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Oil at Megiddo Jezreel: The Rise of Zion Oil & Gas, Inc. (OTCMKTS: ZNOG)

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Zion Oil & Gas, Inc. (OTCMKTS: ZNOG) is heating up and running northbound in a hurry in recent weeks quickly emerging as a volume leader in small caps. ZNOG was delisted from the NASDAQ stock exchange where it used to trade under the ticker; ZN on September 3 after opting not do a RS. Penny stock speculators are accumulating heavily and biding ZNOG stock higher as they are well aware of the explosive history of these ex big boards that land on the OTCQB.

ZNOG skyrocketed to $0.88 highs on July 30 after the Company reported formal approval from the Israel Ministry of Energy of its drilling plan in Israel at its Megiddo Jezreel #1 (“MJ #1”) site where the Company previously discovered oil and estimated a reserve of at least 484 million barrels of oil. The stock has continued northbound after Zion reported the drilling equipment is on the way to its site in Isreal; a huge task requiring the movement of 6,000,000 pounds of steel, 150 (25 to 30 tons each) shipping containers, 150 semi-truck loads moving from shipping port to work site. With the law suites tossed and no minimum bid requirement hanging over its head ZNOG is under heavy accumulation from investors and moving up quickly.

Zion Oil & Gas, Inc. (OTCMKTS: ZNOG) is a U.S.-based corporation formed under Delaware law, exploring for oil and gas in Israel on licensed and permitted areas of approximately 99,000 acres located onshore between Tel Aviv and Haifa. The Company was conceived years ago during a trip to Isreal in 1985, ZION’s founder and CE0, John M. Brown became inspired and dedicated to finding oil and gas in Israel, and he started the process that led to the Joseph Project. During the next fourteen years he made several trips each year to Israel, hired oil and gas consultants in Israel and Texas, met with Israeli government officials, made direct investments with local exploration companies, and assisted Israeli exploration companies in raising money for oil and gas exploration in Israel. This activity led Mr. Brown, together with others who had assisted him during those years, to form Zion Oil and Gas, Inc. in April 2000 in order to receive the award of a small onshore petroleum license from the Israeli government. Upon its formation, Mr. Brown and the others contributed to Zion all of the technical, economic, legal and financial data they had accumulated over the years relating to oil and gas exploration in Israel. ZION was reincorporated in Delaware on July 9, 2003.

Zion currently holds one active petroleum exploration license onshore Israel, the Megiddo-Jezreel License, comprising approximately 99,000 acres. The Megiddo Jezreel #1 (“MJ #1”) site was completed in early March 2017, after which the drilling rig and associated equipment were mobilized to the site. Performance and endurance tests were completed, and the MJ #1 exploratory well was spud on June 5, 2017, ahead of the June 30, 2017 deadline under the then-existing license terms. The MJ #1 well has been drilled to a total depth (“TD”) of 5,060 meters (approximately 16,600 feet). Thereafter, the Company obtained three open-hole wireline log suites (including a formation image log) and the well was successfully cased and cemented. The Golan Heights and Jezreel Valley are emerging as an oil hotstpot in Isreal. Scientists say they have discovered a possible oil bonanza in the area with the potential of billions of barrels in the ground. According to geologist Yuval Batov “the layer is 350 meters thick, which is 10 times larger than the average oil find worldwide.

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ZNOGIn September Zion reported the completion of the Megiddo Jezreel #2 (MJ02) conductor pipe to a depth of 110 feet and provides an operational update. Zion’s Israeli operations have completed setting the MJ02 conductor pipe to a depth of 110 feet (33.5 meters). Cellar construction and additional engineering work continue on the pad site in preparation of the rig arrival and spud. Zion will use the same pad site as the MJ#1 well, saving valuable time and significant expense.

On September 21 ZNOG confirmed transportation arrangements for its drilling rig from Romania to Israel. Zion’s drilling rig crew is mobilizing in preparation for an estimated nine days of overland transport in Romania to its departure port. Once at the port, Zion has a confirmed vessel date for sea transport to be October 21, 2020, from Romania and arriving at Haifa port in Israel by October 27, 2020. Zion’s local logistics group in Israel is currently finalizing the rig importation customs paperwork. The first group of rig personnel visas are approved. Both crews are estimated to arrive in Israel by mid-October, 2020. In preparation for the rig arrival, setup, acceptance testing, and spudding the Megiddo-Jezreel #2 well, the conductor pipe has been set to a depth of 110 feet, the cellar has been completed and other finalizations of the pad are ongoing. Zion has finalized arrangements for such essential services as directional drilling services, mudlogging services, wireline/logging services, and cementing services. Much of the necessary additional equipment needed such as drill pipe, casing, mud, chemicals, wellhead, a blowout preventer (BOP) and drill bits, has also been contractually secured by Zion. Upon completing the well monitoring program, the Megiddo-Jezreel #2 drilling campaign will begin, and Zion will spud the well.

