Press Release: December 3, 2020 – Zion Oil & Gas Receives New Oil and Gas Exploration License Agreement from Israel
Zion Oil & Gas Receives New Oil and Gas Exploration License Agreement from Israel
Zion drilling crew works to finish rig assembly at drill site for inspections.
DALLAS, Texas, and CAESAREA, Israel, December 3, 2020
Zion Oil & Gas, Inc. (OTCQX: ZNOG) announces a new license agreement – “New Megiddo 428” – granted over the previous Megiddo-Jezreel license area in northern Israel.
“We are thankful for Israel’s unwavering support during these unprecedented times,” stated Zion Oil & Gas CEO, Robert Dunn. “Receiving a new license will allow Zion’s operations to continue drilling into 2021.”
NEW LICENSE AGREEMENT – “NEW MEGGIDO 428”
As of December 3, 2020, Israel’s Petroleum Commissioner granted Zion Oil & Gas a new license agreement from the State of Israel over the previous 99,000-acre license area.
The term of the new license agreement has been granted for six months.
Similar to previous Zion license agreements Israel’s Petroleum Commissioner has the authority to grant the New Megiddo 428 license.
The New Megiddo 428 license may be extended for an additional six months for a total license period of twelve months.
“Operationally, everything is coming together as planned,” Zion’s VP of Operations, Monty Kness, expressed. “The crew morale is high and we’re all looking forward to spudding soon.”
All necessary drilling equipment and supplies have either arrived at the rig site or are in port going through final clearance procedures.
The drilling crew is working diligently to assemble the rig in time for Israeli governmental inspections which are scheduled for next week.
Zion Oil & Gas, a public company, traded on OTCQX Best Market, explores for oil and gas onshore in Israel on their 99,000-acre Megiddo-Jezreel license area.
“The Lord Himself goes before you and will be with you; He will never leave you nor forsake you. Do not be afraid; do not be discouraged.”
“Sing to the Lord, for he has done glorious things; let this be known to all the world. Shout aloud and sing for joy, people of Zion, for great is the Holy One of Israel among you.”