengers often get shot- but what info would we have without them-practically nothing-so i thank you for all your time and effort
"I HUMBLY SUBMIT MY SPECULATION: ZN will be cleared from SEC, share price will return to pre-SEC lawsuit levels, ZN will maintain NASDAQ requirements, 3-D testing will commence, a massive oil discovery will be made within the ZN license area. ZN will flourish, and reward will belong to the faithful investors in ZN."
You may very well be right
the SEC is notorious -at least during the swamp era- for going thru waste baskets etc...
but even if a mistake was made by zn somewhere it likely would be one of omission - not commission- one of accident - not intention-one civil in nature perhaps resulting in a small fine-not criminal in nature-and perhaps directed at one officer but not zn itself
re Nasdaq that is totally in ZN's control- even if zn cannot show value in a world often moved by macro events by jan -ZN could always r/s-
r/s's have a bad rep bc in literal penny co's which have issued billions of shares down to a pps of .0001,they r/s simply to dilute when they have no product, no ability to obtain a product and thus by definition no ability to obtain revenue-and thus when those co's r/s pps continues to fall-
but zn is not in that situation-as long as progress towards value /revenue /product can be shown or inferred in a spec co,there is no reason pps would fall following a r/s just due to the split
zn's history of fundraising almost guarantees the 3d will commence -
"a massive oil discovery will be made within the ZN license area" several have heard -and not from zn- that a commercial discovery will be made-the world does not understand that prophecy usually concerns future events-if they dont see something w their physical eyes it does not exist as far as they are concerned, despite numerous recent scientific discoveries proving the non-physical
following I believe the feb 13 2018 pr(anyway the pr was in feb) re oil in the drilling mud pps went form ca 2.25 to 4.47 in ONE DAY
so what will the pps do following an actual commercial discovery-many made their pps predictions
we know massive amounts of gas and some oil are directly to the west - leviathon its called(interesting?)
and delek -one of the leviathon principals - bought 70% of the concession immediately to zn's west
and what about videos of the 2018 stock holders meeting- i've never seen a witness like that in business-but such a witness provokes a battle- both in the natural and the non-natural-and how does the book end for those who dont give up?
so the news was all good but still the pps dropped due to macro world events impacting the volatile oil industry
other oil co's on my watchlist have experienced the same fall-in the last year e.g one such co fell from 5.50 to .44pps -the stock market follows a strange logic which defies explanation in the short and often near term
So, finally we are updated on actual 3d permitting etc progress in the field and with Israel ministry
1)contracted with contractor for permitting activities in the field: "Zion has now formalized the scope and performance of that work with a signed agreement with Zion's contractor as of July 1, 2019."
The timing of such contract - 4 days after the fundraise ended - may mean as usual zn does not contract until they have the funds to satisfy an obligation -and thus no debt (except usual course of business payables -which cant be avoided-and the senior convertible notes - which are convertible into stock and thus only create a conditional liability)
Actual permitting activities are taking place in the fields/land where the survey will take place
states/governments reserve the rights to subsurface which then yields the power of the state to force landowners to comply with surface activities required for such,but landowners must be made whole for any damages-so the prospective damages (probably mainly to crops or irrigation pipes-but damage to crops will be minimized as most fields will be fallow during the dry later spring/summer actual survey by the vibrating trucks) are being assessed with landowners
2) zn has confirmed via PR/filing that the survey area will be 72 sq kilometers- the map in the email they sent everybody who signed up for emails -shows what looks like a square survey area or very close to a square-cant tell for sure- this may be the most efficient way to survey-and from articles i've read the larger the surface area, the deeper the survey results/pinging underground-which may be especially important since all of their exploratory well (td of 16600 ft or 5060 meters) oil shows were deeper than 15500 feet.
3) binding agreements for 3-D seismic landowner permitting services and for consulting services in connection with the required approvals from the Israel Ministries of Transportation and Communication for importation of the seismic equipment-this isnt done everyday onshore israel,so zn has been one of the pioneers for such work onshore israel
4)ex ceo and drilling specialist Mr Guinn brought in his long time acquaintance /friend Mr Dunn from Viking to do the COO work for the 3d survey
"We are enthusiastic about the progress we have made to date with the 3-D program permitting process and other required approvals," stated Zion's COO, Robert Dunn.
5)LEGAL UPDATE
''In both the shareholder class action litigation in federal district court in Dallas, Texas'',[where zions motion for summary judgment was filed ca Mar 13] and in the consolidated derivative litigation in federal district court in Delaware, Zion, through its attorneys, has filed Motions to Dismiss all litigation, which Motions are now under consideration by the respective courts.''
Unless the plaintiffs suing zn have added items of substance to their complaints, zn's motion to dismiss the cases [essentially as being frivolous] has a good chance of being approved,for plaintiffs at least in dallas are trying to retroactively and substantively imo change the law of notice- i've addressed this before
https://www.sec.gov/fast-answers/answersform8khtm.html
as i have posted much better before several times on this board from sec site,the 4 business day rule does not apply to 8.01 other events,as noted by the sec
Companies have four business days to file a Form 8-K for the events specified in the items in Sections 1-6 and 9 above.
