Zion Oil & Gas Inc (ZNOG)

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from last 10q,p.9-looks like the survey was planned to take ca 3 months,with this survey starting only a little more than a month after the original intention of aug 1


Zion Oil & Gas, Inc.

Condensed Notes to Financial Statements (Unaudited)

Note 1 - Nature of Operations, Basis of Presentation and Going Concern (cont’d)

On February 28, 2019 Israel’s Petroleum Commissioner officially approved the revised and updated Work Program on the Megiddo-Jezreel License No. 401 as shown below:


Number Activity description Execution by:
1 Submission of seismic survey plan to the Commissioner and execution of an agreement with a contractor to perform 30 April 2019
2 Commence 3D seismic survey in an area of approximately 50 square kilometers 1 August 2019
3 Transfer of field material configuration and processed material to the Ministry pursuant to Ministry guidelines 15 December 2019
4 Submit interpretation report 20 February 2020



On February 24, 2019 Zion submitted a request to the Commissioner to extend the Megiddo-Jezreel License No. 401 up to December 2, 2020.

On February 28, 2019 the Commissioner approved the extension of the Megiddo-Jezreel License No. 401 up to December 2, 2020.

On April 30, 2019 Zion submitted its Application for Extension of Continued Work Program Due Date on the Megiddo-Jezreel License No. 401 . The additional time is necessary for Zion to conduct a 3D survey in an area of approximately 72 square kilometers. This requires, among other things, extensive permitting activities with relevant local landowners, the Israel Land Authority (“ILA”), certain authorities and others throughout the seismic survey area and may not conclude prior to the beginning of the Jewish holidays in October and rainy season. This in turn would result in additional delays, as rain and mud are not conducive to the performance of a seismic survey which includes extensive use of vibrators.

Zion’s proposed new timelines and activity descriptions are shown below:

Number Activity description Execution by:
1 Submission of seismic survey plan to the Commissioner and execution of an agreement with a contractor to perform 30 November 2019
2 Commence 3D seismic survey in an area of approximately 72 square kilometers 1 April 2020
3 Transfer of field material configuration and processed material to the Ministry pursuant to Ministry guidelines 15 August 2020
4 Submit interpretation report 15 November, 2020



On May 1, 2019, Israel’s Petroleum Commissioner granted Zion’s work program report extension.