Zion oil and gas ZNOG: Amazing Stock Price Prediction

I have been following the ups and downs of Zion oil and gas ZNOG for a number of years. My amazing stock price prediction should surprise you.

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It is fair to say that we have witnessed more downs than ups over the last few years.

Zion’s MJ-01 was the death star that put a spanner in the works for ZNOG, then ticker ZN, (Nasdaq: ZN).

Up until the results of the MJ-01 were known, Zion were not really a professional oil exploration company; not by any stretch of one’s imagination.

Since undertaking their extensive 3D testing, Zion oil and gas have generally been upbeat about their chances of encountering production worthy oil discoveries.

Following completion of the three-dimensional reflection seismic surveying, on a large area of their Megiddo Jezreel license, Zion quickly invested in another oil drilling rig.

Their new, second-hand rig was shipped from Romania. Zion hired a mostly Eastern European experienced crew to help them set up the rig and drill their MJ-02 well.

The crew also trained local, less experienced crew based in Israel.

Given the large area 3D testing covered, I’m assuming the MJ-02 drilling location (same site as MJ-01) shows promising results, moreover given the costs connected with drilling.

Now that the drilling is complete, Zion oil and gas is preparing to test their MJ-02 well.

Read our previous ZNOG article about this.

Zion oil and gas Stock Price Prediction:

On that bases of what is known; and assuming the MJ-02 production testing results are healthy, here follows is my Zion oil and gas price prediction.

This Zion oil and gas stock price prediction is based on the next 10 years:

April 2022 to December 2022. = 12 cents to $7: average stable share price range $1.50 to $4

January 2023 to December 2023. = $3.50 to $7 assumed Zion begins to drill another well following announcing their MJ-02 oil encounter and production numbers.

January 2024 to December 2024. = Assuming Zion oil and gas confirms oil reserves on their license, albeit provisional until further wells are drilled and put into production: = $5 to $20

At this stage, I would expect 2 wells to be in production. Assuming the Zion oil and gas stock is back on the Nasdaq.

January 2025 to April 2032. = $25 to $75 share price. Based on assumed 7 wells in production, a healthy oil reserves report having been established and completion of further 3D on the rest of their license.

At this stage I would expect Zion oil and gas (ZN) to be listed on the NYSE, and the crude oil price averaging $150.

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