Zion Oil Jan 15 Update

Zion Oil & Gas Newsletter

January 15, 2010

Dear Shareholder and/or Friend of Zion…

There has been quite some discussion by our staff regarding Zion’s weekly updates, as not every week contains ‘news to report’ on every part of our exploration license and permit areas.

The general feeling was that if there is nothing new to report then we should simply state that fact. There will be weeks with much to report and there will be weeks with little to nothing new to report.

Turning to the Book of Ecclesiastes (1:9-10), there is the well known comment:
What has been will be again, what has been done will be done again; there is nothing new under the sun.

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.
So, I am not going to continually repeat information that has already been sent to you. Where there is ‘no news to report this week’, I will write just that. But you can be certain that we are doing our best to move Zion’s exploration program forward… every day of every week.

This past week, Zion’s Founder and Chairman, John Brown, visited Israel together with Bill Ottaviani, a Petroleum Engineer who spent 25 years (1982 to 2007) working for Chevron Corporation in various countries and then two years (2007-2009) as Chief Operating Officer of Rex Energy, helping to build up Rex Energy in the USA. John Brown invited Bill Ottaviani to visit Israel as a prospective candidate for Zion’s Board and to review our operations and help advise us regarding some of the recommendations currently under technical evaluation.

Also, this week, we were visited by a team from ‘Halman-Aldubi Group’ one of Israel’s leading institutional Investment Management groups. Halman-Aldubi is the only company in Israel that deals with the management of provident funds on behalf of the public and is completely independent.

There was some Israeli Oil & Gas news released in Israel, this week. On Wednesday, January 13, 2010, the Jerusalem Post noted that Prime Minister Binyamin Netanyahu has ordered work to begin, this month, on a natural gas pipeline that will run from Dor Beach, south of Haifa, up to the oil refineries in Haifa. The significance of the Israeli government continuing to build the onshore natural gas pipeline infrastructure is that, in the event that we are successful in finding and producing commercial quantities of natural gas, the supply and distribution of that natural gas should be possible through the onshore pipeline system.

Here is this week’s operations update.

Drilling Operations at the Elijah #3 Well

The Elijah #3 site L to R: Bill Ottaviani, Richard Rinberg (Zion’s CEO), John Brown (Zion’s Founder and Chairman), Eyal Shuker (Investment Manager at Halman-Aldubi), Sandra Green (Zion’s CFO) and two analysts from Halman-Aldubi

The Elijah #3 well has been cased from the surface down to 6,706 feet (2,044 meters).

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.

As of this morning, the Elijah #3 well has been drilled to a depth of approximately 10,938 feet (3,334 meters).

Both last week and this week, we have been drilling in the Asher Volcanic Complex, composed of tuffs, weathered basalts, non-weathered basalts, red shales and red and tan mudstones.

The Ma’anit-Rehoboth #2 Well

The Ma’anit-Rehoboth #2 Well Site, showing the well head
No additional news to report this week.

The Ma’anit-Rehoboth #2 well was drilled to a depth of 17,913 feet (5,460 meters). The well penetrated a number of geologic formations that have been preliminarily deemed to have hydrocarbon potential and we retrieved a small quantity of crude oil. We are awaiting analysis of that oil and are evaluating recommendations by our engineering staff regarding further testing and possible completion procedures.

The Issachar-Zebulun Permit Area

No additional news to report this week.

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.

Finally, I’ll note that we have begun preliminary discussions with Aladdin Middle East Ltd regarding the drilling of an additional well, in order to progress and implement our multi-well program.
“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 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.

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.comhone: 1-888-891-9466

Naphtali and Bubblin’ Crude?

A friend of mine, Tom Boulting at Charter Films, Ltd. (they’re the folks producing the Zion Oil movie) sent me a note this week about a passage of scripture – Deuteronomy 33:23. “And of Naphtali he said, ‘O Naphtali, sated with favor, and full of the blessing of the Lord, possess the lake and the south.’”

This was Tom’s question: “I know that the next verse refers to Asher and dipping his foot in oil and I may be stating the obvious, but isn’t naphthalene a hydrocarbon and where is ‘the lake’ and ‘the south’? This may be irrelevant, but I just came across it and wondered if you had noticed the Naphtali/naphthalene connection.”

