Zion Oil & Gas Inc (ZNOG)

[MrDicern]

That 10-Q that came out on Nov. 9th states it all folks.

ZNOG was living on borrowed time financially and the war just made it worse.

Just over $500k cash in the bank. It appears they reduced their expenses by ($89k) a month. But they are still spending $688k a month on average.

That is over $8m dollars a year for a drilling rig collecting dust, no revenue, a lease agreement allowing ZNOG to drill and a war that prevents them from drilling. Hopefully, a rocket doesn't take out the drilling rig. The insurance policy probably has a war exclusion.

I would expect to see this stock slowly bleed out down to $.01 unless somebody invests to save ZNOG and quickly. They can only dilute it so much.

Read the SEC filing and come to your own conclusion.