Fully invested in secondary oils (100% long)
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The "kick-off point" will probably be 1665 meters (bottom of the 13 3/8" casing string) in order to have enough room for the production tubing from all the wells drilled at this site.
For the same reason that the insiders didn't.
Here is the list of insider transactions since the beginning of last year...
As you can see, there were a lot more purchases (by exercising options) than sales!
Insider Relation Last Date ? Transaction Type OwnerType Shares Traded Last Price Shares Held
DEVORE RALPH Director 08/01/2017 Disposition (Non Open Market) indirect 10,000 3.9300 253,534
RUSSELL LEE R Director 05/22/2017 Sell direct 30,000 1.6165 195,000
SHEENA ILAN N Other 05/10/2017 Sell indirect 43,148 1.9100 222,500
SHEENA ILAN N Other 05/09/2017 Sell indirect 74,352 1.8500 265,648
CROSWELL MICHAEL B. JR. Officer 04/18/2017 Option Execute direct 15,000 0.0100 392,000
GUINN DUSTIN L Other 01/17/2017 Option Execute direct 235,000 0.0100 310,000
CARRILLO VICTOR G Officer 01/12/2017 Option Execute direct 150,000 0.0100 560,693
VAN BRAUMAN MARTIN Director 01/11/2017 Option Execute direct 120,000 0.0100 455,587
BROWN JOHN M Director 01/11/2017 Option Execute direct 50,000 0.0100 1,140,000
PERRY GLEN Other 01/10/2017 Sell indirect 10,000 1.2990 269,964
SHEENA ILAN N Other 12/31/2016 Option Execute indirect 52,500 0.0100 525,000
CARRILLO VICTOR G Officer 12/30/2016 Sell direct 15,000 1.3500 130,000
CROSWELL MICHAEL B. JR. Officer 12/29/2016 Sell direct 8,000 1.3533 42,000
VAN BRAUMAN MARTIN Director 12/19/2016 Sell direct 8,000 1.2800 349,587
CARRILLO VICTOR G Officer 12/19/2016 Disposition (Non Open Market) direct 40,000 0.0100 425,693
VAN BRAUMAN MARTIN Director 12/16/2016 Sell direct 8,000 1.3000 357,587
VAN BRAUMAN MARTIN Director 12/16/2016 Disposition (Non Open Market) direct 14,000 1.3000 335,587
PERRY GLEN Other 12/06/2016 Sell indirect 10,000 1.3186 279,964
PERRY GLEN Other 11/17/2016 Sell indirect 5,000 1.2407 289,964
PERRY GLEN Other 11/14/2016 Sell indirect 5,000 1.2380 294,964
PERRY GLEN Other 11/11/2016 Sell indirect 5,000 1.2384 784,928
PERRY GLEN Other 11/11/2016 Sell indirect 5,000 1.2384 299,964
PERRY GLEN Other 11/10/2016 Sell indirect 5,000 1.2005 394,964
PERRY GLEN Other 11/10/2016 Sell indirect 5,000 1.2005 304,964
SHEENA ILAN N Other 10/05/2016 Option Execute indirect 2,500 0.0100 472,500
SHEENA ILAN N Officer 07/05/2016 Option Execute indirect 2,500 0.0100 470,000
AVERY WILLIAM H Director 07/01/2016 Option Execute direct 100,000 0.0100 555,000
CARRILLO VICTOR G Officer 07/01/2016 Option Execute direct 50,000 0.0100 465,693
VAN BRAUMAN MARTIN Director 04/27/2016 Sell direct 3,000 1.7500 245,587
VAN BRAUMAN MARTIN Director 04/26/2016 Sell direct 15,000 1.7400 248,58
SHEENA ILAN N Officer 04/04/2016 Option Execute indirect 2,500 0.0100 367,500
PERRY GLEN Officer 02/18/2016 Option Execute indirect 25,000 0.0100 145,000
CARRILLO VICTOR G Officer 01/05/2016 Option Execute direct 75,000 0.0100 430,693
SHEENA ILAN N Officer 01/04/2016 Option Execute indirect 2,500 0.0100 365,000
http://www.nasdaq.com/symbol/zn/insider-trades
Other than a small (10,000 share) gift, there have been no insider transactions in the last three months...
http://www.nasdaq.com/symbol/zn/insider-trades
The rig will not be moved, but new wells will be drilled in different directions from the same location to target specific reservoirs for production... This will be done by using the existing well down to a certain depth called the "kick-off point" and then it will be "side-tracked" from there.
