Zion Oil & Gas Inc (ZNOG)

[DragonBear]

Correction I meant PPS not pss and yes Israel

Let's not blame ZNOG's problems on Covid in Israel.

A real oil company doesn't take years to perform a 3D on a new lease. Neither do they drill one dry hole after another for over a decade.

The only thing that held up ZNOG's price was it's inclusion in the Russell 2000 index.

ZNOG placed itself in a position where the SEC deemed it correct to open not only an informal investigation, but later a formal investigation. PPS took an immediate heavy hit. Which caused the Russell index to ditch ZNOG months later. And another heavy hit that took the PPS below $1.

Covid in Israel did not cause the SEC investigation. Or ZNOG getting tossed from the Russell 2000. However, it's as good of an excuse as any for Brown to use in rationalizing what really happened.