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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

 

November 23, 2021

Date of Report (Date of earliest event reported)

 

Zion Oil & Gas, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware

(State or other jurisdiction of incorporation)

 

001-33228   20-0065053
(Commission File Number)   (IRS Employer Identification No.)

 

12655 North Central Expressway, Suite 1000, Dallas, TX 75243

(Address of Principal Executive Offices) (Zip Code)

 

Registrant’s telephone number, including area code: 214-221-4610

  

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:

 

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

 

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

 

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

 

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

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company  ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
         

 

 

 

 

 

 

Item 8.01 Other Events.

 

Zion Oil and Gas, Inc., a Delaware corporation, which has an active petroleum exploration license onshore Israel on their 99,000-acre Megiddo-Jezreel license area announces that it has completed the drilling of their Megiddo-Jezreel #2 (MJ02) well to a total depth of 5,531 meters (18,141 feet) with a six-inch (6”) open hole at that depth. The primary zone of interest contains encouraging shows of hydrocarbons.

 

A full set of detailed and comprehensive tests including neutron-density, sonic, gamma, and resistivity logs, paired with well testing, will commence during the coming weeks. Based on these logs and analysis, additional zones of interest may be identified and tested. All testing equipment and personnel are in Israel, and Zion is assembling the required equipment at the well site for the comprehensive testing.

 

Item 9.01  Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit 99.1 – Press release dated November 23, 2021
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

1

 

 

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: November 23, 2021  
     
Zion Oil and Gas, Inc.  
     
By: /s/ Robert Dunn  
  Robert Dunn  
  Chief Executive Officer  

 

 

2

 

 

 

Exhibit 99.1

 

Zion Oil & Gas Completes Drilling Phase of the Megiddo-Jezreel #2 (MJ-02) Well in Israel

 

Zion moves forward with testing based on encouraging shows of hydrocarbons.

 

DALLAS, Texas, and CAESAREA, Israel, November 23, 2021 /PRNewswire/ Zion Oil & Gas, Inc. (OTCQX: ZNOG) announces the completion of the drilling phase for their Megiddo-Jezreel #2 (MJ-02) well.

 

“We are thankful for the successful completion of our drilling phase,” expressed Zion Oil & Gas CEO, Robert Dunn. “We are eager to move forward with testing immediately based on encouraging hydrocarbon shows.”

 

 

Zion Drilling Rig in Israel. Photo taken on November 22, 2021.

 

Zion has completed the drilling of the MJ02 well to a total depth of 5,531 meters (18,141 feet) with a six-inch (6”) open hole at that depth.

 

The primary zone of interest contains encouraging shows of hydrocarbons.

 

 

 

 

A full set of detailed and comprehensive tests including neutron-density, sonic, gamma, and resistivity logs, paired with well testing, will commence during the coming weeks. Based on these logs and analysis, additional zones of interest may be identified and tested.

 

All testing equipment and personnel are in Israel, and Zion is assembling the required equipment at the well site for the comprehensive testing.

 

Zion Oil & Gas, a public company, traded on OTCQX Best Market, explores for oil and gas onshore in Israel on their 99,000-acre Megiddo-Jezreel license area.

 

“The Lord Himself goes before you and will be with you; He will never leave you nor forsake you.
Do not be afraid; do not be discouraged.”

Deuteronomy 31:8

 

“Sing to the Lord, for he has done glorious things; let this be known to all the world. Shout aloud
and sing for joy, people of Zion, for great is the Holy One of Israel among you.”

Isaiah 12:5-6

 

FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations and the results therefrom, including testing and completion; Zion's ability to discover and produce oil in commercial quantities; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts; the timing and completion of the processing, interpretation of the results and plans contingent thereon of the 3-D seismic survey; regulatory approvals needed for the rig’s operation; the effect, if any, of the coronavirus pandemic on the timing of the operation of the well, and liquidity for shareholders on OTCQX 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. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. 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.

 

Contact Info:

Andrew Summey

VP, Marketing and Investor Relations
Zion Oil & Gas, Inc. (OTCQX: ZNOG)
12655 North Central Expressway, Suite 1000, Dallas, TX 75243
Telephone: 888-891-9466
Email: info@zionoil.com
www.zionoil.com