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What makes them abusive in your opinion?
"This so called "largest 3D" covered approx 13-17% of the entire MJ lease, which is still a small area in Israel."
Perspective.
"Also what exactly have they gone on the record with, what the 3D showed?"
Are they required to go on record with everyone or just the Israeli officials?
"And why again did they drill a $20M+ dry hole blind first, and then did the 3D?"
They had performed a 2D prior. It wasn't blind. After the results of the latest drill, they then decided to perform the 3D.
"And neither will they care. The insiders get their salaries regardless."
Caring usually isn't a requirement to be publicly traded. I personally haven't seen that as a highly touted trait in any stock company.
"Let's call it a realistic outlook."
No thank you. I will be happy to continue calling it a pessimistic outlook per the definition of pessimism. And still glad to read that perspective.
"They didn't give the exact API for what was found in MJ1. Only that the API was high."
Just because they don't give out every detail doesn't make this a scam. Being protective of a treasure is smart. Giving a road map to it to other entities would be irresponsible to investors.
"How many months ago?"
Easily found in documentation provided to the SEC.
"What's the average time it takes for a contracted rig to arrive at a site, and be setup for the spud?"
Add in factors of shipping from one country to another during border closings and lock downs. Not sure there is a ton of statistics on that since the last time a pandemic hit like this was during the Spanish flu. Extraordinary times requires patience and flexibility.
This so called "largest 3D" covered approx 13-17% of the entire MJ lease, which is still a small area in Israel. Also what exactly have they gone on the record with, what the 3D showed?
And why again did they drill a $20M+ dry hole blind first, and then did the 3D?
Quote: They may or may not ever find oil.
And neither will they care. The insiders get their salaries regardless.
I actually appreciate your pessimistic outlook as it helps to balance the over optimistic outlooks as well. But I would say the truth lies somewhere in between.
I actually would agree with the statement that this company is not very good at what they do. But to say they arent a real company denies basic truths.
Yes they havent found viable oil in 20 years, but they have drilled oil on a couple of occassions.
They are drilling in Israel and Israel is not an easy country to gain a drilling license in. Which means they have had to go through many steps to prove their worth and viability as a company.
They have bought a rig for the first time in their history.
They now have the results of the largest 3D seismic survey in Israel's history.
I agree they arent Exxon, Chevron, heck or even Delek, but they are an actual company exploring for oil. They may or may not ever find oil. They may not be the Yankees, they may be the Seattle Mariners who have never, and may never, win the world series, but they have fielded an actual team.
I expect the stock to spike as news becomes more prominent, above the $1 mark as you suggest, but I am actually surprised at the pps jumping today. No news to push it as far as I can see.
Lol. I have 27 stocks I am investing in and all but 5 are in the red today. Because of ZN I am green on the day. Usually I have 22 stocks in the green and 5 in red and still in the green for the day. Just saying that when the rest of the market seems to be struggling, its nice to have a ZN surprise.
Are you figuring mass stock dilution in order to raise funds I am guessing?
So a serious question(s). If Viking "takes over" ZION, do you see them continuing to drill in Israel or moving on to someplace else? Seems to me that if ZN continues drilling in Israel after the "take over" then they would have to have some type of information that shows oil in Israel. If they choose to drill someplace else, then why not just start a new company rather than take over a company that has never produced anything and according to some doesnt have a good setup for an oil company?
I am positive you are right. Work to take over a company, purposefully driving it to the ground, knowing you are taking over a scam company that will never find any oil at all. Sounds like a good addition to the resume.
I am actually in agreement with you for most of that information. The location in proximity with the leviathan basin as well as Israeli experts talking about how much oil they think could possibly find is what I am basing my long term position on. But when I read or hear "smoke and mirrors" it usually implies deception and half truths. I dont think any deception has occurred. They arent keeping secrets. Yes, they know the results of the 3D scans, but they aren't allowed to publicly speculate in those results. They are already viewed as a pump and dump ,falsely accused in my opinion, and they are extremely cautious with only putting out truths that they know. The fact that they immediately bought a rig after getting the results of the 3D tells me all I need to know about what they think. No smoke and mirrors, just SEC compliance with what they can publicly release. PS, I am hopeful you are right about the ship. It certainly lines up with ZNs most recent PR.
Sorry, that should read INVESTOR and not INSTRUCTOR. Lol. Apparently I can't splel corrctely.
I am hopeful you are right that it is carrying ZNs rig, but I am certainly not going to mortgage the house on it.
I am an instructor in ZN and have already many a few thousand with this stock, so please keep that in mind when I ask you, are you inferring ZN PR has lied when they talked about the oil not having the right amount of carbohydrons? You use the phrase smoke and mirros. Either it had the right amount and was viable or it didn't have the right amount and wasnt viable. Why would ZN ever want to do a smoke and mirror campaign?
Chevron isn't drilling there because they prefer to purchase the work others are doing instead in the Levant Basin. Who knows, maybe one day they will make a bid for ZN.
Quote: People with better knowledge of the land, didn't bother to enter a bid for the lease.
I would be happy to hear more about this.
I will be happy to let you know if that ever happens.
"The point being ZN has developed nothing. Whereas a real oil company would lease land near where others have found oil, perform a 3D, and successfully drill a producing well within a yr, the ZN story is different."
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That actually sounds like a good plan. Have you worked for an oil company or still do?
