PRESS RELEASE: Zion Oil & Gas Appoints New Board Directors

Zion Oil & Gas Appoints New Board Directors

Dallas, Texas and Caesarea, Israel – April 26, 2017 – Zion Oil & Gas, Inc. (NASDAQ: ZN) today announced the appointment of two new directors to its Board of Directors, effective May 1, 2017.

Dr. Lee R. Russell has been an independent Geoscience Consultant with the Company since August of 2012. He has over 41 years of industry experience in research and exploration positions with Shell Oil Co., Arco, and Sun Oil, as well as in his own exploration pursuits and consultancy. Projects have ranged from domestic exploration in the Gulf of Mexico, Rocky Mountains, and Alaska, to international projects in East and West Africa, North Sea, Norway, Onshore China, New Zealand, Papua New Guinea, and Newfoundland. He is a published author of many scientific articles and served as a Panel Chair and Co-Author of a National Research Council study on “Solid Earth Sciences and Society.” He received his BA in Geology from Ohio Wesleyan University in 1970, and MSc and PhD degrees in Geology and Geophysics from Texas Tech University in 1972 and 1977. He is a member of the American Association of Petroleum Geologists, serving two terms as Associate Editor, and is a Fellow of the Geological Society of America.

Michael B. Croswell Jr., CPA, is currently serving as the Company’s Chief Financial Officer (CFO). He has served as Zion’s Corporate Controller since April 2011. In February 2013, Mr. Croswell was promoted to Vice President of Administration and in August 2016, he was promoted to CFO. Michael is a corporate accounting and management professional with a diverse range of industry experience. He has been a Certified Public Accountant since 1997 and earned his Bachelor of Business Administration degree in accounting from Stephen F. Austin State University in 1994 and earned a Master of Business Administration degree from the University of Dallas in 2013. Victor G. Carrillo, Zion’s CEO, says: “I wholeheartedly welcome Lee and Michael to our Board of Directors and truly believe that they each bring unique experience and leadership qualities that will help to guide our strategic decisions on our Megiddo-Jezreel #1 well and future wells in Israel. I count both Lee and Michael as personal friends, fellow Christian brothers, and men of the utmost moral character and integrity.” Zion Oil & Gas explores for oil and gas onshore in Israel and its operations are focused on the Megiddo-Jezreel License (approximately 99,000 acres) south and west of the Sea of Galilee, where the Company plans to start drilling a deep well soon.