Zion Oil & Gas Receives Oil and Gas Exploration License

Zion Oil & Gas, Inc. (OTCQX: ZNOG) has received a new license agreement – “New Megiddo 428” – granted over the previous Megiddo-Jezreel license area in northern Israel.

As of December 3, 2020, Israel’s Petroleum Commissioner granted Zion Oil & Gas a new license agreement from the State of Israel over the previous 99,000-acre license area.

The term of the new license agreement has been granted for six months.

Similar to previous Zion license agreements Israel’s Petroleum Commissioner has the authority to grant the New Megiddo 428 license.

The New Megiddo 428 license may be extended for an additional six months for a total license period of twelve months.

All necessary drilling equipment and supplies have either arrived at the rig site or are in port going through final clearance procedures. The drilling crew is working diligently to assemble the rig in time for Israeli governmental inspections which are scheduled for next week.

Zion Oil & Gas has offices in Dallas.

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