Zion Oil, whose 18-year struggle to extract the black stuff out of Israel's holy land suffered another setback recently, is planning to, yet again, raise money off investors.On Friday a lengthy press release arrived in our inboxes, detailing what Zion had learned from its latest dry well -- the fifth in a row -- as well as its plans going forward. From the statement:As a result of these unanswered questions and with the information gained drilling the MJ#1 well, Zion now believes it is prudent and consistent with good industry practice to try and answer some of these questions with a focused 3D seismic imaging shoot of approximately 50 square kilometers surrounding the MJ#1 well.If undertaken, this will not be a short-term exploratory project with immediate results, and it is one for
FT Alphaville considers the following as important:
This could be interesting, too:
Scott Sumner writes NOW you want easier money?
Timothy Taylor writes Tragedy of the Commons: 50 Years Later
Tyler Cowen writes Tuesday assorted links
Zion Oil, whose