Replies to post #28512 on Zion Oil & Gas Inc (ZNOG)

[DragonBear]

Stop blaming short sellers.

Now what fun would that bee? LOL

Only corrections:

Note the type of well they’ve been drilling - a simple horizontal should take perhaps 6-8 weeks to drill and test.

They drilled as a vertical conventional well straight down. Where unless someone is huffing and puffing hand cranking the drill manually, it should have been completed under a month. A US Shale driller can complete a vertical, and then frac out horizontally to 1000 ft+ in 6-8 weeks. Stating an IP30 flow rate, and percent of oil/NG as the result. Of course they use active 3D especially for the frac to guide their drilling. ZN obtained by whatever means decades old 2D, and chose to drill exactly where there were several local small fault lines. A curious place to drill. No chance to find an oil trap with even a small pool of oil. Yes, an Exxon or other would've been all over the MJ lease if there was any conventional zone of oil, decades ago. Instead Israel is noted for Oil Shale, not to be confused with Shale Oil. Where the former is uneconomical at present.

The last gasp scam angle for the MJ1 were hints they would perform directional drilling. Call it enlarging a dry hole. Chances are the proceeds from the latest DSPP will barely cover salaries. With little leftover to cover any pretend drilling.

The SEC has that. Why do you think subpoenas are flying

The SEC is primarily interested in the accounting of the past decade, where the money raised went, and whether all of the DSPPs made full disclosure, and were handled in a way that didn't violate securities laws. The SEC doesn't open up formal investigations, allowing the investigating team subpoena power just for laughs. The prior non-formal investigation (e.g. past filings reviewed) turned up something of interest. Allowing the investigating team to apply for a formal investigation internally. If the SEC litigates in a yr, then they will include the misleading PR statements in as garnish. Until then, the SEC won't be bothered by any wacko oil term the Brown gang invents.

Note now he’s not an insider so can dump his shares on you.

Carrillo is still bound for Rule 144 for insider sales. Where any shares he obtained is subject to a 1 yr holding period. Most of these scams the insiders get shares as compensation each quarter, rather than all at once. Allows them to unload each Q after holding a yr. Sort of a continuous dump. You might want to track from one 10Q to the next, to see how many shares Carrillo had, that already met the 1 yr holding period, and can be dumped. There's also the Form 4s, 5s, where Carrillo has been busy.