Unassociated Document
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This
is a press release issued today.
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Filed
pursuant to Rule 433
Registration
Statement No.
333-148982
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ZION
OIL FILES POST EFFECTIVE AMENDMENT TO ITS REGISTRATION
STATEMENT
---------------
FILING
INTENDED TO EXTEND THE MINIMUM OFFERING DATES FOR $25 MILLION OFFERING TO ENABLE
A
MULTI-WELL DRILLING PROGRAM
Dallas,
Texas and Caesarea, Israel - October 2, 2008
- Zion
Oil & Gas, Inc. (Amex: ZN),
announced today the filing of a post effective amendment to its registration
statement with the SEC. The registration statement for a follow-on public
offering of a minimum of 325,000 units, up to a maximum of 2,500,000 units,
at
$10.00 per unit, originally was declared effective on May 14, 2008. The post
effective amendment, which is subject to SEC review, is being filed in order
to
extend the minimum raise date of October 11, 2008.
Zion
is
raising funds in order to pursue its planned multi-well drilling program.
Depending on actual amounts raised, Zion intends to carry out, to the extent
possible, the following work program: drill Zion's second well to the Triassic
Formation (at a depth of 15,400 feet under Zion's Joseph License) and / or
to
the Permian Formation (at a depth of 18,040 feet), drill a test well on Zion's
Asher-Menashe License to the Triassic Formation and, if appropriate, the Permian
Formation and prepare for the drilling of an additional well on either its
Joseph or Asher-Menashe License.
Zion's
common stock trades on the American Stock Exchange under the symbol ZN.
A
post
effective amendment to a registration statement relating to the securities
described above has been filed with the Securities & Exchange Commission but
has not yet been declared effective. The securities may not be sold nor may
offers to buy be accepted prior to the time the post effective amendment to
the
registration statement becomes effective. The information in this press release
shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or country in
which
such offer, solicitation or sale would be unlawful prior to the registration,
qualification or exemption under the securities laws of any such state or
country.
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.
Zion
Oil
& Gas, 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 regarding the future effectiveness of Zion’s
registration statement, matters regarding the offering and possible closings
thereof dependent on the declaration of effectiveness, Zion's planned
operations, potential results thereof and plans contingent thereon, including
selection of potential drilling targets and locations, 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’s
homepage may be found at: www.zionoil.com
Contact:
Brittany
Russell
Zion
Oil
& Gas, Inc.
6510
Abrams Rd., Suite 300
Dallas,
TX 75231
(1)
214-221-4610
Email:
dallas@zionoil.com