(See very bottom of page for John Brown's Testimony)
 

Zion Oil and Gas, Inc. may be found on the NASDAQ
under the symbol
ZN
@
http://www.nasdaq.com/

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Dear Shareholder and/or Friend of Zion 
 
Since my last update to you (on June 24, 2010) we have made much progress on the drilling front.  In addition,
today, we have made an announcement about management restructuring and an addition to Zion's Board.
 
As you can read here, we announced that Kent S. Siegel, a member of Zion's Board of directors since November 2003,
has been appointed as Chief Financial Officer and Senior Vice President. Mr. Siegel replaces Sandra Green, who has resigned from the Company by mutual and amicable agreement.  I thanked Sandy for her many years of dedicated work
and wished her well for the future.
 
In addition, Patti Beals has been appointed Chief Accounting Officer and Ilan Sheena has been
appointed Vice President and Managing Director of Zion's offices in Caesarea, Israel.  Also, we are
welcoming to the Zion Board, Marc Singer who brings a wealth of business experience to Zion.

 

The vibroseis trucks on the beach by the Mediterranean sea.

 

As you can read below, we have successfully concluded the acquisition of field seismic in both our
Asher-Menashe License area and our Issachar-Zebulun Permit area. The raw data that has been collected
is now being processed for interpretation, both here in Israel and in Houston, Texas.
 
I am pleased to report that the data acquired does seem to be of good quality. This was not easy to achieve,
as in the Asher-Menashe license area, there are some major roads. One night, we arranged for the police to
stop the flow of traffic, so that the traffic 'noise' would not affect the seismic acquisition.
 
Even with the latest computer technology, the data processing will take a number of weeks to produce results
and then the resulting information will need to be carefully built into our geologic computer model by Zion's geologists.
(As a Zion director commented:"If it was easy, then anyone could do it...").
 
As a result, we should be able to have a much better picture of any geologic structures under our
exploration areas and therefore make better decisions regarding our future exploration plans.
 
 
RIGHTS OFFERING 
 
The current rights offering was originally scheduled to terminate on June 30, 2010. However, as preliminary results indicated that the offering had not been fully subscribed, we decided to extend the offering by approximately two weeks, in order to allow more time for subscriptions to be submitted. The new scheduled termination date for the rights offering is Thursday, July 15, 2010.
 
Although, to date, we have raised significant amounts from the rights offering, we believe that the
uncertain market conditions in the past weeks may have impacted negatively on our rights offering.
 
We want to move forward with further work without delay, so we would like to secure the maximum funds possible.
 
Almost certainly there will not be a further extension.  After the termination date of Thursday, July 15, 2010,
we plan to close the offering and issue the shares as soon as practicable, most likely within two weeks following the close.
 
If you want to read the press release regarding the extension of the
termination date of Zion's rights offering, please click here.
 
 
Christians United for Israel
 
As previously noted, Zion Oil & Gas will be sponsoring the "Night to Honor Israel" banquet at the
Fifth Annual Washington-Israel Summit of Christians United for Israel (CUFI). However, this year,
Zion will also be sponsoring CUFI's Ambassadors' Reception.
 
The Summit will take place in Washington, D.C. during July 20th to 22nd and the banquet will take
place on Wednesday evening, July 21, 2010. Pastor John Hagee and Israel's Ambassador to the U.S.,
Michael Oren, are scheduled to speak at the banquet.
 
It is expected that John Brown, Zion's Founder and Chairman, will be interviewed by Pastor John Hagee
during the Summit and that the interview will be broadcast on the Daystar Television Network during the "Night to Honor Israel". In addition, CUFI will broadcast a video about Zion at the banquet's pre-event, and the banquet's proceedings
will be telecast by live-feed over the Daystar Television network. If you want to read the press release, please click here. 

With regard to 'Operations', we are now preparing the concrete platform on the new site of the next well, as you can read.

Ma'anit-Joseph #3 Well (M-J #3)
 
A very important milestone occurred this week when we began site construction for the M-J #3 well. 
This milestone follows the significant amount of effort made by our staff during the past months in
securing the necessary permits allowing us to proceed with construction of the well site. 
 
Our general contractor for the site construction work is a local Israeli construction company well-known for their major infrastructure development work throughout Israel.  Consistent with best practice, we bid the construction work out to several contractors and made our selection based on the company expected to provide the greatest overall value to Zion.
 
Site construction work began on July 4 (Independence Day in the USA) and is expected to be completed
within one month.  As you can see from the photos below, much activity has already occurred.

"In your good pleasure, make Zion prosper..."
 Psalm 51:18

Thank you for your support of Zion, and 
 
Shalom from Israel
 
Richard Rinberg 
 
CEO of Zion Oil & Gas, Inc. 
 
www.zionoil.com

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, the procurement of needed drilling permits, drilling efforts and locations, the presence or recoverability of hydrocarbons, the sufficiency of cash reserves, ability to raise additional capital, timing and potential results thereof and plans contingent thereon are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
 
NOTICE
Zion Oil & Gas, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about Zion Oil & Gas and its offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Zion Oil & Gas will send you the prospectus if you request it by calling toll free 1-888-TX1-ZION (1-888-891-9466).

Dear Shareholder and/or Friend of Zion
 
As Zion's annual meeting is scheduled to take place on Monday, June 14, 2010, in Israel, we are distributing this email one day earlier than normal. This will give those who are not attending the meeting and have not yet voted, a chance to vote. You can vote either by returning your prepaid voting card, by telephone or by way of the Internet.

For everyone with an interest in Israel and its energy resources, we are living through momentous times!
 
Recently, 'Oil & Gas in Israel' has been featured in Israel's business news as almost a daily headline event. For example:
 
On June 2, 2010, Israel's business press reported that the estimated natural gas reserves in the Tamar offshore license have been increased... again. They have nearly doubled since the first estimates were published in 2009 and represent approximately 35 years of Israel's natural gas needs at projected 2012 demand rates.
 
On June 3, 2010, Israel's business press reported that initial seismic analysis indicated that the Leviathan prospect, offshore Israel, is estimated at double the size of the Tamar discovery.
 
Clearly the prediction of the United States Geological Survey's report in April 2010 that estimated the undiscovered oil and gas resources of the Levant Basin at a mean of 1.7 Billion barrels of recoverable oil and 122 Trillion cubic feet of recoverable gas in the Levant Basin is beginning to unfold before our very eyes.
 
As all of Zion's exploration areas fall within the Levant Basin... we are very optimistic regarding our petroleum exploration areas, onshore Israel.
 
(You can read the USGS Report if you click here.)
 
Zion Oil & Gas, Inc. was established 10 years ago, at a time when the idea of 'Oil in Israel' was seen as 'very unlikely' (to say the least), as the last major discovery in Israel was the Heletz field (onshore southern Israel) in 1955. Subsequently, Heletz produced more than 17 million barrels of oil.  
 
Now, we have seen a massive gas discovery offshore and even, in December 2009, an announcement of an onshore gas discovery, in another company's license area, just to the south of Zion's license area.
 
The year 1955 was also the one in which Frank Sinatra first sang, "Love & Marriage go together like a Horse & Carriage". From our perspective, where there is 'Gas', there is likely to be 'Oil'. We all know the term 'Oil & Gas'...
 
When Zion's Founder and Chairman of the Board, John Brown, heard the recent news regarding the offshore gas deposits, he pointed to Isaiah 60:5:
 

 "Then you will see this and rejoice, and your heart will be thrilled with joy, because the riches of the sea
will be brought to you. The wealth of the nations will come to you."
 

