Drilling plan approved and site preparation to commence. Zion Oil & Gas, Inc. (Nasdaq: ZN) announces formal approval from the Israel Ministry of Energy of its drilling plan for its next well in Israel.
All Lawsuits Against Zion Oil & Gas Have Now Been Dismissed. There is now no litigation pending against Zion Oil. On March 3, 2020, Brantley Starr, United States District Judge for the Northern District of Texas…
March 19, 2020 – Zion Oil & Gas, Inc. (Nasdaq: ZN) announces the Nasdaq Hearing Panel granted the request of Zion Oil & Gas, Inc. for continued listing on The Nasdaq Stock Market LLC.
Zion Oil & Gas, Inc. (Nasdaq: ZN) announces they (i) entered into a Purchase and Sale Agreement on March 12, 2020, for a drilling rig, drill pipe, and related equipment for $5.6 million in cash, and (ii) closed that purchase on March 12, 2020, the same day, by Bill of Sale from the seller to Zion.
“We have signed a letter of intent to purchase a drilling rig for Zion’s ongoing 2020 exploration plans,” Zion’s COO, Robert Dunn said. “This rig will have increased capabilities for onshore drilling in Israel, and we see it as a vital part of our operations going forward.”
Zion is in the initial phases of sourcing a drilling rig for 2020 operations in Israel. More: Derivative Suit Dismissed, Form S-1 Filed and accepted by the SEC, Seismic Processing and Interpretation Continues, and Brad Dacus appointed independent director.