As of September 30, 2021, and December 31, 2020, the Company accrued $0 for license regulatory matters. p34
Note 9 - Subsequent Events
(i) Approximately $4,378,000 was collected through the Company’s DSPP program during the period October 1, through November 10, 2021.
wow!!!--- at these low pps ppl are buying by the truckload largely speculatively bc if they find commercial oil pps should rise substantially
p36 they still dont know ● the outcome of the current SEC investigation against us;
p 38 The MJ-02 drilling plan was approved by the Ministry of Energy on July 29, 2020. On January 6, 2021, Zion officially spudded its MJ-02 exploratory well. Zion plans to reach a total depth of approximately 5,600 meters (~18,368 feet). Zion recently announced the successful casing and cementing operations in a key section of the well. The company continues making solid progress in the drilling of the MJ-02 well as it moves closer to geological targets.
On April 29, 2021, Zion submitted a request to the Ministry of Energy for a six-month extension to December 2, 2021. On May 30, 2021, the Ministry of Energy approved our request for extension to December 2, 2021.
The NML 428 lies onshore, south and west of the Sea of Galilee and we continue our exploration focus here as it appears to possess the key geologic ingredients of an active petroleum system with significant exploration potential.
not one word about extending the license- negotiations w Israeli ministries?
p39 Zion has completed all of the acquisition, processing and interpretation of the 3-D data and incorporated its expanded knowledge base into the drilling of our current MJ-02 exploratory well (see further details below).
The Geology team is continuing to work on a larger interpretation of 3D areas, along with potential exploration locations located in the western portion of the NML 428 area.
p40 Zion plans to reach a total depth of approximately 5,600 meters (~18,368 feet). Zion recently announced the successful casing and cementing operations in a key section of the well. The company continues making solid progress in the drilling of the MJ-02 well as it moves closer to geological targets.
p43
For the three and nine months ended September 30, 2021, approximately $4,369,000 and $18,157,000 were raised under the DSPP program.
For the three and nine months ended September 30, 2020, approximately $13,015,000, and $25,517,000 were raised under the DSPP program.
According to the warrant table, the Company could potentially raise up to approximately $16,408,000 if all outstanding warrants were exercised by its holders.
large amounts of warrants -which also act to hold pps down if discovery made as ppl opportunistically liquidate their warrants for an immediate money making opportunity
p44 The Impact of COVID-19
During March 2020, a global pandemic was declared by the World Health Organization related to the rapidly growing outbreak of a novel strain of coronavirus (“COVID-19”). The pandemic has significantly impacted the economic conditions in the United States and Israel, as federal, state and local governments react to the public health crisis, creating significant uncertainties in the United States, Israel and world economies. In the interest of public health and safety, jurisdictions (international, national, state and local) where we have operations, restricted travel and required work forces to work from home. As of the date of this report, many of our employees are working from home, at least on a part-time basis. However, while there are various uncertainties to navigate, the Company’s business activities are continuing. The situation is rapidly changing and additional impacts to the business may arise that we are not aware of currently. We cannot predict whether, when or the manner in which the conditions surrounding COVID-19 will change including the timing of lifting any restrictions or work from home arrangements.
The full extent of COVID-19’s impact on our operations and financial performance depends on future developments that are uncertain and unpredictable, including the duration and spread of the pandemic, its impact on capital and financial markets and any new information that may emerge concerning the severity of the virus, its spread to other regions as well as the actions taken to contain it, among others.
no language re force majeure
so my reading of just a few minutes gives impression of negotiations to extend license which are of a confidential nature -and thus are not required to be reported- my first impression anyway bc they repeatedly use language re moving forward in the same area,which cannot be done without a license extension- they have force majeure very valid arguments due to delays beyond their control
but give no indication of such-only reason i can think of is what i just stated -confidential negotiation w israeli govt ministries to extend based on substantial performance and or delays beyond their control-changing govt requirements during the last few years are part of those delays- but of course its not diplomatic to explicitly say so during any confidential negotiations of which i have no proof or inside knowledge of any kind
gives impression not currently drilling but extrapolating more info from study of 3d
if no attempt to extend license would have to say so imo
if sucessfully extended license or even applied to do so would have to say so imo -unless confidential negotiations
so thats my initial take based on previous ZN 10q's etc
Note 9 - Subsequent Events
(i) Approximately $4,378,000 was collected through the Company’s DSPP program during the period October 1, through November 10, 2021.
