Zion Oil & Gas files amended license application with Israel Ministry; current license expires Feb 1, 2023

ZION OIL & GAS INC

Filed amended application on Jan 24, 2023 for new exploratory license covering same 99,000-acre Megiddo-Jezreel area as License No. 428, which expires Feb 1, 2023.
Original application filed May 2022; review delayed due to Nov 2022 Israeli election and transition to new Minister of Energy (effective Jan 1, 2023).
Amended workplan addresses planned re-entry of MJ-01 well; Zion believes preliminary requirements met but no assurances of approval.
In interim, company will keep I-35 drilling rig on pad for maintenance and re-entry engineering/design.

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