Expect Stock Surge in US Oil and Gas Companies Exploring in Israel
January 18, 2009 by admin
Noble Israel Based Offshore Drilling Rig
Israeli energy stocks surged today (see http://www.oilinisrael.net/oil-in-israel-articles/israel-energy-stocks-surge-on-large-gas-find)based on Noble Energy’s announcement of a discovery off the Haifa Coast of over three trillion cubic feet of natural gas.
Noble Energy (NBL, NYSE) who announced the discovery and Zion Oil (ZN, AMEX), both public companies trading on American Markets, and both involved in Israeli energy exploration, should experience similar stock surges on Monday when US markets open.
Zion Oil's License Area Near Natural Gas Discovery
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Looks like we’ll have to wait until Tuesday to find out how Israel related oil and gas stocks on the US market do. American markets are closed today due to the Martin Luther King Jr. holiday.
Zion Oil stock (ZN) has held up while almost all other stocks have been falling over past several months. Last week, my Zion Oil stock jumped from about $6.00/share to almost $10.00/share, and has been fluctuating in a new range mostly between $7.00/$9.00/share. It closed just above $7.00 last Friday.
I believe that something extremely shocking is about to happen that will change everything, perhaps even early as tomorrow on scheduled Obama Inagruation.
Blessings & Shalom!!
Zion stock settles in higher each few days to a new high. This is due to increased news alerts on Zion in America. More and more are buying the stock causing the price to increase. Here are two questions:
1. What date has been picked to put the drill to work?
2. Once oil is found, will Zion be the stock of the future? The BP of Israel?
Butch
Butch,
Thanks for the compliment, but I disagree that the reason Zion stock is surging is because of increased news reports. Compared to the news and press releases during their public offering, Zion news has gone down some.
Here are three reasons I know of why Zion stock has surged:
1. The Haifa gas discovery is close by and proves massive hydrocarbons in the area.
2. Zion has proven themselves to be a real company – not a fly by night. They do what they say they’re going to do.
3. The announced subscription offer is a great deal – but only to those who already own Zion stock.
Regarding your other two questions:
1. According to inside buzz, ZIon should be turning the bit in the next month or so. They had a roadblock getting work permits for the AME (Turkish) crew, but that block is supposed to be unclogged now.
2. Will Zion be the next BP? Wishful thinking. Zion’s mission is to produce oil and gas in Israel, period. But if you want to know what a major discovery does for an oil company, keep you eyes on Noble. The current rise in Zion stock is peanuts compared to what it will do after a major discovery.