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DALLAS and CAESAREA, Israel, Nov. 30, 2010 (GLOBE NEWSWIRE) -- Zion Oil & Gas, Inc. (Nasdaq:ZN) announced today that Martin M. Van Brauman has been appointed Secretary and Treasurer of the Company. Mr. Van Brauman served as Zion's Chief Financial Officer from July 2007 to June 2009 and also as a director from August 2008 to June 2009.
Mr. Van Brauman holds a B.E. degree from Vanderbilt University, a Doctor of Jurisprudence degree from St. Mary's University and an M.B.A. (Beta Gamma Sigma) and LL.M. (Tax Law), from Southern Methodist University and has over 25 years of experience in corporate tax and accounting analysis. Mr. Van Brauman, Board Certified in Tax Law by the Texas Board of Legal Specialization, spent 12 years as a Senior Attorney (International Specialist and Petroleum Industry Specialist) with the Office of Chief Counsel, IRS, providing legal support for complex issues concerning major U.S. oil companies and the preparation of requests for Technical Advice Memoranda for the Petroleum Industry Group, following which he spent three years as a tax consultant with the global accounting firms of Deloitte & Touche and Grant Thornton and then in private practice with over three years as a member in the law firm of Gibson, Wiley, Cho & Van Brauman, PLLC.
Zion's Chief Executive Officer Richard Rinberg said today, "I am very pleased to have Martin Van Brauman assume the responsibilities as Zion's Secretary and Treasurer. As Zion continues to develop, Martin's expertise on technical issues, his prolonged commitment, knowledge of our business and dedicated service to Zion made him an ideal choice for the positions of Secretary and Treasurer."
With regard to drilling operations at the Ma'anit-Joseph #3 well onshore Northern Israel, we have reached a depth of over 10,000 feet (3,048 meters) and drilling continues. That is over half way to our primary target (of Permian age lithology) at a depth of approximately 19,357 feet (5,900 meters) and closing in on our secondary target (of Triassic age lithology) expected below approximately 10,827 feet (3,300 meters).