Zion Oil & Gas, Inc. (NASDAQ:ZN) Files An 8-K Other Events

Zion Oil & Gas, Inc. (NASDAQ:ZN) Files An 8-K Other Events

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Item8.01 Other Events.

On November 29, 2016, the Company received notification from the
State of Israels Petroleum Commissioner officially approving the
drilling date extension for Zion Oil Gas, Inc. (the Company). The
Company submitted an Application for Extension of Drilling
Date for the Megiddo-Jezreel License No. 401
(the License)
on November 7, 2016. The Companys License has been extended to
December 2, 2017, and the obligation to spud the Megiddo-Jezreel
#1 well (MJ#1) has been extended to June 30, 2017. In addition,
the Final Report outlining the results of the MJ#1 and future
Work Plan has been extended to November 1, 2017, and to December
1, 2017, respectively.

Previously, the Company submitted to the Petroleum Commissioner a
fully executed drilling contract with S.A. Daflog, S.R.L. for
DAFORAs F-400 drilling rig currently located in Israel and a
detailed Drilling Engineering Plan. The Company has awarded the
drill site construction contract to Y. Bazelet Aggregatim LTD and
will begin site construction in December.

About Zion Oil & Gas, Inc. (NASDAQ:ZN)

Zion Oil & Gas, Inc. is an oil and gas exploration company. The Company holds a petroleum exploration license onshore Israel, the Megiddo-Jezreel License (MJL), comprising approximately 99,000 acres. The MJL is onshore, south and west of the Sea of Galilee. The Company has drilled approximately four exploratory wells. The Company has not generated any revenues.

Zion Oil & Gas, Inc. (NASDAQ:ZN) Recent Trading Information

Zion Oil & Gas, Inc. (NASDAQ:ZN) closed its last trading session up +0.09 at 1.40 with 98,448 shares trading hands.

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