KyOil, As always, I appreciate your perspective. The Units Program has the appearance of desperation. I can't see retail funding this any longer based on where we are and where we've been.

I just don't know what narrative would inspire retail to continue buying ZNOG. As for those holding the bag, having gotten ZNOG to this point, they continue to get hosed as dilution continues.

Quick question: How many times has an exploration company ever re-entered a non-commercial well and converted it into a viable commercial well?

If ZNOG was trying to get oil out of an oil tanker full of oil, they’d still come up dry.

Where is a letter of encouragement from John Brown? Does he still have “faith”?

Israel has abundant resources. Zion doesn’t appear to be the company to access those resources.

I still hold shares, but $0.14 means nothing.

Pitiful....I believe this is the end of ZNOG my friends...How will they recover from this?
I can't see a future at this point.

I'm encouraged by the PR today. I gather from this PR that we are closer to the goal of a production well than we were yesterday. There are no guarantees, and as a long term investor, I understand that to always be the case, until there is factual evidence of the well's viability.

https://www.worldoil.com/news/2022/10/3/zion-oil-and-gas-reports-encouraging-results-on-exploratory-well-in-israel/

Will be looking to buy more shares today.

WiseYoda, I agree, yes you can make money, but

You make the swing trading and scalping sound easy…
Please let everyone know that it is not easy, and requires extreme discipline and lots of time and plenty of capital.

When I was trading as a young man, back when Bid/Ask where fractions, it was easier. But what do I know?

Microcaps, Well said. Threshing and winnowing has come to my mind often as the years have gone by. It’s clear to me that ZNOG is viable and will deliver.

Watchman806 propagated the rumor.

I found this to be informative…

I do not track daily short volume, so not sure if this is more or less than normal.

https://www.shortvolume.com/?t=ZNOG

There is gonna be a lot of hooting and hollering at the shareholders meeting. I’m really sad I can’t be there.
I know those on this board will represent all of us decade long stock holders well!

The next stage of this operation is going to be a lot of fun to watch, and make up for all of the years of getting our brains beat in by this stock price.

Jackleg

Wow Tisdal! A flare stack!
Let’s go!
Keep flying drones over the Zion MJ02!!

Question for you experts out there:

How do 800K shares get traded (20% of the entire days volume) in the last 5 minutes of the day, and the stock price moves less than 1.5%?

I can't locate the time and sales, but this seems to me to be askew.

Jackleg1

Lishious, "Ongoing operations include well stimulation and DST testing". Here's a link to what I believe they are working on.

A 3 year extensions seems significant, VERY significant. Especially if it is granted by the current administration.

Any comments from those on this board on what this is likely means?

Asking for an extension of this length would certainly mean they believe they have a good reason to be there for the next 3 years, right?

Simultaneously with the new exploration license filing, Zion has submitted a petition seeking administrative approval of a term of three-years for the #428 exploration license under Israel’s petroleum law.

Zion Oil & Gas Operational Update for License #428 in Israel

Zion files for a new exploration license in the Megiddo-Jezreel Valley.

DALLAS, Texas, and CAESAREA, Israel, May 11, 2022
Zion Oil & Gas, Inc. (OTCQX: ZNOG) files for a new exploration license in the Megiddo-Jezreel Valley on the same 99,000 area as the previous #401 license and the current #428 license.
“This new exploration license application will further our current and future work plans in Israel,” stated Vice President and Managing Director in Israel, Jeff Moskowitz.
All well-testing, completion, and stimulation equipment are at the Haifa port or on location in Israel for the next phase of Zion’s operations.
Zion’s MJ-02 well has been completed through casing, liner, and cementing. Ongoing operations include well stimulation and DST testing. All necessary equipment to conduct the well stimulation and DST testing are in-country despite the global logistical backlog.
Simultaneously with the new exploration license filing, Zion has submitted a petition seeking administrative approval of a term of three-years for the #428 exploration license under Israel’s petroleum law.





Zion Drilling Rig in Israel. Photo taken on November 22, 2021.


Zion Oil & Gas, a public company, traded on OTCQX Best Market, explores for oil and gas onshore in Israel on their 99,000-acre Megiddo exploration license area.




