Filed
pursuant to Rule 433
Registration
Statement No. 333-157007
Geologist
Aaron Kahn in Zion's Mud Logging Unit
Dear
Shareholder and/or Friend of Zion...
Drilling Operations on the
Ma'anit-Rehoboth #2 Well
In
previous emails, I have highlighted the 2,000 horsepower drilling rig and rig
crews, from Turkey, the 5-person directional drilling team from Italy and our
drilling supervisor from Texas. Continuing with the theme of the equipment and
people involved in drilling our well, this week I would like to bring into the
limelight Zion's mud logging unit and also one of Zion's geologists, Aaron
Kahn.
Aaron is
from Columbus, Ohio and qualified as a Geologist at the School of Earth
Sciences, Ohio State University. He is a member of the American
Institute of Professional Geologists, the American Geophysical Union and the
Israel Geological Society. Aaron lives in Israel and is currently in charge of
our mud logging unit. He studied Well Log Analysis at the Colorado School of
Mines and Mud Logging in Houston, Texas. The photograph above, taken last week,
shows Aaron in the mud logging unit, next to the drilling rig, at the
Ma'anit-Rehoboth #2 drilling site.
During
the drilling of a well, a drilling fluid, called 'drilling mud', is used. The
drilling mud consists of water and bentonite (a type of clay that will stay
suspended in water) together with some (non-toxic) chemicals.
The
drilling mud is stored in mud tanks on the ground beside the rig and using mud
pumps, the mud is pumped through the drill string where it sprays out of nozzles
in the drill bit, cleaning and cooling the drill bit in the process. The mud
then carries the rock "cuttings" up to the surface where the cuttings are
then filtered out and the mud returns to the mud pits.
The
drilling mud not only cools and lubricates the drill bit and removes rock
cuttings from the well, but also controls the formation pressures and
powers the downhole motor.
The mud
logging unit is a mobile laboratory at the well site and contains the scientific
equipment required to examine drill cuttings under a microscope and produce a
'mud log', (a compilation of the drilling parameters and description of the well
cuttings including any traces of gas and oil, as the well is being
drilled).
After the
drilling phase, the mud log can be used, along with the other scientific data,
to help with appraisal and evaluation of the well.
Drilling Progress
Report
Here is
(weekly) Progress Report #4, for the week ended Thursday, June 4, 2009. The
Report is from Zion's President and Chief Operating Officer, Glen
Perry.
"As I
mentioned last week, the remaining drilling operations on the Ma'anit-Rehoboth
#2 well can be divided into five steps:
(1) Drilling
directionally into the Triassic formation, a depth of approximately 15,400
feet (4,750 meters).
(2) Appraisal
and evaluation of the Triassic formation using electrical wireline well
logs.
(3)
Setting and cementing casing at that depth.
(4) Drilling
deeper to the Permian formation, a depth of approximately 18,000 feet
(5,500 meters).
(5) Appraisal
and evaluation of the Permian formation using electrical wireline well
logs.
This past
week we have continued drilling towards our Triassic formation target. We
have now reached a depth of approximately 12,630 feet (3,850
meters).
The
drilling is going very well indeed. To date, our maximum drilling rate has been
approximately 35 feet (10.7 meters) per hour and we have been averaging
approximately 15 feet (4.6 meters) per hour.
Rights
Offering
Our
ability to reach the deep Permian formation is dependent on us raising further
funds, so we are holding a Rights Offering. Anyone who was a stockholder on the
record date of May 4, 2009, has the right to purchase some more Zion stock at
$5.00 per share of stock.
If you
are a stockholder, I hope you will exercise your rights to purchase Zion stock
at $5.00 and even consider an over-subscription.
Please be aware that the
rights offering is set to expire on June 10,
2009. Although we may, at our discretion, extend that expiration date, if
you do want to exercise your rights before they expire, don't wait until it is
too late.
Proxy
Finally,
if you have received a Proxy voting form, it would help us if you would vote.
You can vote by internet, by telephone or by mailing the completed form, so
please take two minutes and make your vote
count.
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Psalm
51:18 - In your good
pleasure, make Zion
prosper...
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Thank
you for your continued support of Zion, and
Shalom
from Israel
Richard
Rinberg
CEO
of Zion Oil & Gas, Inc.
www.zionoil.com
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FORWARD LOOKING
STATEMENTS: Statements in this communication that are not
historical fact, including statements regarding Zion's planned operations,
drilling efforts 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.
Zion
Oil & Gas, Inc. has filed a registration statement (including a
prospectus) with the SEC for the rights offering to which this
communication relates. Before you invest, you should read the prospectus
in that registration statement and other documents the issuer has filed
with the SEC for more complete information about Zion Oil & Gas and
its offering. You may get these documents for free by visiting EDGAR on
the SEC website at www.sec.gov. Alternatively, Zion Oil & Gas will
send you the prospectus if you request it by calling toll free
1-888-TX1-ZION (1-888-891-9466).
The
securities are offered by prospectus only, and only within those States
and other jurisdictions in which the securities may be sold, and this
announcement is neither an offer to sell nor a solicitation of any offer
to buy in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification under
the securities of any such state or jurisdiction.
More
information about the offering is available at www.zionoil.com. A copy of
the prospectus can be obtained on request, by calling toll free
1-888-TX1-ZION (1-888-891-9466) or by contacting Kim Kaylor at Zion Oil
& Gas, Inc., 6510 Abrams Rd., Suite 300, Dallas, TX 75231; telephone
1-214-221-4610; email: dallas@zionoil.com
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