Post by Ethan / JRyan on Nov 21, 2018 13:08:20 GMT -5
So the PR is out...bad news...What is next for Zion Oil? Please add your thoughts.
I will state that I do believe that oil is there, and in significant amounts but not in a fully conventional sense. Why Zion did not or has not publicly addressed this topic I do not know. For those of you unfamiliar with this subject, I have compiled some information about just this in a few threads here:
Givot/Genie/Zion - Connections?
Givot Olam - The FOUND Oil in Israel!
Givot - Meged Wells - Fracking 2010
In short and by memory, their is oil and the details are there for the digging. Is there oil in MJ#1? Yes, but how much? That is what we do not know. This has NOT been a commercially successful well at all and I can not advise anyone to purchase shares. I would advise against it actually.
It would seem to me that if this was a fracking location possibility that Zion would have addressed this subject. What I found from my research is that Fracking in a 'picture sense' was done by Givot. How do I know this? It was the Israeli environmental groups protests of what Givot was doing. Maybe Zion did not want to go down that road, I just do not know.
Still, Genie said there were BILLIONS of barrels in the general area, closer to the Golan Heights. Then they said no it is not commercial and then said they were out. Upon Zion's announcement in February, they were back in somewhat. They sold the drilling company Atid I think to a Billionaire who believes Israel has oil from a Biblical sense.
What does this mean? What is going through my mind?
Well what does Zion have of value at this time - today? A license area in which the exploratory well was not successful in at least a conventional sense. Nothing else really, very little debt and no realistic hope of drilling anytime soon.
What is the value of that license? That is truly unknown but the fact that Genie thought theirs worth keeping says something.
Is Zion a buy out target? Well if it were and I were the buyer I would wait until the price is at its low and we are not there yet. Even today I am surprised it is holding around 50 cents. I see no reason for this really but what do I know.
Will Israel allow fracking? I highly doubt it in this day and age. They have way more tree-huggers than even the Europeans.
With oil at $50, not really a chance. Oil at $100+ is a different outlook altogether. I do not see $100 oil for a long time now.
What role would Zion (a conventional company) play in this? I think very little really as they have not even mentioned it.
So what is the next step? I have no clue and I fully expect something to come from them soon. I do not think Mr. Brown will give up, but it will be a much harder road to recover from MJ#1 than it was from Elijah#3 and the others. This one could be a company killer.
So in closing, I know they (Zion) read this, I want some answers on what the plan is. As of now, I have not sold a share but I can not say I will not in the future. I am not mad that there was no Oil, I am disappointed with how Zion Management handled the last few months. The attacks and the silence did not help things but in the end, it was not the shorter's that caused this, it was an empty hole. What was in the logs that showed the promise? Can we see them now and do our own diligence in finding out what your folks saw? This is not cloak and dagger anymore, there is no reason not to let us see them. If we can't, then that would imply that there was nothing of great promise in the first place.
I will state that I do believe that oil is there, and in significant amounts but not in a fully conventional sense. Why Zion did not or has not publicly addressed this topic I do not know. For those of you unfamiliar with this subject, I have compiled some information about just this in a few threads here:
Givot/Genie/Zion - Connections?
Givot Olam - The FOUND Oil in Israel!
Givot - Meged Wells - Fracking 2010
In short and by memory, their is oil and the details are there for the digging. Is there oil in MJ#1? Yes, but how much? That is what we do not know. This has NOT been a commercially successful well at all and I can not advise anyone to purchase shares. I would advise against it actually.
It would seem to me that if this was a fracking location possibility that Zion would have addressed this subject. What I found from my research is that Fracking in a 'picture sense' was done by Givot. How do I know this? It was the Israeli environmental groups protests of what Givot was doing. Maybe Zion did not want to go down that road, I just do not know.
Still, Genie said there were BILLIONS of barrels in the general area, closer to the Golan Heights. Then they said no it is not commercial and then said they were out. Upon Zion's announcement in February, they were back in somewhat. They sold the drilling company Atid I think to a Billionaire who believes Israel has oil from a Biblical sense.
What does this mean? What is going through my mind?
Well what does Zion have of value at this time - today? A license area in which the exploratory well was not successful in at least a conventional sense. Nothing else really, very little debt and no realistic hope of drilling anytime soon.
What is the value of that license? That is truly unknown but the fact that Genie thought theirs worth keeping says something.
Is Zion a buy out target? Well if it were and I were the buyer I would wait until the price is at its low and we are not there yet. Even today I am surprised it is holding around 50 cents. I see no reason for this really but what do I know.
Will Israel allow fracking? I highly doubt it in this day and age. They have way more tree-huggers than even the Europeans.
With oil at $50, not really a chance. Oil at $100+ is a different outlook altogether. I do not see $100 oil for a long time now.
What role would Zion (a conventional company) play in this? I think very little really as they have not even mentioned it.
So what is the next step? I have no clue and I fully expect something to come from them soon. I do not think Mr. Brown will give up, but it will be a much harder road to recover from MJ#1 than it was from Elijah#3 and the others. This one could be a company killer.
So in closing, I know they (Zion) read this, I want some answers on what the plan is. As of now, I have not sold a share but I can not say I will not in the future. I am not mad that there was no Oil, I am disappointed with how Zion Management handled the last few months. The attacks and the silence did not help things but in the end, it was not the shorter's that caused this, it was an empty hole. What was in the logs that showed the promise? Can we see them now and do our own diligence in finding out what your folks saw? This is not cloak and dagger anymore, there is no reason not to let us see them. If we can't, then that would imply that there was nothing of great promise in the first place.
Trust is a flaky thing, and I think Reagan said it best. Trust but verify! Now is time to address these issues that your shareholders have been asking about for a long time. You have no reason not to at this point.