wow!!!--- at these low pps ppl are buying by the truckload largely speculatively bc if they find commercial oil pps should rise substantially
p36 they still dont know ● the outcome of the current SEC investigation against us;
p 38 The MJ-02 drilling plan was approved by the Ministry of Energy on July 29, 2020. On January 6, 2021, Zion officially spudded its MJ-02 exploratory well. Zion plans to reach a total depth of approximately 5,600 meters (~18,368 feet). Zion recently announced the successful casing and cementing operations in a key section of the well. The company continues making solid progress in the drilling of the MJ-02 well as it moves closer to geological targets.
On April 29, 2021, Zion submitted a request to the Ministry of Energy for a six-month extension to December 2, 2021. On May 30, 2021, the Ministry of Energy approved our request for extension to December 2, 2021.
The NML 428 lies onshore, south and west of the Sea of Galilee and we continue our exploration focus here as it appears to possess the key geologic ingredients of an active petroleum system with significant exploration potential.
not one word about extending the license- negotiations w Israeli ministries?
p39 Zion has completed all of the acquisition, processing and interpretation of the 3-D data and incorporated its expanded knowledge base into the drilling of our current MJ-02 exploratory well (see further details below).
The Geology team is continuing to work on a larger interpretation of 3D areas, along with potential exploration locations located in the western portion of the NML 428 area.
p40 Zion plans to reach a total depth of approximately 5,600 meters (~18,368 feet). Zion recently announced the successful casing and cementing operations in a key section of the well. The company continues making solid progress in the drilling of the MJ-02 well as it moves closer to geological targets.
p43
For the three and nine months ended September 30, 2021, approximately $4,369,000 and $18,157,000 were raised under the DSPP program.
For the three and nine months ended September 30, 2020, approximately $13,015,000, and $25,517,000 were raised under the DSPP program.
According to the warrant table, the Company could potentially raise up to approximately $16,408,000 if all outstanding warrants were exercised by its holders.
large amounts of warrants -which also act to hold pps down if discovery made as ppl opportunistically liquidate their warrants for an immediate money making opportunity
p44 The Impact of COVID-19
During March 2020, a global pandemic was declared by the World Health Organization related to the rapidly growing outbreak of a novel strain of coronavirus (“COVID-19”). The pandemic has significantly impacted the economic conditions in the United States and Israel, as federal, state and local governments react to the public health crisis, creating significant uncertainties in the United States, Israel and world economies. In the interest of public health and safety, jurisdictions (international, national, state and local) where we have operations, restricted travel and required work forces to work from home. As of the date of this report, many of our employees are working from home, at least on a part-time basis. However, while there are various uncertainties to navigate, the Company’s business activities are continuing. The situation is rapidly changing and additional impacts to the business may arise that we are not aware of currently. We cannot predict whether, when or the manner in which the conditions surrounding COVID-19 will change including the timing of lifting any restrictions or work from home arrangements.
The full extent of COVID-19’s impact on our operations and financial performance depends on future developments that are uncertain and unpredictable, including the duration and spread of the pandemic, its impact on capital and financial markets and any new information that may emerge concerning the severity of the virus, its spread to other regions as well as the actions taken to contain it, among others.
no language re force majeure
so my reading of just a few minutes gives impression of negotiations to extend license which are of a confidential nature -and thus are not required to be reported- my first impression anyway bc they repeatedly use language re moving forward in the same area,which cannot be done without a license extension- they have force majeure very valid arguments due to delays beyond their control
but give no indication of such-only reason i can think of is what i just stated -confidential negotiation w israeli govt ministries to extend based on substantial performance and or delays beyond their control-changing govt requirements during the last few years are part of those delays- but of course its not diplomatic to explicitly say so during any confidential negotiations of which i have no proof or inside knowledge of any kind
gives impression not currently drilling but extrapolating more info from study of 3d
if no attempt to extend license would have to say so imo
if sucessfully extended license or even applied to do so would have to say so imo -unless confidential negotiations
so thats my initial take based on previous ZN 10q's etc
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