Filled Buy to Open 5 APC Oct 20 2017 49.5 Call Limit 0.95 -- -- 14:51:33 09/29/17
The reason they don't know exactly how deep they are going to drill, is because they don't know the exact thickness of the sedimentary rock layers that they plan to drill through (because no other wells have been drilled in the area).
Wow! That's awesome! 7.3 days to cover!
Yes tisdal, that's correct, and now that that large block is out of the way, the stock is free to advance with less resistance (bullish).
It means there was an imbalance between the buy and sell "market on close" orders (more sells than buys).
The first day of the month was a Friday...
So today is already the third Friday of the month!
tisdal... this is what I said...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=133688975
tisdal... I never said that!... They ALREADY HAVE exclusive rights to the entire formation!...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=133962906
It is customary for geologists to use local names for certain rocks in sedimentary basins world-wide... (Austin Chalk, Bartlesville Sandstone, etc.)
Hydrocarbons are molecules formed primarily by carbon and hydrogen atoms.
Crude oil and natural gas are composed of hydrocarbon molecules. (Hyde and HC)
Permeability is a measure of the ease with which a fluid flows through a rock. The units are millidarcys or darcys.
Water is usually brine, or ancient seawater that has more salt than the 35 parts per thousand of salinity that seawater has.
The meaning of the colors depends on the software. There are a multitude of computer programs in use throughout the petroleum industry.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=134537383
BEER SHEVA, MID JURASSIC, L. HAIFA/ZOHAR, etc. are simply geological names of layers of sedimentary rock.
Moses... I am not sure about those colors, but I do know that it is an oilfield and not a gas field, because they found "non-commercial amounts of oil" in the last 3 wells that they drilled on the outer limits of this same formation (there was no mention of any gas)... There is probably some "solution gas" in the oil, which will bubble out and become natural gas at the surface... Also, an "oil-water contact" has some oil in the water, and some water in the oil.
If you study this idealized well log, you might be able to figure out what some of those tracks on the Zion log mean... Good luck!
http://www.slb.com/-/media/Files/resources/oilfield_review/defining_series/Defining-Log-Interpretation.pdf?la=en&hash=3DD25483EEE6EBAA69320AF7612AB9E9C4066993
No, just oddlot sales take one day to settle!
Also, at exactly 1:35 at the very bottom (where red number 1 is written in) it has the same thing typed in (HYDROCARBON W FAIR PERM & WTR)... This means that they have not just one, but several producing zones in the first 2000 meters!
This is an old video which clearly shows they have discovered oil!... In Track 7 there is a red number 6 (hand written in) at 1625 meters where it is typed "HYDROCARBON W FAIR PERM & WTR" which means "crude oil, in rock that has enough porosity and permeability for the oil to flow into the well without the need to do any fracturing!" ("water drive" is the best drive possible, with about 80% of oil in place recoverable)... This is great news, because it means they had a successful well almost right away! (with much more to come!)
ROTFLMAO!
Re: Noble Energy...
As of December 31, 2016, the company had 1,437 million barrels of oil equivalent (8.79×109 GJ) of proved reserves, of which 68% was in the United States, 23% was in Israel, and 9% was in Equatorial Guinea.
Of the company's total proved reserves as of December 31, 2016, 62% was natural gas, 15% was natural gas liquids, and 23% was petroleum.
In the United States, the company's primary holdings are in the Wattenberg Gas Field / Denver Basin in Colorado, the Delaware Basin, the Marcellus Shale, and to a lesser extent, in the Eagle Ford shale.
As you can see, those gas wells that Noble Energy has in Israel are peanuts compared to the giant oilfield that Zion has!... I seriously think Zion has at least twice as many barrels of oil equivalent as Noble has world-wide!
