Zion Oil & Gas, Inc. (Zion) is a development-stage oil and gas exploration company with operations in Israel. The Company holds one active petroleum exploration license onshore Israel, the Megiddo-Jezreel License (approximately 99,000 acres). The Megiddo-Jezreel License is onshore, south and west of the Sea of Galilee. The Company's Megiddo-Jezreel License (No. 401) has a three-year primary term with the possibility of additional one-year extensions up to a maximum of seven years. As of December 31, 2014, the Company had no revenues from its oil and gas operations.