Current Report Filing (8-k)
February 13 2018 - 01:03PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
Form 8-K
CURRENT REPORT
Pursuant to Section
13 or 15(d) of
The Securities
Exchange Act of 1934
February 13, 2018
Date of Report
(Date of earliest event reported)
Zion Oil & Gas,
Inc.
(Exact name of
registrant as specified in its charter)
Delaware
(State or other
jurisdiction of incorporation)
001-33228
(Commission
File Number)
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20-0065053
(IRS
Employer Identification No.)
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12655 North Central
Expressway, Suite 1000, Dallas, TX 75243
(Address of Principal
Executive Offices)
Registrant's
telephone number, including area code: 214-221-4610
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company
☐
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Zion
Oil and Gas, Inc., a Delaware corporation, which has an active petroleum exploration license onshore Israel, the Megiddo-Jezreel
License (“MJL”), comprising approximately 99,000 acres,
announces that
during the current open hole wireline logging and subsequent reaming (cleaning the well bore) operations in the MJ #1 well, Zion
encountered free-flowing hydrocarbons, while circulating drilling mud.
Zion’s
President and Chief Operations Officer, Dustin Guinn, provided further understanding of recent events stating, “We were
cautiously optimistic given the amount of gas that accumulated in the well after returning from Shabbat after calling total depth
(TD) at 5,026 meters (~16,500 feet). After making our first of three open hole logging runs, we decided to ream to bottom to clean
the hole out in anticipation of our second logging run. After circulating the well, we experienced a continued and significant
increase in gas followed by clear evidence of oil in our circulated mud from the bottom of the well. This is obviously very exciting
news and as a result, we have decided to continue to drill up to another 70 meters (~230 feet). We expect that to take a couple
of days, and barring any operational difficulties, we will continue with our open hole logs immediately thereafter.”
Zion’s
CEO, Victor G. Carrillo, added, “I am ecstatic to see clear evidence of hydrocarbons (oil and gas) in the deeper portion
of our Megiddo-Jezreel #1 well – a project that we have been working on for years. However, at this time we cannot comment
on the commerciality or ability to successfully produce the well. We ask that our shareholders continue to pray for safe and successful
drilling, logging, and testing operations, and for God’s wisdom for management as we make key decisions in the following
days and weeks. Please be patient. We will provide further updates after we have adequate time to properly evaluate the logs and
finalize our well testing program following the recent events.”
Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits
2
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto
duly authorized.
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Zion Oil and Gas, Inc.
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Date: February 13, 2018
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By:
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/s/ Victor G. Carrillo
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Victor G. Carrillo
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Chief Executive Officer
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