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): July 7, 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 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Extension of Asher-Menashe Petroleum Exploration License
On July 7, 2013, the Israeli Petroleum Commissioner notified Zion Oil & Gas, Inc. (the "Company" or “Zion”) that it was approving the Company’s request for an extension to the scheduled expiration date of the Company’s Asher-Menashe License (Petroleum Exploration License No. 334) to June 9, 2014.
Under the terms of the Asher-Menashe License, as extended, the Company is required, among other things, to (i) transfer the rig to the Elijah #3 well (“E-3”) location no later than November 1, 2013; (ii) perform a perforation and stimulation operation at E-3 at the zone within the Jurassic that is suspected to have oil and make a production test (drill stem test); (iii) in case the outcome of the tests is negative, the well is to be abandoned according to the approved plugging and abandonment (“P&A”) plan immediately upon completion of the test; and (vi) within 60 days after P&A, a final and detailed report should be submitted and the license is to be returned.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 99.1 – Petroleum Exploration License No. 334 “Asher-Menashe” License Extension Letter (translation)
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.
Date: July 9, 2013 | |||||
Zion Oil and Gas, Inc. | |||||
By: | /s/ Victor G. Carrillo | ||||
Victor G. Carrillo | |||||
President and Chief Operating Officer |
EXHIBIT 99.1
ASHER-MENASHE PETROLEUM EXPLORATION LICENSE NO. 334
EXTENSION LETTER (TRANSLATION)
State of Israel
Ministry of Energy and Water
Natural Resources Authority
Oil and Gas Division
7 July 2013
Attn:
Mr. Victor Carrillo, President
Zion Oil & Gas, Inc.
Bareket 22 P.O.B 3138
Caesarea Industrial Area Park (North)
38900
Greetings,
Subject: Extension of Asher Menashe License/334
Reference: Your letter dated 23 May 2013
In reply to your request I hereby approve the extension of one year until 9 June 2014 the final expiration of the license.
During the period of extension "Zion Oil & Gas" need to execute the working plan as follows:
1. Transfer the rig to E-3 location, directly after the plugging MR2 and MJ3 – no later than 1 Nov. 2013.
2. Perform perforation and stimulation operation at E-3 at the suspected zone within the Jurassic that is suspected to have oil and make a production test by DST. These activities are to take place during the period of extension.
3. In case the outcome of the tests will be negative, the well is to be abandoned according to the approved P&A plan immediately upon completion of the test. Within 60 days after P&A, a final and detailed report is to be submitted and the license is to be returned.
With Blessings,
Alexander Varshavski
Petroleum Commissioner