Zion Oil & Gas Inc (ZNOG)

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<< How are these new shares not tradeable on the OTC or transferrable? >>

"19. Will the Unit that I purchase under the Plan be tradable?

No. The Units are not tradable. The shares of Common Stock and Warrants are being sold as part of a Unit solely for convenience sake and immediately upon purchase the shares of Common Stock and Warrants are separable and may be traded separately."

20. Will the shares of Common Stock and Warrants that I receive from the Units be tradable on the OTCQX or any other exchange or securities market?

Our common stock is currently traded on the OTCQX under the symbol “ZNOG”. The Units are non-transferable and will not be traded.

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The Common Stock and Warrants purchased, as part of a Unit will be held in book-entry form with the Plan Agent, unless a Participant requests delivery of the certificates representing the Common Stock in whole shares with a check representing fractional shares and/or Warrants.