The Great Treasure Hunt

Would you like to know?

* Where the greatest treasure in the world is buried?

* Why Russia will attack Israel?

* The secret behind the battle of Armageddon?

This is Special 25th Anniversary Edition of Jim Spillman’s The Great Treasure   Hunt, the book that started the search for oil in Israel based on God’s promise to the Children of Israel in the Bible.
Completely redesigned and digitally reformatted, this special edition printing contains the all of the text and maps from Jim Spillman’s original The Great Treasure Hunt.

Jim Spillman, author, Greek scholar, historian, evangelist, and Christian educator was widely known for his charismatic ministry and personality. As an evangelist and author Jim used his unique mix of spiritual and educational depth with humor to reach people where they were.  Audiences around the world were captivated by the power of God demonstrated in his life and brought to Christ for salvation, baptism, healing, and other mighty works of renewal.
Jim left this earth for his eternal home in late 2002. His work, however, continues to touch people’s lives through books, and recorded material that remain as fresh and relevant today as when they were first produced.

The Great Treasure Hunt by: Jim Spillman,

$9.95 (plus shipping)

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“Breaking The Treasure Code” Tells the Story of Israel’s Oil Discovery

Breaking the Treasure Code: The Hunt For Israel’s Oil tells the story of the prophecy leading to Israel’s oil discovery and its fulfillment today. In light recent exploration and of Israel’s breaking news of a massive natural gas discovery off the coast of Haifa, this book and its implications are more relevant today than ever.

Joel Rosenberg, author of Epicenter says, “Israel? Proven Reserves? Billions? When I read those words, the hair on the back of my neck stood ss.comup … Little did I know.”

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Jack Kinsella of The Omega Letter says, “Breaking the Treasure Code is both fascinating and relevant.”

If you haven’t read this important book yet, get it, read it, and watch Bible prophecy unfold into one of the greatest news stories of this century! Buy Breaking the Treasure Code: The Hunt for Israel’s Oil now for 20% off the bookstore price ($14.95 $11.96 + $5.00 shipping) by clicking the ‘Add to Cart’ button below, or order by phone toll free (888) 543-8028. (P.S. Don’t forget to order and extra copy to share with your pastor, a relative or friend.)

Zion Oil Update February 12, 2010

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Zion Oil & Gas Newsletter February 12, 2010 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 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. ……………………………………………………… 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 We are now in the process of getting ready to re-enter this well to conduct production testing on several geologic intervals. As noted previously, the Ma’anit-Rehoboth #2 well was drilled to a depth of 17,913 feet (5,460 meters) and had been temporarily suspended since December 2009. During a routine workover operation, prior to the well’s suspension, a small quantity of oil was recovered from the well, giving physical evidence to support our geologist’s contention that the well penetrated hydrocarbon bearing intervals. The decision to mobilize the drilling rig from the Elijah #3 well to the Ma’anit-Rehoboth #2 well is a major undertaking, as we need to prepare the Ma’anit site and relocate many tons of equipment by a distance of approximately 25 kilometers. The project to move the rig requires approximately two weeks before the rig mast is erected again and well operations may begin anew. We have finalized our testing procedures for the Ma’anit-Rehoboth #2 well and are now ordering the required equipment and services so that work may begin when the rig becomes operational.  In the meantime, we continue to observe evidence of reservoir pressure and the presence of potential hydrocarbons at the surface and are anxiously awaiting the rig’s arrival at the Ma’anit-Rehoboth #2 well site, later this month. 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. The Annual Meeting Of Shareholders We will be sending out formal notices later in the year, but you may be interested to note in your diary that Zion’s Annual Meeting of Shareholders is scheduled to take place, in Israel, on Monday, June 14, 2010. This may be an opportunity for you to visit Israel, attend Zion’s Annual Meeting and enjoy a trip to the Holy Land. “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 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Zion Oil Update February 5, 2010