He commented that, in the short space of ten years, Zion Oil & Gas, Inc. has achieved much. Today, Zion's extensive petroleum exploration areas are very close to world class natural gas discoveries and, in a few weeks, Zion plans
to drill the Ma'anit-Joseph #3 well, deep to reach the Permian geologic layer, in the Ma'anit structure.
 

"Whatsoever the Lord pleased, that did he in heaven, and in earth, in the seas, and all deep places."
Psalms 135:6

As you can read below, there is much pre-drilling operational activity, whether with the field seismic acquisition
that is currently under way, the sourcing of drill pipe and other necessary equipment or our petroleum engineers
fine-tuning the well design for Zion's next well.
 
Of course, none of this could take place without our loyal and, we believe, 'heaven sent' stockholders
who enable us to carry out our work in Israel. Without your continued support, we would be hard-pressed
to continue at our current pace, as exploration costs are substantial.
 
We believe that, subject to the final permits, we are approximately ten weeks away from spudding our next well,
the Ma'anit-Joseph #3 and hopefully much closer to the day when we can also announce a discovery.

RIGHTS OFFERING
 
Under the rights offering (see www.zionoil.com/investor-center) Zion stockholders, at the close of business
on May 6, 2010, were issued, at no charge, the following
 
ONE subscription right for every TWO shares of stock owned (as of the close of business on May 6, 2010).
 
Each subscription right entitles the holder to purchase one share of Zion stock at a price of $5.00,
irrespective of the market price at the time of purchase.
 
The subscription rights may be exercised at any time prior to the end of June 2010.
However, after 5:00 pm EDT on June 30, 2010, unexercised subscriptions rights will expire with no residual value.
 
Please note that if you want to exercise your rights and you hold your stock in a brokerage account, then you will
need to contact your broker to determine when and how you can exercise your rights, as each individual
brokerage firm has their own timeline and procedures for processing subscriptions. 
 
As detailed in the press release, we plan to use the proceeds from the rights offering: (a) to purchase
a 51% interest in a new yet to be established company (Zion Drilling, Inc. that will own a 2,000 horsepower drilling rig),
(b) to drill further 'deep' exploration wells on Zion's licenses in Israel (in continuation of Zion's oil and gas exploration efforts) and (c) for general corporate purposes.
 
This opportunity is only available until June 30, 2010, in less than 20 days.

2010 Annual Meeting of Stockholders
 
The annual meeting is scheduled to take place at the Dan Caesarea Hotel in Caesarea, Israel at 2:00 p.m. (local time)
on Monday, June 14, 2010. 
 
The Zion shareholders own Zion Oil & Gas, Inc.,
but management can only manage Zion effectively if you support us by voting your shares.
 
If you have already voted... thank you!
 
But if you haven't yet voted... please take action and...

In prior years, the SEC allowed brokers to vote the shares of stockholders who held shares at the broker but did not express an opinion as to how they wished to vote their shares.
 
The new rules do not allow your shares to be voted on certain items without you personally voting your shares, so please vote your shares today.
 
You can vote either by returning your prepaid voting card, by telephone or by way of the Internet.
 
Your vote really does count, so please take a very few minutes in order to exercise your right as a Zion Oil & Gas stockholder.  

"In your good pleasure, make Zion prosper..."
 
Psalm 51:18

Thank you for your support of Zion, and 
 
Shalom from Israel
 
Richard Rinberg 
CEO of Zion Oil & Gas, Inc. 
 
www.zionoil.com 

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, the presence or recoverability of hydrocarbons, the sufficiency of cash reserves, ability to raise additional capital, the successful establishment of the drilling subsidiary and the negotiation and execution of definitive agreements with AME (the current owner of the drilling rig) with respect thereto, timing and potential results thereof and plans contingent thereon are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
 
NOTICE
Zion Oil & Gas, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about Zion Oil & Gas and its offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Zion Oil & Gas will send you the prospectus if you request it by calling toll free 1-888-TX1-ZION (1-888-891-9466).   

"In your good pleasure, make Zion prosper..."
 
Psalm 51:18

Thank you for your support of Zion, and 
 Shalom from Israel
 
Richard Rinberg 
CEO of Zion Oil & Gas, Inc.
 
www.zionoil.com
 

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, the presence or recoverability of hydrocarbons, the sufficiency of cash reserves, ability to raise additional capital, the successful establishment of the drilling subsidiary and the negotiation and execution of definitive agreements with AME (the current owner of the drilling rig) with respect thereto, timing and potential results thereof and plans contingent thereon are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
 
NOTICE
Zion Oil & Gas, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about Zion Oil & Gas and its offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Zion Oil & Gas will send you the prospectus if you request it by calling toll free 1-888-TX1-ZION (1-888-891-9466). 

Dear Shareholder and/or Friend of Zion...
 
This past week, Israel has been in the news (again) as the 31 members of the group of rich nations, the OECD (Organisation for Economic Cooperation and Development) unanimously voted to invite Israel to join. 
 
OECD's mission is to enhance cooperation among members while meeting high international economic standards; membership will surely boost Israel's economic standing and help attract investment to Israel.
 
The Israeli Finance Minister called the move "historic".
 
We believe that the day will arrive when Zion Oil's work will also be deemed "historic" and are steadily working towards that day.
 
Here is a report of Zion's work during the past two weeks:
 

ONE subscription right for every TWO shares of stock owned.

The USGS report (issued April 8, 2010)"Assessment of Undiscovered Oil and Gas Resources of the Levant Basin Province, Eastern Mediterranean" has attracted much media attention in Israel.
(You can review the USGS Survey by clicking here.)
 
As I noted previously, the USGS Survey estimates a mean of 1.7 BILLION barrels of recoverable oil and 122 TRILLION cubic feet of recoverable gas in the Levant Basin... and that has caught everyone's eye, as the value of the undiscovered oil and gas assessed in the USGS Survey amounts to approximately US$ 650 Billion...
 
and of course all of Zion's exploration areas fall within the Levant Basin...

 The Drilling Rig at Ma'anit

With regard to 'Operations', we are now preparing for the next well, as you can read. 
 
Ma'anit-Rehoboth #2 Well (M-R #2) 
 
This well is currently temporarily suspended for possible future use as an offset well to the Ma'anit-Joseph #3 (M-J #3) well (see below) which is to be drilled a short distance away.  
 
Ma'anit-Joseph #3 Well (M-J #3)
 
Further to our ongoing exploration work on the Ma'anit geological structure, we are quickly moving forward with permitting and planning for the M-J #3 well (targeted for the 'deep' Permian geologic structure).  (Deut. 33:13-16)
 
Our new well design is now finalized and we have begun the process of assembling the various product and service suppliers needed to drill this new well.  To date we have issued (9) Requests for Quotations ("RFQs") to dozens of vendors addressing all the major components needed to drill and test a well:  tubulars, mud system, wireline services, well testing, cementing, etc.  The early indication is that most vendors will participate in our RFQ process and seem quite eager to do business with us in Israel.  We have 'cast a wide net' in soliciting price quotes and will carefully analyze the results, when received, to ensure that we use the best available resources offering Zion the most favorable overall value.  
 
Permitting for the new well continues to move at a very good pace with progress being made on all fronts.  We continue to move forward with both local and governmental groups in assessing needs and working towards mutually agreeable outcomes.
 
Barring any unforeseen delays or complications, we remain on track to "spud" (i.e. begin drilling) the well
in the summer of 2010. 
 
Elijah #3 Well
 
The Elijah #3 well was drilled to a depth of approximately 10,938 feet (3,334 meters) when the drill string became stuck within the Asher Volcanics section of the hole. After recovering a significant portion of the stuck drill pipe, progress in recovering the remainder of the pipe slowed and the decision was made to temporarily suspend drilling operations pending further analysis of the situation.
 