“The Lord Himself goes before you and will be with you; He will never leave you nor forsake you. Do not be afraid; do not be discouraged.”
Deuteronomy 31:8

“Sing to the Lord, for He has done glorious things; let this be known to all the world. Shout aloud and sing for joy, people of Zion, for great is the Holy One of Israel among you.”
Isaiah 12:5-6




FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations and the results therefrom, including testing and completion; Zion's ability to discover and produce oil in commercial quantities; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts; the timing and completion of the processing, interpretation of the results and plans contingent thereon of the 3-D seismic survey; regulatory approvals needed for the rig’s operation; the effect, if any, of the coronavirus pandemic on the timing of the operation of the well, and liquidity for shareholders on OTCQX are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties, and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.




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This is pretty embarrassing, but in full disclosure, I bought 200 shares in November 2008 for an average share price of $6.375.

When I wasn't paying attention, and was a lot dumber, I bought more shares for almost $9.00 thinking we had a gusher...it was nothing more than the Russell 3000 Index Rebalancing. (don't judge me)

I had to learn the hard way.

Lushious,

Reading the entire text from Luke 5:4-11 is meant to be an encouragement, and IMHO, is a meaningful corollary to what has taken place with ZNOG's search for oil.

I confess, I have struggled with trusting JB. I have also been compelled, for reasons I can't explain here, to continue to invest in ZNOG.

I will also say, if MJ02 isn't a producer, I will be surprised, and will have to exit my position.

Jackleg

For the those with expertise in the oil business:

Looking at the photos from April 5th, 2022 in the latest PR. https://mailchi.mp/zionoil/operations-update-2022-385824?e=54ac4bd013

Is there anything in the images worth noting? The "Christmas Tree" apparatus is massive. Maybe 20' tall? Why is this apparatus being put in place?

There looks to be a large puddle of dark shiny liquid on the deck, to the left of the apparatus. What is that?

Will somebody please explain what the hell this PR means and what if anything can be gleaned from the images?

Indeed, the lack of PR is purely precautionary, and the best course forward at this point.

IMHO, they should only say what is absolutely necessary while completing well testing: provide reliable, concrete data, not only to shareholders, but to a strict Israeli Ministry (documented previously on this board) when it is available.

What’s more, if the board and leadership intended to defraud, I.e. Christian affinity scam, the means of defrauding includes the purposeful misleading shareholders by providing false information. You can’t con someone without making false statements. It’s better to say nothing.

In some ways, I prefer the course they are taking by only relaying basic information out of precaution, and simply get the job done.

Patience will be rewarded.

I’m going on 15 years, and never felt better about where Zion is right now.

Blessings to all.

Lushious,

I agree with you. How is it possible for no one to know something? It's as if Zion doesn't even know what they have...

And yes, please someone who knows what they are saying, please interpret. What the heck are they trying to accomplish, and why?

Is this good news or bad news? It feels like No News at this point.

To make sure those reading the message board are clear on the definition of the ANCTA from the S-3 filing.

From the S-3 filing… Proven Reserves…. ACNTA…
Who said anything about a bunch of Oil???

Adjusted Consolidated Net Tangible Assets” or “ACNTA” means (without duplication), as of the date of determination, (a) the sum of (i) discounted future net revenue from proved oil and gas reserves of the Company and its Subsidiaries calculated in accordance with SEC guidelines before any state or federal income taxes, as estimated by petroleum engineers (which may include the Company’s internal engineers) in a reserve report prepared as of the end of the Company’s most recently completed fiscal year, as increased by, as of the date of determination, the discounted future net revenue of (A) estimated proved oil and gas reserves of the Company and its Subsidiaries attributable to any acquisition consummated since the date of such year-end reserve report, and (B) estimated proved oil and gas reserves of the Company and its Subsidiaries attributable to extensions, discoveries and other additions and upward revisions of estimates of proved oil and gas reserves due to exploration, development or exploitation, production or other activities conducted or otherwise occurring since the date of such year-end reserve report, which, in the case of sub-clauses (A) and (B), would, in accordance with standard industry practice, result in such increases as calculated in accordance with SEC guidelines (utilizing the prices utilized in such year-end reserve report), and decreased by, as of the date of determination, the discounted future net revenue of (C) estimated proved oil and gas reserves of the Company and its Subsidiaries produced or disposed of since the date of such year-end reserve report and (D) reductions in the estimated oil and gas reserves of the Company and its Subsidiaries since the date of such year-end reserve report attributable to downward revisions of estimates of proved oil and gas reserves due to exploration, development or exploitation, production or other activities conducted or otherwise occurring since the date of such year-end reserve report which, in the case of sub-clauses (C) and (D), would, in accordance with standard industry practice, result in such decreases as calculated in accordance with SEC guidelines (utilizing the prices utilized in such year-end reserve report); provided that, in the case of each of the determinations made pursuant to clauses (A) through (D), such increases and decreases may be estimated by the Company’s engineers, (ii) the capitalized costs that are attributable to oil and gas properties of the Company and its Subsidiaries to which no proved oil and gas reserves are attributable, based on the Company’s books and records as of a date no earlier than the date of the Company’s latest annual or quarterly financial statements,