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Zion Oil & Gas Newsletter February 5, 2010 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Dear Shareholder and/or Friend of Zion… On Monday, February 1st, I was extremely happy to welcome to Zion, Mr. William (Bill) Ottaviani, Zion’s newly appointed President and Chief Operating Officer. 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. As I noted in the press release: “Bill Ottaviani joins Zion with a proven industry track record and will greatly strengthen our managerial and operational competence. Bill is a first class oil and gas professional who has the experience, the ability and the specific skill-set to provide Zion with fundamental operational and technical direction, help us to implement our multi-well strategy and achieve success with our operations.” The past week has been eventful, as you can read below. The path of true love and drilling oil and gas wells is seldom smooth it seems. On Wednesday, there was good news for Israel, as a new natural gas discovery was announced, off the coast of Israel, in the ‘Mira’ and ‘Sarah’ prospects. The two finds of ‘up to 6 trillion cubic feet (TCF)’ of natural gas may be worth as much as $6 billion, using current market evaluations. One headline noted: ‘Israel has significant offshore gas potential’. Zion’s job is to show the onshore potential by having an oil and gas discovery onshore… and as soon as possible… In the latter part of the week, we were happy to greet the management team from Aladdin Middle East Ltd (AME), who visited Israel from Ankara, Turkey, so that we could hold discussions regarding Zion’s future drilling plans. Our meetings were both enjoyable and productive. Here is this week’s operations update. Drilling Operations at the Elijah #3 Well In last week’s update, I noted that we had drilled the Elijah #3 to a depth of approximately 10,938 feet (3,334 meters) and that the drill string was stuck within the Asher Volcanics section of the hole and that we were working through the problem and were ‘cautiously optimistic’ about resuming drilling soon. After achieving initial success in retrieving a significant portion of the stuck pipe, progress slowed to the point where we felt it best to pause and reassess how best to address the challenge of recovering the pipe and resume drilling through the Asher Volcanics to our target depth.  To that end, we felt it prudent to temporarily suspend drilling activity at the Elijah #3 well, while we consider the various options in front of us. These options include, in part, a resumption of fishing operations using a modified recovery system or sidetracking the stuck pipe by directionally drilling a new bore hole adjacent to the current hole (taking advantage, of course, of the three kilometers already drilled). Each option under consideration requires time to procure the necessary equipment and services to execute the new operation (since much of what is needed is unavailable here in Israel). Rather than putting everything in “standby” mode for several weeks while waiting to resume work on the Elijah #3 well, we decided to move the rig and its ancillary equipment to the Ma’anit-Rehoboth #2 well, in order to begin production testing operations as soon as possible (see summary below). We have every expectation to resume activity on the Elijah #3 well in the not-too-distant future. Based on our current geologic assessment, we remain excited about the hydrocarbon potential in this region and look forward to ‘making hole’ once again at this location. However, the fact that the Elijah #3 well sits on a volcanic section does complicate our decision making process. The Ma’anit-Rehoboth #2 Well 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. In last week’s report I noted the chemical composition of the oil indicated that it was not, as we expected, from the Triassic geological period, but from the Cretaceous geological period and similar in nature to that recovered by others in the Dead Sea area.  While the full implication of this assessment is still uncertain, the good news is that Israel has a very large extent of late Cretaceous source rock suggesting a possible correlation to the potential quantities of oil that may lie underneath Israel’s continental shelf. Since we completed drilling the well, we have observed evidence of reservoir pressure and the presence of potential hydrocarbons at the surface.  Now we are positioning ourselves to see what evidence lies within the rocks themselves. As noted in the Elijah #3 summary above, we are in the process of mobilizing the drilling rig from that well to the Ma’anit-Rehoboth #2 well.  While we are not planning to do any further drilling at this time at the Ma’anit-Rehoboth #2 well, the added horsepower that this rig provides gives us greater operational flexibility to perform certain completions/testing work that may not be possible with other, smaller workover rigs. Our geologists have identified several potential hydrocarbon-bearing intervals from the diagnostic data acquired when this well was drilled.  We are currently fine-tuning our plans for production testing these intervals and, subject to equipment availability, should begin well operations in approximately two weeks time. Ironically, the temporary suspension of operations at the Elijah #3 well allows us to start the testing procedures at the Ma’anit-Rehoboth #2 well much sooner than our previously anticipated schedule. So while we temporarily step back from one well to reconfigure our next steps, we quickly ramp-up activity at another, as we continue on our unwavering quest for the ‘treasure hidden deep beneath the Promised Land’. The Issachar-Zebulun Permit Area This past week, Zion and the Geophysical Institute of Israel (GII) signed an Agreement for GII, on behalf of Zion, to acquire approximately 30 kilometers of field seismic, in Zion’s Issachar-Zebulun Permit area. The field work is scheduled to begin in mid-April 2010 and last until mid-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 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Zion Oil Update Jan 29, 2010

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Zion Oil & Gas Newsletter
January 29, 2010
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Dear Shareholder and/or Friend of Zion…

On Sunday, January 24, 2010, the Jerusalem Post ran an article on William “Tex” Moncrief, a Texas billionaire wildcatter. In particular, one quote from “Tex” Moncrief caught my eye:

“Sometimes, when you don’t find what you’re looking for, you have to just keep on going.”

