Due to this big SP drop and timing of the new "rights offering" (read dilution and capital raising), I am now 98% convinced this well is P&A bound.
Anyone here holding out hope that this latest well can become commercial???
Wonder how long Zion will be able to raise money if they don't make something happen soon as far as a discovery. With the large amount of land they hold and the seismic analysis, you would think these wells they've drilled would have been the best of the best drill locations. Doesn't bode well to me for future success. Maybe that's why the major o/g companies have not done much in these locations. Offshore seems to be where the hydrocarbons are trapped.
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