Zion Oil & Gas Extends Unit Offering

Zion Oil & Gas Extends Unit Offering

DALLAS and CAESAREA, Israel, Nov. 25, 2013 (GLOBE NEWSWIRE) -- Zion Oil & Gas,
Inc. (Nasdaq:ZN), a Delaware corporation that explores for oil and gas onshore
in Israel, announced today that it has extended the expiration date for the
Unit program under its Dividend Reinvestment and Common Stock Purchase Plan
("DSPP" or the "Plan") to Friday February 28, 2014. Units may be purchased
under the DSPP at any time prior to 5:00 p.m. Eastern Daylight time on
February 28, 2014.

Thus, the Unit Option Termination Date will be February 28, 2014, instead of
November 29, 2013. The Warrant Exercisable Date will be on the 31^st day after
the Unit Option Termination Date, or March 31, 2014.The warrants under the
Unit program are exercisable at any time after March 31, 2014 and prior to
5:00 p.m. Eastern Daylight time on March 31, 2019.

We have successfully implemented an electronic enrollment procedure with the
Telecheck Internet Check Acceptance service as an alternative payment method.
In addition to the enrollment procedures specified in the Original Prospectus
Supplement, current stockholders and prospective investors may enroll in the
Plan by the procedures that allow for an acceptance of an electronic signature
and date to the Plan Enrollment Form and a secure internet check acceptance by
First Data/Citibank Merchant Services as coordinated with the Plan Agent.

Zion's common stock trades on the NASDAQ Global Market under the symbol "ZN"
and Zion's warrants are expected to trade under the reserved symbol "ZNWOW".

This announcement is neither an offer nor a solicitation of an offer.The
securities are offered by prospectus only, and only within the States and
other jurisdictions in which the securities may be sold, and this announcement
is neither an offer to sell nor a solicitation of any offer to buy in any
State or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities of
any such state or jurisdiction. The DSPP was filed by Prospectus Supplement
(File No. 333-174266).

FORWARD LOOKING STATEMENTS: Statements in this communication that are not
historical fact, including statements regarding Zion's planned operations and
plans contingent thereon 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. 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.

NOTICE

Zion Oil & Gas, Inc. filed a Prospectus Supplement on March 27, 2013 to its
Prospectus dated May 26, 2011 with the SEC for the Dividend Reinvestment and
Common Stock Purchase Plan to which this communication relates. Before you
invest, you should read the prospectus in that registration statement and
other documents the issuer has filed with the SEC for more complete
information about Zion Oil & Gas and its offering. You may get these documents
for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively,
Zion Oil & Gas will send you the prospectus if you request it by calling toll
free 1-888-TX1-ZION (1-888-891-9466).

Zion's homepage may be found at: www.zionoil.com

CONTACT: Zion Oil & Gas, Inc.
         Brittany Martin, 214-221-4610
         dallas@zionoil.com

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