You are correct that they have produced no viable oil, no income from the oil and currently no active wells at all. They have produced nothing ... but people with hope, better knowledge of the the land, enough money to buy a rig and drill a new hole, and lots of investors making money. Okay maybe just the short sellers and day traders at this moment, but still. They have also produced long time followers who for whatever reason love to remain irritated with them even though they won't invest in them. That last one seems impossible to me, but here's to hoping that ZN does another thing that some feel impossible- finding lots of oil!
So at what price point did you invest?
No debate on those facts. Truthfully, I have no idea if ZN will find viable oil or not. I am hopeful though.
But past failure can also help for future success. How many years did it take before the phone became a reality? Naysayers said it wasn't possible and then there it was. How many years did it take to invent the light bulb? There were many tries before success. How many years did it take to invent the computer? How many Naysayers were there along the way?
I appreciate the fact that you are diligent in telling people that ZN is not a good investment. At least you are consistent. But I have never taken previous failures to mean there will never be success. We would never learn anything in life if it weren't for personal failures and missteps. That helps us to not make those same mistakes.
If ZN goes bust, I promise to never purchase their shares again - and you might get a sense of satisfaction in posting a note to me that says "I told you so." I will unashamedly receive your reproof. But until then, when I see millionaires and hedge funds investing in ZN, it makes me think I am in good company with the little that I have invested. When I see the big guns leaving, I will know it is time to go.
Thank you for posting. This is good info to consider!
Just curious, I notice that ZN tends to have a big buy at the very beginning of the day and or at the very end of the day. Any of you who have been at this for a while, do you know why it is at those times in particular?
I can truly appreciate the reference and the "famous man" who said it. What I dont want to do is take that so literally that whenever something doesn't work out in the time frame that I want it, then I invoke that law to get rid of it. Sarah didn't bear fruit til she was 90. The prophecies of the freedom of the Hebrew children didn't bear fruit for 400 years of captivity. The prophecy of a virgin to bear a son didn't bear fruit for over 700 years.
The timing for bearing fruit seems to be up "the famous man" and not me. Until that timing has come for ZN, approximately 1.5 million shares will be bought and sold daily. You have the choice to buy, sell, encourage others or complain that they aren't making you money. Although admittedly the book referenced also tells its readers to not complain about anything.
Laws tend to be particular. What tree in Israel is it that you will be asking the authorities to cut down?
If by chance you want ZN oil and gas company to go away, which seems to be the point you are trying to make, can you state the well known and ancient law that the authorities are ignoring to keep it open?
As stated before, if you have proof that ZN is doing something illegal, I recommend you send it to the authorites, SEC I guess. Since supposedly their investigation isn't closed, they might find your proof of wrong doing helpful to their research.
Until then, approximately 1.5 million shares of ZN stock will be traded daily on average with many of those people making a profit and many of those people taking a loss - as with every single stock being traded on the exchange.
I would think that those taking a profit would find ZN stock "fruitful" on those days.
That is a great question which I am unable to answer since I don't work for them. But admittedly, there are certain things that I just don't worry about. Although it actually would be interesting to hear about the day to day work in an oil exploratory business that is only big enough to work on one well at a time.
Not sure they would give the answer if you asked them.
They have probably temporarily started working for Moderna trying to speed up the COVID-19 vaccine.
I guess I have been the same places you have been, because you are regurgitating old news, I guess like you said of finding oil. Interesting enough, though there is no word on SEC concluding their investigation, every lawfirm dropped their cases after ZN responded to the accusations with their show of facts. If the SEC was still serious and if there was enough information to show cause then the lawyers would not have dropped their lawsuits. Every law firm. I also expect that if there was enough information of wrongdoing, they would not have been offered another extention until delisting. I have no idea if they will ever find the hydrocarbons. But if you want to help people then submit YOUR proof of wrong doing to the SEC. Then we can all see the wrong ZN has done, when found guilty.
So you are upset because others have had their money stolen or because your money was stolen? It seems if it was your money that was stolen, you would write the SEC and show them your proof so the authorities could actually do something. If the SEC says there isn't enough proof, then maybe what you give them can help.
Otherwise, the stocks that are sold on the market are an exchange. People choose to do so having done their own research. One person gives up their stocks while another person purchases them. That's not theft.
If you have proof of the injustice and if you want to help the people that are purchasing, and you think an injustice is being done, I would strongly encourage you to work with the SEC and or your financial advisor.
So I just watched the ZN shareholder meeting again just to refresh myself of what information was put out. I was looking for timelines because I keep seeing people talking about the beginning of July. What was said in the meeting is that no specific timelines could be given due to both COVID restrictions as well as approvals needed by Israeli ministries. If you have ever tried to get a business license for a new company, you know it is not as simple as just filling out an application and getting immediate approval. Yes ZN already has many approvals since they have been in Israel for a while, but new rig, new crew, new locations, new approvals needed.
BUT they did reference July 1st as the date when Europe opens its borders for travel and loosens the restrictions. I am beginning to wonder if this is the "mountain" that founder John Brown referenced in his email the last couple of days. If you look at the travel ban opening up in Europe, they have limited it to just 15 countries. The US is not on that list due to the COVID 19 spike in the US. Not sure how that would affect them, but they referenced the European travel restrictions being lifted a couple of times as what they were looking to for moving forward.
What message boards are you seeing the rumors being thrown around?
Has anyone heard anything about whether the COVID restrictions have loosened and whether the rig will be transported this week?
September 8 is the new $1 minimum deadline.