Replies to post #45047 on Zion Oil & Gas Inc (ZNOG)

[KyOil]

very interesting question mrbojanble

Since a production lease gives ZNOG a 30 year right that is difficult to revoke, I suspect the Ministry will want to proceed cautiously in issuing that lease.

So, a longer exploration license would be a good way to make sure MJ is ready for production before making the 30 year commitment.

I would guess an additional 6 months is about the minimum amount of time to complete testing, report the results, and the Ministry complete the review. The initial discovery extension could be for that time, with additional extensions possible up to 2 years total. Or, the initial discovery extension could be for a longer time, say a year. Either way, the key is to get the right to finish testing.