Replies to post #45258 on Zion Oil & Gas Inc (ZNOG)

[KyOil]

thanks for the info and link tothe

[IRisky]

KyOil answered my question with POST 45234

Possibly another rig purchase.


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USE OF PROCEEDS
Unless otherwise indicated in the prospectus supplement applicable to an offering, we intend to use any net proceeds from the sale of our securities to fund our operations and for other general corporate purposes, such as additions to working capital, expansion of our drilling and other exploration efforts and further our efforts to possibly acquire a majority working interest in a deep-drilling capacity onshore drilling rig. We have not determined the amount of net proceeds to be used specifically for the foregoing purposes.

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[Moses1492]

Before giving away equity to large tutes ZNOG should offer the faithful shareholders another rights offering with sizeable warrants exercisable at say .50 - $1.00