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Just a point, Givot found commercial oil in the meged field, southwest of MJ1. Yes, they STILL have a commercial license, you know the 30 year one I think. The Golan, it has it as well, but not practical to get. Mj1 is an area that has the same formations that is providing the oil of Syria, yet that is conventional oil.
Point is , it's there, but to your point maybe not commercial. That was said of the Bakkan as well...
We shall see. We even know it's light sweet crude, just like the Bakkan.
Interesting times for sure.
Yes, it's there. How much? Unknown....got to withdraw it to do the math etc.
Yes.
Just a point of note for those watching, the taxes referred to, yeah it's high. I wonder how come the write offs are not included in the statement below?
In short, the taxes are way less until that investment has been recovered. R1/R2.
What does that mean? The $200+ million has to be accounted for before your taxed on any profit. Takes a while to get there does it not...
Those expenses count...
Same 10-k docs.
Convenient to leave out right?
Edit: had to be filled with concrete per agreement....not a we will cone back later kinda thing. There is a reason the drill pipe and casements are still there.
Good video, I watched it and commented on my site. Decent breakdown of where we are.
Thanks and good find.
Not at all the 7 and a 1/2 cents, it has nothing to do with it. It's the fact that it's going up no matter what you shorties do. No news and it holds or goes slightly up with all the things going on there.
Resilient, that's it.
Well this is nice, no news and up.
Good deal.
Ah , same folks doing what they do.
Burns em that the rig is still there.
When will the work start? Not sure as there are more important things afoot.
I will say this, the area in which the rig is, its a mixed bag so to speak. Sure the farmers farm but there are dangers still. There are worse dangers in areas of Chicago.
I am not too worried however, as I am paying attention to what is going on in country and with BiBi. Strange guy, says strange things against America over the years, Biden doesn't like him, Trump doesn't either.
Half the population doesn't. That's the kicker, it's a democracy but a spilt one like ours, not a left/right thing but you get the idea.
So what of the stock? Still 6 cents surpriseeingly, at least for me. I had not added to my position nor do I have plans to. It is going to be a while before anything starts but that is my opinion.
I can assure you, lots of locals have no idea it's even there. Just looks like a coms tower from a distance.
I am no scammer. I am no zionist. I do however hope they succeed. The oil IS there but it will be a hard road to get it.
Good day.
I've been here a long time I do understand the games that are played here
Been tied up, but been sort of watching....been a rough holiday season.
I am surprised we are over 7 cents.
Must be driving shorty nuts.
Thank you, that is good news.
Wow, decided to check on things.....no news and 7+cents?
Hmm
Blah, blah, blah.
Give it a rest, go short bit coin
New fracking technology in poor porous formations? Lets ask?
I have some reading to do, we have time but it would be good to get a grasp of this new tech and how it applies to what will happen on MJ1.
Nanomaterials and Technology Applications for Hydraulic Fracturing of Unconventional Oil and Gas Reservoirs: A State-of-the-Art Review of Recent Advances and Perspectives
Recent advances in waterless fracturing technology for the petroleum industry: An overview
Improving hydraulic fracturing effectiveness in depleted and low-pressure reservoirs using N2-energized fluids
Nothing wrong with hope, nothing at all.
At 0.06+ cents a share, the possibilities are limited.
One thing to keep in mind for all of us. We 'own' a very small portion of ZNOG, the whale(s) own most as they should. That is mostly how these two wells were financed.
Anything can happen but what I wish for is commercial oil, even if small amounts. Why? Then the production license is issued..
That is what I am looking for...
If commercial oil is found, funding will take care of itself...
100K barrels a day is a huge conventional well. This one is not. What we could compare to is the Bakken and Eagle/Ford/Permian. These can get hundreds of barrels a day and even maybe a few thousand.
However, that rock is way more porous than what we have. We have poor porosity, hence the special technology.
That is why we should not expect a huge find. What we need is flowing oil of commercial quantity. Once that is proved, we can then drill more wells. We just do not know as they have not told us the p50. I think KyOil said the Crab report was somewhere in the millions of possible but we just do not know what the 3D showed.
I am excited, but not expecting oil in huge quantities. It could happen but the odds are not good.
Here is a better idea, on my site that I did, I documented what Givot did, and they did have a well flow 1000 barrels or so, but that was just one, the other 5 I think did not flow. So use that as a reasonable maybe. Now add the fact that the technology that Givot used is 20+ years old. That could be what makes this one different.
Did you know that Givot still has a production license? That is what we need, not exploration but production. That is a 30 year minimum. Givots is still active, they just ran out of funds, Zion has not to this point.
Crazy days I guess.
Maybe not, let's see in January, nothing till then.
Very well said sir,
I am not as knowledgeable as KyOil, not even close but I will toss my thoughts in anyway.
It's drilled mostly. If the layers were the problematic ones with MJ1, then it could be a struggle. I think there were two areas, the Triassic and Mohela.
I do not understand the technologies at hand but my understanding is that the 'new' technology allows or assists flows in poorly puorus rock. This would not be massive flow, but hopefully commercial flow. The oil IS there, just getting it out is the trick.
Suppose it does flow and with the pressures we get 100 barrels a day. That does 2 things, proves it flows and allows the thoughts of multiple spots to flow from. The rig can drill horizontally if I remember right. We have the 3d, so we know what directions to drill. The pad need not move.
So what does 100bbd get znog? Investors with deeper pockets. The shares will not get to $1, why? There are 600+ million of them. I think 25 cents is reasonable and that $30+ million of new monies could get larger holes and more of them. Horizontally drilled would be a gamechanger I think. I know not that cost.