Yes, there’s speculation, however, the level or degree of speculation until the past few weeks has been
based on nothing more than JB’s vision and a common thread of “faith”.

Comparing the speculation of the past to the speculation of today is no comparison. It’s like speculating the earth is round living in the 1600’s and speculating the earth is round in the 2000’s.

We will see whether there are rumors, or whiffs of rumors, or if this is just some further price manipulation as we’ve seen a hundred times with Zion over the years.

We will know over the next few days if the price action today is rumor based speculation or just manipulation.

Either way, I’m glad to see us over $0.25 and close to my cost basis.??

Just an amateur's perspective...

Over the past 10 year as an investor, I've NOT witnessed the level of activity and preparation that we are seeing today. What are they preparing for? As I see this activity, I hear the words "MJ #1 has successfully demonstrated the existence of an active petroleum system"
https://www.zionoil.com/updates/zion-oil-gas-confirms-active-petroleum-system-in-megiddo-jezreel-1-well-in-israel/
Additionally, the preparation for further exploration of the "petroleum system" seems to justify the 8 months of testing they have been granted by the Ministry, from an anti-petroleum government, I might add. Why did the Israeli Govt provide another 8 months to do anything with this license?

Compare the activity and preparation of MJ1 to MJ02 for just a minute.

MJ02 has felt like nothing short of a production well, from the beginning, and continues today. Dilution has destroyed the share price, but I cannot help but notice that the dilution is what has funded this well. I'll take the dilution if the investment if it means we have a production well.

Buying and holding more shares this time around has made me pucker at times, (prudence says I should hold and sit back and wait for results) but as so many have said, I would hate to be chasing this stock on the way up, and truly it's now or never.

I firmly believe that the people on the ground believe, they have a commercially viable well, and not just a small discovery, but a big discovery, which justifies all of the activity, preparation and dilution.

Let me take this opportunity to thank all of the ZNOG supporters for their longsuffering, and patience, and contribution to this board. I am personally grateful to be on this journey with each of you.

Blessings to All,

Jackleg

Moses,

Thank you for the image of the drill site. I can see the oil water separation at the middle bottom of the pond.

Did you happen to notice at the bottom left, below the drill site? Has that area of the image been photoshop'd? The image is smudged and doesn't match the surrounding terrain. Seems peculiar. Perhaps a parking lot full of oil tankers? Another settling pond? Maybe they are only protecting the photo of the parking lot so that cars aren't identified.

Anyway, I'm not drawing any conclusions, but thought I would mention it and see if you see the same thing.

Jackleg

Jmaruschok,

Thank you for your post.

I was not aware that the shares were being diluted.
As a shareholder, I feel we deserve to know what's going on, but I also expect ZNOG to be acting in the best interest of shareholders as they face some likely, unexpected problems that need to be overcome (and paid for). Truth is, I don't really care what the stock price is today, what I really care about is Zion finding a large quantity of oil. Once that is done, the share price will be taken care of, IMHO.

My suspicion is they are fighting a battle at the well. They are not concerned about what the share price does today, they are focused on the mission. The mission is to find oil, not maintain an attractive share price today. I concede that they haven't drilled a successful well, but as long as they are actively pursuing it, my shares are not for sale.

