X0306 4/A 2013-01-02 2013-01-04 0 0001131312 ZION OIL & GAS INC ZN 0001501273 Carrillo Victor G 2850 SHORELINE TRAIL PMB #111 ROCKWALL TX 75032 1 1 0 0 President & COO Common Stock Option 1.7 2012-12-21 4 A 0 50000 A 2022-12-21 Common Stock, Par Value $0.01 50000 50000 D The original Form 4 filed on January 4, 2013 (the "Original Form 4") erroneously disclosed that the reporting person exercised on January 2, 2013 vested option for 6,250 shares of the issuer's common stock at a per share exercise price of $1.70. The amended Form 4 is being filed to correct the disclosure on the Original Form 4 as such options were not exercised. This amended Form 4 also amends and restates the reporting person's current holding of these options to reflect such person's current holding of the options, after correcting the erroneou disclosure on the Original Form 4. A stock option was issued under the issuer's 2011 Equity Incentive Plan on December 21, 2012 in connection with the continued employment of the reporting person, which option vests on a quaterly basis, in eight equal quarterly installments of 6,250 shares at the end of each quarter, beginning with the quarter ended December 31, 2012. Not Applicable. Brittany Russell AIF for Victor G. Carrillo 2013-01-10