AI
Tuesday, June 29, 2021 7:38:40 AM
Bruce_Mcdonald, if we dont find oil with MJ02
It will no longer be seen as an investment opportunity. Without that, the company is virtually dead because the stock will then become so diluted, it will be seen as a waste of money with no real possibility of return. Like all oil ventures of the past in Israel, ZNOG will become the latest in a long line of failed attempts to become an oil producer in Israel.
That may be it's fate. Still, to the long term investor, we can honestly lay claim to having formed the oil industry in Israel. It was through ZNOG that the permitting processes, etc. were established. The Millions of dollars spent exploring for oil by ZNOG has blessed Israel as well.
Pray that MJ02 finds what it is looking for; otherwise, ZNOG as a viable investment will quickly slip away. There are only so many shares that a company can issue, just like there are only so many dollar bills a country can print before inflation shows up and drives prices to a point that the country itself is in danger of survival.
If we don't find oil this time, picture a printing press reeling off millions of shares at a time to continue to pay for operations and drilling MJ03.
Let's be honest though, we have MJ01 data, we have 3D Seismic data, we have a drilling rig, and we are drilling from the same pad. We should literally be holding a road map to a commercial find with all this data, and possess the tools to access it.
If we don't find oil this time, then something else is holding us back from finding oil, or it's just not there and this whole second drill from the same pad location has been for show not for dough
.
It will no longer be seen as an investment opportunity. Without that, the company is virtually dead because the stock will then become so diluted, it will be seen as a waste of money with no real possibility of return. Like all oil ventures of the past in Israel, ZNOG will become the latest in a long line of failed attempts to become an oil producer in Israel.
That may be it's fate. Still, to the long term investor, we can honestly lay claim to having formed the oil industry in Israel. It was through ZNOG that the permitting processes, etc. were established. The Millions of dollars spent exploring for oil by ZNOG has blessed Israel as well.
Pray that MJ02 finds what it is looking for; otherwise, ZNOG as a viable investment will quickly slip away. There are only so many shares that a company can issue, just like there are only so many dollar bills a country can print before inflation shows up and drives prices to a point that the country itself is in danger of survival.
If we don't find oil this time, picture a printing press reeling off millions of shares at a time to continue to pay for operations and drilling MJ03.
Let's be honest though, we have MJ01 data, we have 3D Seismic data, we have a drilling rig, and we are drilling from the same pad. We should literally be holding a road map to a commercial find with all this data, and possess the tools to access it.
If we don't find oil this time, then something else is holding us back from finding oil, or it's just not there and this whole second drill from the same pad location has been for show not for dough
. 
