Zion Oil Begins Drilling Elijah #3

According to Zion CEO Richard Rinberg’s ‘Zion Oil & Gas Newsletter’, Zion Oil began drilling the Elijah #3 well last week and by last Friday’s report, drilling depth on the Elijah #3 had reached 400 feet.

The Elijah #3 well site is located on northern Israel’s coastal plain near Mount Carmel, between Caesarea and Haifa, in Zion’s ‘Asher/Menashe” license area. Zion Oil’s Elijah #3 isn’t the first oil well to be drilled in this area and Zion Oil isn’t the first company to come to this region, known in the Bible as the ‘foot of Asher’, seeking the fulfillment of an ancient Bible prophecy. “And of Asher he said, Let Asher be blessed with children; let him be acceptable to his brethren, and let him dip his foot in oil.‘” (Deuteronomy 33:24)

Wesley Hancock

In 1961, Bible believing Californian, Wesley Hancock was awarded an exploration license area of 97,000 acres including Mount Carmel and extended into parts of the Jezreel Valley, known as the “Valley of Megiddo,” site of the prophesied last days battle of Armageddon. Armed with a report forecasting Israel’s oil potential, and his Asher passage in Deuteronomy 33, Wesley went looking for Asher’s oil. On September 19, 1963 Wesley spudded the Asher #1, north and east of Mount Carmel near Haifa. Asher #1 had reached a depth of 7,800 feet when the drill head twisted off, taking seven drill collars with it. After the twist-off, chances of drilling any deeper were nil. By January of 1964, testing in the hole above 7,800 feet revealed that the Asher #1 was dry. In 1965 Wesley commissioned a hydrocarbon survey of his license area. This was the first petroleum survey of its kind in Northern Israel. The survey results led to choosing his location for the Asher #2 well. Hancock drilled the Asher #2 to a depth of 4,300 feet and core samples showed traces of oil. The Asher #2, however, was shut down; Hancock, without any other investors, had run out of money and was unable to continue drilling.

Gilman Hill

In 1979 Gilman Hill, an American evangelical Christian, came to Israel looking for Asher’s oil. According to Hill, God directed him to drill for oil and showed him the well’s location during a 1978 tour of Mount Carmel. Gill had completed preliminary geological surveys and fulfilled permit requirements to begin drilling by 1980.
Hill’s well, Elijah #1, was planned to be drilled to the upper Triassic strata, a depth of 15,000 to 16,000 feet. At 8,900 feet Gilman halted the drilling. According to Hill, God gave him the message, “circumstances have changed,” Gil was convinced that he was to cease drilling until further notice from God. Gil continued his geologic research for another six years waiting for a Divine release to resume drilling. The release never came. After spending $6 million of his own money on Mount Carmel, drawn by the Bible’s promise that Asher would “dip his foot in oil,” Gilman Hill had failed to find the elusive flow.

Andy SoRelle

About the same time Hill started drilling Elijah #1, a Texas oil man named Andy SoRelle was busy preparing to drill the Atlit #1 well near Haifa, known as the Asher Project. SoRelle’s well was spudded in February 1981, the same year Jim Spillman’s book, The Great Treasure Hunt,  was released. Spillman and SoRelle were mutual supporters, each understandably interested in the work of the other. Throughout the Asher Project  SoRell updated Spillman on the progress of the well they both believed would strike the oil God had promised.
At 9,400 feet the drill bit hit volcanic rock.  They drilled down through another 7600 feet before finally coming into limestone again. The drill bit, now at 17,296 feet was way beyond the rig’s capacity. Fearing he would lose the hole, Atlit’s drilling supervisor shut down the operation until a larger rig could be brought in.
December 28, 1982 a new drill rig, rated at 26,000 feet was installed over the original hole. This new phase, dubbed the Atlit #II was planned to bring the well as deep as 23,000 feet. By February of 1983 the well had been cleaned out and depth had been increased to 18,000 feet.
Drilling continued without incident until, at 20,570 feet Atlit II struck oil! What oil experts call “very good shows” came to the surface; graded as light oil at 35 to 40 degrees API. SoRelle continued to a final depth of 21,431 feet. The zone of oil bearing rock, was estimated at 470 feet, from 20,570 to 21,309 feet. Two years after spudding, the drilling phase of the Atlit well was finally complete!
During development problems emerged again. Financing for the project had been on a shoe-string at best. The crew had stopped casing the well at 13,772 feet.  Not having funds for additional casing and reasoning that the volcanic rock they had struggled through was stable enough to hold the hole open the crew had continued drilling in “open hole.”

