Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
19 Octubre 2016 - 2:50PM
Edgar (US Regulatory)
File Pursuant to Rule 433
File No. 333-193336
Zion
Oil & Gas Nears Drilling Phase in Northern Israel
DALLAS
and CAESAREA, Israel, Oct. 19, 2016 (GLOBE NEWSWIRE) -- Zion Oil & Gas, Inc. (NASDAQ:ZN) announced
today that it has met and complied with two key conditions set by Israel’s Petroleum Commissioner, enabling it to move toward
drilling its next deep oil well, about 40 kilometers (~25 miles) south of the Sea of Galilee, where the Jordan and Jezreel Valleys
meet.
The
State of Israel produces only a few thousand barrels of oil a day, which means it relies on the global market for more than 99
percent of its consumption. Zion Oil & Gas is committed to discovering a domestic supply of oil, which is a vitally important
resource to ensure Israel’s strategic and financial security, and in so doing to bless the nation.
“We
are excited to have successfully negotiated a drilling contract with DAFORA S.R.L. as well as completing and submitting our drilling
engineering plan,” says Victor G. Carrillo, Zion’s CEO. “Reaching these two milestones, combined with signing
agreements with both Kibbutz Sde Eliyahu on whose property the drill pad will be situated, and the Israel Land Authority (ILA)
to access and utilize the drill site, allows us to start drill pad construction soon.”
Zion’s
oil well drilling contract is with S.C. Daflog S.R.L., the Israeli-registered entity of and related party of DAFORA, a Romanian
company.
“Given
that DAFORA has drilled over 1,000 wells in Romania, Eastern Europe and East Africa, we are confident they are the right partner
for our Megiddo-Jezreel #1 well in Israel,” Zion’s President, Dustin Guinn, said. “Zion will use DAFORA’s
F-400 drilling rig, currently stored in Israel, to drill to about 4,500 meters (~15,000 feet).”
Dafora’s
F-400 Rig
“We
plan to award the drill site construction contract as soon as our outside engineering firm finalizes our site plan to accommodate
DAFORA’s F-400 rig,” said Mr. Carrillo. “Assuming no further weather or regulatory delays, drill site construction
should begin in November and take no longer than about 60 days to finish.”
In
preparation to drill, Zion has spent almost $1,000,000 on necessary well drilling equipment, including well casing, and long lead
time items. The Company’s final step before spudding the well is to submit the drill site plan along with its application
to drill to the government for final approval.
This
all depends, however, on raising significant additional capital. Zion is currently
offering a public bond
program with
a 12% annual return for 12 years, in addition to their ongoing
Direct Stock Purchase Program (DSPP)
.
“We
think this program offers a unique opportunity for interested investors to both move our drilling operations forward while also
benefitting from a generous return,” Mr. Guinn describes. “We are facing a final date of October 31, 2016, for this
current Bond Offering for those wanting to participate.”
Zion
is dedicated to exploring for oil and gas onshore Israel. We are 100% focused on our Megiddo-Jezreel License, a large area of
about 99,000 acres south of the Sea of Galilee. Zion has been granted the exclusive right to explore in an area that appears to
possess the key geologic ingredients of an active petroleum system with significant onshore exploration potential. We intend to
start drilling our deep exploratory well, the Megiddo-Jezreel #1, as soon as possible, assuming sufficient capital is raised.
Contact
Info:
Zion
Oil & Gas, Inc.
12655
North Central Expressway, Suite 1000
Dallas,
TX 75243
Andrew
Summey
Telephone:
888-891-9466
Email:
invest@zionoil.com
www.zionoil.com
FORWARD
LOOKING STATEMENTS: Statements in this press release that are not historical fact, including statements relating to Zion’s
entry into a drilling contract with Daflog and the terms, the public offering, and the results thereof 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 Zion's periodic filings with the Securities and Exchange Commission, including the prospectus
filed in connection with Zion's current public offering, 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.
Please
note that this communication is neither an offer nor a solicitation of any offer. The securities are offered by prospectus only,
and only within those states and other jurisdictions in which the securities may be sold, and this communication 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.
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, Network 1
Financial Securities, Inc., will arrange to send you the prospectus if you request it by calling toll free 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
.
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