Zion Oil & Gas Inc (ZNOG)

[DragonBear]

Question if they truly believed they have been hot on the trail of oil, wouldn’t you expect Zion to move as fast as possible

There's no trail to follow.

wouldn’t you expect Zion to move as fast as possible (sure with respecting religious holidays) and use the freaking 3D seismic scanner to begin with??? Rather than 2D view which is nowhere as detailed.

There original story was they couldn't afford it. Even though from memory the expense is something like 3X for 3D over 2D. Thus, they obtained/bought old 2D to decide where to drill MJ1. And precisely where they drilled there were numerous faults guaranteeing no pockets of oil.

Their latest PR fulfills what I predicted: They would proclaimed they are looking to drill in another location of their concession a few miles away from the MJ1. Only thing new was the switch to 3D, which all of a sudden isn't that expensive after all! LOL

While the Brown gang tries to PR pump the virtues of this area, and the delays which will occur to map out 3D data, a ZN SH should be asking: If there is all this wonderful oil just waiting to be discovered in the area, then why did all of the large international oil companies never show any interest in the area for the past 30+ yrs? They didn't get large by avoiding places where oil is located. What companies with working non-dry wells are on the directly adjacent land to ZN's concession? There seems to be none.

What is known is Israel has large areas which has Oil Shale or Kerogen, not to be confused with Shale Oil. It's possible kerogen is what was seeping through the MJ1 rocks. Where kerogen might be described as a super light form of oil. Although technically it's not oil until converted by cooking it. Ah, anything goes in a PR. Would need $100 Brent to be economical.

Next up on the predictions for the Brown gang in this scam is after performing their 50 sq KM (or less) 3D around MJ1 they can announce they have found something over the hill from MJ1. Time for another PSPP offering to raise funds for a 2nd well. Then just recycle the theme of MJ1. Gotta wait on the rig to arrive. Weather, and religious holiday delays. Need new local permits- whatever. Start drilling, and recycle the themes of the MJ1 well. Followed by another dry hole result. Butt that should be good for another 2 years, and multiple PSPPs. Gotta fund management salaries. Which is management's goal - string it out over, and over. The only thing management has to worry about is the SEC taking em out in the next 1-2 yrs.