Replies to post #31519 on Zion Oil & Gas Inc (ZNOG)

[Porgie Tirebiter]

Is it coincidence that the referenced PR was put out during one of their notorious "Unit Programs"?

Under our Dividend Reinvestment and Common Stock Purchase Plan (the “Plan”), we are providing a Unit Option under Amendment No. 3. Our Unit Program consists of the combination of Common Stock and warrants with basic Unit Program features, conditions and terms outlined in the Prospectus Supplement. Amendment No. 3 provides the option time period, unit price and the number of shares of Common Stock and warrants per unit. The Unit Option begins on February 1, 2018 and is scheduled to terminate on the earlier of February 28, 2018 or when this Unit Option receives $5 million in Unit purchases. The Unit Option consists of Units of our securities where each Unit (priced at $250.00 each) is comprised of (i) fifty (50) shares of Common Stock and (ii) Common Stock purchase warrants to purchase an additional fifty (50) shares of Common Stock. The investor’s Plan account will be credited with the number of shares of the Company’s Common Stock that is acquired under the Units purchased. Each warrant affords the investor the opportunity to purchase one share of our Common Stock at a warrant exercise price of $5.00. The warrant shall have the symbol “ZNWAH,” but no assurance can be provided that the warrants will be approved for listing on the NASDAQ Global Market.

[Porgie Tirebiter]

And then after putting out that misleading (at best) PR, they don't finally come clean with their investors for another nine months while continuing to offer additional derivative based "placements".

Zion's Chief Executive Officer, Dustin Guinn commented, "Unlike the lower Triassic zones, two of the multiple zones we tested within the Middle Jurassic and Cretaceous had sufficient permeability and porosity to flow to surface, as outlined below:

Zone 1:
3,468-3,461 meters would not flow naturally to surface. The fluid characteristics obtained while swabbing indicated high chloride brine.
Zone 2:
3,455-3,446 meters would not flow naturally to surface. The fluid characteristics obtained while swabbing indicated high chloride brine.
Zone 3:
3,325-3,310 meters would not flow naturally to surface. The fluid characteristics obtained while swabbing indicated high chloride brine.
Zone 4;
1,784-1,775 meters flowed naturally and continuously to surface. The fluid characteristics obtained from monitoring samples taken while the well was flowing indicated low chloride water.
Zone 5:
1,232.5-1,228 meters flowed naturally and continuously to surface. The fluid characteristics obtained from monitoring samples taken while the well was flowing indicated low chloride water.
The fluid did not contain hydrocarbons, and further testing at this time is not warranted. Zion is currently in discussions with the Israeli government on plugging obligations. Given the thermal gradient, flow rates, surface pressure and low salinity, certain ministries within the Israeli government have made requests of Zion concerning the use of the well as a water monitoring well. Zion will review the economic impact and obligations as a result of this request to determine a prudent plugging plan.

It's pretty obvious the Israelis finally became fed up with ZN jerking around with possible aquifer contamination in one of their most productive agricultural areas and finally forced them to knock it off, plug it, and provide provision for monitoring the result.

[Cowboyeeee]

Micro - My understanding is that light oil was the same as sweet but I could have seen that on a post. If not, I stand corrected. Thanks