This is what was said last time. This is distinctively negative yet forward looking. The one he just released says "There Will Be No More Delays" (no more forward looking will be necessary). IMHO, He is setting us up for success and a Good Report this time.
Last time, as the quote below shows, he was letting the shareholders know that even though he was disappointed, he would continue but could not expect the shareholders to do the same.
February 1, 2013
Dear Zion Shareholders,
When I began this ‘Journey of Faith’ 32 years ago, what I didn’t expect was that it would take this long to find the oil nor did I ever expect that we as shareholders would ever see the day that our shares would go as low as they have recently. However, I want you all to know that we have all tried very hard to find the oil when and the way that we all wanted it to but it hasn’t happened. However, let me reassure you all that we do care about every one of you who have invested your hard earned money in Zion. Personally, I still intend to move forward and to concentrate on fulfilling the scripture and the Vision that I believe [He] has given me and to see this through until I see the oil flowing (2 Kings Chapter 7) but what I can’t do is to ask you all to continue to believe in something that you can’t or won’t wait for, to happen.
JB said that the last time and has probably said every time, which is an assume gesture, but first you got to find it, drill it, pump it, ship it and refine.