UNITED STATES
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
Date of report (Date of earliest event reported): June 19, 2013
ZION OIL & GAS, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-33228 | 20-0065053 | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
6510 Abrams Road, Suite 300, Dallas, TX 75231
(Address of principal executive offices, including Zip Code)
214-221-4610
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report.)
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 (see General Instruction A.2. below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 8.01 OTHER EVENTS
On June 19, 2013, Zion Oil & Gas, Inc. announced that in-well testing has been approved by the Board of Directors at its Elijah #3 well in the Asher-Menashe License, in which an application was submitted for a third one-year extension on April 26, 2013.
A copy of the press release announcing the item described above is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 99.1 – Press Release dated June 19, 2013
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.
| Zion Oil and Gas, Inc. | |||
| Date: June 19, 2013 | By: | /s/ John Brown | |
| John Brown | |||
| Chief Executive Officer | |||
Exhibit 99.1
Zion Oil & Gas to Conduct In-Well Testing Operations at its Elijah #3 Well
Dallas, Texas and Caesarea, Israel – June 19, 2013 – Zion Oil & Gas, Inc. (NASDAQ: ZN) (“Zion” or “Company”) announced today that the Board of Directors approved of in-well testing at its Elijah #3 well in the Asher-Menashe License, in which an application was submitted to Israel’s Petroleum Commissioner for a third one-year extension on April 26, 2013.
During Zion’s 2013 Annual Shareholders’ Meeting, the Board of Directors on June 12, 2013 approved an Authority for Expenditure (“AFE”) proposal to conduct in-well testing of its Elijah #3 well within the Jurassic geological section, at approximately 7,380 feet (2,250 meters), with operations likely to occur in September, 2013. Zion plans to perforate the zone of interest, fluid stimulate the carbonate rock, and perform a drill stem test. A drill stem test is a procedure for isolating and testing the pressure, permeability and productive capacity of a geological formation within a well. The test is a key method of obtaining information on the formation fluid and establishing whether a well has found a commercial hydrocarbon reservoir.
Zion Oil & Gas, a Delaware corporation, explores for oil and gas in Israel in areas located onshore between Haifa and Tel Aviv. It currently holds three petroleum exploration licenses - the Joseph and the Asher-Menashe Licenses, between Netanya, in the south, and Haifa, in the north, covering approximately 83,000 and 79,000 acres, respectively, and the Jordan Valley License to the east of Zion’s Asher-Menashe license area, covering approximately 56,000 acres. Zion awaits approval of the Megiddo-Jezreel License of approximately 98,000 acres, in which the proposed work plan and boundaries have been preliminarily approved by Israel’s Petroleum Commissioner within the Energy Ministry. If the Energy Ministry grants Zion’s applied-for Megiddo-Jezreel License, Zion’s total petroleum exploration rights area will be approximately 316,000 acres.
For updates on exploration and operational activities, please visit Zion’s website: “www.zionoil.com”. Zion’s common stock trades on the NASDAQ Global Market under the symbol “ZN.”
FORWARD LOOKING STATEMENTS: Statements in this press release that are not historical fact, including statements regarding Zion’s planned operations and potential results thereof and plans contingent thereon, are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
Contact:
Zion Oil & Gas, Inc.
Brittany Russell, 214-221-4610
dallas@zionoil.com