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
June
19, 2008 (June 18, 2008)
____________________________________
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)
333-131875
(Commission
File Number)
|
20-0065053
(IRS
Employer Identification
No.)
|
6510
Abrams Road, Suite 300, Dallas, TX 75231
_____________________________________
(Address
of Principal Executive Offices)
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:
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 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
8.01 Other Events
On
June 18,
2008,
Zion Oil & Gas, Inc. ("Zion" or the "Company") entered into a Protocol with
a drilling contractor relating to the transportation of a rig to Israel in
order
to conduct the drilling contemplated by the Company’s business plan. The
Protocol contemplates that the parties will seek to enter into a drilling
contract by July 31, 2008. No assurance can, however, be provided that the
drilling contract as contemplated in the Protocol or as otherwise revised by
the
parties in the course of continuing discussions between them will in fact be
executed. The Company paid the contractor an immediate down payment of $175,000
on account of mobilization fees in the aggregate amount of $675,000.
Even
if
the Company and the Contractor execute the drilling contract, the contractor
will need to obtain certain permits and requisite authorization before the
rig
can be brought into Israel. Under the terms of the Protocol, if the contractor
is unable to obtain such permits by September 30, 2008, the contractor is
entitled, upon submission of certain documents after the execution of the
drilling contract, to terminate the contract. Upon such termination, the
contractor will refund to the Company sums then paid under the Protocol and
the
drilling contract, less a 15% retention to cover the contractor’s costs and
expenses.
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: June
19, 2008 |
By: |
/s/ Richard
J. Rinberg |
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Richard
J. Rinberg |
|
Chief
Executive Officer
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