As KyOil has aid many times, what is that p50 number. If large, then maybe a buck later after the horizontal is there. Otherwise, we would fluctuate around 25 to 50 cents...
Other things come into play once that 100bbd is reached, that is for another time I guess.
For now, I would say we would know within 60 days from start, whether the tech will get the oil out.
Oh I know, I voted against it.
The whales own it for now, but at these prices, they are not buying, so who is?
Us old timers have lost monies. Why? Non commercial oil up to now. We knew that going in. Your still here for other reasons and it 'burns' you that the rig is still there and the company is still around.
It would make me happy if the reentry to MJ1 produces oil, not to make the monies back but to just make you mad.
Will they? Dunno, lots of stuff going on in that area.
Us old timers have been patient, it's not our timing that counts anyway...
Oil is there, Just as in the Bakken, getting it out commercially is the trick. We have 3 more years to try and no matter how much you complain, we move forward.
600 million shares now...wow, that's a lot of dilution, but they are still trying.
Heck, I might add some shares but I doubt it at this point.
It's holding 5+cents very well for now....and true nothing is happening that I know of, but the rig is there, I know as I saw it late August. Glad I was not there for what is going on now.
One thing you would have to admit though, it's a resilient company.
Beg to differ.
That's what the lawsuit was about. If they lied with the PR, then it would have stuck.
Lawsuits dismissed.
SEC investigation completed, no findings.
Yet, they are still there chugging away, even though many tried to kill it.
The attempt failed.
Oil is there, but we do not know how much, we request the p50 numbers but they have yet to release it. Different location, different rules I guess.
Oh and just so we are clear, they did get the new license. Some here said they would not. Wrong again.
Wrong, they did find oil and you know it, we just don't know how much and If retrievable.
As to Zion Oil, my bet is its that mission statement, and I bet that email really got ya boiling.
Disclosure: I do not necessarily believe what JB stated at least as an explanation of scripture.
Israel is a crazy place and once seen, eyes are opened.
Hopefully the violence stops, but unlikely at this point.
Well, I even think less and here is why. The 3d did not see the full detail needed of just what is down there near that fault structure.
However, MJ1 had 'shows' but non flowing shows due to poor porosity. We are back in the original target area but with new purpose.
I had said in 2019, as givot got it to flow, so shall zion oil. It wasn't to happen then, but now technology has gotten better. It is not conventional in a normal sense.
So many say oil is not there, yet it is there and its light sweet crude.Can we get to it economically?
So if 1 million or 20 million barrels, doesn't matter, once flowing, the hunt is on. What i would want to know is once it is figured out how to get it out, how large is the formation from whence the light sweet stuff comes?
Ah 600 million shares......and counting.
Full disclosure, the share count has now diluted me to the point that it is just a stock I watch. I am pretty much out of the stock market as I can be. I have not added to my share count and do not plan on it. Still, been an interesting ride, learned a lot.
I don't really care about the stock right now.
Fair, they know less than. I....
It's ugly folks, ugly.
Pray, not for Zion Oil, but for peace...
Getting out of hand quickly.
I was just there.....this is not a small event. MOSQUES in Jerusalem are blaring Fight over loudspeakers.
Be careful Bruce.
Abiotic oil.....interesting subject.
Well longs....even with all the noise....
The whale(s) still believe....
The license is good.
We own a rig......
I have not added to my position in a long while, so dilution has got me for sure.
Worried? Nope.
My trip there answered lots of questions for me about modern Israel. Zion Oil is but a minor piece for me.
47 million shares....wow.
We just can't know....
Wr should know but, we don't. Reasons?
Speculation at this point.
Thank you sir, I know not these details but this sounds reasonable.
However, north in the Golan, the strata was > 300m thick, not like MJ1's < 60m. That was north of MJ1. However it's not that far when you see it.
We just don't know because Zion will not tell us. That is telling in itself.
I think they walk on eggshells and after being there, I understand why.
Thanks again.
Very unlikely.
No Garwhar there....
I have stood in that valley. I can concour that this is at least a reasonable consideration.
That well is on Low ground.
I am glad I went , I have a whole new perspective on things, and zion oil is but a minor part of it.
I agree 100% sir, but I wonder how the ministry approved it if there was no such figure.
I hope we see it, for if not, like you say, it would be up to the whales at that point.
I as well, but the big question is answered.
The license was awarded. Fact.
Understand your frustration.
Yet after months of constant negative posting about how there will be no license, at least admit this is good news.
Folks lied to manipulate the situation.
Is it the news stockholders wanted? Yes. The company got a new lease on life.
Remember the goal? We have not completed it, but the constant nagging about the company itself was just proven wrong.
Good day all, yeah you too Bruce, Shalom.
Both here and the hoo, he is quiet.
Might be called a shekel hit.
I guess many will be eating crow now. Up 50% and I guess some are now in the green. I am not but I do not lose sleep over it.
TAB - whomever the whales are, they are still there, but in the background. What a journey this is. The license would not have been approved if funding wasn't accounted for, at least I think so.
We zion stockholders have very few good days of late. This is an exception.
I guess it's you that doesn't get it.
Crow is due sir.
Know the agenda, explains everything.
Edit....glad you found it....
Yes you can, as I have before.
It's dated though.....
Now the small Derrick I tried but didn't see it.
I agree, but I also left the group on my free day and walked to the Israeli museum, about 2 miles, through neiborhoods etc. Never once was it sketchy. The litter caught me off guard. It's not like we don't have it here, but it seemed worse there.