ZION to switch to NASDAQ STOCK EXCHANGE on SEPT 2, 2009
Dallas, Texas and Caesarea, Israel – August 17, 2009: Zion Oil & Gas, Inc. (NYSE Amex: ZN) announced today that its board of directors has approved the decision to switch the listing of its common stock and common stock purchase warrants from the NYSE Amex to the NASDAQ Global Market (NGM). The Company also announced that it has received approval from NASDAQ to list its common stock and warrants on the NASDAQ Global Market.
It is anticipated that Zion’s securities will commence trading on NASDAQ on September 2, 2009. Zion’s common stock will continue to trade under the symbol ‘ZN’ and Zion’s warrants will trade under the symbol ‘ZNWAW’. Zion’s management is scheduled to participate in the opening bell ringing ceremony on that date.
The Company believes that listing the Company’s common stock and warrants on the NASDAQ Global Market will provide the Company with opportunities to increase investor and analyst attention and provide the Company’s investors with a better environment for trading shares of the Company.
Zion’s Chief Executive Officer, Richard Rinberg, said today, “This decision was reached after careful consideration, as we have been pleased with the assistance given to us by both the NYSE Amex staff and our specialist. However, we believe that the NASDAQ’s electronic multiple market maker structure will provide our company with enhanced exposure and liquidity and a more effective cost structure. At the same time, investors will gain added visibility, the lowest cost per trade and the fastest execution possible by the most current trading technology.”
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, its systems trade more shares per day that any other U.S. market. NASDAQ is home to companies that are leaders across all areas of business. For more information about NASDAQ, visit their website at www.nasdaq.com
Zion’s common stock currently trades on the NYSE Amex under the symbol ‘ZN’ and Zion’s warrants trade under the symbol ‘ZN.WS’.
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.
Zion’s homepage may be found at: www.zionoil.com
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