Zion Oil

I have been watching with interest the push on WND to peddle shares in an outfit called Zion Oil, which is going--they claim--to explore for oil in Israel.

Zion holds petroleum exploration rights in Israel located on areas that, in Biblical times, were in the territories of the Tribes of Manasseh and Asher.

Now, how could a start-up outfit manage to get those rights from the big boys, unless they were worthless?

Oil companies--for over a century--have covered the earth with their exploration for oil and have established facilites to extract it wherever it has been found. Why is there no oil facilities in Israel? The logical answer is that they never found any oil in Israel.

Listen to this from Zion's latest at WND:

Deuteronomy 33:13-16. Required long-lead inventory items have already been ordered.

They are looking for oil based on biblical expectations, statements or promises?

Shaky at best.

But here's the zinger, in something called forward looking statements.

Here's part of what Zion Oil says:

FORWARD LOOKING STATEMENTS: Statements contained in this release that are not historical fact, including statements regarding Zion's planned operations... Zion can give no assurance that the expectations reflected in these statements will prove to be correct... Zion assumes no responsibility to update the forward-looking statements in this news release.

Wowzer.

Zion's IPO ended on May 25, 2007. Over 1.8 million shares were sold to the public, raising over $12.6 million.

Hope you missed the boat on this one.