Zion Oil & Gas Inc (ZNOG)

[DragonBear]

The point of my question was that there is no expected number of wells that Zion should find oil within.

And given they have not found any oil in any well drilled, then it can be said ZN has met your expectations.

The analagy of trying to find oil in my backyard is not relevant as I am not in need of energy independence.

Geology determines whether oil will be found. Not whether an individual or nation desires energy independence.

And to say that Zion drilled a blind hole is wrong as 2D seismic is more that adequate in locating the area of conditions favorable to finding a commercial strike.

The ZN results suggest otherwise. Subsurface structures can easily be missed by 2D.

but you must concede that 3D seismic is SIGNIFICANTLY more expensive (up to 10X more costly) than 2D.

Wrong. The difference is 2X, with the going rate at $85K/sq mile. How much has ZN spent total on their dry hole? And they couldn't afford to spend $85K for the sq mile surrounding the spud site, before they started? Where did they ever publish even the 2D data?

Zion has stated that they may use 3D going forward to help zero in future wells

May? Zero in on a pile of rocks no one was interested in?

Lastly, there have been no insider sales this year (the chairman did GIFT a few shares)

Gifted shares aren't reported when the "Gift" shares are dumped by the gifted. BTW - where do you think the $250K base salary for Carrillo comes from? It sure isn't from oil revenue is it?