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ZION OIL & GAS NEWSLETTER
Wednesday, July 3, 2013
Dear Shareholder and/or Friend of Zion:
This is an update of noteworthy events that have occurred since our last newsletter. In between updates, you should consult our website, press releases, and our SEC filings to keep up with company developments.
NEW ZION BOARD MEMBERMr. Glen H. Perry has re-joined the Zion Board of Directors, effective July 1, 2013.Glen was a founding member of Zion, serving on the Board of Directors and as President and Chief Operating Officer until 2009. He has been serving as our Israeli Operations Consultant. Mr. Perry resides in Tel Aviv and is a dual US-Israeli citizen.
He has a Master of Science degree in Petroleum Engineering from the University of Texas at Austin. He has over 40 years’ experience in the domestic and international petroleum energy field, specializing in project evaluation and development, as well as senior management of oil and gas exploration and production companies.
Mr. Perry will be filling the vacancy of departing board member, Mr. Julian Taylor. Mr. Taylor was appointed a director in June 2009. We greatly appreciate Julian’s dedicated service on Zion’s board for over four years.
FIELD OPERATIONSOn June 12, 2013, Zion’s Board of Directors, authorized spending up to $1.63 million toward upcoming operations in our Joseph and Asher-Menashe License areas.This dollar figure includes authorization to re-enter our Elijah #3 well to conduct in-well testing operations in hopes of finding commercially productive hydrocarbons.
Zion recently entered into a 2013 Workover Contract with Lapidoth Israel Oil Prospectors to use their rig and crew to conduct our upcoming operations. We plan this field activity for September and October, 2013.
NEW MEGIDDO-JEZREEL LICENSE
Having reviewed our new license application and revised work plan, Israel’s Energy Ministry officially published our proposed license area boundaries (approximately 98,000 acres in Israel’s Megiddo and Jezreel Valley – see purple area in figure below).
The notice states that any other company has until September 3, 2013 to submit a competing application. After that date, there will be a second review and the license award can then be granted.
Zion license areas in Northern Israel.
ANNUAL SHAREHOLDER MEETING OUTCOMEZion held its Annual Shareholder Meeting on Tuesday, June 11, 2013 in Dallas, Texas, with a great turnout of shareholders and supporters.Shareholders voted to elect/retain the following members of our Board of Directors: Robert Render, Justin Furnace, and Gene Scammahorn.
Shareholders also ratified the appointment of Malone Bailey, LLP, as Zion’s independent registered public accounting firm for 2013.
Zion’s Board of Directors at Annual Meeting of Shareholders 2013.
Did you know?
You can invest directly with Zion online and there is no need for a broker.We have a step-by-step online system that will help you enroll and invest with confidence.GO HERE to learn more about investing.
Remember: Our unit offering will continue until August 30, 2013.
We must remember from WHOM freedom and liberty comes… the God of Israel.
“The Spirit of the Lord God is upon Me, Because the Lord has anointed Me To preach good tidings to the poor; He has sent Me to heal the brokenhearted, To proclaim LIBERTY to the captives, And the opening of the prison to those who are bound…” (Isaiah 61:1).
“And I will bless them that bless thee…”Genesis 12:2-3
FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion’s planned operations, the presence or recoverability of hydrocarbons in our license areas, results of additional in-well testing in the Asher-Menashe License area, the likelihood that we will be awarded the application that we filed for the Megiddo-Jezreel area license, the sufficiency of cash reserves, ability to raise additional capital, timing and potential results thereof and plans contingent thereon are forward-looking statements as defined in the “Safe Harbor” provisions 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.