Zion Oil & Gas Inc (ZNOG)

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as you already know, we arent looking at mj02 failure yet -as kyoils recent post 47631 indicates

https://www.voanews.com/a/israel-government-facing-crisis-as-lawmaker-leaves-coalition/6518057.html
the switch due to a right wing government as called for by the current Bennetts governments defector has been prophesied in detail for months -the specific reason detailed by the article does not touch what is really going on

https://www.voanews.com/a/israel-government-facing-crisis-as-lawmaker-leaves-coalition/6518057.html

but if an oil friendly govt returned to Israel that would make it easier for Zion to get another extension-even though extensions have run out- on legal principles of reliance, substantial completion and force majuere- though evangelicals sometimes are opposed to using the courts to solve a problem

there were a total of over 1 yr of delays due to covid imo- the purchased rig as well as romanian rig crew had to wait for at least several months while national borders were quarantined, and then quarantine inside israel and custom delays -plus other covid related delays -including supply interruptions which continue e.g osb which was under 10 dollars prior to covid has been up to
62 dollars
some basic bldg supply materials have been gone for over a year even though they are still being maufactured

this may be enough for a friendly govt to extend the license -dont know if a 3rd well from the wellpad could be drilled in that time

but if this well fails they will have to restructure -they cant keep financing at this pps forever let alone the pps if this well fails- so they may be forced - IF this well fails - to r/s 10 fold as Ryan mentioned- a 10c pps would be required just to meet zn's min bid price on the OTCQX - which has a min bid price of 10c, possibly 25c - 6 month leeway or so built in for current OTCQX members

even at a pps of 5c thats close to a 10 million public share buyout via a tender offer to go private as one of the options, as tisdal mentioned