As the crew was cleaning the hole in preparation for the production casing, drill collars stuck at 18,669 ft and two weeks of jarring would not break them loose. Special equipment was flown to retrieve the string (130 ft. in length) and, while cleaning the hole to “fish” with the new equipment they stuck again at the 17,772 ft mark. After ten more days of trying to break loose, they came out leaving another 8 ½ foot fish in the hole.

August 24, 1983, more than two and a half years after spudding, Andy SoRelle called it quits for the Atlit hole.  Having spent more than $25 million, his own money and that of his investors, Andy gave up on the Atlit well.

The history of the search for Asher’s oil doesn’t seem very promising. But if God said of Asher, ‘… let him dip his foot in oil …’ then I’m convinced He’ll keep His promise in His own time. One thing I do know; the oil is down there. Hancock saw it and SoRelle saw it. That Asher’s oil exists is a fact, when it will be brought to the surface is the only question.

Zerah teams with Delek to expand Dead Sea oil exploration

GLOBES

Thu. October 15, 2009

Zerah teams with Delek to expand Dead Sea oil exploration: In 1995, a 2,000-meter well was drilled in the Halamish section, which found oil and gas.

Zerah Oil And Gas Explorations LP (TASE: ZRAH) is expanding its activity in the Dead Sea. The company has bought the 335-square kilometer Zurim license from Fore Group Ltd. subsidiary Ginko Oil Exploration Ltd., which abuts Zerah’s license. Delek Group Ltd. (TASE: DLEKG) units owns half of a 35 square kilometer section of the Zurim License, known as the Halamish section through Delek Drilling LP (TASE: DEDR.L) and Avner Oil and Gas LP (TASE: AVNR.L).

Zerah will pay for the Zurim license out of future revenue from oil or gas production, if any. Zerah will pay Ginko a 2.5 percent royalty of revenue and provide it a $2 million grant, provided that an independent expert determines that the oil and gas reserves in the license are worth at least $250 million. In addition, the Supervisor of Oil at the Ministry of National Infrastructures will have to declare a discovery at the license, and the partnerships’ revenue from a discovery at the Zurim license will exceed $100 million.

In 1995, a 2,000-meter well was drilled in the Halamish section, which found oil and gas. However, no production was carried out because the price of oil at the time rendered the discovery uneconomical.

The Halamish partners intend to drill a new well at the site, which is about five kilometers from Tzuk Tamrur 4 site, where Zerah and Delek are due to begin drilling a well this month. The 2,000-meter well will cost $4-5 million. A seismic study of the structure found a closed structure with 6.6 million barrels of good-quality oil, currently worth a gross value of $470 million.

Zion Oil Rights Offering Declared Effective

Globes Newswire October 13, 2009

DALLAS and CAESAREA, Israel, Oct. 13, 2009 (GLOBE NEWSWIRE) — Zion Oil & Gas, Inc. (Nasdaq:ZN – News) announced today that the registration statement for its previously announced common stock rights offering was declared effective by the Securities and Exchange Commission on October 9, 2009. The offering will be open to all holders of record on October 19, 2009 (the “Record Date”).

Under the terms of the rights offering described in the prospectus contained in the registration statement, Zion will distribute to each person who own shares of Zion common stock on the Record Date non-transferable subscription rights to purchase shares of Zion’s common stock. Each shareholder of record on the Record Date will receive 0.23 of a subscription right for each share of common stock owned on the Record Date. This is equivalent to twenty three (23) subscription rights for every one hundred (100) shares of common stock owned on the Record Date. The Company will not distribute any fractional rights; fractional subscription rights will be rounded up to the next largest whole number. Each whole subscription right entitles the holder to purchase one share of common stock at a purchase price of $5.00 per share.

