Replies to post #5783 on Zion Oil & Gas Inc (ZNOG)

[Mr. W]

Thank you very much for sharing your thoughts and opinions! This is kind of what I have been thinking but I am in no way an oil expert.

It makes sense to me that this is the reason why they would have to stop.

I’m still long on Zion Oil and I believe the stock oversold.

Hopefully will be hearing more details from Zion oil soon, which could confirm some of this which you have mentioned.

[Moses1492]

Well control equipment: Thank you KyOil for your excellent analysis.
I did the research on well control equipment and posted

http://www.iadclexicon.org/well-control-equipment/
Well Control Equipment

Well control equipment includes all equipment used to:
1.detect unplanned influxes of formation fluids into the well;
2.prevent, control or divert the flow of fluids from the well;
3.purge formation fluids from the well;
4.separate formation fluids from the drilling fluid.

It includes monitoring and indication equipment for pit levels, flow detection, low and pressure measurement and other important instrumentation required for recognising and responding to an unplanned change in well parameters which could result in a loss of well control.
It includes surface, downhole and internal blowout preventers, rotating heads, circulating heads, tubing injection heads, diverters, wireline lubricators and stuffing boxes, kelly cocks, stabbing valves, choke lines and manifolds, mud gas separators, kill-lines, valves and other equipment required for killing a well including high-pressure kill pumps and plugs, valves and other devices necessary to prevent a well from flowing. It also includes all pipework associated with the above equipment.

[Moses1492]

KyOil: Your thoughtful "UNEXPECTED HIGH PRESSURE" encounter scenario makes a lot of sense given the timing involved and peculiar sourcing locations - ZN likely has been working on sourcing for at least the last PAST 2 weeks while they were casing and cementing. Whatever they felt they needed, it must be a specialty item rather hard to find... and completely unexpected (they had to know of this next 7" step down casing etc and long planned for this drilling diameter steel and bits)... SOMETHING very unexpected is the only logical conclusion for them to have been caught so seemingly flat-footed. POSITIVE and exciting update indeed.

[BlissBull]

Excellent analysis!... I totally agree!... Its a "MONSTER WELL!!!"

[tisdal]

Thanks KyOil, finally ...

That explains the need for 3d Seismic to attempt to map the field. They need to know where to drill to get more oil and release the pressure if necessary.

They have something. They are happy with the Upward pressure in the well. It is high so they need a higher rated blowout preventer.

I remember at the beginning, there were pictures of the current blow out preventer, I think on Facebook. A commenter then stated that it wasn't going to be big enough. Looks like they were right.

Thanks for sharing your knowledge. Please keep posting.

BlissBull will love having another knowlegable individual to talk to as we move towards production.

[TAB78]

Glad you posted your professional opinion, I have read where some think it is very simple to just get what is needed from another site.

I was thinking along the lines of your comments, but am not a professional in this arena and did not want to comment. I do however have some experience working on pressure system and am an acquisition specialist and when I put things out for bid I read them over and know that a lot of stuff is not readily available and if you were not expecting the need and are not a large organization with and extra huge budget and warehouse to stock such things you do not buy until the time comes.

It also takes time, is expensive to acquire such things and not much can be done about it, except to contain the situation at hand. Which in my personal opinion would be what was done here with cement boot.

Please correct me if I am off base on any of these things.

Been here a short while but I am here as long as it makes good investor sense for me to be for both Nation of Israel's sake and makes good financial sense. When I invest I use the talent parable in the bible of the master and three slaves. I do not want the Lord almighty to tell me I was lazy or imprudent, with what he gave me to invest with.

[geopressure]

KyOil; you also run casing when you encounter low pressures aka loss-circulation... or due to formation instability... & any number of other reasons...

[KyOil]

KyOil First Post Nov 3, 2017

I started reading this board when MJ#1 was spudded. Made my first post when drilling stopped in early Nov after I discerned it was due to high pressure. Further, the 10x increase in heavy gas shows was encouraging.

You can read that first post by clicking the link.

At that point in time, I knew it wasn't Outcome 1, but at least 2 and maybe 4.

1. Not commercial
2. Commercial gas, but not oil
3. Commercial oil, but not gas
4. Commercial oil and gas

Then the Energy Ministry gave ZN a two year extension, which validated what ZN was saying about the delay.

Then in Feb 2018 free flowing oil was observed, which put Outcome 4 in the driver's seat.

Then in June 2018, Dustin stated high pressure was what made drilling difficult, which confirmed my Nov 2017 assessment.

As stated in a recent post, there is a very high probability the Outcome is 2, 3, or 4. Delays due to testing or geopolitical considerations by Israel's Energy Ministry does not change the outcome. It only affects the timing of when the outcome is announced.

That being said, I understand that timing is important to individuals. Timing is certainly important to me as I would have been much better off with an announcement already. It's also understandable to trim your position in ZN as your personal circumstances change, or your assessment of the risk changes. I admire the investors who never sold, but I've had to sell at times over the years.

Everyone has to perform their own due diligence and invest at a level that they are comfortable with. For some the investment is determined strictly by data. For others the investment is lead by faith. For all the lack of an announcement is discouraging to some degree.

As for me, I invested primarily in faith. But the MJ#1 data so far confirms the faith. Therefore, it is a very reasonable faith and I'm staying all in.