Replies to post #30628 on Zion Oil & Gas Inc (ZNOG)

[sidedraft]

So, Zion will be pumping oil soon. That is comforting news, what book and verse is that news from?

[DragonBear]

Zion is located at the Northern point of the Medged Fields (Givot Olam)

Sooooo???

Linky

The Givot Olam partnership obtained the Rosh HaAyin prospect in April 2002, but has since conducted only three drillings: Meged 4, which included a side drilling and a horizontal drilling; Meged 5, which was drilled twice in the same place; and Meged 6, which also included a side drilling. Only Meged 5 produced oil, and oil production was completely discontinued in April 2017.

So even IF the Zion lease was located at the Northern point of the Medged Fields, which it is not, what would it mean to be North of the non-producing Medged Field leased by Givot Olam?

and will be finding the reserves promised patience

If there were billions of bbls of oil easily visible not only with 3D, but also 2D, why hasn't an international oil company found this huge lake of oil Israel is floating on, in the past 40 yrs?

What is near Zion's lease is an Oil Shale deposit. Not to be confused with Shale Oil. Where Oil Shale consists of Kerogen, which is presently uneconomical to extract until Brent goes over $100. Shell in the US has been experimenting for a decade on how to cook the Kerogen in place, extracted, and get it into a form that can be refined. Again not economical. It's not unreasonable to believe ZN drilled through Oil Shale with the MJ1 well, and encountered Kerogen seepage in the rocks. Kerogen itself has the API of "light oil". The Brown gang then misled its SHs into believing MJ1 hit "light oil".

There is no oil reserves to find. No massive reservoirs, no free flowing oil trapped under pressure. IF they ever get the permits to perform a 3D, my Glo Orb predicts the following sequence of PR pumps:

We got the 3D permits after N months. N+M months of delay to get the equipment contracted.

We have the 3D results, and they look so promising. But first we need to stage another PSPP before we can drill anything.

PSPP closes months later, followed by more months of waiting to get a contracted drilling rig in. In another words repeat the history of the MJ1 well.

We have spudded MJ2. We found more "light oil" (e.g. Kerogen without saying the "K" word). Elapsed time 2 yrs.

Alas, it's also not economical. Butt we have another interesting 3D area, which we will drill. As soon as we stage another PSPP offering. Repeat the MJ2 sequence.

Rinse... Dry...Wash. Assuming the locals don't demand an end of the drilling contamination of their water aquifer.

It's a dead promise requiring decades of patience, and yearly PSPPs.