Zion Oil & Gas Inc (ZNOG)

[BrokenB4Blessed]

Just bought 5k shares on open market @ 1.85. Despite the pause in drilling, and the unit program, and lack of news, the fundamental thesis for investing seems to still be intact. The equipment seems to be needed most likely due to increased pressures and so on. Not sure what we'd expect ZN to say at this point to help support the stock price, but I definitely feel this pain too. Obviously I still believe, since I'm probably catching a falling knife here, but I think even with the warrants, and so on, this is currently WAY oversold. This is getting wound for a nice bounce IMO. Hopefully it's not a dead cat bounce, but I'd bet that once drilling starts up again, and we hang on for THE announcement of a MAJOR oil/gas field discovery, this will bounce! There are also MM's that can make this go north in a hurry too, so the upside is getting less on the downside and more the upside. The spread if you will is starting to get smaller between current price and the $1 warrants. I don't think it will be $20+ like some suggest, but I'd say $6-7 range is realistic. It went to $6.90 before on very little news, so be patient and wait for it!