No argument from me, as that’s just what Zion Oil & Gas is about. However, I do believe that we are now beginning to find what we are looking for.

The past week has been eventful, both for the rig crew and support staff at the rig site and the administrative staff at Zion’s offices.

As you can read below, we have almost concluded (successfully, we hope and believe) the fishing operation at the Elijah #3 site, seen more crude oil at the Ma’anit-Rehoboth #2 well site, agreed to terms for the field seismic acquisition on the Issachar-Zebulun Permit area and planned for the future by filing ’shelf offering’ documentation with the SEC. Please read on for more details and explanation.

………………………………………………………

Here is this week’s operations update.

Drilling Operations at the Elijah #3 Well

The Elijah #3 site
In last week’s update, I noted that we had drilled the Elijah #3 to a depth of approximately 10,938 feet (3,334 meters) and that the drill string was stuck within the Asher Volcanics section of the hole.

I also explained that, in order to free the pipe, we had implemented a fishing procedure with specially constructed tools suited to our specific requirements.

Last week, we had initial success with a ‘back off’ operation (unscrewing the stuck pipe with a ’string shot’ – an explosive cord) and then, this past week, we ran ‘wash pipe’ (large diameter pipe) in order to ‘wash over’ the remaining fish in the hole.

At the current rate of penetration through the Asher Volcanics, we expect that, very early next week, we will be able to access the fish and begin its retrieval from the hole, so we are now ‘cautiously optimistic’ that, next week, we will be able to resume drilling towards our target depths.

I am reminded of a phrase that I heard many years ago: “Success is defined by how high you bounce, when you hit the bottom.”

Our drill pipe became stuck near the bottom of the well, but we are working through the problem and expect to resume drilling… hopefully to the success that we believe will come… in G-d’s good time. (Ecclesiastes 3:1)

The Ma’anit-Rehoboth #2 Well

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

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

As you can see in the photograph above, Dr. Eli Tennenbaum met with our senior geologists and delivered the preliminary analysis of the samples recovered at the Ma’anit-Rehoboth #2 well. The samples were confirmed to be crude oil.

The chemical composition of the oil indicated that it was not, as we expected, oil from the Triassic geological period, but from the Cretaceous geological period and similar in nature to that recovered by others in the Dead Sea area.

Our geologists are now working on their analysis of the possible alternatives for the migration of the Cretaceous oil from Cretaceous source rocks into Triassic reservoir rocks.

The good news is that Israel has a very large extent of late Cretaceous source rock, so this is positive for the potential quantities of oil that may be hidden underneath Israel’s continental shelf.

The current working hypothesis of our geologists is that the oil matured offshore Israel and migrated both horizontally and vertically to structurally higher but older Triassic rock, onshore Israel.  As both oil and gas are lighter than water, they always migrate vertically, but in our license area, the oil seems to have also migrated horizontally.

As I mentioned last week, since we completed drilling the well, we periodically open a surface valve to release pressure that builds up in the well. This past week one of our staff opened a surface valve and (again) found that there was crude oil and possible condensate.

To repeat, we are unsure as to whether we have made a discovery of any hydrocarbon reservoir or, if such a reservoir exists, whether it would be commercially viable, but this well does give us constant cause for optimism.

The Issachar-Zebulun Permit Area

Left to Right: Dr. Eliezer Kashai (Zion’s Vice President – Israeli Exploration), Stephen Pierce (Zion’s Exploration Manager), Dr. Uri Frieslander (GII), Gerald Brounstein (Zion’s outside counsel)
On Sunday, January 24, 2010, we held a meeting with Dr. Uri Frieslander of the Geophysical Institute of Israel (GII), in order to agree the remaining details regarding our planned field seismic acquisition of approximately 30 kilometers of field seismic, in the Issachar-Zebulun Permit area.

