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Re: dby03 post# 25510

Saturday, 08/11/2018 5:48:08 PM

Saturday, August 11, 2018 5:48:08 PM

Post# of 54125
I think a modestly sizable group of hedge fund types took share positions AFTER the news that there was hydrocarbon evidence in the deep mud. They appear to have begun doing so upon the release of that news. They did not wait until the release of well testing results. They already decided to buy into this puppy.

I emphasize the word "AFTER" because the testing did not need to be completed for buying to have already happened. And the buyers were pro's.

We all fight back and forth over the same small patch of idea-land and the pro's have already made up their minds.

Hmmmmmm?!?!?

The company, last week, told the world, via an official Edgar filing, that they will run out of money about 45 days hence, and they lose the right to spud a second well aabout 45 days after that. They could have filed for an extension on their filing, couldn't they?

But they did not do so, did they?

Hmmmmmm?!?!?

They had the right to get an extension, and not only that, but their filing was done earlier than the last minute deadline.

Hmmmmmm?!?!?

IMHO, it is far more likely there is oil in them thar depths than that there is NOT.

Looks that way to me, anyway.

Just my opinion.

Imperial Whazoo

EDIT: I went back and reviewed last week's SEC filing and I discovered that my initial recollection that they lose the right to spud the 2nd well about 45 days after the Sept 30, 2018 "run-out-of-money" date was incorrect. As such, it is wrong fto have gamed out the conclusion in an earlier post that they have a very short window to spud the 2nd well. This is the exact wording from the filing:

Therefore, Zion now has until November 1, 2018 to decide on and provide a continued work program for our license area and until late in 2019 to spud a 2 nd well

Since I do not want to post incorrect ideas, I am posting this correction. They have a lot longer than I originally thought to post their test resul;ts and this means that they are not pressed for money raing as urgently as I originally thought. I apologize for this error and wanted to correct it ASAP.

"Just my opinions, folks. Do your own due diligence & make your own decisions. DO NOT... I repeat... DO NOT make any investment decisions on my comments. They are my opinions. That's all they are... OPINIONS."

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