Zion Oil & Gas, Inc. :: Oil in Israel. (888) 891-9466.

Zion Oil Frequently Asked Questions (FAQ) and Public Question Forum

We have prepared this page to allow our supporters and shareholders to ask questions and get thoughtful answers from us. We understand there is a lot of distortion and misinformation about Zion Oil & Gas on the internet. This page will help you get clear answers and get accurate information.

How to use this page:

1. Review the questions and answers below.
2. Ask your question in the comment field if you do not find the answer.
3. We will review your questions and answer as quickly as possible.

Note: We may not post all questions since there are likely to be repetitive questions or questions that we are not legally able to answer in this forum. If you wish to view investment related questions, please click HERE.

> CLICK HERE FOR MOST OFTEN ASKED QUESTIONS AND IMPORTANT QUESTIONS
Zion is dedicated to exploring for oil and gas onshore Israel and is 100% focused on its Megiddo-Jezreel License, a large area south and west of the Sea of Galilee that includes the Jezreel and Megiddo valleys. This license gives Zion the exclusive right to explore in an area of approximately 99,000 acres that appears to possess the key geologic ingredients of an active petroleum system with significant exploration potential. Zion’s latest information on ongoing operations can be found on their website: https://www.zionoil.com/updates

Zion’s common stock trades on the NASDAQ Global Market under the symbol “ZN”.

As we previously disclosed, the Securities and Exchange Commission (“SEC”) first informed Zion of a non-public, fact-finding inquiry by subpoena for production of documents received on June 21, 2018, before which Zion had no formal or informal communication with the SEC regarding this matter.

The SEC has asserted no accusation of wrongdoing nor have they expressed any negative opinion of any person within Zion. Zion continues to fully cooperate with and work with the SEC in the provision of requested information.

Following Zion’s disclosure of the SEC investigation, Zion became aware of a number of law firms who allege they are investigating Zion’s compliance with federal securities laws and are soliciting clients. To our knowledge, three lawsuits have been filed in federal district court. We believe these claims are frivolous and without merit, and we will wage a vigorous defense.
Mr. Carrillo resigned effective September 1, 2018. Here is the resignation letter we filed with the SEC in an 8-K – CLICK HERE.
Zion has been a publicly reporting company since 2007 whose stock has been listed on Nasdaq since 2009, in which time it has filed, as required, audited annual reports on Form 10-K and quarterly reports on Form 10-Q, in compliance with all relevant SEC and Nasdaq rules. We would ask that you refer to those filings to help answer any questions you may have about Zion.
Nasdaq companies whose shares are listed on Global Market and who fail to comply with the required minimum closing bid price of $1 for 30 consecutive trading days will ordinarily receive a so-called deficiency notice. Once such notice is received, the Company will automatically have 180 days in which to regain compliance with the $1 minimum bid price. Compliance is regained by trading at above the $1 minimum bid price for 10 consecutive trading days, subject to Nasdaq requiring a longer trading period if it determines that this is necessary in order to establish long-term compliance with the minimum closing bid price.

Please review posted questions and ask your question in the comment field if it has yet to be answered:

Responses (26)

  1. Ron Meyn
    October 12, 2018 at 8:45 am · Reply

    Will ZN have more frequent updates?

    What is status of lawsuit deadline for plaintiffs ?

    Is last zone done testing ? or will more testing be done to that Zone ?

    • Zion Oil & Gas, Inc.
      October 12, 2018 at 9:14 am · Reply

      All latest updates you will be able to see by clicking HERE.

      All information about the lawsuits will be posted on this forum.

  2. JSheag
    October 11, 2018 at 10:02 am · Reply

    What can you tell us about October 10th reports of independent auditor/accounting firm, description depending on report read, resigning/quitting?

    • Zion Oil & Gas, Inc.
      October 12, 2018 at 9:16 am · Reply

      All filings about the auditors can be found through our 8-K’s.

      This was filed on October 12:

      “On October 11, 2018, the Audit Committee engaged RBSM LLP (“RBSM”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018. The formal engagement with RBSM has been executed.”

  3. tisdal
    October 10, 2018 at 8:11 pm · Reply

    First, thank you for your response to my previous questions. Realize that you are busy so it is appreciated that you take the time to respond.

    Can you explain what just took place with Zion’s independent registered public accounting firm.

    • Zion Oil & Gas, Inc.
      October 12, 2018 at 9:17 am · Reply

      We filed this in an 8-K on October 10:

      “By letter dated (and received) October 3, 2018, Malone Bailey LLP (“Malone”) notified the Audit Committee of the Board of Directors (the “Audit Committee”) of Zion Oil and Gas, Inc. (the “Company”) of its resignation as the Company’s independent registered public accounting firm.

      The previously issued reports of Malone on the Company’s financial statements for the fiscal years ended December 31, 2017 and 2016 contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles, other than an explanatory paragraph relating to the Company’s ability to continue as a going concern.

      During the fiscal years ended December 31, 2017 and 2016, and the subsequent period through October 3, 2018, the date of Malone’s resignation, there were no disagreements with Malone on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Malone, would have caused Malone to make reference to the subject matter of the disagreements in their reports.”

      We filed this in an 8-K on October 12:

      “On October 11, 2018, the Audit Committee engaged RBSM LLP (“RBSM”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018. The formal engagement with RBSM has been executed.”

Leave a reply

Your email address will not be published. Required fields are marked *

Back to Top