Replies to post #51994 on Zion Oil & Gas Inc (ZNOG)

[married50]

I appreciate your insights. I noticed on Stockwits you stated it reached .40 a while back. Man, do I wish I got out at that time! Be that as it may, do you think that is in the range of possibility? If so, could you explain your rationale?

[Bruce_Mcdonalds]

Explain the thinking as to why this should go up, given:
1) It's another dry hole.
2) They have no business and no income.
3) They have no project.
4) Israel is showing them the door, ie, no next project in Israel.

A company that spends 8 years on 2 dry holes from one pad/project, taking half the money for themselves in management and the other half to contract the work out, doesn't exactly have hoards of customers beating down their front door.

Aren't you just trying to make 30% on a dead cat bounce, then leave?

[WebSlinger]

<< Next resistance would be .11 >>

There is no way that this will go back to .11 anytime soon. The company just said that the well is not commercial, which means that this stock is pretty much worthless at this point, and they don't have finances that will last them very much past the start of next year.

I would expect this to be a dead-cat bounce, and it will drop further.