Replies to post #32971 on Zion Oil & Gas Inc (ZNOG)

[DragonBear]

3D takes time to implement. Government agencies-nonsense

They announced they wanted to pursue 3D Nov 2018. A real oil company would've performed 3D up front. Failing that they would've started to plan for it last Sep, knowing already they had a dry hole. Instead Brown kept drilling for appearances, until he could come up with excuse to stop, and report another dry hole. That excuse was a 3D. A real oil company with a presence on the land already, would likely have very little trouble, getting approval for 3D. But ZN first had to get its lease extension.

So here you are 6 months later. That's 6 months of planning the Brown gang could have implemented. Instead they hire in a paper pusher firm to take care of the paperwork. Why weren't they hired last Nov? And don't come up with the excuse of money. It doesn't cost that much to file the paperwork.

The future? At least April 2020. So where's the announcement contracting in the 3D equipment for next April? There have been posts proclaiming the PSPP fund raising has been doing wonderful. So money is no object to enter into a future contract.

Prediction time. If history is any indicator, come next April they still won't have 3D equipment on site. Then the weather will be blamed. Maybe early 2021? Then add on another year to get the drilling rig in. A few more PSPPs thrown in. Exit the NASDAQ, and trading in the OTC market. Maybe by then the SEC will start litigating.

In the meantime my near term prediction is a temporary PPS bottom at 0.25. Which I made a couple of months ago.

[Bruce_Mcdonalds]

Why has 8 1/2 months gone by and no 3D seismic contractor named, yet? I said named, not started. I mean, really, it just takes a phone call. And they could at least announce they agreed to an MOU (memorandum of understanding) with another company. MOUs are are non-binding, they wouldn't get in trouble doing that, even if it's proved they had no desire to enter such an agreement or contract.

The only explanation I can come up with is either they themselves don't think it's going to happen, or the entire reason for it in the first place was to create a long term issue that they could fund-raise on.

At this point, I think we can all agree, the company sees no hurry in starting or completing 3D seismic.

[Prophetic Watchman]

3D was supposed to be done before you decide where to drill.

all this talk is nothing more than stalling for the inevitable. the last time there was bad news, they spoke the lingo about wiring the hole again, because they had a little left in the piggy bank to try it, yet it was to make it look like something was happening. its only words to make people believe they still have something.

36 years and still not a penny of revenue.

I would bet that could be a world record in the financial realm.

[microcaps1]

thanks for posting that article- i hadnt seen such a good article to explain seismic testing to landowners etc

https://www.otcmarkets.com/filing/html?id=135...H2NCXyBQ3h


survey wasnt scheduled to begin til april 2020-they must have decided to start survey early -despite what they previously described as possible problems during the rainy season

and maybe the religious kibbutz will allow the survey during the sept holidays- whereas drilling was not allowed last year during such holidays(11 days out of a 22 day period wasnt available)

they arent shipping to haifa just for the fun of it- wouldnt ship if the trucks were to remain idle