Item 8.01 Other Events

Zion Oil & Gas, Inc. ("Zion" or the "Company") and the drilling contractor, with whom in June 2008 Zion entered into a Protocol relating to the transportation of a rig to Israel in order to conduct the drilling contemplated by the Company's business plan, intend to sign a drilling contract by September 12, 2008. It now anticipated that the 2,000 horsepower rig, to be used to drill Zion's planned Ma'anit-Rehoboth #2 well, will arrive in Israel in November 2008. No assurance can, however, be provided that the drilling contract as contemplated in the Protocol or as otherwise revised by the parties in the course of continuing discussions between them will in fact be executed. Even if the Company and the Contractor execute the drilling contract, the contractor will need to obtain certain permits and requisite authorization before the rig can be brought into Israel.

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