Shareholders who fully exercise their rights will be permitted to subscribe for additional shares of common stock, if available, that were not subscribed for by other rights holders. The subscription rights are non-transferable. The aggregate amount of stock available in the rights offering is 3.6 million shares.

As soon as possible after the Record Date, Zion plans to mail to holders of its common stock (as of the close of business on the Record Date) a prospectus and other items necessary for exercising the rights. Shareholders who hold their shares in a bank or broker name will receive the rights offering material from their bank or broker. The prospectus will contain a description of the rights offering and other information. The subscription rights will be exercisable until the close of business on November 30, 2009, unless Zion elects to terminate the offering prior to the scheduled expiration date by giving two business days notice or unless Zion elects to extend the offering.

Noble Energy Declares Dividend, Stock Upgraded

PRNewswire-FirstCall

HOUSTON, Oct. 27

Noble Energy, Inc.’s (NYSE: NBL) board of directors today declared a quarterly cash dividend of 18 cents per common share payable November 23, 2009 to the shareholders of record on November 9, 2009.

Noble Energy is a leading independent energy company engaged in worldwide oil and gas exploration and production. The Company operates primarily in the Rocky Mountains, Mid-Continent, and deepwater Gulf of Mexico areas in the United States, with significant international operations offshore Israel and West Africa. Noble Energy is listed on the New York Stock Exchange and is traded under the ticker symbol NBL. Visit Noble Energy online at www.nobleenergyinc.com.

Associated Press

10/26/09

Noble upgraded to “Outperform” on increased oil focus, future accelerated production growth

NEW YORK — Shares of oil and gas producer Noble Energy Inc. have been dragged down too far by the plunging value of its natural gas assets as natural gas prices have fallen, said an analyst on Monday as he upgraded the stock.

Noble Energy’s shares are positioned to rise as the company sheds natural gas properties and shifts its investments to crude oil, which has rebounded significantly in price over the course of the year, said RBC Capital Markets analyst Leo Mariani. The move will boost shares of the company, due to better economics, given the recent rebound in oil prices, which outshine lagging natural gas prices.

Mariani said in a research note released before the start of regular trading that Noble’s share price is too-severe a discount for a company that is shifting so much of its operations to oil. He upgraded his rating on Noble’s shares to “Outperform” from “Sector Perform” and raised his price target to $90 from $85.

Mariani expects that 41 percent of Noble’s 2009 production will be based on crude, but should increase to over 60 percent by 2013.

“Noble’s best economics are in deepwater Gulf of Mexico, West Africa and Israel regions, and we expect it to devote most of its capital to these crude-weighted regions.”

News Short – Zerah Oil Exploration

Jerusalem Post
Oct 27, 2009

Zerah Oil Gas Exploration fell 2.1%. The oil- and gas-exploration company said the start of drilling at the Zuk Tamrur 4 site, which had been scheduled for October, was postponed because of machine-order delays.

Steve Spillman on ‘The Jewish Voice’ Television Program

Steve Spillman, author of Breaking the Treasure Code: the Hunt for Israel’s Oil will appear with Jonathan Bernis, host of The Jewish Voice television program for a thirty minute interview. The show will be about Israel’s search for oil and how the Bible’s prophecy of “… the blessings of the deep” are being fulfilled in Israel today.

The show will air on several Christian television networks and independent stations beginning Monday, October 12.  Don’t miss this important interview! Below is a listing of times and stations in your area.

