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Re: None

Monday, 04/08/2019 2:04:30 AM

Monday, April 08, 2019 2:04:30 AM

Post# of 54125
just a quick run through:

without bothering to look up official working capital- as of dec 31 CA of 5.37 M exceeded CL of 4.83M for a net of .54M

plus 1.715M raised jan 1- feb 25

plus estimated -based on prior filings 1/3 M raised monthly via DSPP program during periods without a specific fundraising appeal- is ca 375000 extra DSPP from feb 25 to April 30

is ca 2.63M minus op expenses of ca 600k(maybe 550k with victor gone) = ca 1.65-1.8M plus any plugging expense not already paid

an earlier zn chart re 3d expenses-will have to look up- may have allocated 2.5M to actual survey-maybe 1/2 up front-and 1/2 on completion-using an escrow acct

so on contracting may need 1.25 m for escrow acct for survey
if so that may leave only .5 to .6M available as of May 1

i've expected another raise in May since the dec-jan raise only raised 2M during a bad time for fundraising- incessant emotional appeals from non profits from dec forward

anytime from now through mid-may is decent fundraising window

unless jb puts some more in the pot or more is raised via another road trip/conference

we've noted deleks 70% buyin of a concession only 20 crow miles from zn's well
and i noticed a 5% buyin of a concession near the dead sea ca years ago

if jb does not consider it to be giving up -w all the increased interest and new finds not far from zn's concession -might be time for a limited partnership

dont know how much it would raise for a small buyin which does not threaten zn's control
zn mgmt own ca 3%, institutions some what %?

usually need a minimum of 30% stock ownership to start entering the zone where control can be obtained-depending on how loyal stockholders are

so a limited partnership of up to 25% should not threaten current board control


from10k which i cited earlier "(ii) Approximately $1,715,000 was collected through the Company’s DSPP program during the period January 1, 2019 through February 25, 2019."


zn will have to weigh its time constraints-find a commercial body of oil by dec 2,2020 to convert the license to a 30 yr lease renewable for 20 years























Imo. Do your dd before investing. I'm not a financial adviser nor compensated for my posts. They don't believe what they say, so why should you?

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