Tom is a wonderful guy and a great filmmaker, but he’s not a scientist or a theologian. My first impression was that he saw the name of the ancient Israeli tribe ‘Naphtali’ and made a connection (that wasn’t there) with the modern term ‘naphthalene’ – a hydrocarbon solid. It’s just a coincidence that Naphtali and Naphthalene sound the same; the two words are separated by centuries, languages and cultures. But Tom is a friend and I wanted to explain the difference between the words. I didn’t want him making connections where there weren’t any. To prove my point I researched the words, their meanings and their root … boy, was I surprised! That ‘Naphtali’ and ‘Naphthalene’ sound the same may be a coincidence, but the more I looked into it, the more the ‘coincidences’ stacked up. At this point I’m not sure what to think of the Naphtali/Naphthalene connection but it’s a pretty interesting point to ponder.

Pulling apart the words

In Hebrew “Naphtali” means “my struggle” or “I wrestle”. It was the name Jacob’s wife, Rachel gave to her second son through her maid-servant Bilhah. Rachel was “wrestling” with big sister Leah in a baby making contest. Between the two sisters and their maid-servants, they produced twelve offspring for husband Jacob, all of whom would eventually become (with a little rearranging by G_d and Joseph’s two boys) the twelve (or thirteen) tribes of Israel.

“Naphthalene” is a two part ‘scientific’ word – “naphtha” (a broad term referring to any number of liquid hydrocarbon mixtures) and “lene” (a suffix defining the object as a derivative of the root preceding). In street terms, “naphthalene” means literally “derived from naphtha”.

Stay with me – we’re about to discover something interesting!

The word “Naphtha” (a broad term for liquid hydrocarbon products) comes from a Latin term for what we know today as petroleum (which is also Latin – petro = rock, oleum = oil).  The Latin “naphtha” comes from the Greek “naphtha”, again, meaning petroleum. Want to guess where the Greek “naphtha” comes from? The Greeks got their word for petroleum from the Arabs (“naft”) and Hebrews (“neft”)!

But you’re not going to find “neft” in the Bible. The ancient Hebrews knew about petroleum oil but they called it “chemar” – the closest English translation we have today is “bubblin’ crude”, Jed Clampett style. I kid you not, that’s what the ancient Hebrews called oil from natural seeps in the Promised Land – ‘bubblin’ crude’. Jed would have been proud.

As far as I know the word “neft” didn’t come into Hebrew usage until after the Babylonian captivity. Liquid hydrocarbon seeps were also a natural phenomenon in Babylon (modern day Iraq) and the Jews brought the Babylonian term back with them. Israeli’s still use the term today.

So, does the ancient tribe of ‘Naphtali’ have any connection at all with the modern term for a petroleum product? Or is the similarity in sound just a coincidence?

Here’s where the ‘coincidences’ start to stack up.

1. The name ‘Naphtali’ is still around; but it’s now spelled ‘Neftali’.

2. The tribe of Naphtali was given land in the far north, above the Sea of Galilee (the lake of Deut 33:23) and west of the Golan Heights. On Naphtali’s western border lies Asher (“he shall dip his foot in oil”) and on its southern border lies Zebulun (“he shall suck of the abundance of the seas and of treasures hid in the sand”) – both neighboring tribes with a prophesied promise relevant to our search for oil.

3. Today Naphtali’s land is home to the Hula Valley, the suspected site of significant gas reserves and currently under exploration license with Adira energy.

4. Naphtali’s territory sits next to Asher’s and its blessing (Deut 33:23) is recorded next to Asher’s (Deut. 33:24). Naphtali’s blessing states that he will be ‘sated’ (filled up) with ‘favor’ and ‘full of blessing’.

Add those ‘coincidences’ up and we may have another piece to the Great Treasure Hunt puzzle! As I said earlier, I’m not sure what to think of the Naphtali/Naphthalene connection at this moment, but it’s a pretty interesting ‘coincidence’. I’ll keep you posted as exploration unfolds in the land of Naphtali.

P.S. In her 1997 novel The Jewish War, Tova Reich’s character Heshie Finkel, a young mathematical genius, is charged with the task of deciphering the mystical significance of ‘neft’ in order to bring oil to Israel. After extended study and the counsel of an aged rabbi he has an epiphany that ‘neft’ will come to Israel with the coming of the Messiah. Reich, a secular satirist, was poking fun; she didn’t mean for the connection between ‘neft’ and the Messiah to be mystical or prophetic. But some truths have a way popping up even when you’re not looking for them. If she turns out to be right I’ll drop her a note.

Wall Street Journal Interviews John Brown

The Wall Street Journal recently interviewed Zion Oil & Gas Founder John Brown in Israel and produced a short video for their viewers. John Brown speaks of his faith and the search for Israel’s oil. To view the Wall Street Journal video, just click on the play button below.