JV Today Weekly Schedule
Market		800#	TV Station	Affiliate	Time Period
National	MON	800-509-9588	TCC-Church Chan		Mon 7:30am (PT)
Tampa, FL	MON	800-514-4588	WCLF-TV 22	Ind	Mon 11:30am (EST)
Dallas	MON	800-514-4588	KTAQ – TV 47	Ind	Mon 1:00pm (CST)
Orlando, FL	MON	800-514-4588	WACX – TV 9	Ind	Mon 7:30pm (EST)
National	TUES	800-588-9722	Angel One		Tue 8:30am (EST)
Bellingham, WA/Vanouver BC	TUES	800-514-4588	KVOS-12	Ind	Tues 9:30am (PST)	Start: 9/8/09
National	TUES	800-305-7140	Daystar		Tue 10:00am (CST)
El Paso, TX	TUES	800-514-4588	KSCE-TV 38	Ind	Tue 7:30pm (CST)
Tampa, FL	TUES	800-514-4588	WCLF-TV 22	Ind	Tue 11:30pm (EST)
National	WED	800-509-9588	TCC-Church Chan		Wed 4:30am (PT)
Orlando, FL	WED	800-514-4588	WACX – TV 9	Ind	Wed 3p (EST)
National	WED	800-306-0162	WHT Network	LeSea	Wed 6:30 PM (EST)
National	THUR	800-509-9588	TCC-Church Chan		Thu 8:30a (EST)
National	THUR	800-588-9722	Angel One		Thu 8:30a (EST)
Phoenix, AZ	THUR	800-514-4588	KPAZ-TV 21	TBN	Thu 9:30am (AZ local time)
National	THUR	800-588-0249	Cornerstone		Thu 5:30 PM (EST)
National	THUR	800-902-6346	NRB Network		Thu 7:30p (EST)
National	FRI	800-306-0162	WHT		Fri 3:30a (EST)
Orlando, FL	FRI	800-514-4588	WACX – TV 9	Ind	Fri 11:00a (EST)
National	FRI	800-588-0249	Cornerstone		Fri 11:30a (EST)
Dallas	FRI	800-514-4588	KTAQ – TV 47	Ind	Fri 1:30p CST	Start: 9/18/09
ational	FRI	800-509-9588	TCC-Church Chan		Fri 4:00p (PST)
National	SAT	800-902-6346	NRB Network		Sat 5:30 PM (EST)
Dallas	SAT	800-514-4588	KTAQ – TV 47	Ind	Sat 6:00p (CST)
National	SAT	800-588-0249	Cornerstone		Sat 7:30 PM (EST)
Orlando, FL	SUN	800-514-4588	WACX – TV 9	Ind	Sun 12:30am (EST)
Orlando, FL	SUN	800-514-4588	WTGL	Ind	Sun 7:00am (EST)
National	SUN	800-588-9588	Cornerstone		Sun 9:00am (EST)
National	SUN	800-588-9722	Angel One		Sun 10:00am (EST)
Philadelphia PA	SUN	800-514-4588	WFMZ	Ind	Sun 9:30 am (EST)
Orlando, FL	SUN	800-514-4588	WTGL	Ind	Sun 12:00pm (EST)
El Paso, TX	SUN	800-514-4588	KSCE-TV 38	Ind	Sun 5:00pm (CST)
National	SUN	800-306-0162	WHT		Sun 12:00p EST
Orlando, FL	SUN	800-514-4588	WTGL	Ind	Sun 7 pm (EST)
National	SUN	800-902-6346	NRB Network		Sun 7:00 PM (EST)
National	SUN	800-588-9722	Angel One		Sun 8:30pm (EST)
Cleveland, OH	SUN	800-514-4588	WGGN-TV 52	Ind	Sun 9:30pm (EST)
International		800-306-0161	Miracle (CJIL)		Tue 9:00pm (MST)
Canada					Thurs 5p
					Fri 5a (MST)
					Sat 9p (MST)
					Sun 2:30p (MST)
International		800-2200-2401	GOD TV  UK		Thurs 12p
UK		800-2200-2401	GOD TV  UK		Wed 12:30p
		800-2200-2401	GOD TV  UK		Sun 11:30a
International		800-305-7527	GOD TV  US		Wed 12:30p EST
International Outreach – Not on Media Reports:
CNL Russia
		Wednesday 10am
		Sunday 11:55am
Life TV  Russia		Tuesday 8pm
		Wednesday 12pm
		Wednesday 3am

Zion Oil Begins ‘Completion Testing’ of Ma’anit Rehoboth #2

According to Zion CEO Richard Rinberg in last week’s ‘Zion Oil & Gas Newsletter’: “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.”