Due to GII’s schedule, the field work is now scheduled to begin in mid-April 2010 and last until mid-May 2010.

We have agreed the contract details and I have signed the contract. I am now waiting for GII’s authorized signatory to sign on GII’s behalf. I have been told by GII that he will sign the contract on Sunday, January 31, 2010.

Below this update you can read the press release that we issued on Thursday, January 28, 2010, just after we filed a registration statement for a ’shelf offering’, with the U.S. Securities and Exchange Commission (SEC). This is part of our forward-looking ’strategic planning’.

After being declared effective by the SEC, the shelf registration statement will allow Zion, should it be needed (and subject, of course, to market conditions then prevailing) to sell its securities to a maximum of $50 million in gross proceeds. Details as to any such sales, if they occur, would be included in reports subsequently filed with the SEC.

The good news is that, once the registration statement is declared effective, Zion will have tremendous flexibility. So, until we have a firm need, we don’t have to define either the stock price or the quantity of stock being offered.

To quote from the press release:

“Zion Oil does not currently have any commitments or specific plans to sell securities.”

“Zion intends to use the net proceeds from any sale of securities under the shelf registration statement for Zion’s multi-well drilling plan, including costs associated with drilling operations, drilling equipment, completion operations, production equipment, seismic acquisition or general corporate purposes.”

We continue to attract attention in interest in our work. On January 24th, GLOBES (Israel’s premier business daily) ran a large (and positive, I believe) article on Zion Oil & Gas, Inc.

I can tell you that I am really looking forward to next week, as I believe that we will see the fruition of the last few weeks’ work and the end to the frustration of the stuck pipe in the Elijah #3 well. Such is life.

“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.

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 Michael Williams at Zion Oil & Gas, Inc., 6510 Abrams Rd., Suite 300, Dallas, TX 75231; telephone 1-214-221-4610; email: dallas@zionoil.com
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
PRESS RELEASE – JANUARY 28, 2010

ZION OIL FILES SHELF REGISTRATION STATEMENT
Dallas, Texas and Caesarea, Israel – January 28, 2010 – Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that it has filed a Form S-3 shelf registration statement with the Securities and Exchange Commission (SEC). When declared effective by the SEC, Zion will have the option to offer and sell, from time to time in one or more offerings, up to $50 million of common stock, debt securities, warrants to purchase any of these securities, or any combination of such securities. The securities may be offered in one or more offerings, and at prices subject to prevailing market conditions to be set forth in a supplemental prospectus filing with the SEC at the time of such offering, should such an offering occur. Zion Oil does not currently have any commitments or specific plans to sell securities.

Zion intends to use the net proceeds from any sale of securities under the shelf registration statement for Zion’s multi-well drilling plan, including costs associated with drilling operations, drilling equipment, completion operations, production equipment, seismic acquisition or general corporate purposes.

A registration statement relating to these securities has been filed with the SEC, 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. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Any offer of these securities will be made solely by means of the prospectus included in the registration statement and any prospectus supplement that may be issued with respect to such offering.

A copy of the final prospectus and prospectus supplement relating to any offering under the registration statement will be filed with the SEC and may be obtained, when available, by contacting Zion Oil & Gas, Inc., Attn: Investor Relations, 6510 Abrams Road, Suite 300, Dallas, Texas 75231, telephone number 214-221-4610.

About Zion Oil & Gas, Inc.

Zion Oil & Gas, a Delaware corporation, explores for oil and gas in Israel in areas located onshore 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.

Zion’s common stock trades on the NASDAQ Global Market exchange under the symbol “ZN” and Zion’s warrants trade under the symbol “ZNWAW”.

