Zion Oil & Gas Inc (ZNOG)

[DragonBear]

current assets obviously is ASSETS-wrong

The $6.9M listed as "unproved O&G" is an impairment on expenses spent on MJ waiting for a write down. It was previously at $36M, before a forced write down in the previous 10K filing.

which can be converted to cash within a year

Wrong. Some of the cash are deposits required by the Israeli Oil Ministry to cover potential future damages to the site, and surrounding area. Those are not liquid until ZN exits the MJ lease in good order.

zn always keeps its current assets above current liabilities

Wrong. As noted above the $6.9M is a write down waiting to happen. The current balance sheet is about -$1M.

and a lot of blue chips cant say that

Wrong. The blue chips can say they have oil production, proven/probable reserves which yields a positive value for the company, against the debt being carried. ZN has no oil revenue, and the pile of rocks MJ lease is worth nothing.