Zion Oil & Gas Inc (ZNOG)

[Mr. W]

"Dry Hole"/"Active Petroleum System"

We've been through that, so many times.
Can't we all just agree on a few small things, to save some time?

MJ#1 Discovered something that Zion has decided to target with a 3-D scan.
MJ#1 Was a wildcat drill. 'i.e.' The company did not have a "Bullseye" on where exactly to drill.

Once drilled, it was determined that MJ#1 would not be cost-productive, to attempt any further actions, in a commercial production mindset.
No fracking, etc.

YES. The hole was closed.
However, ZN still has the possibility of using MJ#1 to drill, at an angle, if necessary. So, there is a small chance that if Zion finds anything close, on the 3-D, they could use the pad to target it.

So, yeah... It's "Closed".
Yeah, it was not "Commercial".
However, it does have the potential of being used in the future.

3-D is taking a LONG time, if you ask most of us.
Lawsuits are dragging.
SEC STILL hasn't said a word, since they got involved in June of '18.

Yes, in hindsight, it's easier to say that the Company should have done the 3-D first, instead of 2-D.
I'm sure they have learned somewhat of a lesson by all of this, just as we ALL have.

Now, it's the weekend. Go enjoy it.