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YES
I feel the same way!
Water based mud & the video.....
I need an explanation of this.
-3rd party conformation of what is there.
- Formation was indicative of having the potential to produce.
- May 6th - information gathered was submitted to Israel.
- Long range plans then submitted to Israel
- What happened?
-This makes sense, they did NOT tell us this was going on at the time.
-Shale Bridge causing issues at 2800m.
-DwC - tech employed - This caused delays. Listen to the explanation. Did NOT work originally. Torque ring failed - now wait for new bit.
Some luck? Prices and orders, we order BEFORE the rush!
**should have told us then!!!** A new path was decided by this time. We were at the first in line. Supply Chain issues.
-Re-drill 700m with the right equipment.
-Worked and then continued to TD in Nov. 21.
-Safety Issues and they followed... I get this!
- Shut down & logistics issues.... Yeah I get it
- Quarantine issues, Hot shot parts, and whatever. I dealt with this as well. only 2 weeks for the workers. WOW. Costly, uhm yeah. ** we as stockholders should have been aware of this!!
- DwC bits have issues
- Post drilling- Well completed
- Completion and testing phase...
- protect shareholder information at this point!
- HE DID A GREAT JOB IN THIS - Listen to it!
Q&A session - I am not going to comment on this as they were obviously hesitant at this point but I cant help myself, proprietary and the like. Material Impact? Well they have already shown that is not the case. I just cant explain it. Tisdal - he was looking at your list! I will give it a shot.
- relations good with Israel and the locals.
- MJ1 communications are out now!
- Completion testing of MJ2 into 3Q. (not Texas)
- John Brown leaves the meeting - <<< ???
- Pressure on service providers? Oh my do I get this. Do NOT bite the hand that feeds you!
- Do we have oil - when a 3rd party says we do! Audited results only. Protocol with Israel is in place! He said it! Protocols! 3rd party confirmations needed.
- MJ2 producing? Dodged it but understand it.
- New licenses? No speculation allowed
- Last PR - listen to what we say.
- Questions call us? Well not real responsive the last couple of weeks, BS.
- Done
Well that is it, nothing bad that I can see, but again nothing good either. At least I am not pissed off. They at least did that.
John Browns comments,
Ok it was hard for me to hear him but my take was not bad, just that the time is not today or tomorrow but it IS coming and soon.
I can understand how folks would take that, if they could hear him. I had issues but I got most of it. What does strike me is the mask. He is worried and that is his choice. I did not take what he said as bad news. I did not take it as good news. I took it as continuing his message.
Still, I get the feeling that he controls little anymore. I do not want him to retire, just sit on the board and consult. His job will be to make sure the vision is continuing but doing so in honoring the Lamb in every step.
That is my opinion.
My thoughts...Todays meeting.
First I did not hear John say that but I was distracted and got back and the price was crashing. I am home now and will watch without distractions.
I purchased more, some at 0.22 and 0.2049. Almost the last of my powder. Yes I must be crazy but here is why I did so. In listening to the difficulty of drilling and the new technology used, I was impressed and somewhat mystified especially with the pressures and what the 'special' tech allowed them to do. I was also impressed with just how difficult it must have been to have to quarantine folks for 2 weeks in a motel and provide delivered meals. We should have known about these many updates ago, I agree. I will not make excuses for them on this one but in my mind, those were tough times for many companies and I wonder if they really expressed how difficult that would have been. I know this as I was working on a large project during these times and it was a mess but nothing like what he described. So I have little sympathy for that part. It took me 2X times to get things done with all the lockdowns and such but we had nothing like Israel had. Nothing, I was in Texas at the time. He was explaining supply chains and difficulties, there was a time that I was buying copper at $2.20 a lb. I knew it would not go lower, but lead times, oh my and I saw it in 3Q2020-2Q2021. They were a mess, I can only imagine what the issues were there and I thought a good job was done explaining that. Again, they should have told us at least part of this, no details but an idea of what they were facing.
I was impressed with the new technology used but was surprised by the statement that they did NOT see that with MJ1. That the whole layer was displaced. That confused me and now that I have the download and will watch again with new eyes, I will digest it better.
The Q&A session was odd. Andrew seemed uncomfortable and they did not answer my submitted question of " Are there discussions of a 2nd drilling rig?". He said they were flashing by so fast but I will once again give them the benefit of doubt on that one.
So what positives did I see and hear? First, this is the deepest well ever in Israel. All the way back to Elijah1, I said GO DEEP. Yes Tisdal is right as I do give credence to the Abiotic theory, not because of what I have read, but because of what my dad told me in the 80's, and he was in the business. I used to read the Oil and Gas Journal when it came in.
Second, Zion now has experience in the area that NO OTHER company has. Yes some will say "experience losing money" and that they do have, no pun intended because I have been there with them. We have a deep hole with a 6" casing and the well was completed. It would be bad due diligence to spend that if nothing was there or they had nothing to go by.
