Back to basics, instead of darkness and obfuscation of reality with Biblical scale mumbo-jumbo, let's shed light on the facts:
Zion Oil & Gas was the first new IPO listing of 2007, and the CEO and director were given the honor of ringing the AMEX bell in New York on the first day of 2007 trading, just as they recently did when listed on the NASDAQ.
The company was founded by John Brown, a Texas oil man and Christian Zionist who believes that the Bible provides guidance on finding massive quantities of petroleum oil deposits in Israel (not olive oil despite the fact Naptha was an unknown and unused product in Biblical times).
Brown personally believes that his involvement in Zion Oil was predicted in 1 Kings (8:41), which mentions "a stranger, that is not of thy people Israel, but cometh out of a far country for thy name’s sake". Well, I met a space alien near Area 51 a couple of weeks ago, but that is for another poster.
Despite this unpromising background of superstitious belief and hatred for liberals, Brown has built up a significant exploratory company, which employs serious business-people and qualified geologists. One of the ironies of the Zion Oil website are references to drilling through "Triassic" and "Permian" layers of rock – troublesome labels for the Born Agains who truly believe the earth was created in Genesis about ten thousand years ago. In fact these biblical literalists believe verbatim in the Bible, yet still have "faith" in science that accepts evolution and a 5 billion year old earth as ground rules for exploration of their most precious commodity... oil. Go figure.
In the end, all the company needs is to actually get some oil in Israel. So here is what John Brown cooked up on the eve of drilling Ma’anit #2:
Brown referred the shareholders to 1 Kings 18, in which Elijah sends a servant to look for a raincloud
"Go and look toward the sea," he told his servant. And he went up and looked. "There is nothing there," he said. Seven times Elijah said, "Go back."
"Only on the seventh time does the rain actually come." With Brown making these public statements CEO Rinberg was quick to intercede; CEO Rinberg, ever-mindful of the SEC rules, kept reminding the audience that such "forward-looking" statements should not be taken as assurances that any oil will ever be found.
Most recently Zion Oil released information that they were looking at seven areas of interest in their latest deep drilling operation (and it is VERY deep) with "no small fascination". The reference to the number seven and the biblical sounding pronouncements are too subtle for casual investors to detect, but such statements have been picked up by the True Believers right away, and pounced on like a hungry raven discovering fresh roadkill.