Zion Oil & Gas Inc (ZNOG)

[geopressure]

CleanEnergy; I speculate that the SEC is investigating Zion for trying to hide the well's potential from ZN's Board of Directors & Shareholders...

I speculate that based on the e-logs & mud-logging data, People within ZN have known that the well was a dry-hole for months now. However, instead of coming clean & announcing that the well was a dry-hole, ZN's management instead opted to run casing on the well-bore and proceed with well-testing (even though they knew that there was no oil/gas to be found in the well).

What I think is truly remarkable is that ZN Management executed another round of fund raised (rights offering) in order to sell more shares, raising capital on a project that I believe they already knew was a dry-hole...

Here's an example of an SEC investigation where a Coal Company did something very similar:

https://www.sec.gov/litigation/litreleases/2018/lr24085.htm

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I think the SEC is going to take John Brown down... It's just a shame they didn't do it years ago and stop him from squandering all the investor's money that has been put into this well...