Zion Oil & Gas Inc (ZNOG)

[bdahl385]

Could this mean a possible dry hole at the current depth? ..

at these depths and with virgin downhole formation presssures, a significant reservoir would have already been known from mudlogging , drilling breaks and "shows" and formation readings while drilling.

Good oil or gas shows would have likely spiked the price much higher as even "tight holes" leak out information on really good wells.

I am prepared to write this one off as another dry hole. The open hole logs will be able to see some possibly smaller zones of interest but I think it will turn out like the last one. Shows of oil and gas but nothing commercial.

At least the hoped for "home run" of a very large and significant discovery is gone imho. Drilling deeper would give us a little hope but if seismics don't show any structures left below the present TD, it is just wasted money.