btw, i believe it was the last 10k which noted that nine zn employees work out of the israel office
and during special periods of time there may be more working out of the israeli office
from p.6 of the schedule 14 (proxy info)
again, note,
1) zn does not say that no hydrocarbons were found -which would violate many PR's and disclosures -only that not found in commercial quantities yet-the idea of the 3d survey is to find commercial quantities
2) that the 3d survey area has increased from 50 to 60 square km-previous disclosures always said approx 50 square km- this could be the result of the increased activity that surrounds zn's concession to the west and southwest
as noted in paragraph 3 below, the survey requires quite a lot of work -
During the fourth quarter of 2018, the Company testing protocol was concluded at the Megiddo Jezreel #1 (“MJ #1”) well. The test results confirmed that the MJ #1 well does not contain hydrocarbons in commercial quantities in the zones tested. While the well was not commercially viable, Zion has learned a great deal from the drilling and testing of this well. We believe that the drilling and testing of this well carried out the testing objectives which may support further evaluation and potential further exploration efforts within our License area.
As a result of these unanswered questions and with the information gained drilling the MJ#1 well, Zion now believes it is prudent and consistent with good industry practice to try and answer some of these questions with a focused 3D seismic imaging shoot of approximately 60 square kilometers surrounding the MJ#1 well.
The Company has commenced preliminary scouting and survey design to help identify the geologic boundaries of the proposed 3D seismic survey. Additionally, Zion held initial meetings with potential vendors to aid in the 3D seismic planning and acquisition process. Once the survey design and surface layout are completed, Zion intends to acquire the necessary government permits and negotiate potential surface damages to crops, irrigation piping, and other surface features. Zion believes it will be necessary to import seismic source equipment and autonomous wireless geophones (to record the signal) to acquire the 3D data. Once data acquisition is completed, interpretation is the final step and will involve integration with, and modification of, previous work by Zion technical staff. Zion’s ability to fully undertake all of these aforementioned activities is subject to raising the needed capital, of which no assurance can be provided.
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?