8.01 is not in sections 1-6 or 9
8.01 events are not subject to the 4 business day reporting rule,as i reported at length around that time -if somebody can find such long posts of mine
still true
still true-
bottom line - execs signed an agreement since ca may 2017(see filings at that time) before the well was spudded - to NOT sell their stock- their stock- an important part of their income-fell just as much as ours- and thus exec pay was much less than what has been posted
still true
this might be a record low share count for a 19 year old company!!
usually a company without revenues for 19 years has billions of shares
also dilution is a tricky word- if what was gained in return for share issuance equals or exceeds the market value of the stock issued financial dilution has NOT occurred
although shares issued in the last yr have increased due to the lower pps,ca only 73M shares for a 19 year old company with no revenues is absolutely remarkable!
Robert Dunn-COO- is a 2d and 3d survey expert as the filings note,and given what zn learned in the exploratory well (as noted many times by the filings), plus the big picture, i choose to believe their unparalled witness will be rewarded.
as a matter of honor zn does not spend what it does not have-
at all times in my memory zn's current assets have exceeded current liabilities- something many blue chips cant say
plus zn has a large potential fundraising group who believe in the cause and thus has had an ability to raise funds-one of the reasons zn was targeted,as we are frequently reminded
both of those items would have to reverse for zn to be in danger of bankruptcy
if push came to shove zn could also relent and sell a % of the license, which delek presumably would like to have, since delek bought 70% of the adjacent license
Thanks for reminding us and presenting the facts
In Feb 2018,when the stock doubled in pps in a short period of time- one or 2 days? ZN noted in a filing or something that zn had received a questionaire from finra re that pps change? -something reputedly very common in such pps situations
but nothing re an investigation at that time, as zn noted
i was in a stock targeted just like zn before-in that stock the ceo was found to have violated some rule re a promo years earlier and had to serve 6 months for the same despite sentencing guidelines saying probation,but after over a year of the sec investigation,including reportedly going through the wastebaskets etc, the company was completely exonerated and all charges against the company were dismissed by a judge,even though longs could never find a letter of dismissal etc from the sec in the swamp era.
from last august as you noted:
The primary zones we have been testing are all located at depths greater than 16,000 feet....We have gained a tremendous amount of geological knowledge, but there are still a lot of unresolved questions that need further evaluation:
Have we swabbed enough completion fluid and formation fluid from zones 16,415-16,500 ft and 16,080 – 16,215 ft to effectively allow for the formation to naturally flow, and will the encouragement of that natural flow, if established, allow for commercial amounts of oil to flow? "
commercial oil could be in the same 5000-7000m zone as leviathon directly to the west-which may be why delek bought in to the concession immeidiately to zn's west-zn's oil shows were near touchdown of 5050m -16600 ft
and zn increased 3d survey plans to 72 sq km,which likely increases the depth of the survey results also, as from articles i've seen there is a correlation between surface size and depth of survey
agree-good to see you post again
10q said 504k raised in april- with only last 6 days being part of the unit program vs the more normal fundraise/month of 333k
but 1.75m was raised from jan 1 to a certain date in feb
logically more than 504k then in may -w whole month of may part of program and logically more in june than april also -with 26 days in the program
504k plus maybe 750k plus maybe 650k -so ca 2M for the may -june- which would be much less than raised before announcing the pilot hole was not commercial-would have to look closer at the jan-feb raise -which i believe was greater than the above numbers/month-but limited time and i'm not paid a red cent cent or a rubber nickel for posting
very true-
and while zn is a wildcatter onshore israel and not drilling in the permian,
the irony is everyday zn is closer to a commercial field than ever while simultaneously sporting the lowest pps ever, due to the things you mentioned etc
so for those who can afford the risk there are potentially very great rewards - june 2018 zn was the 5th fastest growing stock on the russell index at a pps 10-15 x higher or so
we know why zn was targeted so that gives us comfort-after watching the stockholders meeting june 2018,that unprecedented witness eventually deserves a reward
a lot of indicators fully posted before converge in the area of zn's concession
i'm sure that is not lost on delek, who had a 70% buyin of the concession adjacent to zn's concession recently and probably would like to buy into zn's concession if zn allowed
still true- they have essentially always raised more during fundraising program periods than they have drawn-and with their draw a t500korless /month that has been true this time also-i'v reported the subsequent events fundraising etc from filings several times
maybe 40 crow miles- i tired fighting w the graphic
as i posted before from the 10q's etc zn has offices in dallas and israel with 25 employees and their monthly expenditures were reduced to 500k-maybe less now due to filings reporting the streamlining of c-level execs
you cant get work done without paying workers plus contractors
the 500k is much less than for bigger oil co 's
ZN filed a motion to dismiss plaintiffs complaint in the class action Mar 13-in effect a motion for summary judgment(requires no reasonable person could believe there was a case against zn based on the evidence provided)
plaintiffs responded via motion to dismiss such motion
and back and forth on such to the extent zn's motion has not even been ruled on yet-just more legal games designed to wear out opponents-not surprising in dealing with ambulance chasers
https://markets.businessinsider.com/commodities/iron-ore-price
look how much the price of ore has risen-to 104.75/ton
really amazing
amazing
i see you caught that just after i posted re the same
still true, plus the fundraising time frame apr 24- june 6 (which has had an effect of depressing pps bc such funds are diverted from longs buying in the open market)
will most logically -based on past experience -result in more cash available at the end of the fundraisng period than the beginning
and on p. 44 -exhibit in the 10k, the license was extended to dec 2 2020
To:
Mr. Dustin Guinn
Zion Oil & Gas Inc.