We have decided to acquire additional field seismic data that will help us to resolve certain questions regarding the geology of the area surrounding the Elijah #3 well. The timing for this work is scheduled to take place in mid-summer 2010. 
  
The Issachar-Zebulun Permit Area 
 
Zion and the Geophysical Institute of Israel (GII) have signed an agreement for GII, on behalf of Zion, to acquire approximately 30 kilometers of seismic data in Zion's Issachar-Zebulun Permit area. Permitting for seismic acquisition is already underway and the timing for the field work is scheduled to coincide with the seismic field work for the Elijah #3 project area. 
 
2010 Annual Meeting of Stockholders - in just one month...
 
The annual meeting is scheduled to take place at the Dan Caesarea Hotel in Caesarea, Israel at 2:00 p.m. (local time) on Monday, June 14, 2010.  If you are planning to attend the meeting in person and would like to reserve a room at the Dan Caesarea Hotel, please contact Ora Weisman in our Israel office at ora@zionoil.com

"In your good pleasure, make Zion prosper..."
 
Psalm 51:18

Thank you for your support of Zion, and 
 
Shalom from Israel
 
Richard Rinberg 
 
CEO of Zion Oil & Gas, Inc. 
 
www.zionoil.com
 

Dear Shareholder and/or Friend of Zion...
 
During the past two weeks, Israel celebrated its 62nd birthday and, almost to the day, Zion Oil & Gas
celebrated its 10th birthday.
 
According to Harvard University Professor of Economic History, David Landes, "In the last 50 years, only one country in the world has moved from being a third world economy to a first world economy...and that is Israel!"
 
At Zion Oil, we believe that we may be able to help Israel's economy (soon, we hope) by discovering significant quantities of oil and gas onshore in Israel.
 
We are not completely alone in our belief that there are significant quantities of oil and gas waiting to be discovered. You can read below the latest estimates of the United States Department of the Interior (Geological Survey Department) and also the thoughts of Hal Lindsey in his recent weekly report.
 
In any event, our daily efforts continue steadily and with determined focus. So, here is the report of Zion's work during the past two weeks:
 

 

 

 

"But who am I, and what is my people, that we should be able to offer so willingly after this sort? 
For all things come of thee, and of thine own have we given thee."
1 Chronicles 29:14
 
"In your good pleasure, make Zion prosper..."
 
Psalm 51:18

Thank you for your support of Zion, and 
Shalom from Israel
Richard Rinberg 
CEO of Zion Oil & Gas, Inc. 
 
www.zionoil.com

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements
regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata
being drilled, drilling efforts and locations, the presence or recoverability of hydrocarbons, the sufficiency of cash reserves,
ability to raise additional capital, the successful establishment of the drilling subsidiary and the negotiation and execution of
definitive agreements with AME (the current owner of the drilling rig) with respect thereto, timing and potential results thereof
and plans contingent thereon are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant
known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports
filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the
results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these
statements will prove to be correct and assumes no responsibility to update these statements.
 
NOTICE
Zion Oil & Gas, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the prospectus in that registration statement and other documents
the issuer has filed with the SEC for more complete information about Zion Oil & Gas and its offering. You may get these
documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Zion Oil & Gas will send you the
prospectus if you request it by calling toll free 1-888-TX1-ZION (1-888-891-9466).

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Dear Shareholder and/or Friend of Zion...
 
I am happy to announce some excellent news. This past week, Zion Oil & Gas and Aladdin Middle East Ltd (AME)
signed a Memorandum of Understanding (MoU) that I believe will not only be good for both
Zion Oil and AME, but also for the State of Israel.
 
The MoU outlines our plan to establish a subsidiary, tentatively named "Zion Drilling, Inc.", for the purpose of purchasing and operating AME's 2,000 horsepower drilling rig (currently located at Zion's Ma'anit-Rehoboth #2 wellsite, in Israel).
 
Zion Drilling, Inc. will purchase AME's drilling rig for an initial payment of US$ 7 million and a series of US$ 1 million additional payments that are anticipated to coincide with our drilling seven additional wells in Israel over the next few years. As the funds for the purchase of the rig are to be provided by Zion Oil & Gas, our plans are subject to a number of events, including due diligence, the raising of additional capital and the establishment of Zion Drilling.
 
Towards that, I am pleased to tell you that, today, our US$ 50 million Shelf Offering S-3 Registration Statement
was declared effective by the Securities and Exchange Commission. So, through the S-3,
we now have the possibility of raising the additional funds required to implement our plans.    
 
The MoU provides that Zion Drilling, Inc. will be 51% owned by Zion Oil & Gas and 49% owned by AME. 
However, AME will be responsible for the daily operation of the rig.
 
Our goal in establishing Zion Drilling, Inc. is to continue to drill wells in Israel without dependence on any outside third party.  By implementing this plan, we will secure control of a drilling rig for our planned future operations and, as a consequence, raise our exploration business to a completely new level.
 
With regard to the Ma'anit-Rehoboth #2 well, you can read below the results of the completion work.  We plan to temporarily suspend work on this well although we may return to the well at some later stage. Although the results of the completion work are not what we had hoped for, as we are not able to announce a commercial discovery, we believe that we have laid an excellent foundation for our next well, (named by us) the Ma'anit-Joseph #3 well.
 
We are currently in the process of obtaining the required permits for the Ma'anit-Joseph #3 well, targeted to reach the Permian geological formation, lying deep beneath the surface. (Deut. 33:13-16)
 
To date, we have not managed to reach the Permian geological layer, even though it has been one of our main goals from the earliest days of the project.  But we are as determined as ever to reach that goal, hopefully, in our next well. (Jer. 29:11)
 
To quote Chuck Davidson, CEO of Noble Energy, the Texas Company that found the Tamar discovery (currently valued at > US$ 15 Billion) offshore Israel: 'There is no such thing as a sure thing in the energy exploration business'.
 
Although this was the case during the Ma'anit-Rehoboth #2 well completion, we are firmly resolved to use all the information and experience that we gained and drill again into the Ma'anit structure. (Psalm 135:6)
 
There are a number of reasons why we are so very optimistic regarding the possibility of finding oil & gas onshore in Israel:
 
(i) During operations, we recovered some crude oil from the Ma'anit-Rehoboth #2 well and we also noted
(much more than expected amounts of) natural gas during the drilling phase.
 
(ii) Last week, the US Geological Survey (USGS) issued a report estimating that there are 1.7 Billion barrels of recoverable oil and 122 trillion cubic feet of natural gas in the Levant Basin Province. The USGS defines the Levant Basin Province as an 83,000 square kilometer area of the Eastern Mediterranean... a large proportion of which is in Israel's economic zone (both offshore and onshore Israel). You can review the map and read the full report here.
 
(iii) This week, representatives of Russian energy giant GAZPROM met with Dr. Mimran, Israel's National Infrastructure Ministry's petroleum commissioner, to discuss the possible involvement of Gazprom with Israel's offshore natural gas fields. The press also reported that: 'a number of other Russian energy giants are showing interest in the Israeli energy and infrastructure sector.'      
 
(iv) Within the past two weeks, 'Globes'(one of Israel's leading business publications) published an interview with Fred Zeidman, who has been Chairman of the Board or a director of various Texas based oil & gas drilling / exploration / refining companies. In 2002, President Bush appointed him 'Chairman of the US Holocaust Memorial Council'.
 
Fred Zeidman made a number of comments regarding the (very bright) future for oil exploration in Israel, including:
 
1. The prospects in Israel are 'brilliant'.
 
2. The (Tamar etc.) offshore findings were amazing and it is hard to believe that there are no hydrocarbons onshore.
 
3. It could be that the onshore deposits will be found 'much deeper'. (This comment was no surprise to us, of course.)
 
4. Royalties in Israel of 12.5% are reasonable.
 
His advice to investors is that investment in oil and gas can be wonderful, but you need 'patience'. 
However, the reward, once successful, is enormous.
 
