Dallas, Texas and Caesarea, Israel – August 26, 2010 – Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that drilling operations have begun on its Ma’anit-Joseph #3 well, in its Joseph License area, onshore Northern Israel. The drilling operations are expected to last approximately six months.
Dallas, Texas and Caesarea, Israel – August 9, 2010: Zion Oil & Gas, Inc. (NASDAQ GM: ZN) reported today its results for the quarter ended June 30, 2010. The company reported a net loss of $23,526,000 or $(1.25) per share for the second quarter of 2010 compared to a net loss of $1,332,000 or $(0.11) per share for the same quarter a year earlier. The increase in net loss is primarily attributable to the impairment charge of $22,022,000 recorded during the second quarter of 2010 in respect of the Ma’anit-Rehoboth #2 well. The company has no revenues as it is still an exploration stage company.
Dallas, Texas and Caesarea, Israel – July 16, 2010: Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that on July 15, 2010 it completed its previously announced rights offering. The preliminary outcome of the rights offering, as of the close of business on July 15, 2010, indicates that subscriptions of approximately 2.3 million shares, for gross proceeds of approximately $11.5 million, will be accepted (including over-subscription). All shareholders that requested over-subscription shares will be awarded their full over-subscription request.
Kent S. Siegel appointed Chief Financial Officer and Marc Singer joins Zion Board
Dallas, Texas and Caesarea, Israel – July 9, 2010 – Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that, effective July 9, 2010, Kent S. Siegel has been appointed as Chief Financial Officer and Senior Vice President. Patti Beals has been appointed Chief Accounting Officer and Ilan Sheena has been appointed Vice President and Managing Director of Zion’s offices in Caesarea, Israel. In addition, Mr. Marc Singer is joining the Zion Board.
Dallas, Texas and Caesarea, Israel – June 23, 2010 – Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that it will sponsor both the “Night to Honor Israel” banquet and the “Ambassadors” reception, during the Summit at the Fifth Annual Washington-Israel Summit of Christians United for Israel (CUFI).
Dallas, Texas and Caesarea, Israel – May 25, 2010 – Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that it recently signed an agreement with Kibbutz Ma’anit, the leaseholder of the land containing Zion’s planned next well, the Ma’anit-Joseph #3 well. Under the terms of the agreement, Kibbutz Ma’anit grants Zion access to Kibbutz land and permission to drill the Ma’anit-Joseph #3 well.
Dallas, Texas and Caesarea, Israel – May 24, 2010 – Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that, on Friday, May 21, 2010, it signed an extension to its drilling contract with Aladdin Middle East Ltd (AME), which was originally executed on September 12, 2008. Under the terms of the extended contract, AME has agreed to serve as the drilling contractor for Zion’s planned next well, the Ma’anit-Joseph #3 well, located in the area covered by Zion’s Joseph License.
Dallas, Texas and Caesarea, Israel – May 18, 2010 – Zion Oil & Gas, Inc. (NASDAQ GM: ZN) reported today that the Israeli Petroleum Commissioner has awarded the company a one-year extension on each of its petroleum exploration licenses, the Joseph License and the Asher-Menashe License.
Dallas, Texas and Caesarea, Israel – May 14, 2010: Zion Oil & Gas, Inc. (NASDAQ GM: ZN) reported today its results for the quarter ended March 31, 2010. The company reported a net loss of $1,360,000 or $(0.07) per share for the first quarter of 2010 compared to a net loss of $916,000 or $(0.08) per share for the same quarter a year earlier. The company has no revenues as it is still an exploration stage company.
Dallas, Texas and Caesarea, Israel – April 19, 2010 – Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that the Company recently signed a Memorandum of Understanding (MoU) with Aladdin Middle East Ltd. (AME).