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ZN > SEC Filings for ZN > Form 8-K on 9-Jul-2013All Recent SEC Filings

Show all filings for ZION OIL & GAS INC

Form 8-K for ZION OIL & GAS INC


9-Jul-2013

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


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)

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