Third, the term lawsuits was not mentioned but it was present in every way, Dunn stumbled many times with that and wanted to say things that he knew he should not. He was frustrated, that is the way I read it. I need to see JB's comments as I did miss those.
Fourth, while watching me loose so much so fast, my heart sank. Yet not once did I enter a sell, I had a buy in my que, I was just adjusting the price I was willing to pay. Downward I will agree, I had a large order in for 19 cents and then I had to leave..
Fifth, nothing I saw or heard made me think MJ2 is Dry, quite the contrary, I saw hesitation to mention anything that would say either way. I have to assume, they are continuing the plan, ignoring the noise (including me), and pressing on. Why finish the testing if nothing is there?
So folks, I have said for years, risky as heck and nothing has changed. That is my take and I am no oil guy but I am still in it. What has changed is I might sell on the next bounce to recover my initial investment, and with my cost average now that is VERY feasible. The tough part is I have been sturdy about not selling any significant shares. The monies I have in this will not change anything for me on the down side, a risk, a big risk, but so is my 401K which I moved to cash a couple of months ago. I saw daily drops that dwarf my losses in Zion Oil. So I moved what I could out. No longer in that game, but I still believe in the mission statement, and I know oil is there, somewhere. I have had no dreams or revelations about Zion ever, just a gut feel. I am now emotionally attached, and therefore probably screwed, but I accept that.
Good day all, and now to watch the entire thing without distractions.
* Disclaimer, I am no where near a 13g, so don't worry.
I saw it and the first thing that popped into mind was where is the new drilling area? :)
A man is allowed to dream.
I will be watching around 6pm..
I agree, they at least need to calm investors before the meeting.
Added some myself today.. 25%
Working on that DCA (0.03897). I went green yesterday at one point and really did not change any thinking. I had some powder sitting there but transitory Brandon is taking that from me at 15% a year so why not?
I could be stupid but I am happy.
I will see what happens.
Now where is that PR at? Zion you listening ?
Ah that makes better sense then.
Thanks
Well that would be nice but someone would have to take fire-watch while the troops are out or we would have speculation just like this.
I like it but doubt it..
Voting call to TDA
It appears that you only vote once with no matter the number of shares. I am not sure about that but I think I had voted the shares from my old account that I had before the date announced etc. I have bought many more since in a newer account, including today's drop but I can not vote them.
So if I understand this right, I have as much voting power as Mr. Ellis? This does not seem right nor does it make sense.
Well that would suck and bad.
I voted the shares I held by that date, of course added more including this morning.
Would not that be a hoot? No meeting? Odd. Never heard of such.
I have request for the sleuths...
I would like to know the history of the Zion Oil and Gas Mission Statement.
If I am right, they changed it, but when. I know it was not after MJ1, it was before. My guess is upon the request of the new license area and capping Elijah 1.
I have a hunch, but in bed for now.
Was up 3 cents, took a nap , wake and we are .30.
MMs or just dampers?
We need news today. Good news, not great but good.
Thank you, that answers my question.
Edit what a good site sir!!! Bookmarked.
It causes another, then whom is the 2nd party from the 10Q?
From 10-Q
Does the waiver mean they do not have to disclose?
An individual would have to 13g, but an entity? There were 2 different ones.
There was chatter about a wealth fund or something being the 2nd, but not a name.
Only Mr. Ellis, whom I am grateful for as without him we would not be here on pins and needles waiting.
No drilling rig or MJ2.
One is not allowed to take pictures of employees I would think. Recognizable ones anyway.
Updated Some..
Pioneer Natural Resources
Reserves = 2.222 Billion (2021)
Production Costs = $30 a barrel ???
Shares outstanding = 250 million @$279
Market Cap = $67 Billion
Occidental Petroleum
Reserves = 3 Billion (2020)
Production Costs = $30 a barrel ???
Shares outstanding = 937 million @$70
Market Cap = $65 Billion
Using my spreadsheet
Zion Oil & Gas (If Commercial & Developed)
Reserves = 1 Billion (Est for this purpose only)
Production Costs = $30 a barrel ???
Shares outstanding = 800 million @$35 (too high)
Market Cap = $28 Billion (too high again)
So if we have 1/10 of this, 125 million barrels, then $4 a share - $3 Billion market cap.
So I guess it boils down to what we have found if anything.
Interesting to note that Pioneer doubled during this time while Occidental stayed the same. Shale is in play for sure.
Thank you,
I tried to go into detail with MJ1 and that post took me forever to find here:
Valuation and Reserves - Hard Data 2018
I will have to dig through it and see how it would look now.
Thank you sir
Nope - Will Hold for now.
Normally I can not watch trading. Today was special. I am in awe how the MMs can crush something in minutes. 10+ million shares, 4 million in 15 minutes. WOW!
