Zion Oil & Gas Inc (ZNOG)

[DragonBear]

I'm glad you like research

Excellent post BM.

As you point out Oil Shale is not the same as Shale Oil. Interesting how they are easily confused.

Unclear if estimates or 3rd parties, in the past, used Oil Shale in their calculations of Israeli oil reserves.

Oil Shale contains the extremely light Kerogen. ZN drilling in an area of Israeli Oil Shale finds a light API grade of oil in the mud of MJ1. Coincidence?

Also it's said the US has oil reserves in excess of the Saudis. As in Oil Shale located in the Fed lands of the US Rockies. Thus, past political slogans the US just needs to open up Fed lands, and instant oil independence. One of the major oil companies has been piddling around trying to extract Kerogen from US Oil Shale. One method had them cooking it in place so as to convert it to oil. Extremely expensive, and requiring WTI to be at least $100/bbl, and preferably $120/bbl in order to have a profit. Meanwhile Shale Oil producers are going broke with break even back in the mid 40s. An improvement over just a few years ago in the mid 50s.

As you point out elsewhere, despite all the drilling in Israel, no one has found Israel to be floating on a sea of oil, in the past 50 yrs. Which means ZN can drill away in MJ land. And after a few more dry holes, can easily obtain another lease, at another location, on the cheap. With little to no opposing bids.