Zion Oil & Gas Inc (ZNOG)

[DragonBear]

That may be so from a geographic perspective, but it is not so from a geologic perspective.

That's the key. Not too unusual in say Alaska oil can be found, and 20-200 miles away in a geological fold, there's nothing, but a pile of rocks.

What Israel has is "Oil Shale", as in Kerogen. Hydrocarbons which need to be artificially subjected to high temps or cooked to become something close to being light oil. Which needs oil prices in excess of $100/bbl to be economical to process. The US Rockies have tons of Oil Shale, undeveloped, due to being uneconomical. Kerogen has a high API. Which is what the couple of teaspoons detected in the dry hole MJ1 was detected.

Doesn't matter if the Saudis are floating (not quite accurate) on oil. They are sitting on a plate that broke off from Africa millions of yrs ago.