Zion Oil & Gas Inc (ZNOG)

[Djbradles]

Here’s the transcript of the approval for the 8 month extension of which we are currently in.
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To:
Mr. Jeffrey Moskowitz
Managing Director Zion Oil & Gas Inc.
Industrial Park Caesarea

Re: Approval Extension License New Megiddo 428
Reference: Your request from 17 November 2021 for an Extension

After consultation with the Advisory Council pursuant to the Petroleum Law and in accordance with the reasoning set forth in your referenced letter I hereby approve the extension of the “New Megiddo” / 428 license to August 1, 2022 for the purpose only of completing the activities regarding MJ2 drilling and in accordance with the schedule as set forth in the above mentioned request .

Another application for an extension shall be considered if and inasmuch as it shall be proven that you have encountered extraordinary circumstances and after consultation with the Advisory Council pursuant to the Petroleum Law.

Sincerely,

Chen Bar- Yoseph,
Substitute Petroleum Commissioner.

CC.
Mr. Lior Shilat Managing Director Ministry of Energy
Members of the Professional Staff, Natural Resources Authority, Ministry of Energy
Mr. Elad Golan, Head of Regulatory Section, Ministry of Energy
Advocate Yonit Vannu Shrem Legal Department, Ministry of Energy

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The phrase “extraordinary circumstances” is important to note. I expect a license announcement only, coupled with the 10Q to follow a week or so later.