Asher’s Shoes of Iron and Brass?

I just stumbled on something fascinating regarding the mention of Asher’s ‘shoes’ in Deuteronomy. 33:25, “Thy shoes shall be iron and brass; and as thy days, so shall thy strength be.” (KJV). My father, Jim Spillman, as you may know, was the man who first publicly theorized that Jacob’s Blessing contained a promise of a massive oil discovery in Israel in his book, The Great Treasure Hunt. Part of his thesis included Deuteronomy 33:24 “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.” That scripture was only a small part of the evidence linking Jacob’s Blessing to an Israeli oil discovery.

The passage directly following “let him dip his foot in oil” (Deuteronomy33:25, above) states that Asher’s “shoes shall be iron and brass”. The working components of oil rigs are constructed of a combination of iron and brass in order to prevent sparking, in order to prevent oil fires. Dad always believed that Asher’s ‘shoes’ being iron and brass referred to oil rigs being constructed of iron and brass components and thus, a further fulfillment of prophecy.

Dad studied the Bible in Hebrew and Greek but the English translation he preferred was the King James Version. Something that bothered me was that other English Bible versions translated “shoes” as “bars” (ESV) or “bolts of your gates” (NIV). So I searched out the Hebrew word all these versions were translating.

Here’s what I found: The Hebrew word translated ‘shoes’ in the KJV is ‘man’al’ – Strong’s literal meaning in English is “a bolt: – shoe” The definition didn’t sink in at first because I was a little bothered about something else I discovered – this was the only time in the Bible that the Hebrew word ‘man’al’ was used as ‘shoes’. Every other mention of ‘shoe’ or ‘shoes’ in the Bible was the Hebrew word ‘na’al’ which was the common term meaning a ‘shoe’ one would wear on his foot. So clearly, there was a difference between Asher’s ‘shoes’ in Deut. 33:25 and all the other ‘shoes’ mentioned in the Bible.

I found that ‘man’al’ (bolt/shoe) and ‘na’al’ (common term for shoe) had the same root, ‘nâ’al’ (different pronunciation than ‘na’al’) – meaning ‘to fasten up’. Both the Hebrew words for ‘bolt’ and ’shoe’ come from the same root, ‘to fasten up’, because both are ‘fastened’. Only the Deut. 33:25 word ‘man’al’ carries the double meaning of bolt and shoe!

So it looks like old Dad was righter than he thought. Asher’s ’shoes/bolts’ will be iron and brass!

A final note: When the Zion Oil crew is finished with the hole at Elijah #3, they will most likely install a heavy, cylindrical section of steel filled with concrete at the end of the casing string. This is to prevent the casing string from hanging up in the hole. The proper term for the heavy steel section at the end of the casing? The guide shoe.

“Thy shoes shall be of iron and brass …” Amazing!

“After snuffing, the wellhead must be ‘capped’ to stop the flow of fuel. During this time, the fuel and oxygen required to create another inferno is present in copious amounts. At this perilous stage, one small spark (perhaps from a steel or iron tool striking a stone) or other heat source might re-ignite the fuel. To prevent re-ignition, brass or bronze tools, which do not strike sparks, or paraffin coated tools are used during the capping process.” (From: “Fire at the Wellhead”)

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

John Brown Interviewed on Fox Business

Zion Oil & Gas founder John Brown was interviewed by Alexis Glick on Fox Business Network’s “Money for Breakfast” television show.

The interview was aired early on the morning of September 3 – the day after Zion ‘rang the bell’  on Wall Street announcing the company’s entry into the NASDAQ global market.

View the interview by clicking on the image below:

Tamar partners to raise large sums for development

The partners in the Tamar and Dalit offshore natural gas fields are preparing to raise capital to develop Israel’s largest natural gas field. Delek Group Ltd. (TASE: DLEKG) subsidiary Delek Energy Systems Ltd. (TASE: DEOL) has published a shelf prospectus to raise hundreds of millions of shekels in the coming weeks and is currently working on the structure of the offering.

Delek Energy controls Delek Drilling LP (TASE: DEDR.L) and Avner Oil and Gas LP (TASE: AVNR.L), which each own 15.625% of the Tamar and Dalit prospects. Last week, both companies, authorized Noble Energy Inc. (NYSE: NBL), which owns 36% of the prospect, to buy $230 million worth of equipment and services by 2011 to develop the gas fields. Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L), which owns 28.75% of the prospect approved purchases of up to $160 million.