The cycle of the short sellers seems to have arrived (they rinse and repeat the same talking points (i.e. dry hole, scam artists, charlatans, stupid Christians)). Its seems to me to be more likely than ever that the shorts get torched with a production well being drilled as we speak. When the PPS turns around with a PR, it will do so rapidly.

Jackleg

The silence indicates 1 of 2 scenarios, no oil, or lots of oil.

RE: John Brown's message to supporters today...Virginia Prodan...

For goodness sake, we have to be patient.

It does beg the question: Why in the world would Virginia Prodan agree to be a ZNOG Board Member if there was the slightest hint of shenanigans? (i.e. Drilling a production well hole to dupe investors for another 12-18 months)

People who value their good name, do not publicly join a board unless it will reflect positively on them, and there is some value in being a board member.

Not to mention Sarah Caygill...you think she needs whatever Zion is offering the board while they dupe investors publicly? not a chance.


Sarah Caygill – Director
.appointed a director in June 2021, is an experienced financial analyst, portfolio manager, asset allocator and independent board director. She began her career in London at Chase Manhattan in 1984 and subsequently worked as an equity analyst at BZW and Schroders in London covering French equities. In 1990 she joined Sweden’s Trygg Hansa SPP, a major Scandinavian banking and insurance firm, as a portfolio manager, with responsibility for French, Spanish and Italian equities. In 1993, following the Swedish financial crisis, she moved to JP Morgan’s Private Bank in Geneva to manage advisory portfolios covering Europe and Emerging Markets. She then ran both institutional and private portfolios as a Vice President of Canadian Imperial Bank of Commerce, also in Geneva, with responsibility for European Consumer and Services sectors. In 2000 Sarah launched White Mountain, a European equity long/short hedge fund and she later joined the main investors in the fund, Canadian-based Arrow Hedge Partners. She established Arrow’s European operations, including manager due diligence and selection for its global fund of funds, also serving on Arrow’s investment committee. Over her career as a fund manager and advisor, the funds and mandates Sarah managed and advised outperformed their benchmarks and peer groups.

Since 2011 Sarah has served as an independent director for alternative funds and absolute return funds, management companies, foundations and corporations across a range of jurisdictions including Cayman Islands, Luxembourg, Switzerland and Ireland. She is a member of AIMA (The Alternative Investment Management Association) and 100 Women in Finance. She is also a panel director of IPAF Group (Industry Professionals serving as non-executive directors to Alternative Funds).

Sarah holds a Masters’ Degree in Modern Languages and Philosophy from Oxford University. She has both British and Swiss citizenships and is domiciled in Geneva, Switzerland.

Today's update is not much of an update.

What does "modified drill plan" mean?

Anybody know what "specially ordered components needed" might be??

Related to shale formation?

August 23, 2021
Update: MJ02 In Israel
NEW UPDATE:

Dear Zion Supporters and Shareholders,
We know many of you look forward to each new update on the Megiddo-Jezreel #2 (MJ02) well project with eager anticipation as you walk alongside us in this journey. There have been hurdles along the way — including increased COVID-related delays and interruptions to operations while we awaited specially ordered components needed for our modified drill plan — but we can thankfully confirm drilling is now proceeding effectively on all fronts of our updated plan.
We have faced no serious security concerns to date despite continuing unrest in the region. Our crew remains both safe and unhindered in their exceptional work. We appreciate all your continued prayers.
As always, we are ever thankful to our loyal shareholders and supporters. We will continue to provide updates when we have relevant information to share with the public.

Sincerely,

Rob Dunn, Zion CEO

To All:

Patience friends, take courage.

I know it's tempting to think the worst, fear and run. We've been here before, and it felt like the Egyptian Army had us pinned against the Red Sea when MJ01 came in.

Now, what I am hearing is what it sounded like to Moses: You all sound like the slaves coming out of Egypt. “Because there were no graves in Egypt, have you taken us away to die in the wilderness? Why have you so dealt with us, to bring us up out of Egypt?" There are many reasons why there is no PR, but there is so much focus on the worst outcome.

I can think of several plausible reasons why there's not been a PR. Most likely, they are working to solve a problem, and rather than report a problem, they want to solve the problem, then explain it.

As for the "cell phone theory" - I would imagine that there might just be some agreements that prohibit employee's from making any comments, or showing photos of what happens behind the fence at the drill site. I could be wrong.