We are certainly unhappy that we were not able to declare a commercial discovery as a result of the recent completion operations. But our team remain convinced that our license areas and our permit area will ultimately deliver to us their deeply hidden treasure... in G-d's good time.
 
We have both the patience and the firm resolve... and now, we expect to soon have the right tool to finish the job -
a 2,000 Horsepower drilling rig in Israel on a permanent basis.   

 

"In your good pleasure, make Zion prosper..."
 
Psalm 51:18

Thank you for your support of Zion, and 
 
Shalom from Israel
Richard Rinberg 
CEO of Zion Oil & Gas, Inc. 
 
www.zionoil.com  

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, the presence or recoverability of hydrocarbons, the sufficiency of cash reserves, ability to raise additional capital, the successful establishment of the drilling subsidiary and the negotiation and execution of definitive agreements with AME with respect thereto, timing and potential results thereof and plans contingent thereon are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
 
NOTICE
Zion Oil & Gas, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about Zion Oil & Gas and its offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Zion Oil & Gas will send you the prospectus if you request it by calling toll free 1-888-TX1-ZION (1-888-891-9466).

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Dear Shareholder and/or Friend of Zion...

Contact Information
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
More information about Zion is available at www.zionoil.com or by contacting Michael Williams at Zion Oil & Gas, Inc., 6510 Abrams Rd., Suite 300, Dallas, TX 75231; telephone 1-214-221-4610; email: dallas@zionoil.com 
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~  

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Dear Shareholder and/or Friend of Zion...
 
Last week, both Bill Ottaviani (Zion's President and Chief Operating Officer) and I visited New York,
in order to present Zion Oil & Gas at the 'NASDAQ-Oppenheimer 14th Annual Israeli Equities Conference'.
 
We presented to investment professionals attending the 'by invitation only' event. Amongst others, conference attendees included representatives from Bank of America, Credit Suisse and Morgan Stanley.
 
We believe that the presentation, an audio webcast with slides, was successful and have posted a link
to it on Zion's homepage (www.zionoil.com) so that you can review and enjoy it.
 
Please note that, due to the ever increasing demands on management time, from now on, we will
send you an update email once every two weeks, instead of every week. Of course, if there is anything
urgent to report, we will issue a press release or a 'breaking news' email to you.
 
But, as always, our petroleum exploration work will continue at an unabated pace...
every single working day.
 
...............................................................
 
So, here is this week's operations update:

 

 

 

 

 

Thank you for your support of Zion, and
Shalom from Israel
 
Richard Rinberg 
CEO of Zion Oil & Gas, Inc. 
www.zionoil.com

 FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, the presence or recoverability of hydrocarbons, timing and potential results thereof and plans contingent thereon and sufficiency of cash reserves are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
 
 
Contact Information
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
More information about Zion is available at www.zionoil.com or by contacting Michael Williams at Zion Oil & Gas, Inc.,
6510 Abrams Rd., Suite 300, Dallas, TX 75231; telephone 1-214-221-4610; email: dallas@zionoil.com 
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~  

Dear Shareholder and/or Friend of Zion...
 
On Wednesday of this week, Israel's Channel 10 TV sent a reporting team to interview 'Zion Oil & Gas' and film at the Ma'anit site. I understand that a TV program on 'Oil and Gas in Israel' is scheduled for broadcast tonight (Friday) on Channel 10 in Israel.  
 
As I mentioned last week, Zion has been featured or mentioned in various articles in the business press recently, as 'Oil & Gas in Israel' continues to be a 'hot topic' that is attracting very great interest in Israel.
 
Please note that there will not be a weekly update next week as both Bill Ottaviani (Zion's President and Chief Operating Officer) and I will be in New York, presenting Zion Oil & Gas at the NASDAQ-Oppenheimer Israeli Equities Conference. 

The Ma'anit-Rehoboth #2 Well
 
As reported previously, following the rig mobilization, we are in the process of getting ready to re-enter this well to conduct production testing on several geologic intervals. As you can see in the picture above (taken on Wednesday, February 17th), the rig mast has been raised.
 
As I write, final preparations are being made to re-enter the well, but I expect that by the time that you read this report, we will have re-entered the well and started operations.
 
Logistical arrangements for all of our planned work activities are just about completed, as we start to receive project equipment and finalize our service schedules.
 
In keeping with past practice, we will employ local companies when appropriate, which helps grow the petroleum industry within Israel and, as needed, we will also bring in the multinational firms that offer specialized services and equipment attuned to our particular needs. We expect to use the services of Baker-Hughes and Weatherford and, for the first time in our operations, we plan to use Schlumberger Oilfield Services.
 
Schlumberger is a well-known and respected name within the international petroleum industry, especially noted for their capabilities in well testing operations and that is exactly the purpose we plan to use them for, at our Ma'anit-Rehoboth #2 well.
 
In 1912, Conrad Schlumberger conceived the revolutionary idea of 'logging' - using electrical measurements to map subsurface rock bodies. The use of the word 'logging' derives from the written record by the captain of a ship in his daily log.
 
In 1919, Marcel Schlumberger began working with his brother Conrad, in Paris and, in 1929, for the first time, they logged a well in California, USA. Fast forward 80 years and Schlumberger should soon be operating in Israel.
 
Well operations are expected to continue for approximately two months. Of course, many factors may cause operations either to be extended or to be accelerated. You can be assured that under all eventualities, we will take appropriate action, as and when required.
 

The Wellhead at the Elijah #3 Well

Operations at the Elijah #3 Well  
 
The Elijah #3 well was drilled to a depth of approximately 10,938 feet (3,334 meters) when the drill string became stuck within the Asher Volcanics section of the hole. After recovering a significant portion of the stuck drill pipe, progress in recovering the remainder of the pipe slowed and the decision was made to temporarily suspend drilling operations pending further analysis of the situation and to relocate the rig to the Ma'anit-Rehoboth #2 well. 
 
We are currently assessing various options that should enable us to proceed with the 'next steps' for this well.
 
 
The Issachar-Zebulun Permit Area
 
As reported previously, Zion and the Geophysical Institute of Israel (GII) have signed an Agreement for GII, on behalf of Zion, to acquire approximately 30 kilometers of seismic data in Zion's Issachar-Zebulun Permit area.
 
Pre-site assessment is scheduled to begin this month with the actual field work anticipated to occur during April and May 2010.

"In your good pleasure, make Zion prosper..."
 
Psalm 51:18

Thank you for your support of Zion, and
 Shalom from Israel
 Richard Rinberg 
CEO of Zion Oil & Gas, Inc. 
www.zionoil.com

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, the presence or recoverability of hydrocarbons, timing and potential results thereof and plans contingent thereon and sufficiency of cash reserves are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
 

Contact Information
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
More information about Zion is available at www.zionoil.com or by contacting Michael Williams at Zion Oil & Gas, Inc.,
6510 Abrams Rd., Suite 300, Dallas, TX 75231; telephone 1-214-221-4610; email: dallas@zionoil.com 
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 

Dear Shareholder and/or Friend of Zion...
 
On Monday, 'Maariv' (one of the major daily Hebrew language newspapers in Israel) sent their reporter, Mordechai Chaimovitch, to visit both our Caesarea office and the Ma'anit-Rehoboth #2 and Elijah #3 well sites. They conducted some interviews, took many photographs and then followed up, on Tuesday, with a telephone interview with John Brown in Dallas.
 
Zion has been featured or mentioned in various articles in the business press recently, as 'Oil & Gas in Israel' continues to be a 'hot topic' that is attracting very great interest in Israel.

