Just like Congressman Joe Wilson yelled at Obama, "You Lie"!!!
You should feel so proud!
By the way Wonder, I agree. Zion has drilled before and will drill again. A lot of people of faith backing this company, including me. So many people praying for Zion, that there is no way this will fail.
Sentiment: Strong Buy
Proverbs 12:23 A prudent man concealeth knowledge: but the heart of fools proclaimeth foolishness.
Proverbs 11:29 He that troubleth his own house shall inherit the wind: and the fool shall be servant to the wise of heart.
Ecclesiastes 10:3 Yea also, when he that is a fool walketh by the way, his wisdom faileth him, and he saith to every one that he is a fool.
Proverbs 28:26 He that trusteth in his own heart is a fool: but whoso walketh wisely, he shall be delivered.
Isaiah 32:6 For the vile person will speak villany, and his heart will work iniquity, to practise hypocrisy, and to utter error against the LORD, to make empty the soul of the hungry, and he will cause the drink of the thirsty to fail.
Proverbs 18:2 A fool hath no delight in understanding, but that his heart may discover itself.
Psalm 53:1 To the chief Musician upon Mahalath, Maschil, A Psalm of David. The fool hath said in his heart, There is no God. Corrupt are they, and have done abominable iniquity: there is none that doeth good.
Israel is treating the Gentile as she is supposed to. Biblical... The Blessings have already started to flow in Israel. No one who has been on this msg board for any decent amount of time can deny that. NBL, GOOXF, ATPG, DELEK, etc... We all KNOW the oil and gas is there. We all know the oil and gas is going to be the hook in Gog, ie Russia's jaw. Those that choose to deny this are making a conscious decision to deny God, ie Christ. They only deceive themselves. Psalm 14:1 To the chief Musician, A Psalm of David. The fool hath said in his heart, There is no God. They are corrupt, they have done abominable works, there is none that doeth good.
The rig with the best chances of being leased to drill to the oil strata is owned by Italy's Saipem.
The partners in the Leviathan gas field - Noble Energy Inc. (NYSE: NBL), Delek Group Ltd. (TASE: DLEKG), and Ratio Oil Exploration (1992) LP (TASE:RATI.L) - are considering leasing a rig to replace the planned drillship, if they decided to go ahead with the drilling a well to the oil-bearing strata. The rig with the best chances of being leased is owned by Italy's Saipem SpA (BIT: SPM).
A Saipem rig is due to arrive in Cypriot waters to drill an exploratory well for ENI SpA (NYSE: E; BIT: ENI) over a four-month period. The characteristics of the well are very similar to those of the well planned for Leviathan, and it would be possible to use geologic data obtained from the first Leviathan well. It is important to emphasize that leasing the rig is subject to a final decision to drill an oil well at all - a decision that still depends on other conditions unrelated to the availability of a rig, the most important of which is regulatory certainty.
The Leviathan oil well was supposed to be drilled in the first quarter of 2014 by the new Atwood Advantage drillship, which Noble Energy leased for three years. However, in response the uncertainty created by the government over the timetable for the Leviathan gas field, Noble Energy has redirected the drillship to its leases in the Gulf of Mexico.
Noble Energy CEO Charles Davidson said that there was no point in sending the drillship to Israel just to drill a well if there was no certainty if additional wells could be drilled. The cost of bringing the drillship to Israel is $50-75 million.
However, energy exploration industry sources say that there is a strong probability that Noble Energy and Delek may decide in the end to drill several wells at Leviathan to the oil bearing strata and for natural gas production. The Cypriot media reports that Noble Energy has not ruled out drilling more exploratory wells in Block 12, following analysis of the 3D seismic survey carried out in Israel's nearby Ruth licenses, where possible gas-bearing structures were found.
Keith Elliott says that the Leviathan gas field will cost $8 billion to develop and is confident of finding oil in the region.
Development of the Leviathan natural gas field will cost $8 billion and production will begin in late 2017 said Noble Energy Inc. (NYSE: NBL) EVP Eastern Mediterranean Keith Elliott at the "Globes" 2013 Israel Business Conference. "Leviathan is our next major project in Israel."
Elliott continued, "Leviathan will be developed in stages, a domestic component and an export component. The expected cost of developing the field is $8 billion, and we'll start production in late 2017, a year behind our initial estimate. The reasons for this are known, such as Israel's export policy. We need an environment that supports investment. We intend to develop Leviathan as fast as we can, and we're confident that the challenges will be solved. We're committed to working with our Israeli partners and the Israeli government."
Commenting on the potential of oil at Leviathan, Elliott said, "We've been working in the Mediterranean since 1998, and we have an ongoing work plan between Israel and Cyprus. We think that there is a strong probability of an oil discovery in this region."
As for the Tamar gas field, Elliott said, "The Tamar discovery should generate more than $30 billion for the Israeli economy. Tamar's performance has been outstanding. Within three days of the start of operations in March, we reached the field's full output. Noble Energy considers Tamar as its most important investment in Israel; what we owe Israel… We're expanding Tamar for the next stage, a compressor at Ashdod. A project like Tamar is technically complex, and there are challenges, such as bringing the gas ashore, government intervention in our sale contracts, and so on."
Elliott added, "We're continuing to drill and explore in Cyprus. We've completed the assessment for Block 12. We're planning its development. Finally, I wish to say that our goal is to supply energy to the world and improve people's lives. We believe that there is great potential in the Levant basin."
