By Zion Oil & Gas (ZNOG) the elephant in the room is the Well hopping from MJ01 to MJ02 and now back to MJ01.
No concreate explanation has been given for why Zion Oil & Gas have abandoned MJ02 to explore for oil and gas in MJ01. They have not explained why they cannot perform the same tests at the same depths in MJ02 as they now plan to in MJ01.
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The layers within the zones are fundamentally the same in the two Wells. MJ01 is a little over 7 meters away from MJ02
Zion Oil & Gas are now saying that just a few years ago the expert tools to explore for oil in the way they now need to did not exist. But at the same time if you listen to them carefully they contradict themselves because they say that the specialist equipment existed in the US but not in Israel.
If Zion needed a stronger more powerful Well when they first drilled the MJ01 Well and better testing equipment they should have sort these at the time before abandoning the Well and moving on to MJ02 with a new rig but without the proper equipment.
So first the rig was not good enough so they bought another rig. And now the equipment is good enough so they are buying better equipment. Thing is Zion Oil & Gas could have used better equipment on MJ01 and performed the same procedures within the MJ02 Well as they now plan to do in MJ01.
There are a lot of people you come across in life who behave like Zion Oil & Gas are. Mistakes are continually being made and they blame everyone and everything else then but themselves. Yet the circus continues.
Zion Oil & Gas (ZNOG) the elephant in the room thus are the clowns running the show
It’s clear now that the 3D is a red herring. It’s only importance or relevance is the fact that it was performed but the data does not point to or indicate any worthwhile oil discoveries. But it serves its purpose for the Zion clowns to now justify re exploring the MJ01 Well. Zion are now saying the 3D data justifies them to enter the MJ01 Well again.
Can Zion Oil & Gas obtain a permit to keep the dream alive?
If you were the Israeli energy ministry you would be asking some serious questions. Paramount among those questions is whether Zion are using permit applications to keep the sale rates of circus tickets selling.
Zion Oil & Gas ZNOG shares
The ZNOG share price has crashed and it seems to be on life support. Keeping it alive are the warrant sale from new investors. But we can conclude that Zion Oil & Gas has no real viable prospects of obtaining oil from either MJ01 or MJ02 no matter how good the equipment is they are going to waste a tonne of money on.
This is why there are no big investments by institutions. Because the big money has used logic to steer clear of the reality that the likelihood of Zion turning its carousel of Wells into profit to be near zero. Clever money is keeping away and I can’t see how buying Zion Oil & Gas shares is even a worthy gamble.
There is no solid guarantees that the ZNOG share price can make it to 20 cents. At the moment is struggling to say above 8 cents. There is a real prospect that in the short term the stock price of Zion Oil & Gas will sink below 5 cents.
People will stop buying the warrants, Zion will spend most of the money and probably find nothing and the ZNOG stock price will take another bashing and end up 1 cent if not lower. It’s clear that Zion are tapping into the faith community of Christians to gain further investment. But no results will dry up this source of income.
Is MJ01 the end of Zion Oil & Gas proper?
It seems like the only thing keeping the ZNOG stock price alive is pumping the black hole with more and more money. Once the private funding stops Zion is dead proper and we will see the end of Zion Oil & Gas for good.
Throwing good money after bad is an unwise activity when it comes to the ZNOG stock. Investors have been rounded up on the edge of the cliff and the ZNOG mountain is crumbling. The more you put in the more you’re likely to lose.
At best you might the upside (if any) is going to be very limited and there may not be enough buyers or float that would buy the shares you want to sell and at the time you need to dump those shares.
There are better options in the penny stock space. Though still risky many other OTC stocks are a lot less risky that failed oil and gas exploration companies.
But of cause if you enjoy being led by drunk clowns then good luck with that. Afterall it’s your money. Just remember that if there were any real prospects of Zion Oil & Gas succeeding the big boys would be pouring money into ZNOG shares.
I don’t expect to see Zion Oil & Gas shares trading by the end of 2024. Yes the current prognosis is dire.
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