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”.
1. It is essential to understand that reportable compensation does not equal W-2 earnings.
2. Salary and Bonus represent less than 49% of all reportable compensation.
3. Stock options awarded, regardless of whether those options were exercised, represent over 38% of all reportable compensation.
4. It is important to note that there has been a company-imposed blackout period, restricting the sale or purchase of stock for all employees, implemented on May 15, 2017, which remains in effect to date.
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.
While 3-D seismic imaging data can be more useful than 2-D data in identifying potential prospects, its acquisition, and processing costs can potentially be multiples greater than that for 2-D data.
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.