By Zion Oil & Gas ZNOG the plan is the timing & pipeline application
This TabStocks September 2022 Update looks at Oil testing PR for investors
There are two issues this Update considers.
The first relates to the timing of the PR in relation to the MJ02 Oil testing. And the other issue is to do with a Oil pipeline application.
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Zion Oil & Gas have increased the number of their board members. And for good reason.
Zion recently obtained a license extension. It did this with ease.
Before its license extension was granted for its overall permit area, Zion had made an application to explore for Oil & Gas by drilling another Well in Israel.
And before Zion released new regarding its plans to drill another Well, it had secret meetings with the Israeli Energy Ministry about its plans.
It is clear to me that Zion & Gas believe that there is a lot of oil in the zones that they had identified at deeper levels.
The chances of discovering recoverable Oil from a Well is increased with 3D data.
And Zion Oil & Gas conducted extensive 3D testing on most of their license area in Israel.
The fact that Zion Oil & Gas bought a rig that could drill deeper following 3D testing speaks volumes.
And given Zion plans to drill another Oil Well in Israel before the testing of its current MJ02 Oil Well got underway proper tells me that the signs were very good at the time Zion drilled deeper and completed the drilling phase within MJ02.
The ZNOG share price reacted positively towards the end of drilling MJ02 and I believe this was due to the fact that Zion Oil & Gas encountered Oil.
However, Zion maintained silence regarding any such Oil discovery, though continued with their plans to test the MJ02.
There are multiple zones of interest within the target area Zion Oil & Gas are currently testing for Oil. And the process is time consuming.
I believe Zion have proposed plans to the Israeli Energy Ministry to build a pipeline from its Oil Wells to the Oil Refinery located to the West.
Indeed, I believe Zion Oil & Gas plan to drill another Well close to MJO2, and in fact I reported this new before Zion Oil & Gas had released news of their intentions to drill another Oil Well to explore for Oil & Gas.
My best guess is that Zion Oil & Gas will release news about their MJ02 testing in early October and this news should be followed by news of their application to drill another Oil Well.
Upon news of high pressed Oil flow rates and high recoverable reserve numbers of commercial Oil, I believe news of an intended pipeline will be released in early 2023.
On 16 September 2022 the ZNOG stock price fell some 22% to $0.17. The ZNOG share price saw peaks of 23 cents from 15th to 16th September 2002, having made gains from 18 cents from the 12th of September 2022.
Zion Oil & Gas is trading before a fair average considering the above information in this Update.
This is due to being an OTC listed stock and for the fact that Zion Oil & Gas shares are not listed on many of the exchanges it had been on when it was a NASDAQ quoted stock under ticker symbol ZN.
Another aspect keeping the Zion Oil & Gas stock price low are political aspects related to the global economy following Covid, the war in Ukraine and the rise in the cost of living.
These issues take money from the stock market where funds are invested in Gold and where cash is held back to profit from rising interest rates and for good opportunities to invest in value stocks.
Positive news from Zion Oil & Gas in respect of their Oil testing program for MJ02 should see the ZNOG share price rocket to the moon even on the OTC.
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