DALLAS and CAESAREA, Israel, Jan.
30, 2017 /PRNewswire/ -- Zion's (Nasdaq: ZN) vision is to
help ensure Israel's political and
economic independence by finding and producing oil or natural gas
onshore in Israel. "Our excitement
continues to build regarding our upcoming deep (~15,000 foot)
well! We are currently completing construction of our drill
site in northeast Israel and will
be moving the rig to the site in a few weeks in anticipation of
spudding the well this spring," said Victor
G. Carrillo, Zion's CEO.
Buoying our optimism further is an independent study by the
international consulting company Beicip-Franlab, as recently
reported by Israel's Energy
Ministry, finding that up to 6.6 billion barrels of oil
remain to be found in the offshore portion of Israel's Levant Basin. Zion's license lies
in the onshore portion of the Levant Basin.
Zion launched a simplified new stock unit option program which
helped the company fund the site construction and move toward
drilling operations. Dustin Guinn,
Zion's President and COO, stated, "This effort has been successful
with those wanting to invest and the response to this investment
opportunity has been very well received. As a result of the
response, we have decided to extend the Unit Offering to be sure
and include all those who want to take advantage of this
opportunity. It is important to note that this will be a
one-time only extension as noted in Zion's recent 8K
filing."
Effective today, Zion will extend the purchase deadline 60 days
to March 31, 2017, for those wanting
to participate in this limited opportunity. All other aspects will
remain the same: $10 per Unit will
purchase 7 shares of stock and 7 warrants. The warrants will be
exercisable for $1 for one share of
stock for three years from May 1,
2017 to May 1, 2020. Zion
provides an easy step-by-step online process for investors to
purchase these units without any brokerage fees. Full information
on this program can be obtained from Zion Oil & Gas at
zionoil.com.
The Company's Megiddo-Jezreel License grants Zion Oil & Gas
the exclusive right to explore in an area of approximately 99,000
acres that appears to possess the key geologic ingredients of an
active petroleum system with significant exploration potential.
Contact Info:
Zion Oil & Gas, Inc. (Nasdaq: ZN)
12655 North Central Expressway, Suite 1000
Dallas, TX 75243
Andrew Summey
Telephone: 888-891-9466
Email: andrew.summey@zionoil.com
www.zionoil.com
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SOURCE Zion Oil & Gas