SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Croswell Michael B. Jr.

(Last) (First) (Middle)
12655 NORTH CENTRAL EXPRESSWAY

(Street)
DALLAS TX 75243

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
09/16/2016
3. Issuer Name and Ticker or Trading Symbol
ZION OIL & GAS INC [ ZN ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Financial Officer
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock Option 50,000 D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock Option 12/05/2011 12/05/2021 Common Stock Par Value $0.01 40,000(1) 2.61 I Granted Stock Options(2)
Common Stock Option 12/21/2012 12/21/2022 Common Stock Par Value $0.01 30,000(1) 1.7 I Granted Stock Options(2)
Common Stock Option 06/06/2016 06/06/2026 Common Stock Par Value $0.01 100,000(1) 0.01 I Granted Stock Options(2)
Common Stock Option 10/01/2014 10/01/2024 Common Stock Par Value $0.01 1,693(1) 1.67 I Granted Stock Options(2)
Common Stock Option 01/02/2015 01/02/2025 Common Stock Par Value $0.01 48,307(3) 1.38 I Granted Stock Options(2)
Explanation of Responses:
1. Fully vested stock options were granted from the Issuer's 2011 Equity Incentive Plan: Non-Qualified Stock Option Award Agreement
2. Stock options granted not yet exercised.
3. Fully vested stock options were granted from the Issuer's 2005 Equity Incentive Plan: Non-Qualified Stock Options Award Agreement
Tim Hill 09/16/2016
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.