Zion Oil & Gas Inc (ZNOG)

[tisdal]

green dolphin, you may be right but low

I think this 10q has clearly shown that Zion is on to something. The only thing holding us down is the selling coming from the current investors as they sell to take profit and then buy more units.

I do not think we are seeing short selling at this point, at least not long term short selling. this is too dangerous of a point in Zion's history to go long term short. News could arrive at any moment at this point. I think the smart short position holders are out or working their way out of this stock at this time. That has been our support at these levels. I think the next two short position reports will verify this.

What we have at this time is a potential oil find in the Megiddo Jezreel Valley. Big or small is anyone's bet, but from the signs Zion is reporting from the well, it appears to be a good size find. We shall see.

What we will see from here is those selling the stock to buy more Units meeting the demand of those who wish to accumulate the stock (i.e. smart institutions that do not want to be a part of the unit offering, or MMs who will run this stock through the roof once they have accumulated enough shares to make a large profit).

Please note: This is the first time in a long time that Zion released news and the stock didn't take a big hit. This alone is a positive sign indicating the shorts are done pushing this stock down (at least for now). They will be back if there is any sign that Zion is not going to make good on the potential promise of MJ#1 or if and when they do another Unit offering.