Zion Oil & Gas Inc (ZNOG)

[Bruce_Mcdonalds]

Read the regulation and run the calculation:

"Where the Commissioner has concluded that he cannot determine that a discovery
has been made in the license area on the basis of the submitted data, he shall notify
the license holder about his decision in writing, and this within 60 days of the date
of completion of having submitted the data."

"Where the Commissioner has concluded that the data submitted by the license
holder is reliable and corroborated, prepared according to the best industry practice
and includes sufficient information and reasonable assumptions, and that on the
basis of this data he can determine that a discovery has been made in the license
area, the Commissioner shall notify the license holder in writing his approval of the
existence of a discovery in the license area, and this within 60 days of the date of
having completed the submission of all the data"