Zion Oil Frequently Asked Questions (FAQ) and Public Question Forum
We have prepared this page to allow our supporters and shareholders to ask questions and get thoughtful answers from us. We understand there is a lot of distortion and misinformation about Zion Oil & Gas on the internet. This page will help you get clear answers and get accurate information.
How to use this page:
1. Review the questions and answers below.
2. Ask your question in the comment field if you do not find the answer.
3. We will review your questions and answer as quickly as possible.
Note: We may not post all questions since there are likely to be repetitive questions or questions that we are not legally able to answer in this forum. If you wish to view investment related questions, please click HERE.
Zion’s common stock trades on the NASDAQ Global Market under the symbol “ZN”.
The SEC has asserted no accusation of wrongdoing nor have they expressed any negative opinion of any person within Zion. Zion continues to fully cooperate with and work with the SEC in the provision of requested information.
While 3-D seismic imaging data is more useful than 2-D data in identifying potential new drilling prospects, its acquisition, and processing costs are many multiples greater than that for 2-D data, and the Geophysical Institute of Israel (“GII”), our primary provider of geophysical data, has limited ability to acquire and process onshore 3-D data in Israel.
In addition to using 2-D seismic technology prior to drilling, we have historically also utilized gravity and magnetic data, built cross-section maps from offset wells and utilized geophysical analysis from similar geologic targets. We believe that the additional months, delays and costs associated with more extensive pre-drilling testing typically undertaken by larger oil and gas exploration companies is not necessarily justified when drilling vertical or near-vertical exploration wells (as we have historically been doing).
Nonetheless, the absence of more extensive pre-drilling testing may potentially increase the risk of drilling a non-producing well, which would, in turn, result in increased costs and expenses. Additionally, we are typically engaged in drilling deep onshore wildcat wells in Israel where only approximately 500 total wells have ever been drilled, the vast majority of which are relatively shallow. As such, exploration risks are inherently very substantial.