“We are thankful for the many challenges the Zion team has been able to overcome,” stated Zion CEO, Robert Dunn. “Despite the global challenges this year, we look forward to the Zion rig arriving at our drill site in Israel soon.”

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Currently moving steadily higher, ZNOG is an exciting story developing in small caps; recenlty the Company reported formal approval from the Israel Ministry of Energy of its drilling plan in Israel at its Megiddo Jezreel #1 (“MJ #1”) site where Zion previously discovered oil and estimated a reserve of at least 484 million barrels of oil. The Golan Heights and Jezreel Valley are emerging as an oil hotstpot in Isreal. Scientists say they have discovered a possible oil bonanza in the area with the potential of billions of barrels in the ground. According to geologist Yuval Batov “the layer is 350 meters thick, which is 10 times larger than the average oil find worldwide.Zion has reported the drilling equipment is on the way to the site after which, the Megiddo-Jezreel #2 drilling campaign will begin .With the law suites tossed and no minimum bid requirement hanging over its head ZNOG is under heavy accumulation from investors and moving up quickly. We will be updating on ZNOG when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ZNOG.

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Disclosure: we hold no position in ZNOG either long or short and we have not been compensated for this article.

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Enveric Biosciences (NASDAQ: ENVB) Pioneering the Future of Anxiety Disorder Treatment

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Enveric Biosciences, Inc. (NASDAQ: ENVB) shares surged 78% this morning upon approval of some fantastic news.

Enveric Biosciences, Inc. (NASDAQ: ENVB) shares surged 78% this morning upon approval of some fantastic news. The United States Patent and Trademark Office has granted them a notice of allowance for their patent application concerning a groundbreaking chemical compound called EB-373. This compound is being developed to address the treatment of anxiety disorders.

The forthcoming patent, titled “C4-Carbonothioate-Substituted Tryptamine Derivatives and Methods of Using,” encompasses claims for the composition of matter of a family of revolutionary prodrug derivatives of psilocin. Enveric’s lead product candidate, EB-373, stands out among these derivatives. A Notice of Allowance signifies that the USPTO has determined that a patent should be granted based on the submitted application.

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Enveric’s commitment to innovation extends beyond EB-373. They have also submitted additional patent applications to the USPTO, exploring psilocin prodrugs with unique crystalline molecular structures. Moreover, they have taken proactive steps to pursue global coverage of the EVM201 and EVM301 Series through companion Patent Cooperation Treaty and non-US national patent applications. Encouragingly, positive International Search Reports and written opinions have been received under the Patent Cooperation Treaty for most of these applications.

Joseph Tucker, Ph.D., Enveric’s director and CEO, underlined the significance of the USPTO’s favorable decision concerning their lead candidate, EB-373. He highlighted the innovative designs of their psilocin prodrugs within the EVM201 series, differentiating them from conventional counterparts like psilocybin. These novel designs hold the potential to deliver more rapid therapeutic effects, precise control, and reduced gastrointestinal side effects. Tucker emphasized that securing a robust intellectual property portfolio for their new chemical entity prodrugs is pivotal to Enveric’s value proposition and integral to their business strategy of developing cutting-edge small-molecule therapeutics to address mental health disorders.

We will update you on ENVB when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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Amgen (NASDAQ: AMGN) and TScan Therapeutics, Inc. (NASDAQ: TCRX) Secure Partnership

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Amgen (NASDAQ: AMGN) and TScan Therapeutics, Inc. (NASDAQ: TCRX) today announced a multi-year collaboration that will use TScan's proprietary target discovery platform.

TScan to Receive $30 Million Upfront With Potential Development and Commercial Milestone Payments of Over $500 Million.

Collaboration Brings Together TScan’s Proprietary Target Discovery Platform and Amgen’s Inflammation Therapeutic Expertise and Research Capabilities

Amgen (NASDAQ: AMGN) and TScan Therapeutics, Inc. (NASDAQ: TCRX) today announced a multi-year collaboration that will use TScan’s proprietary target discovery platform, TargetScan, to identify the antigens recognized by T cells in patients with Crohn’s disease.

All things considered, this is among one of the largest deals you’ll see for a micro-cap biopharma company. As many of you know, companies in this sector of this size and scale are typically not profitable – mainly focusing on R&D until their drug or technology is fully approved/commercially viable. 

The critical thing to note with this deal between TScan and Amgen is that the cash milestones ensure a cash runway for TCRX, potentially even until they become commercially viable and profitable. 

Here’s a breakdown of the press release in layman’s terms, so anyone without background or knowledge in this space can better understand: 

Amgen and TScan Therapeutics are teaming up to find new treatments for Crohn’s disease, a chronic condition that causes inflammation in the gut. TScan has a unique platform called TargetScan that can identify the proteins recognized by the immune system in people with the disease. Amgen will use this information to create new drugs to treat Crohn’s disease.

