Unassociated Document
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
April
22, 2010
Date of
Report (Date of earliest event reported)
Zion
Oil & Gas, Inc.
(Exact
name of registrant as specified in its charter)
Delaware
(State or
other jurisdiction of incorporation)
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001-33228
(Commission
File Number)
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20-0065053
(IRS
Employer Identification No.)
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6510
Abrams Road, Suite 300, Dallas, TX 75231
(Address
of Principal Executive
Offices) (Zip
Code)
Registrant's
telephone number, including area code: 214-221-4610
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:
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Extension of Joseph
Petroleum Exploration License
On April
22, 2010, the Israeli Petroleum Commissioner notified Zion Oil & Gas, Inc.
(the "Company" or “Zion”) that it was approving the Company’s request for a
one-year extension on the Company’s Joseph License, extending the expiration
date of the Joseph License until October 10, 2011.
The
Company’s “Joseph License” covers approximately 83,272 acres on the Israeli
coastal plain south of the Asher-Menashe License between Caesarea in the north
and Netanya in the south. The Joseph License had an initial
three-year term that ran from October 10, 2007 through October 10, 2010, and has
now been extended for an additional one-year period ending October 10, 2011. At
the option of the Israeli Petroleum Commissioner, the Joseph License may be
extended for additional one-year periods up to 2014.
Under the
terms of the Joseph License, as extended, Zion is required (i) to submit to the
Israeli Petroleum Commissioner a report as to the production testing of Zion’s
Ma’anit-Rehoboth #2 well by October 1, 2010 and (ii) to start drilling, by
January 1, 2011, a well to the Permian geological layer.
The
Company is in the process of preparing for submission to the Israeli Petroleum
Commissioner the production reports relating to the Ma’anit-Rehoboth #2 well and
has previously disclosed its plans to drill the Ma’anit-Joseph #3 well to test
the Permian geological formation, both of which are located within the Joseph
License area. The Company has started the permitting process for the
Ma’anit-Joseph #3 well.
Attached,
as Exhibit 10.1, is an English translation from the original Hebrew of the
extension letter.
ITEM 9.01. FINANCIAL STATEMENTS AND
EXHIBITS
Exhibit
10.1 – Petroleum Exploration License No. 339/ “Joseph” 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.
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Zion
Oil and Gas, Inc.
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Date: April
28, 2010
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By:
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/s/ Richard
J. Rinberg
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Richard
J. Rinberg
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Chief
Executive Officer
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