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What is NPV? Net production volume?
Thank you for confirming that Mojito, I mean Mohilla, was missing from that chart!
ZNOG is up 218% from 11 cents on 4/5/22
ZNOG was up 40.68% this week in four days of trading. Absolutely amazing!
I agree with your point here. Why tell people to verify their shares by voting unless they had value?
US Army medical corps from 1984 to 1991. Was in Germany when the Berlin Wall came down. Going into East Berlin was like entering the twilight zone. It was so different from the west.
KyOil, why are there black pipes on the derrick since the well is complete? Thanks
I like your thinking.
And your posts in general are excellent.
I totally understand people’s frustration with the cryptic update today. For those of you who have done escape rooms, it reminds me of the clues one might get in an escape room game. But I interpret this optimistically. I feel like they have plans to develop a large field with multiple wells and the three-year exploration lease is to allow further dwelling of new wells while they convert MJ2 to the first production well. And when you look at the two scripture verses at the end of the update, I see them as very positive taken together with the update. Plus I agree that it’s very positive that they don’t talk about any fundraising. So I remain quite hopeful.
I invested in Zion early March 2009 after reading a Joel Rosenberg book where he mentioned Zion Oil. I bought 100 shares for about $14 a share. So I have ridden this train for a very long time, like some of the others here. I have been optimistic in the past at times and at other times wished I had never read his book. But I feel this time things are truly different and that our faithfulness will be finally be rewarded.
Apparently the production solutions international LinkedIn post is not related to Zion. It did not make sense as Zion was at 4000 m back in June. And they reached target depth in December so they would’ve pulled the drill pipe at that time. Ah, the rumor mill
https://stocktwits.com/Jmassie2/message/430730780
Baker Hughes liner video
YouTube video about Weatherford liners
Encouraging post from StockTwits about drillers not ordering completion liner unless they have a good reason to do so.
https://stocktwits.com/LIGHTtheCANDLE/message/427172998
This link takes you to Production Solutions international’s LinkedIn page. Shows two pictures of MJ2 rig and drill pad and the link talks about wireline and slickline testing “for a great customer”.
As others have discussed this company is a subsidiary of the Mitchell group. I find this to be very exciting news.
Big John timber talks about this on the Yahoo! finance ZNOG blog also.
https://www.linkedin.com/feed/update/urn:li:activity:6873490614856491008/
It’s been a real roller coaster this week for Zion. Exciting Monday and Tuesday as the stock ran up with very high volume on Tuesday. Then in typical Zion fashion it fell back Wednesday. Followed by a rather disappointing 10 K which caused fear of how much it might drop Thursday. But it actually held up pretty well considering the 10 K. And then finally an update which between the lines seems very exciting. There was some consternation Wednesday reference the 10 K not saying anything about a lease extension. But it made sense that if they were optimistic about the well and had good oil shows, that they would really be negotiating a new lease or a production lease, plus there’s still three weeks till December 2. Hopefully tomorrow will be a big up day, followed by a steady upward climb.
Big like to that!
Summary of Wed Phone call to Investor Relations:
I called Mr Andrew Summey on Wed August 8th and spoke for 15 minutes. He was as forthright as he could be. We discussed why they moved. Their lease was up and the new building is cheaper and the owners threw in the signage on the top of the building FOR FREE. Space had previously been a legal office and was unoccupied for a time. They are on the 10th floor.
RE why so many CFOs thru the yrs, the main reason for turnover is that other businesses would offer better pay/packages and lure away the CFOs.
Zion has 10 full time employees at their Dallas office.
When I asked him about future plans, he related how Noble Energy ran into some issues with Israeli bureaucracy and royalty payments 2 yrs ago and for a time shut down operations in protest. So in a sense, they paved the way for Zion to have better success in working with Israel, in that Noble could afford to fight back with lawyers and reworked some things for the benefit of all future oil companies in Israel that Zion simply couldn't afford to do or fight.
RE geopolitics, he was unaware of that being a factor in Zion's progress or announcement. But he did say that the Israeli bureaucracy had slowed some things, and we now know the well testing requirements are pretty involved. He related the Israelis have a saying that their country does well in spite of the government.
RE the hiring of Mr Guinn, he had been on their board in the past, and had called ZIon about working for them, if I understood correctly. They valued his international experience in that part of the world, and he had many connections of who to call or use.
I asked more about John Brown and Andrew revealed to me how JB invested $20 million of his own money in Zion. I was not aware of that. And I don't know any affinity scams where they do that.
Andrew also said that I could post about the call.
I think we'll have news by 7pm Wednesday. (Andrew said nothing about that, just my opinion)
Great posts Tisdal and KyOil; thanks.
JRyan.
Quote from 10-K: We will need to raise funds in order to drill our next exploratory well to the desired depth and to conduct any post drilling testing that may be required.
I read this as simply a matter of fact statement saying they don't presently have the funds to start another well, but I don't read this as commenting on the success of MJ #1.
Totally agree
VERY optimistic about John Brown's email. In the past, as the well testing has drawn to a close, he would ask for a prayer for successful completion, which would make me nervous. Today there is no prayer. The last paragraph of this email 3 TIMES (which is biblical for something important) affirms that the promises will be fulfilled. IMO, this tells me they have been blessed with success. Very excited. Don't know the timing of the announcement, but hope that it is this week.
Price prediction: $12 first day, $24 next and then $30. (Huge find!)
Just watched several You Tube videos of John last night. That man is not a crook. How could anyone pursue this vision for 37 years? There was no money at all in the beginning for him. He has incredible faith, more than me, and is being used to deliver oil for Israel. Think how he has been ridiculed all these years for his faith and vision, like a prophet of old.
