Zion Oil & Gas Operational Update – March 10, 2021
Dear followers and supporters of Zion,
I’d like to take this opportunity to give each of you a quick update on our drilling operation. We are well underway on the second stage of the drilling campaign, heading towards the True Vertical Depth of 2,600m (8,530 ft.).
So far, the drilling is going as anticipated with rates of penetration up 50% from stage 1.
The outlook for the next couple of weeks will see the crew navigate through a known zone of difficulty which will slow down the vertical drilling depths as non-drilling services will be utilized to protect the borehole as well as preventing the loss of fluids in this area.
Once the crew passes this particular zone, the drilling rates will continue to rise as we approach the second casing run and cementing operation around the end of the month.
If you want to invest in Zion's work through our Unit Program, you may still do so or do so again. Just click here.
VP of Operations
You have until Wednesday, March 17 to learn more about Zion's Current $250 Unit Program and participate (or participate again)!
What is the Unit Program?
Each $250 UNIT gives you $250 in Stock and 25 $1 Warrants.
May I get additional Warrants?
Yes. Those who purchase Units and sign up (or are already enrolled) for Automatic Monthly Investments (AMI), will receive 10 additional $1 Warrants.
How long do I have to purchase a Unit?
Wednesday, March 17, 2021.
When can I exercise these Warrants?
From May 16, 2021 to May 16, 2023.
Details of Unit Program:
- Investors may participate starting Monday, February 1, 2021.
- This Unit Program will end on Wednesday, March 17, 2021, and will not be extended.
- The cost of each Unit will be $250.00 for new and existing Direct Stock Purchase Plan investors.
- Each Unit purchase will provide the investor with $250 of ZNOG common stock (at the day’s high-low average) and 25 $1.00 Warrants.
- Warrants are exercisable on the 60th day following the end of Unit Program and remain exercisable for two years (May 16, 2021, to May 16, 2023).
- If investors sign up for Zion’s automatic monthly investments (AMI) in addition to purchasing a Unit during this Unit program, then they will receive 10 $1.00 Warrants. Current subscribers are eligible for these additional warrants if they choose to participate in this unit purchase. (For more details on the automatic monthly investments (AMI), see Zion’s Prospectus.)
- This Unit Program is available through Zion’s website. Investors may go to https://www.zionoil.com/dspp to purchase electronically online or to print and mail their investment.
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 any inquirer the prospectus, if requested by calling toll free 888-891-9466. Direct links to the SEC location, or to the documents in PDF, may be found at www.zionoil.com.