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Wednesday, December 1, 2021

Zion Oil & Gas, Inc. (OTCMKTS: ZNOG) Powerful Reversal Brewing as Oil Operator Commences Testing after the Successful Completion of the drilling phase its Megiddo Jezreel #1 (“MJ #1”) Well

Zion Oil & Gas, Inc. (OTCMKTS: ZNOG) is on the move northbound after the Company announced it has completed the drilling phase of the megiddo-Jezreel #2 (MJ-02) well. Zion has completed the drilling of the MJ02 well to a total depth of 5,531 meters (18,141 feet) with a six-inch (6″) open hole at that depth. The primary zone of interest contains encouraging shows of hydrocarbons. Management states they are thankful for the successful completion of the drilling phase and are eager to move forward with testing immediately based on encouraging hydrocarbon shows. Based on these logs and analysis, additional zones of interest may be identified and tested. All testing equipment and personnel are in Israel, and Zion is assembling the required equipment at the well site for the comprehensive testing. 

There is a lot to get excited about ZNOG at current price levels; an ex-NASDAQ stock that skyrocketed to $1.75 in December of last year is currently trading just over $0.20 per share on heavy volume and a gap to fill. The Company has just completed the drilling phase and is eager to move forward with testing immediately based on encouraging hydrocarbon shows at its Megiddo Jezreel #1 (“MJ #1”) site where the Company previously estimated the reserve potential of the formation at 484 million barrels. ZIon Oil & Gas has a biblically inspired vision to find oil and/or natural gas in Israel. The Golan Heights and Jezreel Valley are emerging as a potential oil hotspot in Israel. Scientists say they have discovered a possible oil bonanza in the area with the potential of billions of barrels in the ground. According to geologist Yuval Batov “the layer is 350 meters thick, which is 10 times larger than the average oil find worldwide. 

Zion Oil & Gas, Inc. (OTCMKTS: ZNOG) a public company, traded on OTCQX Best Market, explores for oil and gas onshore in Israel on their 99,000-acre Megiddo-Jezreel license area. The Megiddo Jezreel #1 (“MJ #1”) site was completed in early March 2017, after which the drilling rig and associated equipment were mobilized to the site. Performance and endurance tests were completed, and the MJ #1 exploratory well was spud on June 5, 2017 and drilled to a total depth (“TD”) of 5,060 meters (approximately 16,600 feet). Thereafter, the Company obtained three open-hole wireline log suites (including a formation image log), and the well was successfully cased and cemented. The Ministry of Energy approved the well testing protocol on April 29, 2018. Zion Oil & Gas, Inc. has executive offices located at 12655 North Central Expressway, Suite 1000, Dallas, Texas as well as 9 Halamish Street, North Industrial Park, Caesarea, Israel.   

Zion’s 99,000-acre Megiddo-Jezreel license area is located in the Golan Heights and Jezreel Valley which are emerging as an oil hotspot in Israel. Scientists say they have discovered a possible oil bonanza in the area with the potential of billions of barrels in the ground. According to geologist Yuval Batov “the layer is 350 meters thick, which is 10 times larger than the average oil find worldwide. 

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ZNOG

Zion Oil & Gas License Area – 99,000 Acres

ZNOG History – In 1985, during a visit to Israel, John M. Brown (our founder and CEO) became inspired and dedicated to finding oil and gas in Israel, and he started the process that led to the Joseph Project. During the next fourteen years he made several trips each year to Israel, hired oil and gas consultants in Israel and Texas, met with Israeli government officials, made direct investments with local exploration companies, and assisted Israeli exploration companies in raising money for oil and gas exploration in Israel. This activity led Mr. Brown, together with others who had assisted him during those years, to form Zion Oil and Gas, Inc. in April 2000 in order to receive the award of a small onshore petroleum license from the Israeli government. Upon its formation, Mr. Brown and the others contributed to Zion all of the technical, economic, legal and financial data they had accumulated over the years relating to oil and gas exploration in Israel. We were reincorporated in Delaware on July 9, 2003. Though we have been around a long time, support for Israel, it is similar to the recent phenomena of social and ethical investing,where in crowd fundraising and otherwise people can choose investments which match their social & political, etc., outlook. To our knowledge those groups are not discriminatorily targeted because of their beliefs.

Last year Zion acquired a drilling rig, for $5.6 million in cash. The rig is a 1600 horsepower AC Top Drive equipped rig with a twin 1600 horsepower mud pump system with a depth capability of 20,000 ft. The rig will be equipped with almost 15,000 ft of heavy 5” drill pipe along with associated well control equipment and inventory. 1600 horsepower AC Top Drive equipped rig capable of 20,000ft depth. The rig underwent a full CAT III & IV certification in late 2017, reassuring the quality of the rig and ancillary equipment, and it has drilled two wells since certification. 

Microcapdaily first reported on ZNOG when it hit the otc in September of last year reporting at the time: “Zion Oil & Gas, Inc. (OTCMKTS: ZNOG) has been making an explosive move up the charts in recent days since hitting the OTCQB and reversing off $0.12 all-time lows. ZNOG was delisted from the NASDAQ stock exchange where it used to trade under the ticker; ZN on September 3 after opting not do a RS and has been emerging as a volume leader in small caps since; newly delisted big boards have a long history of big moves once on the otc. ZNOG is an ex-NASDAQ runner that was trading well over $6 per share back in 2017 and has a huge gap to fill from current levels. The stock hit an all-time low of $0.12 after being delisted to the OTCQB but has been running steadily northbound since then. With the law suites tossed and no minimum bid requirement hanging over its head ZNOG is under heavy accumulation from investors who are all too aware of the explosive history of these ex big boards that land on the OTCQB. ZNOG has a lot going for it and there is a lot of support for Zion Oil & Gas and its biblically inspired vision to find oil and/or natural gas in Israel.” 

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ZNOG is on the move northbound after the Company announced it has completed the drilling phase of the megiddo-Jezreel #2 (MJ-02) well. Zion has completed the drilling of the MJ02 well to a total depth of 5,531 meters (18,141 feet) with a six-inch (6″) open hole at that depth. The primary zone of interest contains encouraging shows of hydrocarbons. Management states they are thankful for the successful completion of the drilling phase and are eager to move forward with testing immediately based on encouraging hydrocarbon shows. Based on these logs and analysis, additional zones of interest may be identified and tested. All testing equipment and personnel are in Israel, and Zion is assembling the required equipment at the well site for the comprehensive testing. There is a lot to get excited about ZNOG at current price levels; an ex-NASDAQ stock that skyrocketed to $1.75 in December of last year is currently trading just over $0.20 per share on heavy volume and a gap to fill. The Company has just completed the drilling phase and is eager to move forward with testing immediately based on encouraging hydrocarbon shows at its Megiddo Jezreel #1 (“MJ #1”) site where the Company previously estimated the reserve potential of the formation at 484 million barrels. ZIon Oil & Gas has a biblically inspired vision to find oil and/or natural gas in Israel. The Golan Heights and Jezreel Valley are emerging as a potential oil hotspot in Israel. Scientists say they have discovered a possible oil bonanza in the area with the potential of billions of barrels in the ground. According to geologist Yuval Batov “the layer is 350 meters thick, which is 10 times larger than the average oil find worldwide. We will be updating on ZNOG when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ZNOG.

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Disclosure: we hold no position in ZNOG either long or short and we have not been compensated for this article.

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