The partners in the Tamar and Dalit offshore natural gas fields are preparing to raise capital to develop Israel’s largest natural gas field. Delek Group Ltd. (TASE: DLEKG) subsidiary Delek Energy Systems Ltd. (TASE: DEOL) has published a shelf prospectus to raise hundreds of millions of shekels in the coming weeks and is currently working on the structure of the offering.

Delek Energy controls Delek Drilling LP (TASE: DEDR.L) and Avner Oil and Gas LP (TASE: AVNR.L), which each own 15.625% of the Tamar and Dalit prospects. Last week, both companies, authorized Noble Energy Inc. (NYSE: NBL), which owns 36% of the prospect, to buy $230 million worth of equipment and services by 2011 to develop the gas fields. Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L), which owns 28.75% of the prospect approved purchases of up to $160 million.

Dor Alon Energy in Israel (1988) Ltd. (TASE:DRAL) unit Dor Gas Exploration LP, which owns 4% of Tamar and Dalit, is also getting ready to raise capital. Dor Alon plans to split its holding in the prospects from its gas stations and convenience stores business, and create a partnership that will hold the Tamar stake. Dor Alon is working with the Israel Tax Authority on this new structure, which will make it possible for the new partnership to raise capital directly to develop the gas fields.

Dor Alon is meeting with institutional investors to hold a bond issue of up to NIS 250 million for this purpose.

Published by Globes [online], Israel business news – www.globes-online.com – on September 1, 2009

Zion Oil & Gas Rings the NASDAQ Bell

Zion Chairman John Brown, CEO Richard Rinberg and company President Glen Perry got the NASDAQ market going on Wednesday by ringing the opening bell. The ‘opening bell’ ceremony signified the first day of trading for Zion Oil & Gas on the NASDAQ market under the ticker symbol ‘ZN’.

Zion’s move from the NYSE’s AMEX exchange to the NASDAQ Global exchange will give the company access to a much wider financial market.

Zion has demonstrated that they can compete in the global financial market by continuing to hold their stock value and raise significant capital in the midst of the worst financial melt down since the Great Depression. In short, people believe in Zion Oil and the financial world has taken notice.

About Zion Oil & Gas, Inc. (ZN):

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.

About NASDAQ OMX:

The NASDAQ OMX Group, Inc. is the world’s largest exchange company. It delivers trading, exchange technology and public company services across six continents, with over 3,900 listed companies. NASDAQ OMX Group offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; NASDAQ OMX Nordic, NASDAQ OMX Baltic, including First North; and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs.

NASDAQ OMX Group technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX Group exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.

Zion Oil Makes NY Times

Market action for Zion Oil & Gas has apparently been hot enough to attract the New York Times  Business Section. Click here to see Friday’s NY Times listing.

Zion Oil Files for New Rights Offering

On Wednesday, July 29, 2009, Zion filed a registration statement with the Securities and Exchange Commission with respect to a proposed Rights Offering to its common stockholders of up to two (2) million shares of common stock. Each whole subscription right will entitle the holder to purchase one share of common stock for $5.00.

Under the proposed rights offering, stockholders have the right to purchase thirteen (13) shares of stock for every one hundred (100) shares of common stock owned on the record date.

Should the rights offering be fully subscribed, the company expects to receive gross proceeds of $10 million, to be used for Zion’s multi-well drilling plan.

Zion CEO Richard Rinberg states: “Although it is not usual to engage in a rights offering immediately following a rights offering, Zion’s Board of Directors have decided to do exactly that.

“In June 2009, we raised gross proceeds of $21 million from a rights offering to common stockholders, but as the rights offering was over-subscribed, we returned approximately $1.1 million in over-subscriptions.

“Due to the very positive reception that our shareholders gave to the completed rights offering and in order to afford an opportunity to shareholders who were not able to exercise subscription rights to the extent that they desired, our Board of Directors decided to commence a new rights offering to our stockholders at the same per share subscription price as the offering completed in June 2009.

“Our drilling program is expensive and we need additional capital in order to fully execute our business plan. So, prior to accessing other sources of capital, we want to give existing shareholders the opportunity to participate in our capital-raising efforts in a manner that allows them to maintain their proportional ownership interest in us.”

If you were among the many hundreds of our stockholders who did not receive as many $5 shares as you subscribed for, this is your ’second chance’ opportunity. This offer is open to everyone who is a stockholder of record on the (as yet undetermined) record date.

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