Zion Oil & Gas Inc (ZNOG)

[WiseYoda]

This exactly what can happen here, and if such an update occurs...this baby is going to SURGE!

"We feel that in 2017, we will encounter that first significant commercial production of oil and gas," Victor G. Carrillo, Zion CEO, (https://www.zionoil.com/dspp/).

I know you are aware of this but many here are not:

Zion's prospectus states that the Israel Petroleum Commissioner modified Zion’s work plan deadlines, which was subject to TWO KEY SPECIAL CONDITIONS of Zion signing the drilling contract. First was a detailed engineering plan, and second was the spudding of an exploratory well, which was announced on 6/4/17, (http://www.prnewswire.com/news-releases/drilling-begins-zion-oil--gas-spuds-megiddo-jezreel-1-well-300468402.html.).

The prospectus stated that Zion timely complied with both of the key Special Conditions to their existing license, which was established by the Israel Petroleum Commissioner. Zion provided the fully executed drilling contract on 10/3/16 with S.A. Daflog, S.R.L., an Israeli-registered related party entity to DAFORA S.A., and a Detailed Drilling Engineering Plan for the Megiddo-Jezreel #1 well. On November 29, 2016, the State of Israel’s Petroleum Commissioner officially approved Zion’s drilling date.

Key details outlined below:

1.) Begin drilling / spud well by
June 30, 2017: COMPLETED. Takes approx 90 days to reach the depth of 15,000 feet, which should be completed by end of August.

2.) Submit final report on the results of drilling November 1, 2017

3.) Submit a plan for continued work in the license area December 1, 2017