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KyOil, have you had a chance to listen to the ASM? Wondering what your thoughts are? Seems very encouraging to me but I’m not an oil person….
This assumes when they say testing has resumed that the packer has already been installed and doing its job. Why wouldn’t they say they have successfully isolated the target zone from the heavy water? Or is there still risk with the packer not doing its job as they test?
Thanks for your feedback!
I heard a rumor that Zion has applied for a permit to install a pipeline. I assume this is made up. Bur has anyone else heard anything!
I posted this last week, no feedback, try again!
KyOil, your thoughts?
To those with experience in the oil fields - if the well is marginally commercial would it take a long time trying to “squeeze” out all of its potential? Compared to the work involved if it’s a strong commercial well/field. I get if it’s not close to commercial we would have been done testing by now. But does the length of time testing lean heavily to a commercial well or is there equal probability it’s a marginal well and they are taking time to try to get the most out of it? I realize this is likely a hard call with limited info. Just curious where experienced folks are leaning.
To those with experience in the oil fields - if the well is marginally commercial would it take a long time trying to “squeeze” out all of its potential? Compared to the work involved if it’s a strong commercial well/field. I get if it’s not close to commercial we would have been done testing by now. But does the length of time testing lean heavily to a commercial well or is there equal probability it’s a marginal well and they are taking time to try to get the most out of it? I realize this is likely a hard call with limited info. Just curious where experienced folks are leaning.
I didn’t get “warm fuzzies” either. Does treatment suggest the flow is limited and they are trying to get more flow or are the treatments just standard to enhance the flow that might already be pretty decent to maximize output.
Your comment about Mr Starr will be a busy man. I thought board of directors provide guidance and advice but aren’t the doers and they normally already have full time jobs.
I am a little concerned too that we don’t have any “intel” on oil tankers having moved significant quality of “fluids.” I would have thought once they started doing some trucking the world would know.
I 120% concur. I grew up on a farm and work as an engineer with one of the largest ag equipment manufacturers. No way can we feed the world without fossil fuels!! The world has gone a little mad!!!
Are the two replacement tanks larger?
Can someone confirm when these large tanks showed up on the drill site. I had thought they were brought on-site more recently but I could be wrong. Thanks!
I remain cautiously optimistic.
All very encouraging indeed. Many thanks to those that regularly post here with info, knowledge and expertise! Sure seems like we have a winner!!
I’m confused. If they have found commercially viable oil, wouldn’t they be adding wells to the same oil field to grow production before they explore elsewhere? But they seem to be currently doing things as if they are fairly confident they have commercially viable oil. So why apply for new exploration licenses?
I think the 10Q says they have about $8M in cash and just a few weeks left for testing, don’t they have plenty of funds to complete the testing and declare what they found? Then the stock price should jump and would have plenty of interest in funding the oil field development? Or am I missing something?
Would we anticipate much new info in the 10Q?
Very interesting. Crossing my fingers!
What does mean? How might this data suggest the path of the share price might unfold? I don’t have a good understanding of short sales. Thanks!
I am presuming if MJ02 does not quite have commercial quantities they would likely have another target in mind from the same location given what they have learned, so it’s seems to me they wouldn’t be closing up shop quite yet? So alternative 2 not likely? Thoughts?
So does this mean they have a free flowing well? If I understand correctly they would have already conducted flow test of some sort. Any thoughts why they haven’t shared those results?
Any other thoughts on the 10k only referring to a zone of interest whereas other PR’s implied multiple zones of interest?
Thanks KyOil. Your feedback helps a bunch!
So just for added clarity, they could make a P50 announcement based on this one well after they complete all tests on zones for this well? Data from another well is not needed?
Thanks again!
Thanks for your reply. I understand what P50 refers to (to some extent). My question had more to do with KyOil’s projected timelines of his comments.
Thanks KyOil.
So you are expecting they will be able to announce a commercial discovery in a few weeks or months. Is the P50 you referred to on a similar timeline or is that further out with the short covering bump potential to $10 further out as well. Or is the P50 part of the commercial discover with a potential $10 short covering bump that settles back down to $1 to $2?