 Left to Right:  Mordechai Chaimovitch interviews
Rasim Yoruk (AME's Assistant Drilling Manager)

...............................................................
 
Here is this week's operations update.
 
Operations at the Elijah #3 Well

The Elijah #3 well was drilled to a depth of approximately 10,938 feet (3,334 meters) when the drill string became stuck within the Asher Volcanics section of the hole.
 
In last week's update, I noted that we reached an impasse in our fishing operations at the Elijah #3 well, after achieving a good measure of progress in recovering the stuck drill pipe.
 
As a result of the impasse, we decided to temporarily suspend drilling activities at the Elijah #3 well, while we consider various options to resolve the challenge of drilling through the loosely consolidated Asher Volcanics to our target depth, as well as retrieving the stuck pipe. Almost certainly, we will need to import into Israel equipment and/or services that are not readily available here.
 
Rather than suspending all well operations and putting the drilling rig in stand-by mode in order to take the necessary time to formulate a revised plan at the Elijah #3 well, we decided to relocate the rig to the Ma'anit-Rehoboth #2 well for production testing (see summary below).
 
As you can see in the photographs above, we are currently in the process of demobilizing the rig and associated equipment from the Elijah #3 well site. The well site itself will remain in "ready mode" for future operations.
 
Based on our current geologic assessment, we remain encouraged about the hydrocarbon potential in this license area and look forward to the not-too-distant future when we return and complete the work that is already well underway.

The Ma'anit-Rehoboth #2 Well

 The Ma'anit-Rehoboth #2 Well Site, showing the well head

www.zionoil.com

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, the presence or recoverability of hydrocarbons, timing and potential results thereof and plans contingent thereon and sufficiency of cash reserves are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

You can read the details in the press release, but I'll mention that Bill Ottaviani
is a Petroleum Engineer with an MBA who has spent 25 years working for Chevron.

www.zionoil.com

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, the presence or recoverability of hydrocarbons, timing and potential results thereof and plans contingent thereon and sufficiency of cash reserves are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

 

 

Left to Right: Dr. Eli Tannenbaum, Dr. Eliezer Kashai (Zion's Vice President - Israeli Exploration),
Stephen Pierce (Zion's Exploration Manager)

More information about Zion is available at www.zionoil.com or by contacting Michael Williams at Zion Oil & Gas, Inc.,
6510 Abrams Rd., Suite 300, Dallas, TX 75231; telephone 1-214-221-4610; email: dallas@zionoil.com 

Email: brittany@zionoil.com

We have been reprocessing all of the existing seismic and are planning to acquire, in March 2010, approximately 30 kilometers of field seismic, in the permit area.
........................................

www.zionoil.com  

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, the presence or recoverability of hydrocarbons, timing and potential results thereof and plans contingent thereon and rights offering are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

 Is there anything of which one can say, "Look! This is something new"?
It was here already, long ago; it was here before our time.

The Ma'anit-Rehoboth #2 Well Site, showing the well head

No additional news to report this week.

www.zionoil.com

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, the presence or recoverability of hydrocarbons, timing and potential results thereof and plans contingent thereon and rights offering are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 

May 2010 bring you health, happiness and success.

All of us share the same deep desire to achieve success with our goal to find oil and gas onshore Israel.

Drilling Operations at the Elijah #3 Well

                                                                          The 2,000 horse power drilling rig, at the Elijah #3 sit

Our update to you on Friday, December 18, 2009,
I noted that the Elijah #3 well has been cased from the surface down to 6,706 feet (2,044 meters)
and, as of this afternoon, we are testing the blowout preventer system in preparation to drill deeper
(presently in Upper Jurassic carbonates) as planned.

For the period from 'spudding' the well (that is 'beginning drilling operations') to December 31, 2009, we drilled to a depth of approximately 9,186 feet (2,800 meters), at an average rate of penetration of approximately 131 feet (40 meters) per day. We have made good progress and are 'on schedule'.

During the past three weeks, we continued drilling at an excellent rate and as of this morning, the Elijah #3 well has been drilled to a depth of 10,210 feet (3,112 meters).

The Ma'anit-Rehoboth #2 Well Site, showing the well head

Thank you for your support of Zion, and

Dear Shareholder and/or Friend of Zion...
 
I am pleased to report that, on Monday of this week, we were able to successfully complete our rights offering. We offered stockholders 3.6 million shares of Zion's common stock at a subscription price of $5.00 per share.
 
As you can read in the press release (Click Here For Link To Press Release) that we issued on Tuesday, December 1, 2009, preliminary results indicated that subscriptions were received for over $37 million, significantly greater than the maximum available of $18 million.
 
As soon as we can, we will return the oversubscription money and issue the stock subscribed for. There is significant administration involved, so this will take a number of days.
 
The rights offering gross proceeds of $18 million (before offering related cost and expenses) will provide us with the financial and operating flexibility to significantly further our exploration and drilling program.
 
We should soon be in a position to pinpoint the location of our next proposed drilling location and are planning seismic acquisition in the field, on our Issachar-Zebulun permit area, in March 2010.
 
In the meantime, our other work continues...

The Ma'anit-Rehoboth #2 Well
 
 
 

 

 

The Well Head and the Workover Rig
 

Turkish Rig Manager Rasim Yoruk by the Well Head
 

 
 
We drilled the Ma'anit-Rehoboth #2 well to a depth of 17,913 feet (5,460 meters).
 
As you can see in the photographs above (taken yesterday, Thursday, December 3, 2009) the workover rig is on
location and adjacent to the well head. When I visited the Ma'anit site to take the photographs shown above, I found
Aladdin Middle East's Drilling Manager, Rasim Yoruk, taking his own photographs. He feels a great connection to the site, as it is the first well he has drilled in Israel and he wants to keep a complete personal record of the operations at the site. Such is the deep personal connection that we all feel about our work.

As previously noted, the completion procedures have been agreed and the workover rig contract signed.
Starting next week, we intend to begin swabbing and completion testing operations and are looking
forward to getting back to work at the Ma'anit-Rehoboth #2 well site.
 

 

The A.M.E. drilling rig, at dusk, at the Elijah #3 site

The Elijah #3 well has been cased from the surface down to 3,461 feet (1,055 meters).
 
For approximately ten days, from November 19 to 29, we were drilling very hard formation (Lower Cretaceous Tayasir Volcanics) with a PDC bit. The progress was slow and the drilling required much care and attention.
 
However, we managed to penetrate the volcanics and, ever since, we have been drilling in Upper Jurassic
carbonates with a down-hole motor and a tri-cone tungsten carbide insert bit.
 
Even though the hard volcanic rock was fully expected, the drilling crew certainly prefers drilling at
a rate of penetration of 50 meters per day rather than 5 meters per day.
 
As of today, Friday, December 4, 2009, we have drilled to a depth of approximately 5,740 feet (1,750 meters)
and are very satisfied with the drilling progress to date.
 

"In your good pleasure, make Zion prosper..."
Psalm 51:18

Thank you for your support of Zion,
Shalom from Israel

Richard Rinberg 
CEO of Zion Oil & Gas, Inc.
 www.zionoil.com

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations,
geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, the presence or recoverability of
hydrocarbons, timing and potential results thereof and plans contingent thereon and rights offering are forward-looking statements as defined in the "Safe Harbor"
provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and
unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control.
These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that
the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Dear Shareholder and/or Friend of Zion...
Here is an update of our progress during the past week.
 
 

 

The Ma'anit-Rehoboth #2 Well
 
Here is a summary of the current situation concerning this well, together with comments taken from the independent log analysis that was carried out. The log analysis comments are rather technical, but do present a fair summary of how matters presently stand.
 