As part of the deal, TScan will get an upfront payment of $30 million from Amgen and could earn more than $500 million if the collaboration is successful. Amgen will have the rights to develop and sell any new drugs from this partnership.

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Both companies will be responsible for their research costs, and Amgen can expand the collaboration to include another condition called ulcerative colitis. This partnership could lead to new and better treatments for people with Crohn’s disease, who currently have limited options for managing their symptoms.

Here are a couple of blurbs from the management team

“Anti-inflammatory drugs have traditionally been the standard of care for patients suffering from inflammatory bowel disease, but often lack efficacy and durability,” said Raymond Deshaies, Ph.D., senior vice president of Global Research at Amgen. “TScan’s platform provides a best-in-class approach to identify non-conventional drug targets to enable the development of potential first-in-class therapeutics to address unmet medical needs.”

“We’re excited to apply our target discovery platform to the autoimmunity space,” said Gavin MacBeath, Ph.D., acting chief executive officer and chief scientific and operating officer at TScan. “Our TargetScan platform, which we have now extended to identify MHC class II targets of CD4+ T cells, is well-suited for the discovery of antigens targeted by the immune system in inflammatory bowel disease. We look forward to developing the value of our platform both in this partnership with Amgen and in other autoimmune diseases.”

What’s retail saying?

As per usual, with gains of around 135%, you can probably guess that retail is all over it. Investors practically all over the internet keep their eye on the stock for potential entry points utilizing various day trading techniques. 

Interestingly, some traders are surprised it managed to trade such massive volumes early intraday. If you look at their chart from the prior months, the average volume was relatively minuscule – sometimes trading as low as 5K shares a day.  Compared to the ~27M shares traded at the time of writing, that’s a massive shift.

We will update you on TCRX when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening with TCRX.

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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ContraFect Corp (NASDAQ: CFRX): A Low Float Runner

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On April 27, 2023, shares of ContraFect Corp (NASDAQ: CFRX) skyrocketed by 125% in pre-market trading, which is quite unusual.

On April 27, 2023, shares of ContraFect Corp (NASDAQ: CFRX) skyrocketed by 125% in pre-market trading, which is quite unusual. Although the surge may be linked to the news from the previous day, it is difficult to determine as there was not much movement on April 26.

However, sometimes it only takes the right attention from investors to create such positive rallies. It is worth noting that $CFRX has a low float of 1.53M, which can lead to extreme volatility and provide retail traders an opportunity to make significant gains.

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Summary of latest PR on April 26, 2023

ContraFect Corporation is a clinical-stage biotechnology company developing new treatments for antibiotic-resistant infections. They recently announced that they initiated a Phase 1b/2 study to test the safety, drug disposition, and efficacy of their drug candidate, Exebacase, in patients with chronic prosthetic joint infections (PJI) of the knee. The study is in France and is randomized, double-blind, and placebo-controlled, meaning some patients will receive the drug, while others will receive a placebo. The study will have two parts: Part I will evaluate the drug’s efficacy, safety, and pharmacokinetics at an early six-week time point, while Part II will assess the long-term clinical safety and efficacy of the drug for up to two years. The CEO of ContraFect Corporation is optimistic about the potential of Exebacase to replace the current surgical treatment for chronic PJI, which has not shown significant improvement in clinical outcomes in recent decades.

What are retail traders saying?

https://twitter.com/RealWillTopol/status/1651553835801001986?s=20

It is worth noting that there has been some speculation about the events that have unfolded and the underlying factors that have led to them. 

We’ve observed a subset of traders that capitalize on the volatility by adopting a watchful approach towards stocks, including $CFRX, to generate quick profits. 

However, it is essential to exercise caution when considering following their lead, given the high risk associated with their investment strategies and the prevailing market conditions. While we do not typically recommend emulating their investment decisions, it may be an intriguing endeavor for those willing to assume a certain level of financial risk with funds they can afford to lose.

About ContraFect Corp (NASDAQ: CFRX)

ContraFect is a company that focuses on finding new ways to treat life-threatening infections resistant to antibiotics. Antibiotic-resistant infections are responsible for an estimated 700,000 deaths each year worldwide. ContraFect is developing new medical treatments called DLAs that include lysins and amurin peptides. Lysins are antimicrobial proteins that can quickly kill target bacteria, including those in biofilms, and can work with traditional antibiotics. Amurin peptides can fight many antibiotic-resistant Gram-negative pathogens, including P. aeruginosa, Acinetobacter baumannii, and Enterobacter species. ContraFect believes that lysins and amurin peptides will effectively fight antibiotic-resistant organisms, such as MRSA and P. aeruginosa, which can cause serious infections. The company has completed a Phase 2 clinical trial for their lead lysin candidate, exebacase, designated by the FDA as a Breakthrough Therapy for treating MRSA bloodstream infections, including right-sided endocarditis, when combined with traditional antibiotics.

We will update you on CFRX when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening with CFRX.

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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