Zion Oil & Gas Inc (ZNOG)

[JRyan]

Well this is so odd a situation.

I have done some research on the iHub, its somewhere and I am not a member so I can not find it. It was from 2018 timeframe, MJ1 speculations etc.

I have it elsewhere as you know.

Pioneer Natural Resources
Reserves = 1.265 Billion
Production Costs = $10 a barrel
Market Cap = $33 Billion

Occidental Petroleum
Reserves = 1.045 Billion
Production Costs = $16.50 a barrel
Market Cap = $65 Billion

This was one of the key points to that at the time. Now we are approaching 600 million shares before we know anything, so the math changes a lot.

I have attempted to show a reasonable expectation upon finding commercial oil. I have also stated, it all moot if they do not find it. The only way they will continue is going private and shareholders will probably loose. I just don't know at this point. I have added to dilute costs with the hope that we find a reasonable amount, 100's of millions of barrels, not billions.

We are in the single dollar range on the math. PE ratios for company's are hard to look at but fall in a range for these type companies. I started with a PE of 10. KyOil had a good argument of lowering that so I went to a PE of 5. It is just a guess, and a conservative one at that.