We drilled the Ma'anit-Rehoboth #2 well to a depth of 17,913 feet (5,460 meters) and on October 2, 2009 released the drilling rig for use on the Elijah #3 well and temporarily suspended drilling operations on the Ma'anit-Rehoboth #2 well, until a smaller rig would become available for completion operations on the seven zones that warrant completion testing.
 
Four of the zones are in the upper (Triassic) part of the hole and were seen in the Ma'anit #1 well and three of the zones are in the deeper hole drilled in the Ma'anit-Rehoboth #2 well.
 
Our latest estimate of the likely arrival time of a suitable rig at the Ma'anit site is December 2009. We have tried to accelerate matters, but the rig we want to use requires some maintenance work, so we will have to wait. The good news is that 'completion testing' work on our well, with the rig now planned, should save Zion approximately $250,000 in cost, as compared with the cost of the original rig that we wanted to use. Waiting is difficult, but at least we will be saving some money by doing so.  
 
With regard to our log analysis, an independent log analyst noted that the Ma'anit-Rehoboth #2 well does have a specified amount of potential "net pay".
 
The analyst was careful to comment that the results of his analysis (including porosity, water saturation data, "net pay" and "net reservoir" determination or tabulated reservoir properties across the logged interval) should not be considered 'quantitative' due to the effects of borehole washouts on the input logging measurements used for his analysis.
 
He noted that the existence of any hydrocarbon-bearing, open-hole fracture porosity in the formations inferred from the effects of borehole washout on the conventional wireline log data analyzed was tenuous at best, as such reservoir properties are impossible to identify or quantify directly from conventional log data alone.
 
The analyst recommended testing the seven zones. Each recommended zone contains both 'potential net pay' and 'natural open fractures'. He commented that we cannot be certain that any particular test will be successful and we, as the operator, should decide how to test these zones.
 
We decided to test the lower three zones together, as one, and we set a packer at 15,778 feet (4,809 meters) inside the 7 5/8" casing, to isolate the tubing string from the casing and provide a conduit for any produced hydrocarbons. We then ran a string of 2 7/8" tubing in the well and using downhole seals, plugged into the packer.
 
Currently, there is water in the tubing and heavy water (designed to hold back formation pressure) below the packer.  We need the small rig to try and "bring in the well"... an operation that we could not accomplish efficiently with the very large, powerful and expensive 2,000 horsepower drilling rig.

Please note that, all the information that we have presented is based on initial indications only. At present, no determination can be made as to whether the drilling has resulted in the discovery of a hydrocarbon reservoir and/or the extent of the reservoir, and/or its commercial viability.
 
You will appreciate that, until such time as we recover hydrocarbons at the surface (or not), we are not able to give any estimates of what (if anything) we believe we may recover.
 
We are making every effort to test this well as soon as possible. I know that our shareholders and friends are anxiously waiting to learn the outcome. I can assure you that those of us who work for Zion (both day and night...) also want to see the testing carried out, without further delay.
 
As the Book of Ecclesiastes says, "The end of the matter is better than its beginning, and patience is better than pride" (Ecc. 7:8)
 
We have taken years to reach this point, let us not lose faith due to a few weeks of unavoidable delay (Nahum 1:7).
 
 
 

 

Drilling Operations on the Elijah #3 Well
 
When drilling started, it began slowly, as we were drilling boulders and very hard formations before we could get much weight on the drill bit.
 
However, as we continued working and drilled deeper, the drilling became easier and progress became much more satisfactory.
 
Today, Friday, October 30, 2009 we have drilled to a depth of approximately 1,800 feet (550 meters) and are making good progress. We anticipate working on the Elijah #3 well for the next six months.
 
The Issachar-Zebulun Permit Area
 
We are well into our scientific work on this area and have sent all of the existing seismic to Texas for re-processing, as there is extensive coverage over most of the license.

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, the presence or recoverability of hydrocarbons, timing and potential results thereof and plans contingent thereon and rights offering are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
 
NOTICE
Zion Oil & Gas, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about Zion Oil & Gas and its offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Zion Oil & Gas will send you the prospectus if you request it by calling toll free 1-888-TX1-ZION (1-888-891-9466).

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Dear Shareholder and/or Friend of Zion...
 
Here is an update of our progress during the past week.  
 
Operations on the Ma'anit-Rehoboth #2 Well
 
In last week's update (dated September 25, 2009) I wrote:
 
"We have decided, for the present, not to drill any deeper in this well and are now analyzing and establishing the priorities of the seven zones that warrant completion testing.   The well bore is in excellent condition and it is also possible that we will drill this well deeper in the future.  Next week, I will comment further."
 
The Ma'anit-Rehoboth #2 well was planned as a deep well in order to test the Permian geological formation and the original planned target depth was 5,500 meters (18,040 feet).
 
During the planning of the well, our geologists, basing their opinion on the available seismic and other data, believed that drilling to the planned target depth of 5,500 meters (18,040 feet) would result in us testing the Permian geological layer.
 
In September 2009, when our drilling reached a depth of 5,460 meters (17,913 feet), we had reached a depth less than 1% away from the original target depth.
 
However, during drilling, it became apparent that we were, in fact, drilling into a 'fault line'. (This means that the rock on one side of the fracture had moved with respect to the rock on the other side.) To make matters more complicated, there did not seem to have been just one fault line but more likely a 'fault zone'.
 
Due to the presence of the fault zone, the geological formation in which we were drilling required much more analysis.
 
After carrying out that analysis, we decided that, almost certainly, we were still in the Triassic geological layer and could not determine how much further we would have to drill to reach the Permian geological layer.

In the light of the uncertainty regarding the depth of the Permian geological layer at our well site and knowing that we have found seven zones that warrant completion testing, we decided that the prudent course, for the present, was to stop drilling on this well and (i) test the seven zones mentioned, as well as (ii) carry out further analysis on the geology, using the drilling and logging data obtained in the last weeks. However, at a later stage, if we decide to, we can drill this well deeper.
 
Not only did we have the benefit of our internal experts, Dr. Druckman, Dr. Kashai and Stephen Pierce who between them have over 100 years of professional experience, but we also received input from external organizations and experts, such as the 'The Geophysical Institute of Israel' and Dr. Dorit Korengrin and Dr. Brian Conway of 'The Geological Survey of Israel'.
 
The Geophysical Institute of Israel specializes in the application of geophysical methods for mapping the structure and characteristics of the subsurface; their website address is:
 
http://www.gii.co.il/index.php?page_id=1&lang_action=change_lang&to_lang=en

The Geological Survey of Israel is involved in earth science research and development; their website address is:
http://www.gsi.gov.il/eng/
 

Rights Offering
 
This week, on October 1, 2009, in response to comments received from the Securities and Exchange Commission (SEC), Zion filed an additional amendment to the registration statement.
 
As amended, the proposed Rights Offering will offer a maximum of 3.6 million shares of stock at $5.00 for each share of stock. Should the rights offering be fully subscribed, the company will receive gross proceeds of $18 million.
 
Under the (amended) rights offering, stockholders have the right to purchase twenty three (23) shares of stock for every one hundred (100) shares of common stock owned on the (to be determined) record date.  This is identical to 0.23 subscription rights for each share of common stock owned on the record date.
 
If you were among the many hundreds of our stockholders who did not receive as many $5.00 shares as you subscribed for in the earlier rights offering, this is your 'second chance' opportunity. Obviously, this offer is open to everyone who is a stockholder of record on the (as yet undetermined) record date.
 
The offering can only 'go effective' (or in plain language, 'begin') when the SEC has completed its review, so we patiently wait.
 

