Zion Oil & Gas Inc (ZNOG)

[tisdal]

Donald Ellis (whale) has increased his share count

According to the 13G statements, he had approximately 35M shares early in the year. He now has 47M shares. He increased his share count by 12M shares. 12M x .06 = 720,000 dollars of purchases over the year. Looks like he may be funding the payroll at ZNOG , but not much more than that. Looks like his Whale days may be over. He may be the one supporting the stock price through purchases made on the open market to buoy the stock price as ZNOG continues to look for the capital to fund their recent operations. All speculation ...