Zion Oil & Gas, Inc. (Amex: ZN), of Dallas, Texas and Caesarea, Israel, released a summary of the current status of its oil and gas exploration related
activities in Israel. The summary, which presents developments that have transpired during the past several months, is set out below and will be posted on Zion's website - www.zionoil.com. The Company intends to update the summary from time to time to reflect new developments as they occur. Zion has named its project to explore for oil and gas in Israel, the "Joseph Project".