Attached files
| file | filename |
|---|---|
| 10-K - ZION OIL & GAS INC | v177590_10k.htm |
| EX-32.1 - ZION OIL & GAS INC | v177590_ex32-1.htm |
| EX-23.3 - ZION OIL & GAS INC | v177590_ex23-2.htm |
| EX-31.2 - ZION OIL & GAS INC | v177590_ex31-2.htm |
| EX-31.1 - ZION OIL & GAS INC | v177590_ex31-1.htm |
| EX-23.3 - ZION OIL & GAS INC | v177590_ex23-3.htm |
| EX-32.2 - ZION OIL & GAS INC | v177590_ex32-2.htm |
EXHIBIT
10.3
STATE
OF ISRAEL
Petroleum
Law 5712-1952
PRELIMINARY
PERMIT
NUMBER
201 /”ISSACHAR-ZEBULUN”
BY
VIRTUE OF MY AUTHORITY IN ACCORDANCE WITH SECTION 7 OF THE PETROLEUM LAW
5712-1952
IT
IS HEREBY ISSUED TO ZION OIL & GAS INC (100%)
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PELIMINARY
PERMIT
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To
carry out preliminary inspections, including geologist and geophysics
works so as to ascertain the possibility of discovering petroleum within
the area as described in the First Addendum which is an integral part of
the preliminary permit herein.
|
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THIS
PRELIMINARY PERMIT
|
is
granted pursuant to the provisions of the Petroleum Law 5712-1952 and
regulations thereof, and subject to the permit owner complying with the
law and regulations as aforesaid, as per the specific terms as set forth
in the Second Addendum which is an integral part of the
preliminary permit herein.
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|
The
validity of this preliminary permit shall expire on the
date
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30 of Shevat 5772
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|
|
23
February 2011
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||
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Issued
in Jerusalem on the date
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4th of Elul 5769
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|
|
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24
August 2009
|
Dr. Yaakov
Mimran
Oil
Commissioner
STATE
OF ISRAEL
Petroleum
Law 5712-1952
PRELIMINARY
PERMIT
NUMBER
201 /”ISSACHAR-ZEBULUN”
For
Zion Coordinates FIRST ADDENDUM
DESCRIPTION
OF THE AREA
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From
Zion coordinate
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215000/730000
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east
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||
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To
Zion coordinate
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23000/730000
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thence
north east
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||
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To
Zion coordinate
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259500/735000
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thence
south
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||
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To
Zion coordinate
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259505/732160
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then
south along the international border
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||
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To
Zion coordinate
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254041/707000
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thence
west
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||
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To
Zion coordinate
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246000/707000
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thence
north west
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||
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To
Zion coordinate
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242600/719000
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thence
west
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||
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To
Zion coordinate
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223300/719000
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thence
south west along the green line
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||
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To
Zion coordinate
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218322/715005
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thence
north
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||
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To
Zion coordinate
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213000/722000
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thence
return north east
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||
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To
Zion coordinate
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215000/730000
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The
entire area is 660,420 dunam( 660.42 square kilometers)
The
coordinates are based on the new Israeli network.
1. The
boundary of the area shall be as they are in the above description
notwithstanding any apparent change from the demarcation in the maps submitted
by the preliminary permit recipient.
|
Issued
in Jerusalem on the date
|
4th of Shevat 5769
|
|
|
|
24
August 2009
|
Dr. Yaakov
Mimran
Oil
Commissioner
STATE
OF ISRAEL
Petroleum
Law 5712-1952
PRELIMINARY
PERMIT
NUMBER
201 /”ISSACHAR-ZEBULUN”
Second
Addendum
Specific
Terms
During
the period of the permit the owner of the permit shall carry out the following
work program:
1.
Execute an agreement with a contractor for geophysics works to perform
reprocessing of approximately 100 km of existing seismic lines -within a month
from the date that the permit was issued.
2.
Reprocessing the above lines and presenting a report to the Commissioner within
6 months.
3.
Execute an agreement with a contractor for geophysics works to perform a survey
of new seismic lines having a length of approximately 30 km within 8 months from
the date that the permit was issued.
4. Carry
out a seismic survey and interpretation thereof- within 12 months from the date
that the permit was issued.
5.
Integrating all of the data and presenting a drilling prospect within the permit
area up to the date that the permit expires.
6.
Submitting quarterly reports pursuant to regulation 4 of
the Petroleum Regulations and a month before the expiration of the preliminary
permit a report will be submitted, 2 copies, with respect to the works that have
been performed in the area and the findings therein, and the investment that the
company invested. The report shall include the following:
a.
Prospect evaluation of the various plays.
b.
Structural maps (time and depth) and isopach maps regarding Mesozoic and
Cenozoic key horizons.
c.
Attribute maps with the appropriate context, in the event that these are
prepared.
d.
Paleogeographical maps of the structural units which constitute the various
plays.
e.
Evaluating the petroleum potential and movement path of the
hydrocarbons.
7. The
final report shall include all the works that were performed in the permit area
and the following items shall be attached (in the event that they have not been
submitted previously in the quarterly reports or pursuant to clause 5 above):
all the geophysics material, including copies of field tapes of magnetic data,
accompanied documentary material such as surveyor reports, operator reports,
location reports, results from processing new seismic lines and reprocessing old
seismic lines. The relevant material shall be submitted by magnetic film and
semi original – mailer type.
No
original geophysics material such as magnetic films etc’ shall be taken out of
the country – only copies may be taken out of the country.
Non
compliance with the above terms shall bring about the immediate termination of
the permit from the date of non compliance of the terms.
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Issued
in Jerusalem on the date
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4th of Shevat 5769
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|
|
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24
August 2009
|
Dr. Yaakov
Mimran
Oil
Commissioner
Ministry
of National Infrastructure
August
24, 2009
4th Elul
5769
Richard
Rinberg
Zion Oil
& Gas Inc.
Re:
Preliminary Permit With Priority Rights -201/”Issachar- Zebulun”
1. We
hereby inform you that pursuant to my authority in accordance
with section 7A of the Petroleum Law 5712-1952 (
hereinafter “the Petroleum Law”) and after consultation with the advisory
council in accordance with the said Law and in view of
the work program as set forth in the second
Addendum to the Preliminary Permit 201/”Issachar – Zebulun”(
hereinafter the “Preliminary Permit”) , with an estimated cost of $450,000 I
have resolved to grant priority rights to receive petroleum rights in the area
as set forth in the Preliminary Permit to Zion Oil & Gas Ltd ,
subject to execution of the aforesaid plan.
2. Priority
rights to receive petroleum rights in the area of the Preliminary Permit is
subject to fulfillment of the terms of the Preliminary Permit, in execution of
the work programs and fulfillment of the relevant provisions of the Petroleum
Law with respect to the subject matter.
3. The
priority rights shall be valid for 18 months or until expiration of the
Preliminary Permit the earlier of the two dates.
4. The
grant of the priority rights shall not be deemed to exempt the permit holder
from fulfilling all of the requirements to receive a license in accordance with
the Law, including requirements with respect to financial stability or
undertaking to invest that will be required as a condition precedent to the
grant of a license. You are referred also to sections 17, 27 and 56 of the
Petroleum Law.
Sincerely
Dr. Uzi
Landau
Minister
of National Infrastructure