DALLAS and CAESAREA, Israel, April 18, 2013 (GLOBE NEWSWIRE) -- Zion Oil & Gas, Inc. ("the Company or "Zion") (Nasdaq:ZN) announced today that, on April 16, 2013, Zion submitted to Israel's Petroleum Commissioner and other Ministry officials an application seeking a Petroleum Exploration License in the Megiddo-Jezreel Valley area, onshore Israel, covering an area of approximately 98,000 acres. As proposed, the Megiddo-Jezreel Valley license area boundary is adjacent to and westward of Zion's existing Jordan Valley License No. 393, which covers approximately 56,000 acres. If granted, the new Megiddo-Jezreel License would likely be for an initial three-year term with options to extend the license annually up to seven years total.
Zion Applies For New Exploration License In Megiddo-Jezreel Valley Area, Israel
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