thanks - i had not seen the terms of the 428 license before
i hope they do have a discovery
they had said they had been in discussions with the applicable ministry(s) [ before the license was extended this time]
that could be re the amount of time they would need for the testing assuming they have a discovery relayed to the ministry-something ZNOG has not told us yet
or as I have mentioned several times it could be due to delays beyond ZN's control-e.g delays caused by covid and delays due to the onshore regulations changing on ZN-using ZN as the onshore baglady/testing re such regs for the purpose of the changing regulations
whatever the reasons ZN has a very strong case for force majeure (a french word) https://www.bing.com/search?q=force+majeure+d...c22b5a6ac6
and other related principals of law
ZN experienced a total of years of delays due to the above and possibly other reasons
and yet continued forward in good faith keeping regulators informed every step of the way=of which there would be a record
regulators would have responded explicitly and also implicitly by allowing ZN to continue a course of action giving ZN a reasonable good faith belief ZN would be allowed to continue activities after the end of the supposed last allowed extension- we witnessed this throughout the period
so this is another reason ZN would be allowed another extension-if the regulators had not allowed another extension ZN would have won a court case against the regulators-which case would have allowed ZN a reasonable amount of time to execute their testing and other activities
the regulators-even though they now supposedly serve a green type anti-oil party which does not have a solid lock on power- to the extent the bureaucracy responds to political orders (they often did not respond to trump)- would know this- and thus allow the extension under these principals of law even without a discovery yet
or both could be true
ZN has not told us they have a discovery- i know they are being cautious due to the SEC investigation and recent dismissed lawsuits
but still if ZN knows they have a bona fide discovery, under SEC etc rules, (since they are incorporated in the USA) they would be required to notify investors- and if anybody was told of such discovery-unless such notification was a bona fide exception to the SEC notification requirements- ZN would be required to notify investors within 24 to 72 hours-most likely toward the 24 hr end of that time period
ZN's board had an extensive series of form 4/s recently prior to 10Q- such activity by insiders is not allowed during periods of time where the board has material information not provided to investors-especially when they know they are being watched-so the form 4 's were an act of faith- not based on secret knowledge of a discovery
and what i thought was odd is that the 10Q neither mentioned any discovery nor any extension of the license period-info required in a 10q -and i mentioned on the board it could be due to secret negotiations bc that is the only major reason why neither of those things were noted in the 10q
the very next day ceo dunn put out a PR https://www.otcmarkets.com/stock/ZNOG/news/Zi...?id=332442
which announced completion of drilling (something left unresolved in the 10q) and preparation for testing- but still not announcing an extension of license
if there is a bona fide discovery of a commercial field the licensing protocol would be converted to a production term- of which there has been no mention yet
all these things indicate there are 'encouraging' carbon shows which are not yet tantamount to a commercial discovery-just like there was encouraging oil in the drilling mud in the Feb 2018 PR
the board is well aware of Rev 21:8; 22:15 -that all liars will have their part in the lake of fire - so the board is not yet aware of a proven commercial discovery- though they are aware of 3d results -something still not given to us under exceptions allowed by IP law
so that is my estimate of the state of affairs based on laws and regulations
i hope there is a commercial discovery that is not yet proven to the board or regulators- and thus not yet announced
it would be just like Him to weed out those who dont believe-playing this out to the end so far- and thus those who have exited without reaping the rewards
i didnt want to explain this on the other board where most believers have long given up and exited and are making no attempt to be salt and light on such other board
i have not yet researched where those Jordan place names for their future wells are - have you?
i hope they do have a discovery
they had said they had been in discussions with the applicable ministry(s) [ before the license was extended this time]
that could be re the amount of time they would need for the testing assuming they have a discovery relayed to the ministry-something ZNOG has not told us yet
or as I have mentioned several times it could be due to delays beyond ZN's control-e.g delays caused by covid and delays due to the onshore regulations changing on ZN-using ZN as the onshore baglady/testing re such regs for the purpose of the changing regulations
whatever the reasons ZN has a very strong case for force majeure (a french word) https://www.bing.com/search?q=force+majeure+d...c22b5a6ac6
and other related principals of law
ZN experienced a total of years of delays due to the above and possibly other reasons
and yet continued forward in good faith keeping regulators informed every step of the way=of which there would be a record
regulators would have responded explicitly and also implicitly by allowing ZN to continue a course of action giving ZN a reasonable good faith belief ZN would be allowed to continue activities after the end of the supposed last allowed extension- we witnessed this throughout the period
so this is another reason ZN would be allowed another extension-if the regulators had not allowed another extension ZN would have won a court case against the regulators-which case would have allowed ZN a reasonable amount of time to execute their testing and other activities
the regulators-even though they now supposedly serve a green type anti-oil party which does not have a solid lock on power- to the extent the bureaucracy responds to political orders (they often did not respond to trump)- would know this- and thus allow the extension under these principals of law even without a discovery yet
or both could be true
ZN has not told us they have a discovery- i know they are being cautious due to the SEC investigation and recent dismissed lawsuits
but still if ZN knows they have a bona fide discovery, under SEC etc rules, (since they are incorporated in the USA) they would be required to notify investors- and if anybody was told of such discovery-unless such notification was a bona fide exception to the SEC notification requirements- ZN would be required to notify investors within 24 to 72 hours-most likely toward the 24 hr end of that time period
ZN's board had an extensive series of form 4/s recently prior to 10Q- such activity by insiders is not allowed during periods of time where the board has material information not provided to investors-especially when they know they are being watched-so the form 4 's were an act of faith- not based on secret knowledge of a discovery
and what i thought was odd is that the 10Q neither mentioned any discovery nor any extension of the license period-info required in a 10q -and i mentioned on the board it could be due to secret negotiations bc that is the only major reason why neither of those things were noted in the 10q
the very next day ceo dunn put out a PR https://www.otcmarkets.com/stock/ZNOG/news/Zi...?id=332442
which announced completion of drilling (something left unresolved in the 10q) and preparation for testing- but still not announcing an extension of license
if there is a bona fide discovery of a commercial field the licensing protocol would be converted to a production term- of which there has been no mention yet
all these things indicate there are 'encouraging' carbon shows which are not yet tantamount to a commercial discovery-just like there was encouraging oil in the drilling mud in the Feb 2018 PR
the board is well aware of Rev 21:8; 22:15 -that all liars will have their part in the lake of fire - so the board is not yet aware of a proven commercial discovery- though they are aware of 3d results -something still not given to us under exceptions allowed by IP law
so that is my estimate of the state of affairs based on laws and regulations
i hope there is a commercial discovery that is not yet proven to the board or regulators- and thus not yet announced
it would be just like Him to weed out those who dont believe-playing this out to the end so far- and thus those who have exited without reaping the rewards
i didnt want to explain this on the other board where most believers have long given up and exited and are making no attempt to be salt and light on such other board
i have not yet researched where those Jordan place names for their future wells are - have you?
