Zion Oil & Gas, Inc. (Zion Oil) is an oil and gas exploration-stage company. The Company holds two exclusive exploration licenses covering approximately 162,100 acres onshore in the State of Israel between Netanya in the south and Haifa in the north. One license, named the Asher-Menashe License, covers an area of 78,824 acres located on the Israeli coastal plain and the Mt. Carmel range between Caesarea in the south and Haifa in the north. The second license, named the Joseph License, covers an area of 83,272 acres located on the Israeli coastal plain south of the Asher-Menashe License between Caesarea in the north and Netanya in the south. In January 2008, the Company completed the acquisition of approximately 52.5 kilometers of seismic lines in the Ramot Menashe and Nahal Me’arot areas within the Asher License area.