InFocus, it looks like ZN believes 3D will cost $4.3M (adding up all the line items) in Israel and take 6 to 12 months, per their PR. They also are looking for $5M to take care of overhead for 12 months. Hence the $10M goal. If the $10M goal is reached, they will not do another units program until the second half of 2019 when the 3D survey is complete.
So, I suspect after the results of the program is announced in late Jan or early Feb, that news from ZN will become sparse while they implement the 3D. This would be consistent with practices in the E&P industry. A company may announce they are doing 3D seismic for a prospect, and may announce results, particularly if the results are positive, but it's rare they will give updates on how the 3D is going. ZN might give updates like the equipment is onsite, etc, but we should not expect regular updates that will give indication of the final outcome. That will only come when interpretation is complete. I'm only saying this because we all became news junkies while MJ#1 was being drilled. Including me. This time will just settle in for the long haul. Invest in the units program what I can, then wait.
ZN's choice of $1 units for 1 share and one $0.01 warrant is interesting. So, buying one unit is financially the same as buying 2 shares of stock on the market when the pps is $0.50. The share price has been in the $0.43 to $.47 range, so the units program is stating that the share price should be a little higher than its currently trading. Hence I don't expect the share price to drop as much during this program as it did on others where the pps was undercut by the program.
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