Zion Oil & Gas Inc (ZNOG)

[DragonBear]

zn has explained that they are not using verses to determine where to drill-they are using geology to drill

Their history has been one to use them.

vast gas and some oil fields are to the west - vast oil and gas fields to the east-some non dry holes to the north-this is fact

The only fact is vast gas fields off shore. Which has nothing to do with ZN.

since the geophysics and the drilling confirmed an active petroleum system in that area the purpose of the 3d imaging is to locate what the exploration well could not find in commercial quantities

No it's primarily an attempt to help the PSPP offering. Saying they are finally going to use 3D instead of using 2D, and verses makes it sound more snazzy. Especially after drilling yet another dry hole.

since the geophysics and the drilling confirmed an active petroleum system

No it did not. No reservoir, including source rocks feeding it. No flow of oil from source rocks. Just trace seepage of what was likely Kerogen through some Oil Shale they had inadvertently drilled through.

the purpose of the 3d imaging is to locate what the exploration well could not find in commercial quantities

As opposed the normal method of performing the 3D first before any drilling.

It is normal today for many holes to be drilled from the same pad-zn's intended modality is to do the same as necessary to intercept bodies of oil shown by the 3d

Normalcy is to drill, and have a producing well, before setting up a pad. ZN's new scam angle is not to setup 3D in the immediate area of the dry MJ1. Instead one has a stated 50km (31 miles) radius around the failed MJ1 well. That's assuming they can get the permits to perform the 3D. Maybe that will limit the radius? My Glo Orb predicts they will PR pump the 3D has found something wonderful 20 miles away from MJ1.

the same sources who claimed a dry hole before spudding

Were correct to laugh, as MJ1 is a dry hole. No flowing oil at any measured rate.

even began laughed at zn for not using 3d and now that zn is going to use 3d they laugh at zn for doing so

It is comical ZN drilled a dry MJ1 well, and then afterwards decided that maybe they should try 3D. The continued amusement is 2 yrs ago they could've performed 3D, and the excuse for them not doing so was that 3D was too expensive relative to 2D. Yet, 2 yrs later all of a sudden it's not that expensive after all. LOL Even less expensive than drilling a dry hole.

pretty explanatory that such opinions are not based on fact

If one wants pure fact, then consider the $32M which includes the MJ lease expense ready to be written down. Ref: Filings with the SEC.