I think Zion management has the experience and software to handle the entire operation in-house... Of course they will have to continue to contract drilling companies, logging companies, pipeline construction companies, etc., but I wouldn't be surprised to see them build a refinery, and a chain of gas stations, and become a major oil company!
tisdal... if a small wildcat oil company discovers a giant oilfield, it has every financial institution on the planet beating at its door to provide the capital it needs to develop the field... It does not need to issue stock or warrants, or merge with any other company!
tisdal... the most recent short interest is unchanged from the previous report, which means that the short-sellers are able to borrow the shares that those who are covering their positions no longer need... (As long as short-selling does not exceed short covering, there is no need to search for additional shares to borrow.)
Because I know how the independents operate!...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=133688975
Large block trades often occur at bottoms and tops...
(probably a short-term bottom, which means the "ascending triangle" is still in play)
Bullish because it maintains the high short interest ratio...
(number of days to cover)
Aha!... so we "Gap (up to 89) & Run!"
LETS "ROCK & ROLL!!!"
tisdal... that is an excerpt from this report, which we now know, was way too conservative!
https://www.zionoil.com/wp-content/uploads/2015/11/Resource-Assessment-Report-Zion-Forrest-Garb-Assoc-1Sept2015.pdf
According to recent updates, they are "very excited" about fractures, high pressure production zones, etc. that they didn't expect.
The formation is a "combination trap" (both structural and stratigraphic) because it consists of an anticline and and 3 separate faults... It is triangular in shape, and the first three "delineation" wells were drilled on the extreme points of the triangle... Now, this first "production" well is being drilled in the mid-point of the triangle, which is why it has proven to be so exciting!
The fact that they used such a powerful rig, with such wide-diameter casing is proof that they knew they were probably going to find much more oil than that study had estimated, even in its best-case-scenario imho
and I predict a big "Gap & Run" Tuesday!
(in spite of the absence of any meaningful news)
Middle East Oil Fields...
The large petroleum traps of the Middle East were formed by plate tectonics. Almost all the Middle East oil field traps are anticlines and domes. The mid-ocean ridge in the Red Sea is causing Saudi Arabia on the Arabian Plate to move northeastward and collide with the Eurasian Plate. The Persian Gulf area is being compressed between the two plates, forming the Middle East Field traps. The deformation becomes more intense in a northeastward direction from Saudi Arabia toward Iran and Iraq and forms the Zargos Mountains. Saudi Arabia alone has 85 fields with 325 reservoirs containing 25% of the world's oil reserves.
The Ghawar field in Saudi Arabia is the largest conventional oil field on earth. The trap is an anticline 174 miles (280 km) long and up to 18.6 miles (30 km) wide. The reservoir rock is fractured and dissolved limestone, the Jurassic age Arab D Limestone with an average oil pay zone of 200 ft (60 m). The reservoir rock is not very deep (-1,500 ft or -457 m below sea level). Salt layers in the overlying Hith Formation are the seal. The source rock is a Jurassic age black limestone. The average production of a Ghawar well is 11,400 bbl of oil per day, and the field will eventually produce 82 billion bbl of oil. The oil is 32 to 36 degree API gravity and has 1.7 to 2% sulfur.
Nontechnical Guide to PETROLEUM Geology, Exploration, Drilling & Production
Third Edition
Norman J. Hyne, Ph.D.
Come-on bears, was that the best you could do?
Congratulations, and I totally agree!... Look at this...
After Hours Trading
9/1/2017 05:59 PM
Last:
3.69
Change:
+0.22
Volume:
1,000
Let's Rock!!!
How Much Oil is in the Middle East?...
http://www.geoexpro.com/articles/2014/02/how-much-oil-in-the-middle-east
Why So Much Oil in the Middle East?...
http://www.geoexpro.com/articles/2010/01/why-so-much-oil-in-the-middle-east-cd8a38e3-b5f5-462e-979e-2b3bb804dcee
and I already am betting money that this is just the beginning of "Primary Wave 3"... I think you are going to be left behind holding the bag!
That chart clearly shows extremely low volume on the break-down, which is a classic "bear-trap"... In any case it is now trading in a very narrow range between 2.58 and 2.68 so no reason to worry about a reversal yet.