Zion Oil & Gas Inc (ZNOG)

[DragonBear]

Facts, or opinions?-facts

Fact: A dry hole is a dry hole. Seepage of Kerogen, or residual oil, or hitting a water vein, does not make it "wet" - at least in the oil sense.

Fact: 3D has been the go to seismic since the late 1980s. Fact: ZN stated they used 2D for MJ1 due to cost. Fact: This is a scam that has enriched insiders, over the past decade. While accruing no value for SHs. Doesn't matter if the MJ1 lease has cost $36M thus far, with only one dry well dug. The insiders benefited- didn't they??? Fact: Results don't matter.

Fact, you don't do 3D 10 miles out, if the purpose to find that mythical reservoir just on the other side of the MJ1 rock casing. Fact: Nothing was discovered for MJ1. Other than it was a dry hole.

The SEC docs, filed by Zion, say they can drill at an angle from MJ#1

Which is a meaningless so called fact. An ancient one from May 2018.

Depending on the final outcome and results of the current MJ #1 well and having adequate cash resources, multiple wells could be drilled from this pad site as several subsurface geologic targets are reachable using directional well trajectories.

Fact: It never happened because MJ1 was a dry hole, and was plugged. It never was going to happen, as they had no idea from the 2D which direction to drill off bore, in a random manner. Or whether any pockets of oil existed. Butt, what the heck why not proclaim in a 10Q they have several subsurface targets, and then not drill even one of em. SHs will never notice.

BTW - When drilling a well to China, can one think of any non subsurface geological targets? Brown has such a way with words.

Fact: The MJ1 rig left the site long ago, without drilling any additional conventional wells. By definition MJ1 consisting of one conventional well at the time is not a pad. Neither is drilling several wells in the same area, randomly choosing a depth for a directional offshoot considered a "pad". They are merely multiple separate wells. Again, the term pad came into widespread use when describing multiple laterals from shale oil wells. Where that has evolved into having seismic pinging to guide the drill bit in a horizontal play zone.

Fact: What your 10Q link demonstrated is Brown knows how to play on words, and then deliver nothing. Because that's exactly what happened May 2018.