Replies to post #41997 on Zion Oil & Gas Inc (ZNOG)

[Monroe1]

wrong. better do some more research.

The only information that can be withheld is that information that would break other laws.

Market timing, policies and procedures, agreements, trade secrets, local laws, etc etc etc must all be considered. There are restrictions. On top of that, there are those situations where judgement calls must be made especially when dealing with market timing and competition. In a corporate environment those decisions are most often made from input from the Chief Information Officer and after vetting from legal division or counsel and from Compliance officer. So this prudent decision is a shared responsibility.

So not revealing 3D and certain knowledge gained from past drilling is breaking the law? The SEC makes available circumstances for non disclosure and for maintaining sensitive information as well as for contract agreements and in International agreements which are considered not to be material public information. The SEC has even investigated themselves for SEC insiders disclosing/stealing sensitive information of public companies. Good luck to you.

[Freedom1776]

I agree with you

[Bruce_Mcdonalds]

Can you imagine the lawsuits from stockholders who sold at 30 cents if Zion Oil knew they had a major oil strike and withheld that information from investors? It isn't happening, and it's not going to happen.
It's an argument presented for every "well" Zion Oil has ever drilled, and it always ends the same.

But I do disagree on one point - they are under no obligation to say anything at all if the well is drilled to the depth, and it turns out to be a dud. Their only requirement is to write off in drilling expense in the next quarterly or annual report. A simple statement in the quarterly report - we drilled to depth and found nothing economical - is all, if even that, they need.

Twenty years ago, the former ISRAMCO Inc (not the partnership, the stock) drilled a well in the Congo. When they finished, they closed up the well and left. Nothing was said, no press releases were ever issued after the initial one that they spud in the Congo. The only thing investors got out of them was an entry in their annual report indicating the money was spent. I assume that was legal. Zion Oil could do the same.

[DocBlkAdr]

"EVERY public company has the fiduciary duty to provide ALL information to its shareholders "

Who told you that one? The Wall Street Fairy?

[DallasLFM]

Come on man. Public companies are required to discolose "ALL" information?

No. Just no. And all readers here should know that.