Replies to post #39366 on Zion Oil & Gas Inc (ZNOG)

[DragonBear]

Yes ZN is a value-less stock

Ok, I'll give ya $5 minus depreciation on the rig. Then subtract the pending $11M write off on the balance sheet. Negative value.

For the first time in ZN's history, they now own their very own rig and are one of the ONLY drilling operators in Israel with a large rig

The "one of the ONLY part" is a reflection there's nothing to drill for onshore.

ZN is now in position to be a drilling operator for hire for other contractors

Except for the part there's no demand. If that were the case, it would've been leased out already for 6 months while waiting on MJ2.

ZN market cap is worth around 30-40 million

Because they issued more shares to multiply the PPS against?