FORWARD LOOKING STATEMENTS: Statements in this press release that are not historical fact, including statements regarding Zion’s operations and planned operations are forward-looking statements as defined in the “Safe Harbor” provision 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, including, without limitation, the ability to cause the shelf registration statement declared effective by the SEC. 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:
Brittany Russell
Zion Oil & Gas, Inc.
6510 Abrams Rd., Suite 300
Dallas, TX 75231
(1) 214-221-4610
Email: brittany@zionoil.com

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

Zion Licenses Fit Israeli Gas Infrastructure

Yesterday a friend reminded me of Israel’s gas pipeline infrastructure. That’s important now that Israel has discovered natural gas. There must be some infrastructure in place to get gas from the well site to where it will be used for energy (mostly power plants).
The Tamar #1 discovery (5 trillion cubic feet) is 80 kilometers off the coast of Haifa. That means in order to bring that gas to market, a pipeline will have to be built from the offshore rig to Haifa and then to the existing Israeli pipeline infrastructure. Noble Energy, primary partner in the Tamar discovery estimates it will be three years before gas from the discovery actually reaches the market. Others in the industry estimate longer.

But then a light went on in my head. I remembered seeing a map of Zion Oil’s license areas and Israel’s existing and planned natural gas pipelines. Here’s the map:

Israel’s existing natural gas pipeline runs north just off the Mediterranean coast. The reason for its current location is to supply fuel for power plants along the coast. Construction is underway for a trunk line to the Hagit and Alon Tavor power plants inland. Another trunk line is planned for this year, running from the coast to the area of Zion’s Ma’anit #l well site. Remember, Zion’s immanent Ma’anit Rehoboth #2 well will use the same wellbore as the Ma’anit #1 – it’s in the same location. Should Zion find gas instead of oil or gas and oil in the Ma’anit #2 well, they would have a built in pipeline infrastructure. In the event of a discovery, they could be supplying natural gas to Israel before the offshore discovery comes on line!

I asked a friend and very high placed source of mine from Israel today about the pipeline. He confirmed what I just laid out and went a step further. There’s a manufacturing plant a few hundred yards from the Ma’anit Rehoboth well site. This plant currently uses diesel fuel to fire its boilers. It has requested to be first in line to buy any gas produced at the Ma’anit Rehoboth site. So there you have it! The greatest natural gas discovery in Israel’s history and Zion, God willing, may beat them to the market. But remember this is all just speculation. Zion has to find the gas first. And, of course, they could find oil – which is what we’ve been looking for all along.

“A Biblical Treasure Hunt” by Philip Mandelker

“A Biblical Treasure Hunt” by Philip Mandelker

PDF (695 KB)

“Biblical Study of Jacob’s Blessing” by Dr. Roger Luther

“Biblical Study of Jacob’s Blessing” by Dr. Roger Luther

PDF (212 KB)

Breaking the Treasure Code: The Hunt for Israel’s Oil

“Moses wandered the Middle East for forty years and settled in the only place with no oil.” Israel’s inside joke may have had its last laugh. According to several Bible scholars and some prominent oil experts, Israel is sitting on a mother-lode of petroleum.

Far more remarkable, the Bible actually foretells of a vast oil reserve, to be discovered in Israel in the “Last Days.” Today science confirms faith, as oil geologists verify ancient prophecy: Israel will “suck of the abundance of the seas and of treasures hid in the sand.”

Breaking the Treasure Code assembles the puzzle pieces of scripture and Israel’s ancient tribal boundaries to reveal a treasure map pinpointing the location of a vast oil reserve, buried deep beneath the Promised Land and key to Israel’s economic and political survival in the coming days.

If you want to understand Israel’s role in future world events, Breaking the Treasure Code is a must read.

Reviews:

“Israel? Proven reserves? Billions? When I read those words, the hair on the back of my neck stood up … By the time I sat down to write Jihad, I had decided to add a fictional oil strike – discovered by a fictional American investment company working with a fictional Israeli company … Little did I know.”

Joel Rosenberg, Author of The Last Jihad series and Epicenter

*****

“If you read one book on Israel in prophecy this year, pick this one.”

Joseph Farah, World Net Daily

*****

“’Breaking the Treasure Code’ is both fascinating and relevant …”

Jack Kinsella, The Omega Letter

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“A substantial oil discovery in Israel would profoundly affect her future and surely send shock waves throughout the region.”

U.S. Rep. Bob Inglis

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“… based on Biblical truth and is grounded in scientific and geological studies and a book for today.

Pastor Donald V. Glazier, Cedar Rapids, Iowa

*****

“If you have the slightest interest in 21st century Biblical Prophecy, Israel, and oil, this compelling Biblical based book is for you!”

Dr. Roger Luther, Southeastern Baptist Theological Seminary (retired)