ZN on the American Exchange.
ZION SUBMITS 'PERMIAN REPORT'
ZION AWARDED JOSEPH EXPLORATION LICENSE
THE JOSEPH PROJECT - UPDATED SUMMARY RELEASED
RADIX INC. RETAINED AS CONSULTING GEOPHYSICISTS
MAJOR SEISMIC ACQUISITION AGREEMENT SIGNED
ASHER-MENASHE EXPLORATION LICENSE HAS BEEN GRANTED
INITIAL PUBLIC OFFERING OF STOCK ENDED SUCCESSFULLY ON MAY 25, 2007
LONG LEAD EQUIPMENT FOR THE PLANNED SECOND WELL (MA'ANIT-REHOBOTH) BEING ORDERED
October 29, 2007 - Zion's geological team recently completed a year-long study of the deep Permian horizons on the company’s Licenses. The resulting 'Permian Report' identified a Permian drilling prospect on the Ma’anit structure on Zion's Joseph License and noted and analyzed the striking similarity between the late Permian/Arqov formation in Israel, into which Zion plans to drill the planned Ma'anit-Rehoboth #2 well, and the late Permian Khuff formation in the Persian Gulf region.
October 15, 2007 - Zion has been awarded Petroleum Exploration License No. 339 - the Joseph License; this covers 83,000 acres on the Israeli coastal plain between Netanya and Caesarea, and is immediately south of Zion's 79,000 Asher Menashe License. Together, the two licenses cover approximately 162,000 acres.
October 8, 2007 - Today, Zion released a summary of the current status of its oil and gas exploration related activities in Israel. The summary presents developments that have transpired during the past several months. The Company intends to update the summary from time to time to reflect new developments as they occur.
September 20, 2007 - Ernest R. Ayers, President and CEO of Radix Inc., Ft. Davis, Texas, has been engaged as Zion's consulting geophysicist for the design and field supervision of its upcoming geophysical survey to be conducted in its Asher-Menashe License area between Caesarea and Haifa, Israel. Radix Inc. specializes in seismic processing, field acquisition design and implementation. It has earned a reputation in creating solutions utilizing continuous velocity analysis methods and has software capabilities that include unique lithological tools. Mr. Ayers has 34 years experience as a processing and consulting geophysicist.
September 17, 2007 - Today, Zion signed an agreement with the Geophysical Institute of Israel to conduct one of the largest and most comprehensive geophysical surveys on-shore in Israel of the past two decades. The survey, including seismics, gravimetrics and magnetics, is to be conducted in Zion’s Asher-Menashe License area.
The purpose of the designed 60 kilometer survey is to acquire new geological and geophysical data to assist Zion in selecting the optimal drilling site for a test well on its Ramot Menashe (Menashe Heights) prospect and to upgrade the company’s Nahal Me’arot lead (nearby the Asher-Atlit No. 1 well) into a drillable prospect. The estimated cost of the survey, including processing and interpretation, if completed to its full 60 kilometer designed length, is approximately $650,000.
June 19, 2007 - The Annual Meeting of Stockholders was held on June 19, 2007 in Dallas.
June 10, 2007 - Today, the Israeli Petroleum Commissioner issued to Zion Oil & Gas, Inc. Petroleum Exploration License No. 334/”Asher-Menashe”. The Asher-Menashe License covers an area of 319,000 dunam (approximately 78,800 acres) north of the company’s 397,000 dunam (approximately 98,100 acre) Ma’anit-Joseph License. The Asher-Menashe License is located on the Israeli coastal plain and on the Mt. Carmel range between Caesarea in the south and Haifa in the north. The License has a three-year primary term, commencing June 10, 2007 through June 9, 2010, and may be extended for additional periods up to a maximum of seven years as provided by the Israeli Petroleum Law.
Under the terms of the Asher-Menashe License, Zion must acquire 20 kilometers of new seismic data in the license area by January 1, 2008 and commence a well to a depth of approximately 4,000 meters by July 1, 2009. Additional terms of the License require the company to prepare and submit during the license’s primary term, various geological, geophysical and geochemical maps and analyses. The dates by which the seismic data must be acquired and the well commenced may be extended by the Petroleum Commissioner giving consideration to the circumstances.
May 25, 2007 - Zion IPO ends with a final total raise of $12,644,345. Zion issued a total of 1,806,335 shares at $7 per share.
Zion rings the bell to open the first trading of 2007 on the American Stock Exchange
January 3, 2007. Zion began trading on the American Stock Exchange under the symbol ZN. Click here for a link to a video of the bell ringing ceremony on the AMEX website.
About Zion Oil
Zion Oil & Gas is a U.S.-based corporation formed under Delaware law, exploring for oil and gas in Israel on licensed and permitted areas located onshore between Tel Aviv and Haifa. Zion was founded by John Brown in April 2000 after 15 years of dedication to the vision of finding oil and gas in Israel -- his goal to assist Israel in restoring the Land of Israel and making the People of Israel politically and economically independent. "And I will plant them upon their land, and they shall no more be pulled up out of their land, ...." (Amos 9:15)
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