Zion Oil Stock Price, News & Analysis

Zion Oil & Gas, Inc. (ZNOG) is a U.S. public company whose shares trade on the OTC market under the symbol ZNOG. According to company disclosures, Zion Oil & Gas focuses on exploring for oil and gas onshore in Israel. Its activities center on exploration licenses in the Megiddo and Jezreel Valley region, where it works to identify and evaluate potential hydrocarbon-bearing zones.

The company’s primary exploration focus is the Megiddo Valleys License 434, an onshore exploration license in Israel described by Zion as covering approximately 75,000 acres. Under this license, Zion is engaged in work on the Megiddo-Jezreel #1 (MJ-01) well, including re-entry, recompletion, and testing operations. Company news reports describe perforation and stimulation operations at MJ-01, flowback testing, and efforts to evaluate reservoir characteristics and production potential.

In earlier periods, Zion Oil & Gas reported activity on other exploration licenses in the same general area, including the Megiddo-Jezreel license area and License #428, and the drilling of the Megiddo-Jezreel #2 (MJ-02) well. The company has stated that it explores for oil and gas onshore in Israel on license areas measured in tens of thousands of acres. These operations have included drilling to significant depths, running logging programs, and performing well testing and stimulation work.

Operational approach and assets

Company news indicates that Zion Oil & Gas owns its drilling rig and has used it in Israel for its Megiddo-Jezreel wells. The company has described phases of work such as drilling, casing, cementing, recompletion, and stimulation, as well as flowback and volumetric analysis to evaluate reservoir characteristics. Zion’s disclosures reference the use of stimulation methods and technologies aimed at potentially unlocking hydrocarbon flows in previously identified and newly identified zones of interest.

Zion has also highlighted that it has conducted 3D seismic testing in Israel and that it coordinates with multiple service providers and contractors, including international vendors, to support its operations. Its updates describe logistical efforts to move specialized equipment into Israel and to maintain security and site preparedness at its locations.

Regulatory and licensing environment

Zion Oil & Gas operates within Israel’s onshore petroleum licensing framework. Company announcements describe the award of the Megiddo Valleys License 434 by the State of Israel and note that the license is an onshore exploration license that allows ongoing exploration activities. The company has also reported filing for new exploration licenses in the Megiddo-Jezreel Valley and seeking administrative approvals for license terms under Israel’s petroleum law.

News releases describe interaction with the Israeli Ministry of Energy and a Supervisory Committee that reviews and accepts work plans. Zion reports that the Supervisory Committee, which includes representatives from various ministries and local councils, has accepted its work plan for the MJ-01 project. This acceptance allows Zion to sign agreements with service providers and proceed with its planned re-entry, testing, and recompletion activities under the approved framework.

Corporate and legal structure

SEC filings identify Zion Oil & Gas, Inc. as a corporation with a Commission File Number 001-33228 and a federal employer identification number. Filings reference the company as an oil and gas entity and provide information on changes to its bylaws and warrant agreements. An 8-K filing dated December 1, 2025 describes amendments to the company’s bylaws related to an exclusive forum provision, a waiver of jury trial for certain internal entity claims under Texas law, and a mandatory arbitration provision for certain shareholder claims under federal and state securities laws.

Another 8-K filing dated November 17, 2025 describes an amendment to a Warrant Agent Agreement with Equiniti Trust Company, LLC. The filing states that the company extended the duration of a particular warrant (ZNWAA, trading under the symbol ZNOGW) by five years, changing its expiration date from January 31, 2026 to January 31, 2031, pursuant to the terms of the warrant agreement.

An 8-K filing dated January 12, 2026 reports the appointment of a director to fill a vacancy on the Board of Directors. The filing provides background on the appointee’s prior roles with the company and notes that he will be compensated as a non-independent director and will continue under his existing compensation package as General Counsel.

Capital programs and investor offerings

In multiple news releases, Zion Oil & Gas describes Unit Programs that offer investors a combination of common stock and warrants. These programs are presented as a way for investors to participate in the company’s exploration efforts in Israel. The company explains that each unit is priced at a stated dollar amount and provides stock based on the high-low average sale price on the OTC market for ZNOG on the day of purchase, along with warrants exercisable at a specified price for a defined period. Some programs also describe additional warrants for participants in an Automatic Monthly Investment (AMI) plan.

The company has also referred to a Direct Stock Purchase Program (DSPP), through which investors can purchase units and participate in these offerings. Zion’s communications emphasize that these programs are tied to funding its exploration and recompletion operations in Israel.

Geographic focus and sector classification

Across its public communications, Zion Oil & Gas consistently describes itself as a U.S. public company with operational activities in Israel. It reports offices in Dallas and references operations and staff in both Dallas and Caesarea, Israel. The company’s industry classification is Support Activities for Oil and Gas Operations within the broader sector of Mining, Quarrying, and Oil and Gas Extraction. Its described activities—drilling, well testing, stimulation, and related exploration work—align with this classification.

