In Israel: Zion Oil & Gas Reaches First Casing Point at a Depth of ~1,950 feet

Update of ongoing drilling operations with Zion’s Megiddo-Jezreel #1 well

DALLAS and CAESAREA, Israel, June 19, 2017 /PRNewswire/ — Zion Oil & Gas, Inc. (NASDAQ: ZN) continues active drilling operations at a depth of 2,000 feet, as it continues to drill to a proposed total depth of approximately 15,000 ft.

Zion’s President and COO, Dustin Guinn, stated, “We are pleased to announce that we have reached an early milestone in the drilling of the MJ#1 well. We are encouraged with the operational results to date and continue to be satisfied with the performance of the Zion staff and service providers with respect to their adherence to our strict safety expectations.”

Zion continues to allow interested investors to participate in its $250 Unit program through July 12, 2017. To learn more about this program, visit Zion’s information on the Direct Stock Purchase Plan (DSPP) – www.zionoil.com/dspp

Zion Oil & Gas explores for oil and gas onshore in Israel and its operations are focused on the Megiddo-Jezreel License (approximately 99,000 acres) south and west of the Sea of Galilee.