Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - ZION OIL & GAS INC | v172859_8k.htm |
| EX-10.1 - EMPLOYMENT AGREEMENT - ZION OIL & GAS INC | v172859_ex10-1.htm |
Exhibit 99.1
Bill
Ottaviani joins Zion Oil as
President
and Chief Operating Officer
Dallas,
Texas and Caesarea, Israel – February 1, 2010 – Zion Oil & Gas, Inc. (NASDAQ
GM: ZN) announced today
that William L. Ottaviani has joined the Company as President and Chief
Operating Officer.
William
(Bill) Ottaviani, a Petroleum Engineer, has spent 25 years (1982 to 2007)
working for Chevron Corporation in various countries, including Angola,
Indonesia and the USA, and two years (2007-2009) as Chief Operating Officer of
Rex Energy. He earned a Masters in Business Administration from California State
University and a Bachelor of Science degree (with High Distinction) in Petroleum
and Natural Gas Engineering from Pennsylvania State University.
During
his career, Mr. Ottaviani was awarded multiple Chevron and US Department of
Energy Recognition Awards for performance achievements. When working for
Chevron’s subsidiary, Caltex Pacific Indonesia, Bill was awarded the company’s
highest recognition, earning the President's Award for his work in successfully
negotiating a $1.5 Billion gas contract. He is a member of the Society of
Petroleum Engineers.
Zion’s
Chief Executive Officer, Richard Rinberg, said today that, “Bill Ottaviani joins
Zion with a proven industry track record and will greatly strengthen our
managerial and operational competence. Bill is a first class oil and gas
professional who has the experience, the ability and the specific skill-set to
provide Zion with fundamental operational and technical direction, help us to
implement our multi-well strategy and achieve success with our
operations.”
Zion’s
common stock trades on the NASDAQ Global Market under the symbol “ZN” and Zion’s
warrants trade under the symbol “ZNWAW”.
Zion Oil
& Gas, a Delaware corporation, explores for oil and gas in Israel in areas
located on-shore between Haifa and Tel Aviv. It currently holds two petroleum
exploration licenses, the Joseph and the Asher-Menashe Licenses, between
Netanya, in the south, and Haifa, in the north, covering a total of
approximately 162,000 acres and the Issachar-Zebulun Permit Area, adjacent to
and to the east of Zion’s Asher-Menashe license area, covering approximately
165,000 acres. Zion’s total petroleum exploration rights area is approximately
327,000 acres.
FORWARD LOOKING STATEMENTS: Statements
in this communication that are not historical fact, including statements
regarding Zion's planned operations, drilling efforts and locations, the
presence or recoverability of hydrocarbons, timing and potential results thereof
and plans contingent thereon and sufficiency of cash reserves 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:
Zion Oil
& Gas, Inc.
Brittany
Russell, 214-221-4610
dallas@zionoil.com