Religious and mission-oriented framing

Many of Zion’s news releases include biblical quotations and references to faith, describing its mission in terms of providing oil and gas for Israel’s energy needs and referring to guidance and provision from God. Company leaders, including its founder and executives, are quoted expressing gratitude to shareholders and supporters and framing operational milestones as part of a broader mission related to Israel’s energy landscape.

Status and trading venue

Zion Oil & Gas is described in its news releases as a U.S. public company traded on the OTC market, including references to the OTCQX Best Market and OTCQB, under the ticker symbol ZNOG. The company’s communications do not indicate a delisting from over-the-counter trading, and recent SEC filings and news releases continue to reference ZNOG as an active trading symbol.

Key activities and focus areas

• Onshore exploration in Israel: Exploration and evaluation of potential oil and gas resources in the Megiddo and Jezreel Valley region under Israeli exploration licenses.
• Megiddo-Jezreel wells: Drilling, recompletion, and testing of wells such as MJ-01 and MJ-02, including perforation, stimulation, and flowback operations.
• Regulatory engagement: Obtaining and maintaining exploration licenses, securing work plan approvals, and working with Israeli regulatory bodies and committees.
• Capital programs: Use of unit programs combining stock and warrants, and a direct stock purchase program, as described in company announcements.
• Corporate governance and legal framework: Amendments to bylaws regarding forum selection, jury trial waivers for certain internal claims, and arbitration provisions; management of warrant agreements and board composition through SEC-reported actions.

Frequently Asked Questions (FAQ)

• What does Zion Oil & Gas, Inc. do?
  
  Zion Oil & Gas, Inc. explores for oil and gas onshore in Israel. The company focuses on exploration licenses in the Megiddo and Jezreel Valley region and undertakes drilling, recompletion, and testing activities on wells in those license areas.
• Where does Zion Oil & Gas operate?
  
  According to its public statements, Zion Oil & Gas conducts onshore oil and gas exploration in Israel, including work under the Megiddo Valleys License 434 and previous licenses in the Megiddo-Jezreel Valley area. The company references operations and personnel in both Dallas and Caesarea, Israel.
• What is the Megiddo Valleys License 434?
  
  The Megiddo Valleys License 434 is an onshore exploration license in Israel that Zion Oil & Gas reports was awarded by the State of Israel. The company describes it as covering approximately 75,000 acres and as the basis for its ongoing exploration and recompletion work on the MJ-01 well.
• What is the MJ-01 well?
  
  The Megiddo-Jezreel #1 (MJ-01) well is a well in Israel on which Zion Oil & Gas is conducting re-entry, recompletion, and testing operations. Company news reports describe perforation and stimulation work, flowback operations, and the observation of gas at the surface as part of efforts to assess the well’s production potential.
• What is the MJ-02 well?
  
  The Megiddo-Jezreel #2 (MJ-02) well is another well in the Megiddo-Jezreel license area. Zion has reported completing the drilling phase of MJ-02 to a specified depth, followed by logging and preparation for testing, as part of its exploration program in Israel.
• How does Zion Oil & Gas raise capital for its projects?
  
  In its announcements, Zion Oil & Gas describes Unit Programs in which investors can purchase units consisting of common stock and warrants. The company also refers to a Direct Stock Purchase Program through which investors can participate in these offerings. These programs are presented as funding sources for its exploration and recompletion activities.
• On which market does ZNOG trade?
  
  Company communications describe Zion Oil & Gas as a U.S. public company traded on the OTC market under the ticker symbol ZNOG, with references to the OTCQX Best Market and OTCQB in different periods.
• What industry is Zion Oil & Gas classified in?
  
  Zion Oil & Gas is classified in the industry of Support Activities for Oil and Gas Operations within the broader sector of Mining, Quarrying, and Oil and Gas Extraction. Its described activities include drilling, well testing, and related exploration work.
• How does Zion interact with Israeli regulators?
  
  According to its news releases, Zion obtains exploration licenses from the State of Israel and submits detailed work plans to the Israeli Ministry of Energy. A Supervisory Committee composed of representatives from various ministries and local councils reviews and accepts these work plans, allowing Zion to proceed with its operations under defined environmental and safety frameworks.
• Has Zion Oil & Gas reported any changes to its bylaws or securities?
  
  Yes. An 8-K filing dated December 1, 2025 describes amendments to the company’s bylaws related to exclusive forum provisions, waivers of jury trial for certain internal entity claims, and mandatory arbitration for certain shareholder claims. Another 8-K dated November 17, 2025 reports an extension of the expiration date of a warrant (ZNWAA, trading under ZNOGW) from January 31, 2026 to January 31, 2031.