Zion Oil & Gas Inc (ZNOG)

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has anybody heard of supply system restrictions and the delays due to covid???? - those delays are abundant around the world in what is a global economy

thats why the Fed keeps referencing these things to argue inflation in certain sectors is temporary due to such shortages

there is at least a two week-maybe much longer container ship delay outside of long beach /LA ports- one reason why some say Christmas will be canceled because of supply shortages and one of the reasons the usa admin is pressuring certain segments to work 24/7 to deal w such delays
just look up refrigerators at best buy for example-over 90% of models are unavailable or backordered - those are common domestic appliances


nothing about onshore Israel oil exploration is common-ZNOG has reported many of such delays-beginning for example with substantial delays including the cross border transport of the drilling equipment and drilling crews before they could even begin to train an indigenous Israeli drilling crew points for ZNOG

Also they had to deal w a running gauntlet of changes in oil exploration etc rules in dealing with at least 24 different Israeli ministries

their whole purpose is to help Israel obtain oil independence- something Israel governmental departments are aware of

all of these things give ZNOG favor w governmental departments

they have had a net accumulation of years of delays due to covid etc

all of this gives them a very very valid argument for extension of the license due to such delays beyond their control under principals of law such as force majeure


https://www.contractstandards.com › public › clauses › force-majeure
Force Majeure. A party will not be liable for any failure of or delay in the performance of this agreement for the period that such failure or delay is. beyond the reasonable control of a party, materially affects the performance of any of its obligations under this agreement, and. could not reasonably have been foreseen or provided against...

we see governmental defacto enforcement on a broad basis of this principal in fact when the government requires landlords to cease and desist any legal action against renters etc for lengthy periods of nonpayment of rent during the covid disruptions,even though many of those renters were not personally adversely affected by covid disruptions