The neat thing is for a little while I was in the green. It did not change my attitude any. That was important for me to know how I would react.
I held.
Seems reasonable to me. Quick and easy.
Do you have calculations in the formulas that adjust for oil price and shares outstanding?
It's in the same range as the one I did and the better version from Google docs.
Today will be ride no matter.
Well back from vacation, hopefully will be a good week and we will get some pertinent information.
Agreed. Good summary.
Well I can't say you're wrong.
I want to know what they found in order to complete the well and do DST. These 2 things differentiate mj2 from mj1.
Yeah there is excitement and I think it's a good thing. This has a while different feel.
Maybe a comparison of the two wells side by side? I am indisposed at this point and time and I do not know the jargon well enough.
This would be one KyOil can do from memory.
While I agree that we might not get an answer, we had better get more information than encouraging hydrocarbon shows. Something is different, yet I know not what it is.
Reservoir size is hard to see being huge at this stage. Abiotic could be true, the verdict is still out on that.
I have reasonable expectations of something that would cause them to complete the well to the degree they have and spend funds on DST testing.
Two sets of meetings 1000s of miles apart for a nothing burger? I don't buy it.
It could be only 100 barrels a day, who knows. It could also be dry. It could be gas.
older article
Here is what zion said about amounts. So I am sticking with 100 million barrels.
Giggles to see what happens. I have lots of shares and have sold a few years ago to pay account fees. That account got so small that I added more to it and of course got some shares at 11 cents, then more at 20.
My cost average was in the 2-3 dollar range, in this account it is now 0.75. That is my IRA, zion is now 75% of that account but its a small account.
I opened another to trade away cash for something inflation proof and got out when the market was tanking. So at that point, I decided to buy many more shares. Avg is 24 cents. Even with that I am down thousands of dollars but around 50 cents I will be green.
As for reservoir size, I am still hoping for 100 million barrels, as I can not see how billions would be feasible with only drilling one well. If a field, they will need multiple wells to size one that large.
Exciting times yes, but as we both know, we have been here before. Yet, that being said, I think our odds are far greater than MJ1.
Yes, a good day today, watched the last 10 minutes and that girl was strong.
If it keeps this up I will be total in the green.
Had a 1000 sell order at 0.45 :).
Just to see
Still have my 500 share sell order at $10 just for giggles.
I am paying attention.
Good enough sir.
Many of us have been here for years, and we have been more tolernat than most.
Zion, take note.
We are at a precipice, yes we shareholders have dug for information anywhere we can get it. Point taken buy YOU.
If there is nothing then tell us. By your silence, I deem it something else. I do not think billions of barrels, I think commercial. I will take what I get.
If, however you have given us the mushroom treatment, then the noise will have been proven right.
I believe in your mission statement. Live up to it , or cone clean.
In His name, be truthful.
Agreed sir.
This well IS different but as always there are no guarantees.
Zion is tight lipped and as I have said I think I understand why.
When the bashing comes it will be relentless. It is not at this time.
Yes, that is encouraging to say the least.
It was the public perception at the time. I did some articles on Givot and how they got the oil, Ratbike taught me a lot about it. Granted, this was years ago but the costs in Israel compared to the Permian where astronomical at the time. The trucks in and out, the sand, the water needed, and on and on. I asked zion about just this, I was told specifically that Zion is conventionally drilling for oil only. I have no seen where that has changed.
Let's go further down that road, Genie and what Afek found in the Golan. What happened? Timing is crucial. When did Trump agree that the Golan was Israel's? What was oil priced at? This in my opinion is no different than the Alaskan wildlife refuge. It WAS drilled in the 80s by BP and locked down.
Interesting times for sure.
Fair enough, I just remember how that talk was discouraged last time. Visibility is crucial.
Wow what a morning, shorty is quiet. 2.7 million shares already! Price is not bad either.
Caution, as I have said, fracking as we understand it here is NOT in the cards. No horizontal drilling (yet). If this well is commercial, it's conventional with maybe some 'working' of the well.
This is exciting for sure, but so was MJ1 until it wasn't.
Still, I am excited just watching.
Yes it is!
Bruce, Just so you know, the private nature of the board did not start that way. It was open.
I had to restrict for 2 reasons, 1st was the spam drug offers, 2nd was the noise. It became a place for storage mostly. Research could be saved and not deleted.
You would be surprised at the traffic. Mainly in the technical section. KyOil, and others posts are recorded.
It serves its intended purpose well.
If zion oil becomes commercial, then the history is recorded. If they dont, the struggles of Zion Oil and some of the obstacles encountered are recorded as well.
Interesting that you travel there. Your probably a member and I am fine with it, just behave unlike some did. I think I have only kicked 3 or 4 in 4 years. The information there is free to all, just as here but with less restrictions.
Most of all, zion oil has NO say in what is posted and that is important, as I do post negative stuff as well.