Zion Oil & Gas Inc (ZNOG)

[KyOil]

Basic questions on S-3 Registration filed today

If those on the board who are more familiar with these filings than I am could help me understand, it would be greatly appreciated.

Questions

1. Is the basic purpose of the filing to increase Zion's dollar amount that can be raised through issuing shares, debt, and warrants?

2. Is the amount currently filed $101M and the additional amount of $300M with this filing brings the total going forward to $401M?

3. No specific offering is made (price and type of security) until a "Supplement" is filed?

4. If Zion chooses to issue 100% shares and 0% debt under this filing, would the total amount of shares issued be limited to BOTH a) $401M, and b) 800M shares as authorized at the annual meeting?

Thanks in advance for any and all insights!