I like this and the last several posts about financing. I too love that they closed the offering May31st, without an extension. No need to test secondary zones when you have a winner. Time to give us the scoop. Secondary zones may show lots of natural gas, imo.
Thank you JRyan! You did a thorough job of responding. I live near ZIon and will visit their office Wed afternoon for a chance to tour and ask some questions. I'll post later that day.
While on Zion's facebook page, I finally found the infamous Fuzzy Panda Shorts, where he brags about sending info to the SEC.
I am long and do not endorse his position, but posted his link for those who want to review his article, which was posted just over a year ago. Obviously a very negative article. I have heard others on this board complain of fuzzy panda, but I had no idea who he was.
I do wonder why so many CFOs over the years, and have some concern over the board's compensation, in that it seems excessive to me relative to the work they do.
On the issue of not using 3D mapping, I don't know what the cost differential is vs 2D, but understand that Zion felt the 3D was too expensive.
Sorry to stir things up, but would like to hear some counter arguments to his allegations or points. Thanks.
https://l.facebook.com/l.php?u=https%3A%2F%2Fseekingalpha.com%2Farticle%2F4090576-zion-oil-and-gas-drilling-dry-holes-til-0-will-bankruptcy-court-extreme-dilution-get-first&h=AT3y05vWPtzCTPnOC7mM7m3pl5AkGsf-ppUFgiy-YxwS_EcUHD4odgdFvAOv1j3BC7bWi3Z7tsvr-NlrWe_MOcTKnCi2eQFURfDID5T2RXadyiwfeclHonUmu727sSrZO5XvHZs
DUSTIN GUINN QUOTES 2018 ZION OIL & GAS ANNUAL MEETING OF SHAREHOLDERS, PART 4
OPERATIONS UPDATE BY ZION PRESIDENT,
27:30 mark: “When we circulate the well, we have oil that comes back. Praise God. That doesn’t happen! That doesn’t happen.”
28:30 mark: “And there is still success to be shared. I know we are in here to find commercial amounts of oil and gas. But we are also in here to tell people about (faith reference, removed to avoid deletion). And I can tell you, we are going to be successful.”
So this tells me what I need to know. They have found commercial oil and can’t wait to share it with us and the world. They just have to complete the testing, and we all know that this has taken longer than we wanted, for various reasons, but truly the end is now within 2 weeks.
What the guard really said was "No oil trucks today, sir. That was last week" They edited out that part (just kidding)
That was me. You pay a tax for the conversion, due 4/15/2019. It's based on your current tax rate, so if that is 35%, then 35% of the value moved is due next year for the conversion. If your rate is 25%, then 25% is due. So if you move $20K, you would pay the IRS $2500-3500, depending on tax rate. YOU DO NOT OWE MONEY NOW. Big advantage then is if Zion eventually goes to say $30, you owe NO cap gains for your profits/gains. My financial advisor told me about this.
Of course I would advise you to talk to your accountant, if you use one, for their thoughts too.
KyOil, thank you so much. I just spoke with my son, who works for Oxy Petroleum and recently moved to Houston from Midland TX after 2 yrs there. I had him read the ZN updates and in his limited experience as a UT O&G engineer (top of his class), he was blown away by the gas pressure and feels that the well would have great oil flow for at least 2 months. After that, stimulation might be needed. Of course he would love to see the data. His only concern was the ratio of gas to oil, and that the temp of 162 C might cause a higher amount of gas. He saw the oil mixed with the drilling mud as a very positive sign, and liked the geology too.
Tisdal, thank you for your many excellent posts. They are encouraging.
RE the ongoing testing that we are anxiously awaiting, how much does the 3.5 inch pipe at the target depth delay or affect the testing process?
On another note, do you or anyone else have any thoughts on the odds of Zion getting low cost loans, or a direct investment, from the Israeli govt to further develop the field, even if this well shows a good reservoir but MJ#1 is not "commercial"? That allow Zion to really ramp things up. Thanks!
Well I love the post. Does your friend still feel the same way?
I was on FB and saw this repost from ihub, in relation to the May 17 Zion public update on operations at MJ#!, and wondered who posted it.
From a recent post on Ihub: "Ok guys, I just got off an hour long phone call with my go to guy on oil field knowledge. This guy drills and consults on HPHT everyday and has been the business since 1977 he knows his stuff and is honest as the say is long. I sent the new picture of the well site and the list of equipment we have been told about. He said "looks like they have a tiger by the tail". The equipment is right and no way would be there if there wasn't a high probability of a major find. My understanding is this well has high down hole pressure, I think that because of repeated mention of well control tools. My question to him is it possible to have high pressure in a well and have no oil or gas. His answer was no. If there is pressure like that then there are hydrocarbons. I mentioned the time they were reaming this well getting ready for the wireline and found free flowing oil in the drill mud, He said Oh Hell Yeah! Buddy they are on it! So there you gave it, great info from one of the real West Texas Oil Men.
I think we have a winner!"
First post for me to this board. Been following iHub Zn board for 6 weeks or so. First bought Zion March 2009 after reading a Joel Rosenberg book where he mentioned Zion. I've been to Zion's original office on Greenville Avenue in Dallas, as I live near Dallas. This board is interesting with all the back and forth, and MUCH better than Yahoo's board. I enjoy seeing so many people express their faith. It's been a tough wait for the findings, but I too feel that they have oil, and a lot.
I tried to get my dad's financial advisor to buy some Zion stock for my dad's account (my dad has memory issues), but he was negative, as he doesn't really understand the faith aspect of Zion. Plus some oil guys that he knows say that Israel is too expensive to get oil out of the ground, that it is all shale rock.
By the way, I am LONG, with many shares and calls. The recent drop in price has allowed me to continue accumulating. Have most of these holdings in a Roth IRA to avoid cap gains, when it hits.