Greetings,
Re: License Extension to license “Megiddo-Jezreel” / 401 and Revision to work plan
Reference: Your letter of the 24 th and 26th of February 2019
In response to your referenced request I hereby approve an extension to the “Megiddo-Jezreel” license / 401.up to December 2, 2020.
zn ,including in november 2018, has always said it would be a 6-12 month project -as i posted from the filings before the delay from aug this yr to april next year - 8 months - not one year
i hope the company more fully apprises us of the reasons for the delay - the proferred reason is so the 3d survey trucks dot get bogged down in mud in the wet season from oct to march
another reason could be to save on the 300k required to import vibrator trucks from possibly the usa and then repatriot such equipment back to the usa
if the survey began this august and only 2 months of the necessary x months could be completed for the survey,they would either have to pay to keep the survey tricks idle from oct though march,or send back to the usa and reimport them in late march -early april -paying double the intended 300k transportation bill
so they apparently figure, as per the forecasted cost of 300k, that they would be saving 300k by waiting til next April when the entire survey can be completed in one time-contiguous block
if thats the only reason for the delay,its not something that might matter to a big oil company,given the potential payoff of discovering a commercial field
but to a more cash strapped oil co like zn...
or maybe it was also taking or going to take longer to acquire the israeli permits than zn intially thought- dont know
the only connection i immediately see is that Delek is being forced to divest its ca 25% stake in the Tamar field south of Leviathon, i'm guessing due to Israeli antitrust laws (since Delek owns ca 24.6% of Leviathon also)
Delek is purposefully expanding its outreach worldwide- but if the Cypriot company can add to Deleks fluidity by buying part of Deleks released interest in Tamar(if Israel allows that)that could allow Delek more financial freedom to get into other projects,
though the buyin necessary for a part of e.g. ZN's license would be very little compared to Deleks financial largess. I say that of course because Delek bought 70% of the license immediately adjacent to ZN's license to the West in a direct line to Leviathon.
which one - i dont remember what it said
i'm saying an easy way to see whether he lied about contracts with china etc is to look up those companies and see whether they have any record of contracts with NEWC
violation of fiduciary duty is another obligation and the legal system takes that obligation seriously- if it can be shown he used professional money or trusts for personal purposes e.g.
can you post the letter to shareholders you are referring to
and the community rating is BULLISH!!!
ZN
Zion Oil & Gas Inc Institutional Ownership
$0.46
*
0.0201
up 4.57%
*Delayed - data as of May 30, 2019 - Find a broker to begin trading ZN now
Exchange:NASDAQ
Industry: Energy
Community Rating: Bullish
https://www.nasdaq.com/symbol/zn/institutional-holdings
contrary to misinformation that all institutional holdings were fleeing, there are actually new institutional holding positions willing to ride the spec gravy train,although in this latest period some reduced their holdings also
as i noted before, everybody has had over 9 months since zn 1st dropped below one dollar last sept 25-27,and most are aware that nasdaq accepts almost all reasonable requests for another 6 month period (to jan 8,2020) to show shareholder value of one dollar before they have to r/s to stay on the nasdaq
nyse is even more lax- e.g.,there's another oil co based in Houston(just like ZN),which has had pps near .20-.25 all year and below one dollar for over 5 years! there are other companies like that also
https://www.otcmarkets.com/stock/ZN/overview
oh yes, oh no, oh yes, zn rises ca 25% in the last 3 days,somebody didnt get the message that it was all over
btw, whats wrong with info from otc markets-it available when edgars can only say "no search results found" over and over despite inputting full name of co and cusip #
otc is subsumed under nasdaq and that is partly why thousands of big board,including nasdaq stocks like apple and amazon, are listed on otcmarkets.com
road trip anyone?
legal 'fraud' is very difficult to prove-
you have to prove 9 different elements by the most strict standard of "clear, cogent and convincing" evidence.
so it would be easier to take another route if there is one.
again,research the outside co's referred to in NEWC emails to see if they exist and if they confirm they had contracts etc w NEWC.
https://www.otcmarkets.com/filing/html?id=133...pWNbT3h83h
Just a reminder of the June 12 stockholder meeting,
which has been buried amidst all the noise.
We may learn more re ZN's plans as a result of the meeting
https://www.otcmarkets.com/stock/ZN/overview
up ca 7% yesterday on volume of almost 1 million shares and 12.42% today on volume of ca 566,000
so up almost 20% in 2 days!!!