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EX-99.1 - EXHIBIT 99.1 - ZION OIL & GAS INCv349692_ex99-1.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported): July 7, 2013

 

ZION OIL & GAS, INC.

(Exact name of registrant as specified in its charter)

 

 Delaware      001-33228     20-0065053
 (State or other jurisdiction of incorporation)      (Commission File Number)      (IRS Employer  Identification No.)
         

 

6510 Abrams Road, Suite 300, Dallas, TX 75231

(Address of principal executive offices, including Zip Code)

 

214-221-4610

(Registrant's telephone number, including area code)

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

 

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

 

Extension of Asher-Menashe Petroleum Exploration License

 

On July 7, 2013, the Israeli Petroleum Commissioner notified Zion Oil & Gas, Inc. (the "Company" or “Zion”) that it was approving the Company’s request for an extension to the scheduled expiration date of the Company’s Asher-Menashe License (Petroleum Exploration License No. 334) to June 9, 2014.

 

Under the terms of the Asher-Menashe License, as extended, the Company is required, among other things, to (i) transfer the rig to the Elijah #3 well (“E-3”) location no later than November 1, 2013; (ii) perform a perforation and stimulation operation at E-3 at the zone within the Jurassic that is suspected to have oil and make a production test (drill stem test); (iii) in case the outcome of the tests is negative, the well is to be abandoned according to the approved plugging and abandonment (“P&A”) plan immediately upon completion of the test; and (vi) within 60 days after P&A, a final and detailed report should be submitted and the license is to be returned.

 

 

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

 

Exhibit 99.1 – Petroleum Exploration License No. 334 “Asher-Menashe” License Extension Letter (translation)

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.

 

           
Date: July 9, 2013        
         
Zion Oil and Gas, Inc.        
           
           
By: /s/ Victor G. Carrillo        
  Victor G. Carrillo        
  President and Chief Operating Officer