Just a reminder - as JB says: "wait for it; because it will surely come, it will not tarry."

We've been here before. I still think MJ02 is for real...whether or not its a gusher? God only knows...

From the EPA.GOV website. https://www.epa.gov/sites/default/files/documents/flowofgasandwaterinhfshalegasreservoirs.pdf

“Shale typically serves as a cap rock to prevent escape of fluids”.

This would be consistent with finding oil trapped lower down, based on this basic research.
A shale formation of any size would prevent fluids from rising higher.
I’m no expert and look forward to hearing from some of you who know what you’re talking about, but at least it’s possible that drilling successfully through the shale formation would mean they are tracking towards a fluid trap. Oil is a fluid, right? Maybe a tad bit of hopeful thinking.

Jackleg

To all - Let's not forget the geopolitical implications of a discovery of any significance in Israel.

I am weary as the rest of you about being uninformed, but I will not sell my shares prior to news of MJ02.

I agree that if this well doesn't have it, then what are they doing over there, and why waste the money to drill a massive hole - there are alot of other ways to fleece people.

I think, they think, they are gonna hit oil, and that's what they are doing, and we will soon find out.

Looking for some news today - not a story from JB, but news of operations and some indication of petroleum. TODAY after the close.

Wait for it.

Jackleg

Tisdal,

I agree 100%. I've been scorched by a scam or two over the years, and this isn't one at all. Because they are an honest company, I will hang in there as long as it takes.

To be honest, I doubted we would survive MJ01 miss, the delisting, the lawsuits, the shorts, etc. I really thought it was the end. I can't explain exactly why I hung in after another dry well, but I'm glad I did. It really wasn't much of decision really. I'm in for the long haul.

The journey of being an investor in ZNOG has a reward all by itself. I can't explain exactly why I have enjoyed this journey without making a return - maybe its just being a part of this story - the story of faithful people who have their hope in something greater than the current reality.

IMHO - they are on the verge of a large discovery and we will all be having a different discussion in a very short period time.

Until then, blessings to everyone - including Porgie et al.


Jackleg

I agree. Quick question: Why would one of the Board Members have a dream about the number of barrels of oil, if they did not know if there was any oil in the well?

In other words, a dream or vision about an oil discovery is different than a dream or vision about the particular production volume of a particular well.

Did anyone else think about this? Maybe I'm grasping at straws.

We will know soon enough.

I can't believe the price is still less than $.50/share.

Jackleg1

From John Brown: Message on 6-29-2021 3:58 in my email.


To: Zion Friends and Family
Subject: The Oil of Israel (Deut. 8:9)

Recently, one of our Board members said he had a dream in which he felt God gave him about Zion and the oil to be discovered. While he said God gave him a number for the barrels of oil to be found in our MJ02 well, I do not know for sure if that number is correct or not, so I asked God to confirm it to me in Scripture and a sign. And, these were the verses that God gave me. (Joel 2:28) and (Acts 2: 16-19).

The dream was confirmed to me but not the number of barrels of oil. So I am personally praying and asking God for 30,000 barrels of oil per day.
Now, I believe “By faith” in (Mark 11: 22-24), and if you also do, then pray with me. But it is only “By Faith“ (Heb. 11:1).

Wow. I'm not sure what to make of this...only to say, its hard to dream about how many barrels of oil there will be, if you don't first have the idea that oil will be found...I join JB in his prayer for 30K!

As of the June 9th shareholder meeting, I understood that the target depth was another 1,700 meters away.

Wouldn't they be really close to target depth about now?

Let's say they can drill 70 meters per day, 6 days per week, that would put the well at target depth within 24 working days, or 28 days including Shabbat.

I expect some sort of PR very soon...

Monroe1,
That’s fine, tell the story to a new audience…
however, for shareholders of more than 10 years, the show was disappointing because it was the same story we’ve heard for many years. This is the fourth well I’ve been a shareholder for. I don’t know if I have a 5th well in me. Let’s find some OIL! If ZNOG makes a discovery of oil, the entire world will know about it and marketing to a million people will be meaningless.

Patiently waiting and accumulating shares,

Jackleg1

Agreed...the show was not about ZNOG, it was about Israel and was edited in a way that did not provide any guidance for shareholders.