Zion Oil & Gas Inc (ZNOG)

[KyOil]

It is more difficult now to detect Whale participation in the DSPP waiver program. Zion used to disclose how many shares were issued, or % of DSPP funds, or some metric, with each "Waiver" deal and it could be determined that a large purchase took place. I guess the BOD did not like investors being able to calculate how many shares a large investor had acquired so they stopped reporting the size of the deal, just that a Waiver deal took place. So, now I am assuming that all Waiver deals are a whale and all upticks in average DSPP monthly participation is from a Whale. It is the same pattern though that has occurred the last several years: as Zion is about out of funds from normal DSPP participation then a Waiver deal transpires.