True but I may be a little bit jaded and not overly optimistic. Years ago, when ZN was in the midst of drilling MJ1, the pps of ZN was $7+ with 70 million shares outstanding resulting in a ZN market cap valued at 500 million. That said, ZN was in the middle of drilling 10k+ feet down and the market was eagerly anticipating ZN pr news and oil was over $100 barrel. Today, ZN hasn't revealed her 3D results (likely not impressive as they haven't volunteered to have them re-reviewed by a bigger company like Haliburton which would DEFINITELY add excitement if they were possibly sitting on a grand find) and it will be several months before drilling hopefully begins. ZN's price in the early stages of drilling MJ1 was $1-2 and didn't pop till they got to drilling 5-10k down. ZN at 60 cents with 250 million outstanding shares results in market cap of 150 million. $1 ZN pps is a HEAVY LIFT. Sell Jan&March covered calls at 25 cents for 66% profit and let them ride til expiry :) Just sell them and forget them and profit all the proceeds. If we don't meet Nasdaq requirements by Sept and don't get an extension, the covered calls you just sold immediately expire worthless and YOU get to keep the all profit as early as Sept!
I wouldn't buy a ZN call right now at these crazy high prices for anything. Its ridiculous! Instead, SELL'm!
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