CBN NEWS Interview

 

On Wednesday of this week, as you can see in the photographs, Chris Mitchell, the Middle East Bureau Chief of CBN NEWS visited us, in order to interview John Brown and visit the site of the Ma'anit-Rehoboth #2 well.
 
John explained his vision, gave Chris Mitchell an understanding of the history of Zion Oil & Gas and then I gave CBN NEWS a guided tour of our operations. It transpired that some members of the CBN NEWS photographer's family were enthusiastic Zion shareholders. I'll let you know when the article has been published and/or broadcast.
 
The CBN NEWS website address is: http://www.cbn.com/cbnnews/
 

Thank you for your support of Zion and Shalom from Israel
 
Richard Rinberg 
CEO of Zion Oil & Gas, Inc.
www.zionoil.com
 

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, timing and potential results thereof and plans contingent thereon and rights offering are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
 
NOTICE
Zion Oil & Gas, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about Zion Oil & Gas and its offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Zion Oil & Gas will send you the prospectus if you request it by calling toll free 1-888-TX1-ZION (1-888-891-9466 ).
 

Dear Shareholder and/or Friend of Zion...

This past week, we have made good progress on a number of fronts, as you will read below.
 
Drilling Operations on the Ma'anit-Rehoboth #2 Well
 
As I noted last week, after some operational difficulties, we decided to continue with directional drilling, just in case there was any remaining junk in the hole (caused by the previous failure of a drill bit). However, the directional drilling team could not get the drill bit to maintain the required angle, so we took a (carefully) calculated risk and started to drill vertically.
 
I am pleased to report that, this past week, we have been successful in drilling to a depth of
approximately 17,913 feet (5,460 meters).
 
Our original target depth was approximately 18,044 feet (5,500 meters),
so this week we were drilling within the last 'one percent' of our originally proposed target depth.
 
In oil and gas exploration, probably the most difficult decision that one makes is on the question of 'when to stop drilling'. There is always the risk of catastrophic failure of the drill string and so losing the entire hole...
and the risks (and costs) increase exponentially the deeper the hole.
 
In light of all the information that we now have, we decided to stop drilling any deeper and
analyze and prioritize the seven zones that warrant completion testing.
 
There were a number of factors that influenced our decision not to drill deeper, including the fact that we have been drilling for almost a month with a long section of 'open hole', (that is, a long section without casing to protect the hole). The longer one drills without casing, the more chance there is of losing the hole completely, as the sides may cave into the well.
 
So, this week, we reamed the hole to the bottom (that is, we slightly enlarged the wellbore) and,
as I write, are pulling the drill string out of the hole.
 
Next week, we will probably run a velocity survey and possibly some more wire line logs
(for example resistivity and gamma ray logs), before we decide on the order and procedure regarding the completion testing.
 
In the meantime, the 2,000 horsepower drilling rig can soon be 'rigged down', moved to the site of the
Elijah #3 well and then 'rigged up' again - this will take approximately two weeks.
We will use a much smaller rig for completion operations on the Ma'anit-Rehoboth #2 well.
 
In conclusion, the drilling phase of the Ma'anit-Rehoboth #2 well has been successfully concluded
and we can now move on to the testing phase for that well. 

Rights Offering
 
As you can read in the September 15, 2009, Press Release below, Zion has filed with the Securities and Exchange Commission (SEC) an amendment to the registration statement which was filed in July 2009,
with respect to a proposed Rights Offering to our common stockholders.
 
As amended, the proposed Rights Offering will offer a maximum of 3.6 million shares of stock at $5.00 for each
share of stock. Should the rights offering be fully subscribed, the company will receive gross proceeds of $18 million.
 
Under the newly amended rights offering, stockholders have the right to purchase twenty three (23) shares of
stock for every one hundred (100) shares of common stock owned on the (to be determined) record date. 
This is identical to 0.23 subscription rights for each share of common stock owned on the record date.
 
After the filing, I commented:
 
"As we near completion of the drilling phase of the Ma'anit-Rehoboth #2 well (in Zion's Joseph license) and prepare the site for drilling the Elijah #3 well (in Zion's Asher-Menashe license), we are already considering a subsequent #4 well.
As a result, we decided to increase the number of shares available in the proposed rights offering."
 
If you were among the many hundreds of our stockholders who did not receive as many $5.00 shares as you
subscribed for in the earlier rights offering, this is your 'second chance' opportunity. Obviously, this offer is
open to everyone who is a stockholder of record on the (as yet undetermined) record date.

After the filing, I commented:
 
"As we near completion of the drilling phase of the Ma'anit-Rehoboth #2 well (in Zion's Joseph license) and prepare the site for drilling the Elijah #3 well (in Zion's Asher-Menashe license), we are already considering a subsequent #4 well.
As a result, we decided to increase the number of shares available in the proposed rights offering."
SEE Highlighted area below
 
If you were among the many hundreds of our stockholders who did not receive as many $5.00 shares as you subscribed
for in the earlier rights offering, this is your 'second chance' opportunity. Obviously, this offer is open to everyone
who is a stockholder of record on the (as yet undetermined) record date.
 

Thank you for your support of Zion
 
Shalom from Israel and Shana Tovah
Richard Rinberg 
CEO of Zion Oil & Gas, Inc.
www.zionoil.com

 
Dallas, Texas and Caesarea, Israel - September 15, 2009 - Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that it has filed an amendment, with the Securities and Exchange Commission, to the registration statement that it originally filed on July 30, 2009, with respect to a proposed rights offering to its common stockholders.
 
In the amendment, Zion increased the number of shares of its common stock that can be purchased in the rights offering from 2.0 million shares to 3.6 million shares.  Each whole subscription right will entitle the holder to purchase one share of common stock for $5.00.
 
Zion's Chief Executive Officer, Richard Rinberg, commented today that, "As we near completion of the drilling phase of the Ma'anit-Rehoboth #2 well (in Zion's Joseph license) and prepare the site for drilling the Elijah #3 well (in Zion's Asher-Menashe license), we are already considering a subsequent #4 well. As a result, we decided to increase the number of shares available in the proposed rights offering."
 
Under the newly proposed rights offering, stockholders would have the right to purchase
twenty three (23) shares of stock for every one hundred (100) shares of common stock
owned on the (to be determined) record date. 
This is identical to 0.23 subscription rights for each share of common stock owned on the record date.
 
Stockholders who fully exercise their rights will be entitled to subscribe for additional shares of common stock,
if available, that were not subscribed for by other rights holders.

Should the rights offering be fully subscribed, the company expects to receive gross proceeds of $18 million.
The proceeds from the rights offering will be used for Zion's multi-well drilling program.

The record, commencement and initial expiration dates for the offering will be determined at the time
that the registration statement relating to the rights offering becomes effective.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission
but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted,
prior to the time the registration statement becomes effective.
 
Zion Oil & Gas, a Delaware corporation, explores for oil and gas in Israel in areas located on-shore between
Haifa and Tel Aviv. It currently holds two petroleum exploration licenses, the Joseph and the Asher-Menashe Licenses, between Netanya, in the south, and Haifa, in the north, covering a total of approximately 162,000 acres and the Issachar-Zebulun Permit Area, adjacent to and to the east of Zion's Asher-Menashe license area,
covering approximately 165,000 acres. Zion's total petroleum exploration rights area is approximately 327,000 acres.

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, timing and potential results thereof and plans contingent thereon and rights offering are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
 
NOTICE
Zion Oil & Gas, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about Zion Oil & Gas and its offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Zion Oil & Gas will send you the prospectus if you request it by calling toll free 1-888-TX1-ZION (1-888-891-9466 ).

