Will Zion oil and gas release some big news soon?

Having followed this oil exploration company Zion oil and gas over the last few years, I am optimistic that all the signs point to some big news being released soon.

I base my belief on a number of factors:

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ZNOG Share Price

If we look at the 1-month chart we can see that the Zion oil and gas ZNOG share price is rising. From 11 cents to 15 cents. The 16 cents range was last seen proper around 10 January 2022.

From around 23 November 2021 to 23 December 2021 the ZNOG share price saw average highs of about 32 cents. And $2 plus was last seen in August 2018.

It is difficult to interpret the share price action of Zion given its departure from the NASDAQ onto the OTC market.

But given the company chiefs seem optimistic about the chances of Zion oil and gas putting MJ-02 into production, this signals a bullish stance for the ZNOG share price moving forward.

In my view, the ZNOG share price is overdue for a boost.

And although the stock does not benefit from the Nasdaq’s flow of cash, moving in and out of oil stocks, in the oil stock sector, the time of the share price lows could be about to be left behind as the ZNOG share price is raptured up into heavenly dwellings.

Zion oil and gas news

I expect Zion oil and gas to release some good, promising news shortly. Thereafter the big news should arrive when Zion’s oil testing team prove a milestone within a zone of interest.

And there are a number of those ‘zones of interest’ Zion have up their sleeve.

So ZNOG investors could be in for a boom of a 2022 Summer if my weathervane mind for stock directions is still well oiled.

There is no doubt in my mind that Zion have encountered oil, and I believe they have kept this news hidden.

I think those knowledgeable (rig crew etc) could not have an impact on the share price (even if they bought ZNOG stock) because of lack of news and because Zion suffered the move from the Nasdaq to OTC which put a lot of investors off and a big strain upon the share price.

I have already covered my reasons I believe why the ZNOG share price took off in the initial stages to around $1.74. But I am not going to repeat that information here.

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Zion have kept the 3D data results and any oil encounter news VERY close to their chest. Yet there have been optimistic signals from Zion, albeit investors have had to read between the lines of their spoken and written words.

Some of which have emanated from John Brown, the Zion’s oil and gas Chairman and Founder of the company.

There have been other signals from Zion’s CEO, Robert Dunn too.

Overall, a good sign, is that the Israeli Energy Ministry must be aware regarding oil encounters, and as such, they are okay with Zion oil and gas moving forward with its testing program.

For if there was nothing to test, what is the point of an oil testing license; moreover, an extensive oil testing program at that?

Zion oil and gas AGM

At the last AGM, Zion oil and gas stated they would release news shortly after encountering oil. But they did and they did not.

When drilling its M2-02 well, Zion oil and gas did release news after they drilled past the maximum depth, they had reached, when they had drilled their MJ-01 well. This was not news for investors. It was expected.

Though Zion oil and gas did not release news of any oil encounter connected to their deeper drilling levels.

Also, Zion oil and gas did not say anything regarding the zones of interest.

And we do not know if Zion drilled sideways; and if so; how far and in how many directions; and at what depths.

It could thus be that Zion oil and gas has hit upon a lot of oil in various zones of interest. But that they did not explore these zones, fully, in terms of attempting to release tramped oil in those different areas.

I suspect that Zion oil and gas have discovered some oil rich areas, of free-flowing oil as well as some trapped areas in some zones. It is just my hunch you understand.

One of the biggest giveaways which influences my thinking is the time and money Zion oil and gas are going to dedicate to this testing phase.

The equipment is advanced and so is the expertise. If there were no big hydrocarbons to test, the services Zion oil and gas has arranged would not be as big of a deal as it appears to be.

There is thus no doubt in my mind that if I am correct, and Zion oil and gas have encountered a lot of oil, then an oil pipeline will be a top agenda topic for Zion to discuss with the Israeli Ministry of Energy.

Of course, any oil encountered is subject to testing, and only production numbers and moreover oil reserves will be the rocket that sends this ZNOG stock to the moon.

Conclusion

If Zion can show proven oil reserves, then we are talking a NYSE listed stock. And one giveaway of this intension are signals from Zion regarding drilling more wells.

If Zion oil and gas wants to prove oil reserves in big numbers, it will need to drill more wells.

But if it can put MJ-02 into production as it then proceeds to drill another well, this will be the biggest plus Zion oil and gas investors can hope for.

If all Zion’s oil and gas stars line up, investors could be in for a major surprise watching this stock go to the moon!

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