Zion is Moving Forward With Operational Plan in Israel

Dear Zion Supporters and Shareholders,


First and foremost, we want to take this opportunity to wish all of our shareholders a blessed New Year.  We hope that each of you had time for rest and reflection with family and loved ones during the holiday season.  We also want to take a moment and sincerely thank each of you for your continued and overwhelming faith and support.

We also want you to know that we are moving forward with the operational plan we outlined in our November 29, 2018, press release.


As we previously announced, Zion received a multi-year license extension through December 2, 2019. We made our annual license fee payment on December 31, 2018, which confirms our commitment to further exploration in the license area.

Valley of the Springs in Zion’s 99,000-acre Megiddo-Jezreel license in Israel


We have commenced preliminary scouting and survey design to help identify the geologic boundaries of the proposed 3D seismic survey. Additionally, we held initial meetings with potential vendors to aid in the 3D seismic planning and acquisition process.

Once the survey design and surface layout are completed, we intend to acquire the necessary government permits and negotiate potential surface damages to crops, irrigation piping, and other surface features.

We believe it will be necessary to import seismic source equipment and autonomous wireless geophones (to record the signal) to acquire the 3D data. Once data acquisition is completed, interpretation is the final step and will involve integration with, and modification of, previous work by our technical staff.



We recognize the financial and time commitment that Zion’s shareholders have made in their support. Our ability to adequately undertake all of these activities is subject to our raising the needed capital from our continuing offerings, of which no assurance can be provided.

In our November 29, 2018 update, we noted many questions we believe need to be further explored after the drilling and testing of the Megiddo Jezreel #1 well. This 3D seismic survey will aid in answering those questions.

While there is no guarantee that these exploration efforts will lead to commercial success, we take our responsibility to our shareholders and supporters seriously and will continue to update you on the progress made.



Dustin Guinn
Executive Vice Chairman, CEO, and COO
Zion Oil & Gas, Inc.

“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.”
Deuteronomy 31:8
“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.”
Isaiah 12:5-6
“If you come with us, we will share with you whatever good things the LORD gives us.”
Numbers 10:32

Zion Oil & Gas, Inc. has filed a registration statement (including a prospectus) with the SEC for the unit program under the DSPP to which this communication relates. The prospectus in that registration statement and other documents the issuer has filed with the SEC may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company will arrange to send you the prospectus, if you request it by calling toll free 888-891-9466. Direct links to the SEC location, or to the documents in PDF, may be found on the home page of Zion Oil & Gas. Inc., at www.zionoil.com.
FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion’s planned operations, anticipated attributes of geological strata that may be drilled or tested in the future, our ability to import into Israel or otherwise obtain the necessary 3-D imaging and related equipment and appropriate staff at commercially reasonable rates, our success in obtaining the necessary licenses and permits needed to undertake the seismic shoot, the timing of the 3-D seismic survey and the interpretation of the results, our ability to successfully raise the funds needed to undertake these exploration efforts, operational risks in ongoing exploration efforts, 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.