With as many questions as I receive about Zion’s progress, there seems to be a general assumption that producing oil and gas is simply a matter of drilling a hole and letting the hydrocarbons bubble out … that’s what I thought. I’ve learned it’s more involved that that. With Zion Oil in the ‘completion testing’ phase of the Ma’anit-Rehoboth #2 well, now might be a good time to explain what that is and how a ‘hole in the ground’ becomes a producing well.

Most of text below comes from the United States Department of Labor website.

Once the design well depth is reached, the formation must be tested and evaluated to determine whether the well will be completed for production, or plugged and abandoned. To complete the well production, casing is installed and cemented and the drilling rig is dismantled and moved to the next site. A service rig is brought in to perforate the production casing and run production tubing. If no further pre-production servicing is needed, the christmas tree is installed and production begins.

Well completion activities include:

Conducting Drill Stem Test: To determine the potential of a producing formation, the operator may order a drill stem test (DST). The DST crew makes up the test tool on the bottom of the drill stem, then lowers it to the bottom of the hole. Weight is applied to the tool to expand a hard rubber sealer called a packer. Opening the tool ports allows the formation pressure to be tested. This process enables workers to determine whether the well can be produced.

Setting Production Casing: Production casing is the final casing in a well. It can be set from the bottom to the top. Sometimes a production liner is installed. This casing is set the same as other casings, then cemented in place.

Installing Production Tubing: A well is usually produced through tubing inserted down the production casing. Oil and gas is produced more effectively through this smaller-diameter tubing than through the large-diameter production casing. Joints of tubing are joined together with couplings to make up a tubing string. Tubing is run into the well much the same as casing, but tubing is smaller in diameter and is removable.

Starting Production Flow: Production flow is started by washing in the well and setting the packer. Washing in means to pump in water or brine to flush out the drilling fluid. Usually this is enough to start the well flowing. If not, then the well may need to be unloaded. This means to swab the well to remove some of the brine. If this does not work the flow might be started by pumping high-pressure gas into the well before setting the packer.

If the well does not flow on its own, well stimulation or artificial lift may need to be considered.

Beam Pumping Units: If the well doesn’t produce adequately, a beam pumping unit may be installed. There are four basic types of beam pumping units. Three involve a walking beam, which seesaws to provide the up and down reciprocating motion to power the pump. The fourth reciprocates by winding a cable on and off a rotating drum. The job of all four types is to change the circular motion of an engine to the reciprocating motion of the pump.

The explanation above depicts, very simply,  the completion program for most wells. Much more activity and many processes such as acidising, fracturing and nitrogen circulation may take place before the well is actually ready for production. My goal was to let you know the kind of activities that must take place before a ‘hole in the ground’ becomes a well.

When we built our house I was so excited when the framing and the roof were complete; when the contractors installed the siding and I saw the house from the outside I thought, “Wow, this baby is just about finished!” I had no idea how much time and work was involved in building the inside of the house.

I’m learning that ‘building’ an oil well is similar. There’s a lot more to it than the hole. Zion Oil is in the middle of ‘down-rigging’ now; they’re disassembling the drilling rig at the Ma’anit-Rehoboth #2 so they can move it to the Elijah #3. While they work on ‘building the inside of the house’ at the Ma’anit-Rehoboth #2, they’ll begin work on the ‘outside of the house’ at the Elijah #2 site. That’s goods news!

Zion Oil October 2, 2009 Company Update

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

Zion Oil & Gas Newsletter

October 2, 2009

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

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/

Preparations at the site of the Elijah #3 Well

This coming week, we plan to start rigging down (at the Ma’anit site) and start moving the drilling rig and equipment to the site of the Elijah #3 well.

We have initiated our security on the area and equipment has now started to arrive on site.

We have set the ‘conductor pipe’; that is, a short length of pipe, driven into the ground. Conductor pipe is run because the initial shallow section of the well is drilled in unconsolidated soil rather than consolidated strata (i.e. solid formations) encountered deeper.

We estimate that we will start drilling in approximately the middle of October 2009.

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/

“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, 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 ).

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