Zion Oil & Gas files new exploration license in Israel, reports MJ-02 well completion progress

ZION OIL & GAS INC

Filed new exploration license in Megiddo-Jezreel Valley on same 99,000 acres as prior licenses.
Submitted petition seeking three-year term for existing #428 exploration license under Israel's petroleum law.
MJ-02 well completed through casing, liner, and cementing; well stimulation and DST testing ongoing.
All well-testing equipment is at Haifa port or on location in Israel despite global logistical backlog.

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