This week's update will be shorter than normal as, this past week, Zion's Founder and Chairman of the Board,
John Brown, Chief Executive Officer, Richard Rinberg, President and Chief Operating Officer, Glen Perry and
Chief Financial Officer, Sandra Green, were all in New York City, in order to ring the opening bell at the NASDAQ market site in Times Square, as Zion switched the listing of its stock and warrants to NASDAQ. 
 
On September 2, 2009, Zion participated in NASDAQ's opening bell-ringing ceremony, at which Zion began to be traded on NASDAQ's Global Market. You can watch a video of the ceremony on Zion's website, or by clicking the link here:

 

Drilling Operations on the Ma'anit-Rehoboth #2 Well
 
Information has begun to arrive from the analysis of the logging procedures carried out on the
Ma'anit-Rehoboth #2 well and has caused some debate among our geologists. The geology at the (current)
bottom of our well is not quite what was expected. Of course, with exploration, the unexpected is to be expected.
 
In light of the new data received, Zion's geologists have been busy with their own analysis and have been updating our scientific database. As always, scientific analysis can take some time, but it is better to allow for proper consideration of the data, so that we can drill on and test the Permian geological layer which was and still is the main objective of this well.  
 
In any event, this week, a cement plug was set at the bottom of the hole, in order to 'sidetrack' the hole,
i.e. drill at an angle, in order to go around any remaining junk in the hole (caused by the previous failure of a drill bit).
By giving up a few meters of the hole we have protected the drilling operation from further complications
due to any un-recovered pieces of metal interfering with the drill bit.
 
Late this past week, we started in the well to continue drilling towards 'the deep that lies beneath'
(Deut 33:13) and are watching carefully and with no small fascination to see what transpires.

Operations on the site of the proposed Elijah #3 Well
This past week we continued with site preparation work (especially compacting the site to ensure
rig stability) and are progressing on schedule. We believe that, at the appropriate time, we will be able
to move from the Ma'anit-Rehoboth #2 well to the site of the Elijah #3 well in a satisfactory and smooth manner.
 

(New) Rights Offering
 On Wednesday, July 29, 2009, Zion filed a registration statement with the Securities and
Exchange Commission (SEC) with respect to a proposed Rights Offering to its common stockholders.
 
The registration statement is currently under review by the SEC.

 

Thank you for your support of Zion

Shalom from Israel
Richard Rinberg 
CEO of Zion Oil & Gas, Inc.
www.zionoil.com
 

FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations, geophysical and geological data and interpretation, anticipated attributes of geological strata being drilled, drilling efforts and locations, timing and potential results thereof and plans contingent thereon and rights offering are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
 
NOTICE
Zion Oil & Gas, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about Zion Oil & Gas and its offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Zion Oil & Gas will send you the prospectus if you request it by calling toll free 1-888-TX1-ZION ( 1-888-891-9466 ).

UPDATE; August 29, 2009
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Drilling Operations on the Ma'anit-Rehoboth #2 Well
 
This week, I want to share with you a number of photographs taken during the past week. The photographs,
together with my comments, will update you regarding some of our work during the past seven days.
 
An important part of our geological work during drilling is to continually examine the rock cuttings from the well bore
(brought up to the surface by the circulating drilling mud) and match that physical evidence against the 'expected' rock cuttings. In our database of scientific information, we maintain a computer model of the expected rock strata.
 
As more information is gathered, the computer model is amended and in the event of a material difference
between the 'actual' and the 'expected', it may be highly desirable to obtain further information by 'logging'.
 
You may remember (from our previous logging) that the definition of 'logging' is:
 'to test and evaluate the well, using electrical wireline well logs'.
 
The 'sonde' is lowered down the hole on a 'wireline' and various measurements are recorded.
 
The 'sonde' is a cylinder filled with instruments that can sense the electrical, radioactive and
sonic properties of the rocks (and their fluids) and the diameter of the wellbore.
 
The 'wireline' is an armored cable with steel cables surrounding conductor cables in insulation.
It is reeled out from a drum in the back of the logging truck.
 
The data from the sonde is transmitted up the cable to instruments in the logging truck and recorded.
 
Using state-of-the-art Baker Atlas logging equipment, we are able to obtain very high-quality data.
This past week, we logged an interval of approximately 500 meters; from a depth of
approximately 4,825 meters down to approximately 5,325 meters.
 
Here are the photographs:

Carrying out a logging tool

...then, up the ramp...

..and down into the Well

Outside the Baker Hughes (Baker Atlas) Logging Unit

Inside the Baker Hughes (Baker Atlas) Logging Unit

Glen Perry examining one of the logs

The logging will enable us to make decisions based on scientific evaluation rather than hunches and guesstimates.
 So, this past week, we are still at a depth of approximately 17,470 feet (5,325 meters),
close to our final target of approximately 18,040 feet (5,500 meters).
 

Operations on the site of the proposed Elijah #3 Well
This past week we have continued with site preparation work. Using earth moving equipment,
we have made the location level and have spread approximately 50 tons of gravel on top of the soil
(and that is just the base layer). We need to have a very firm and level surface for the drilling rig to stand on.
The water connection has been completed and the reserve pit has been dug, so we are on schedule.
 

(New) Rights Offering
On Wednesday, July 29, 2009, Zion filed a registration statement with the Securities and
Exchange Commission (SEC) with respect to a proposed Rights Offering to its common stockholders.
 The registration statement is currently under review by the SEC.

NASDAQ Stock Exchange
 
Stock trading began in 1688 in London, England and, in 1792, twenty-four New York stock brokers agreed to establish an exchange in Wall Street. In 1817 that exchange was renamed 'The New York Stock & Exchange Board'.
 
NASDAQ (National Association of Securities Dealers Automated Quotation) was established in 1971.
This was the first stock exchange to introduce the concept of electronics in stock trading and is one
of the most efficient stock exchanges in the world.
 
As you can read in our (August 17, 2009) press release, we are switching the listing of our stock and warrants from the NYSE Amex to the NASDAQ Global Market (NGM). NASDAQ is the largest U.S. electronic stock market.
 
We have received approval from the NASDAQ stock exchange and anticipate that our stock and warrants will start trading on NASDAQ, this coming week, on September 2, 2009.
 
This switch should not trouble you, as Zion's common stock will continue to trade under the symbol ZN. 
Zion's warrants will trade under a new symbol, ZNWAW.
 
We are scheduled to participate in NASDAQ's opening bell-ringing ceremony on September 2, 2009 and
will provide a link for you, on Zion's website, so that you can watch the proceedings 'live'.
 
A live webcast of the opening bell ceremony will be available on September 2 from 9:20 a.m. to 9:35 a.m. EDT (Eastern Daylight Time) or, if you prefer, 9:20 a.m. to 9:35 a.m. New York time, at:
 

www.zionoil.com
 
and
 
http://www.nasdaq.com/about/marketsitetowervideo.asx

We believe that listing on NASDAQ will be positive for Zion, as we anticipate increased: (i) investor attention, (ii) analyst attention, and (iii) liquidity in our stock.
 
We also believe that listing on NASDAQ will be positive for those buying or selling Zion stock, as we anticipate: (i) lower costs per trade, and (ii) faster execution times.
 
As Zion Oil & Gas, Inc. continues to grow, we also project that our annual listing costs on NASDAQ will be less expensive.
I am not afraid to admit that keeping administrative costs under control is a major priority for us.
 
But we don't forget for a moment that our primary objective is to find and recover hydrocarbons in Israel. 
 
 

"In your good pleasure, make Zion prosper..."
Psalm 51:18
 

Contact Information

More information about Zion is available at www.zionoil.com or by contacting Kim Kaylor at Zion Oil & Gas, Inc.,
6510 Abrams Rd., Suite 300, Dallas, TX 75231; telephone 1-214-221-4610; email: dallas@zionoil.com

UPDATE; August 7, 2009
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~