(Total Views: 341)
Posted On: 05/12/2022 5:27:39 AM
Post# of 1019
the 10q's and 10k's always reveal extensions of current licensing agreements and at least sometimes indicate how much time is left on the license -last 10k or so indicating Aug 1 2022 to be the end of this license with no renewal-absent an agreement of minds on legal principals of force majure etc - none of which ZNOG has mentioned as an avenue to extend a license
and i guess they dont need such legal principles if they can bypass legal principles via an administrative process
below is an example of extending license over the same area as before via a new license over that same geographical 99000 acre area
https://www.otcmarkets.com/stock/ZNOG/news/Zi...?id=282389
Now they are asking for another new license over the same area via an administrative process
https://www.otcmarkets.com/stock/ZNOG/news/Zi...?id=356628
not being an oil person nor that familiar with rapidly moving target evolving Israel oil laws nor their oil administrative process, the ability to simply extend licenses beyond the last possible extension via a new license over the same area is an interesting twist that dilutes or even makes a mockery even of license duration periods/limits
but removes a lot of uncertainty going forward and gives ZN more time to prove a commercial field
if a commercial field is proved the license is converted to a production lease of varying term limits in individual nations,e.g 30 years renewable for 50 years
so does that mean ZN expects more time to prove a commercial discovery due to possible delays since their schedule of production testing has been forecast to be the next several weeks- i dont know -just thinking as i write, as usual
delays are the norm for every company i've seen -just as in our own lives-maybe they are cognizant of that
and i guess they dont need such legal principles if they can bypass legal principles via an administrative process
below is an example of extending license over the same area as before via a new license over that same geographical 99000 acre area
https://www.otcmarkets.com/stock/ZNOG/news/Zi...?id=282389
Now they are asking for another new license over the same area via an administrative process
https://www.otcmarkets.com/stock/ZNOG/news/Zi...?id=356628
not being an oil person nor that familiar with rapidly moving target evolving Israel oil laws nor their oil administrative process, the ability to simply extend licenses beyond the last possible extension via a new license over the same area is an interesting twist that dilutes or even makes a mockery even of license duration periods/limits
but removes a lot of uncertainty going forward and gives ZN more time to prove a commercial field
if a commercial field is proved the license is converted to a production lease of varying term limits in individual nations,e.g 30 years renewable for 50 years
so does that mean ZN expects more time to prove a commercial discovery due to possible delays since their schedule of production testing has been forecast to be the next several weeks- i dont know -just thinking as i write, as usual
delays are the norm for every company i've seen -just as in our own lives-maybe they are cognizant of that
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