Of course, all of which is speculative!
Any sense when they might have some data to share based on your experience?
If they announce a commercial find, any sense on high the price could jump initially?
I assume the data they announce based on these tests will still be somewhat limited. Will need another well or two to fully estimate the size of the oil field. Do you think the “big jump” in share price won’t occur until additional wells are drilled and tested? Or will data from this we’ll be enough to provide a very significant jump in the share price?
Thanks.
Thanks for your detailed response. That helps a lot!
KyOil and others,
Is all this talk about completion liners on MJ02 different what was done with MJ01? Trying to get a better sense of how much closer are we to potential production.
Thanks!
That does not seem very big. But I’m not an oil person. What do the oil men here think?
Thanks for your feedback. Do you think if they are using a separator that would be even more encouragement or is it not that important if an aspect?
KyOil and others, could you comment on my previous post?
I read an article about well testing - using separators and wireline formation tester. I assume MJ02 is using both. Does anyone know if a separator was used for MJ01? If not, that would seem to add to the encouragement of MJ02.
I read an article about well testing - using separators and wireline formation tester. I assume MJ02 is using both. Does anyone know if a separator was used for MJ01? If not, that would seem to add to the encouragement of MJ02.
Maybe a 2nd rig, more 3D data, more “looking around” at MJ02 and MJ03? Could be a tall order in 8 months!
Has anyone tried to view satellite images of the drill sight, time stamped every 5 days or so? A person on a Zion Oil Facebook group was talking about that - he thought there was evidence of a road going into the NE corner from the north and maybe some shallow excavation to the East suggesting expanding the site. I tried looking at it on soar.earth. Seems to me it might just be a farmer working the land, but hard to tell as the resolution is rather poor. Most recent image was Dec 11. Anyone else trying viewing satellite images?
Thanks KyOil,
Yes it seems like and I sure hope they don’t need to raise any funds until they can announce something material and hopefully fairly significant!
KyOil,
Could you reflect on my post from last night - thanks!
So if I understand correctly, they are setting things up to raise $300M over the next couple or few years with multiple offerings along the way? That seems like a very large investment!! Seems like really good news to me or am I just being too optimistic and naive?
What would it cost to get an initial financially viable oil field up, running and producing so you no longer need to raise capital?
But if they announce a discovery that warrants this level of development wouldn’t the share price rise significantly so they wouldn’t need anywhere near the 800M shares. This big increase in issuable shares has always stumped me.
So if I understand correctly, they are setting things up to raise $300M over the next couple or few years with multiple offerings along the way? That seems like a very large investment!! Seems like really good news to me or am I just being too optimistic and naive?
What would it cost to get an initial financially viable oil field up, running and producing so you no longer need to raise capital?
But if they announce a discovery that warrants this level of development wouldn’t the share price rise significantly so they wouldn’t need anywhere near the 800M shares. This big increases in issuable shares has always stumped me.
Yes that’s the one. KyOil, your thoughts?
I believe a week or two ago the post a video showing the drilling rig operating. I also talked to them last week and they said they were actively drilling. KyOil how does that fit in your speculation thoughts?
KyOil, does the fact they drilled into this shale mean anything pertinent to the potential for finding an oil reservoir?
KyOil, some here have suggested they could have found a significant quantity of oil but could be working on expanding the licensing to provide greater protection to their find before they announce anything. Suggesting this may be why we haven’t heard anything for so long. In your opinion, anything to this?
Kyoil, wondering about Zion adding 400 M authorized shares. If they discover oil this time around, how much money will they need to develop the oil field to the point of making revenue that would fund continued development and they no longer need to issue shares? Let’s say they announce a discovery and the share price goes to $3. They would have the potential to raise $1.2 Billion. That seems like a lot of money. Just trying to figure out their rational for increasing the size of authorized shares so much. Makes me a little concerned..... it feels like they are expecting some oil but not enough to be commercial and need another well. In which case the share price might hover around 0.20. Thoughts appreciated.