In the past, Schlumberger agreed to test one of Zion Oil's wells for 2 1/2 million, but they were never asked to test another. The issue, I think, was Schlumberger would issue ONE press release before they started testing, and ONE press release six months later, when they were finished with the results, with nothing in between. That didn't go over well.
Zion Oil does not sell shares into the open market. From recent memory, all funds come from DSPP, including the various fund raisers and warrants. About five years ago, they did have a bond sale, which you could buy the bonds through your broker. Interest and final repayment of the bond was done by issuing new shares directly to the bond holders, with prevailing prices, as per the bond agreement.
MJ#2 is not the last chance for Zion Oil. John Brown is. They need a replacement for John Brown, who isn't doing much good these days. Perhaps he could resign and they could hire him contract, for an occasional TV special or faith-gram. That would be best for stockholders and the company, especially if he passes on in the next 4 or 5 years. I don't think John Brown has a son who wants to step in and take his place. Without John Brown, Zion Oil is essentially dead. Alternatives after John Brown would possibly be a prophecy ministry that takes up the mantel for a piece of the action.
Interesting to see how this plays out. But no, I doubt you will ever see the last of Zion Oil.
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