DALLAS and CAESAREA, Israel, Nov. 25, 2013 (GLOBE NEWSWIRE) -- Zion Oil & Gas, Inc. (ZN), a Delaware corporation that explores for oil and gas onshore in Israel, announced today that it has extended the expiration date for the Unit program under its Dividend Reinvestment and Common Stock Purchase Plan ("DSPP" or the "Plan") to Friday February 28, 2014. Units may be purchased under the DSPP at any time prior to 5:00 p.m. Eastern Daylight time on February 28, 2014.
Thus, the Unit Option Termination Date will be February 28, 2014, instead of November 29, 2013. The Warrant Exercisable Date will be on the 31st day after the Unit Option Termination Date, or March 31, 2014. The warrants under the Unit program are exercisable at any time after March 31, 2014 and prior to 5:00 p.m. Eastern Daylight time on March 31, 2019.
We have successfully implemented an electronic enrollment procedure with the Telecheck Internet Check Acceptance service as an alternative payment method. In addition to the enrollment procedures specified in the Original Prospectus Supplement, current stockholders and prospective investors may enroll in the Plan by the procedures that allow for an acceptance of an electronic signature and date to the Plan Enrollment Form and a secure internet check acceptance by First Data/Citibank Merchant Services as coordinated with the Plan Agent.
Zion's common stock trades on the NASDAQ Global Market under the symbol "ZN" and Zion's warrants are expected to trade under the reserved symbol "ZNWOW".
This announcement is neither an offer nor a solicitation of an offer. The securities are offered by prospectus only, and only within the States and other jurisdictions in which the securities may be sold, and this announcement is neither an offer to sell nor a solicitation of any offer to buy in any State or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities of any such state or jurisdiction. The DSPP was filed by Prospectus Supplement (File No. 333-174266).
FORWARD LOOKING STATEMENTS: Statements in this communication that are not historical fact, including statements regarding Zion's planned operations and plans contingent thereon are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.
Israel and the US today completed a successful intercept trial of the David's Sling short range ballistic missile interceptor.
The Israel Missile Defense Organization and the US Missile Defense Agency (MDA) today completed a successful intercept test of the David's Sling short range ballistic missile interceptor. This was David's Sling second intercept test of its Stunner interceptor, and was conducted at a test range in southern Israel.
The target missile was launched at 7:30 am, the multi-mission radar successfully detected and tracked the target and transferred target flight information to the battle management control system. The Stunner interceptor successfully performed its planned trajectory and destroyed the target missile.
David's Sling is designed as an additional layer of defense against ballistic missiles, to add interception opportunities to the joint US-Israel Arrow anti-ballistic missile system and to improve Israel's active defense architecture against missile threats. The successful test is a major milestone in the development of the David's Sling and provides confidence in future Israeli capabilities to defeat the developing ballistic missile threat.
Rafael Advanced Defense Systems Ltd. is the chief contractor for David's Sling together with Raytheon Company (NYSE: RTN). The radar system is being developed by Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) unit Elta Group, and the Golden Almond battle management control system is being developed by Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) unit Elisra.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Chief Executive Officer
The Board of Zion Oil & Gas, Inc. (the Company") appointed on November 13, 2013 Mr. John M. Brown to serve as the Chief Executive Officer, effective January 1, 2014, and to continue serving as the Executive Chairman of the Company
. Previously, the Board appointed, effective October 18, 2012, John Brown, age 72, as Interim Chief Executive Officer. Mr. Brown is the founder of Zion and has been a director and Chairman of the Board of Directors of Zion since its organization in April 2000. He also served as the Company's Chief Executive Officer until September 2004 and as President until October 2001. Prior to founding the Company, Mr. Brown had been actively pursuing a license for oil and gas exploration in Israel for many years. His efforts led to our obtaining, in May 2000, the Ma'anit License in the Joseph Project, the precursor to the Joseph License. Mr. Brown holds a BBA degree from Fullerton College.
The Company and John M. Brown have entered into an employment agreement due to Mr. Brown's appointment as Chief Executive Officer to be effective January 1, 2014, and his continuation as serving as the Executive Chairman. The employment agreement, which was due to Mr. Brown's appointment as Chief Executive Officer effective January 1, 2014 and his continuation as the Executive Chairman for the Company, was approved by the Compensation Committee of the Company's Board of Directors. Under the agreement, Mr. Brown will be paid an annual salary of $231,000, subject to annual review and adjustments. By its terms, the agreement provides for an initial term commencing January 1, 2014 and ending December 31, 2016. After expiration of the initial term, the agreement automatically renews for successive two year terms, unless the Company or Employee indicates in writing, more than 90 days prior to the termination of the initial term or any renewal term that it does not intend to renew the agreement..
The agreement provides that, during each year that the agreement remains in effect, Mr. Brown is entitled to nonqualified stock options to purchase up to 25,000 shares of Common Stock at a per share exercise price of $0.01 during the Initial Term with 5,000 shares vesting at the end of each 90 day period commencing March 31, 2014. Also, Mr. Brown will receive an annual bonus of $30,000.
The Employee may terminate this agreement upon 60 business days prior written notice given by the Employee to the Company and the Company shall pay all bonuses and other benefits earned or accrued up to the termination date. If during the initial term the Company were to terminate the agreement for any reason other than "Just Cause" (as customarily defined), then the Company is to pay to Mr. Brown the base salary for the longer of the remaining period of the Initial Term or 12 months, as well as all benefits earned and accrued through such date. If the Company were to terminate the agreement during a renewal term, the Company shall pay the Employee an amount equal to the base salary for a period of 12 months, as well as all benefits earned and accrued through such date. The employment agreement provides for customary protections of the Company's confidential information and intellectual property.
No family relationship exists between Mr. Brown and any director or executive officer of the Company.