Filed
pursuant to Rule 433
Registration
Statement No. 333-148982
The
press
release below was issued on August 5, 2008:
ZION
OIL & GAS EXTENDS MINIMUM OFFERING DATE
_____________________________________
Caesarea,
Israel - August 5, 2008 - Zion
Oil
& Gas, Inc. (Amex: ZN) of
Dallas, Texas and Caesarea, Israel announced today that it has extended to
October 11, 2008, the period in which Zion can accept subscriptions and payments
for the minimum number of units in its “best efforts minimum/ maximum offering”
that Zion commenced on May 14, 2008.
In
the
event that Zion does not receive and accept subscriptions and payment for a
minimum of 325,000 Units ($3,250,000) on or before October 11, 2008, then Zion’s
follow-on offering will be terminated, and all funds then held in the offering
escrow account will be returned to investors.
In
the
event that Zion receives and accepts subscriptions and payment for a minimum
of
325,000 Units ($3,250,000) on or before October 11, 2008, then Zion’s follow-on
offering may be further extended until 9 January 2009.
Zion
Oil
& Gas, Inc., a Delaware corporation, explores for oil and gas in Israel in
areas located onshore between Tel-Aviv and Haifa. It currently holds two
petroleum exploration licenses, the Joseph and Asher-Menashe Licenses, between
Netanya on the south and Haifa on the north covering a total of approximately
162,000 acres.
FORWARD-LOOKING
STATEMENTS: Statements in this press release that are not historical fact,
including statements relating to Zion’s public offering, the timing of any
closing and the results thereof, Zion’s planned operations, potential results
thereof and plans contingent thereon, are forward-looking statements as defined
in the "Safe Harbor" provision 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 the Prospectus 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. Accordingly, Zion can give no assurance that the expectations
reflected in these statements will prove to be correct. Zion assumes no
responsibility to update these statements.
Zion
Oil
& Gas, Inc. has filed a registration statement (including a prospectus) with
the SEC for the 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 or its underwriter will arrange to send you the prospectus if you request
it
by calling toll free 1-888-TX1-ZION (1-888-891-9466). Direct links to the SEC
location, or to the documents in PDF, may be found on the home page of Zion
Oil
& Gas. Inc., at www.zionoil.com.
Contact:
Ashley
Chatman
Zion
Oil
& Gas, Inc.
6510
Abrams Rd., Suite 300
Dallas,
TX 75231
Tel:
(1)
214-221-4610
Email:
dallas@zionoil.com