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Press Releases Zion Oil & Gas Holds Annual Meeting
Press Releases Zion Oil & Gas Holds Annual Meeting | Zion Oil & Gas Holds Annual Meeting |
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Caesarea, Israel – June 30, 2008 – Zion Oil & Gas, Inc. (Amex: ZN) of Dallas, Texas and Caesarea, Israel announced today that, at its Annual Meeting of Shareholders held in Caesarea, Israel on June 23, the shareholders re-elected William H. Avery, Dr. Yehezkel Druckman and Paul Oroian as Class III directors of Zion, to hold office until the 2011 Annual Meeting of Shareholders.
At the meeting, the shareholders also approved the amendment of the Company's Certificate of Incorporation to increase the number of shares of common stock that the Company is authorized to issue from time to time, from 20,000,000 to 30,000,000 and ratified the appointment of KPMG-Somekh Chaikin as the Company's independent registered accounting firm. John Brown, Zion's founder and chairman, opened the meeting and Richard Rinberg, CEO, and Glen Perry, President and COO, presented the Company's progress since the June 2007 annual meeting and the activities planned for the coming year, including plans for the commencement, in September 2008, of the Ma'anit-Rehoboth #2 well on the company's Joseph License and positive developments respecting operations on the company's Asher-Menashe License. A transcript, slides and video from the proceedings at the Annual Meeting will soon be available on the Company's website at www.zionoil.com in the 'Investor Relations' section. Additionally, on June 27, 2008, Zion Oil & Gas, Inc. was chosen to join the Russell Microcap® Index. The Russell Microcap® Index is a value weighted index that measures performance of the microcap segment of the investable U.S. equity market. Zion Oil & Gas, a Delaware corporation, explores for oil and gas in Israel in areas located onshore between Tel-Aviv and Haifa. It currently holds two petroleum exploration licenses, the Joseph and Asher-Menashe Licenses, between Netanya on the south and Haifa on the north covering a total of approximately 162,000 acres. FORWARD LOOKING STATEMENTS: Statements in this press release that are not historical fact, including statements regarding Zion’s geological and economic interpretations and analyses and the possible implications thereof, its 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. 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: Ashley Chatman Zion Oil & Gas, Inc. 6510 Abrams Rd., Suite 300 Dallas, TX 75231 (1) 888-891-9466 (1-888-TX1-ZION) (1) 214-221-4610 Email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it |
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