Replies to post #30176 on Zion Oil & Gas Inc (ZNOG)

[tisdal]

JRyan, there is another reason why.

Due to the cost of exploring for oil in Israel, the Big Oil Companies Profit Models are not met.

Simply put, even Big Oil Companies have limited resources. Those limited resources are better used where the profit margins are much better.

There is also the concern that helping Israel locate their Oil reserves may not make some of the Big Oil Companies' current customers very happy.

[DragonBear]

Oil in the Levant Basin (onshore)

So the story is Wilson a former Shell geologist proclaims 330M to 2B bbls of oil is out there waiting to be sucked out of the ground. And what 3D, and drilling led to this proclamation? Also why didn't a Shell act on it? As previously stated: Big oil companies did not become Big by avoiding areas which contain oil. However, it can also be said they became Big by avoiding areas where only dry holes exist.

BTW - did Wilson say the magic phrase "Oil Shale". If so then that explains the lack of drilling - it's uneconomical until oil prices go over $100 to try to recover it.

In 2009 the Meged 5 well was drilled and...

When asked what oil has been found on land directly bordering adjacent on the ZN concession, the reply is to point to an oil well nowhere close?

The issue is that Zion Oil and Gas has yet to find any and is now in the struggle for the life of the company.

Yes when a company drills one dry hole after another in the past 10 yrs, that's an issue. And on its own would cause an oil company to "struggle for the life". Then add in a formal SEC investigation into the accounting reporting of the company. The SEC does not progress from informal to formal investigation just to tilt at windmills, or become part of a forum conspiracy. Where nefarious forces are said to be against the defenseless ZN oil scam.