Our rig crew arrived on January 3 to begin a new phase of operations at both MJ-01 and MJ-02 in Israel. Over the past week, the team has focused on routine rig repair and maintenance including a much-needed upgrade to the generator system, ensuring reliable power for the drilling ahead.

Once the rig is serviced and tested, our crew will re-enter MJ-01, complete cleanup of the wellbore, install a seal below the water aquifer zone, and re-establish the mandated water monitoring well as required by the Ministry of Energy and Ministry of Water. Following this work, we will rig down and conduct the mandatory five-year recertification and inspection process to ensure full compliance with IADC and national standards before transitioning to the next stage.

After inspection, we will rig up over MJ-02, plug and abandon the lower sections of that wellbore, set the direction, and begin the planned horizontal drilling operation into the target reservoir zone.

As we begin 2026, we are thankful for the progress to date and for the faith and encouragement of our shareholders. With all our plans, we keep in mind Isaiah 48:17:

“This is what the Lord says – your Redeemer, the Holy One of Israel: ‘I am the Lord your God, who teaches you what is best for you, who directs you in the way you should go.’”

FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations or any disruptions thereto and the results therefrom, including timely testing and completion; timely availability, shipment, and receipt of necessary equipment and rig crews; Zion’s ability to discover and produce oil and/or gas in commercial quantities; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts including timely resolution of supply and operational disruptions; regulatory approvals, including necessary and timely work visas for crews, needed for exploration within our license and the rig’s operation; the effect of the uncertainties and potential delays associated with wars and skirmishes between Israel, Hamas, and other organizations and/or countries, and liquidity for shareholders on the OTC market are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties, and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

Since our July update, we have advanced planning for the next phase of operations in Israel. Our technical objective remains unchanged: sidetrack the well and drill a lateral section into the identified target interval to enable multi-stage stimulation across multiple zones.The principal operational refinement is to begin this campaign from MJ-02, located on the same pad as MJ-01, just 7.5 meters away on surface and approximately 300 meters offset at depth. Both wellbores access the same target zone. Starting from MJ-02 allows us to begin in larger casing, use larger-diameter tools, and execute a two-stage drilling plan—providing greater flexibility to manage downhole contingencies and improving our chance of operational success.Logistics remain challenging in Israel’s onshore market, where most services and equipment must be imported with added time and cost. Despite providers being heavily contracted, we have secured key services such as drilling, mud, wireline, and cementing. Recent visa reforms and progress with ministry approvals are also positive steps forward.We are preparing to mobilize the rig crew in January, complete upgrades and site work in February, and begin drilling in March. Leveraging the existing wellbore gives us a strong head start, and while this type of lateral drilling is new to onshore Israel, our team is well-positioned to execute it successfully.We appreciate your continued patience, prayers, and support for Israel and for our work. Thank you for standing with us. We remain focused, diligent, and encouraged by the doors that continue to open.FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations or any disruptions thereto and the results therefrom, including timely testing and completion; timely availability, shipment, and receipt of necessary equipment and rig crews; Zion’s ability to discover and produce oil and/or gas in commercial quantities; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts including timely resolution of supply and operational disruptions; regulatory approvals, including necessary and timely work visas for crews, needed for exploration within our license and the rig’s operation; the effect of the uncertainties and potential delays associated with wars and skirmishes between Israel, Hamas, and other organizations and/or countries, and liquidity for shareholders on the OTC market are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties, and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

Discussion based on the update on 7-15-2025FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations or any disruptions thereto and the results therefrom, including timely testing and completion; timely availability, shipment, and receipt of necessary equipment and rig crews; Zion’s ability to discover and produce oil and/or gas in commercial quantities; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts including timely resolution of supply and operational disruptions; regulatory approvals, including necessary and timely work visas for crews, needed for exploration within our license and the rig’s operation; the effect of the uncertainties and potential delays associated with wars and skirmishes between Israel, Hamas, and other organizations and/or countries, and liquidity for shareholders on the OTC market are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties, and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

Conversation after Press Release with Robert Dunn (CEO), Jeff Moskowitz (Senior VP & Managing Director of Israel Branch), & Monty Kness (VP Operations).

⁠Press Release Here⁠

Hosted by Zion VP of Marketing and Investor Relations, Andrew Summey, this engaging podcast offers valuable insights into the company's mission and commitment to responsible, efficient exploration activities. Zion Oil & Gas, a public company traded on OTC (ZNOG), explores for oil and gas onshore in Israel on their 75,000-acre Megiddo Valleys license area.

Website: ⁠⁠⁠www.zionoil.com⁠⁠

FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations and the results therefrom, including testing and completion; Zion's ability to discover and produce oil in commercial quantities; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts; regulatory approvals needed for exploration within our license and the rig’s operation; the effect, if any, of the coronavirus pandemic on the timing of the operation of the well, and liquidity for shareholders on the OTC market are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties, and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

Senior VP & Managing Director of Zion Oil & Gas Israel Branch, Jeff Mozkowitz, discusses the ongoing conflict in Israel and it's effects.

Hosted by Zion VP of Marketing and Investor Relations, Andrew Summey, this engaging podcast offers valuable insights into the company's mission and commitment to responsible, efficient exploration activities. Zion Oil & Gas, a public company traded on OTCQX (ZNOG), explores for oil and gas onshore in Israel on their 75,000-acre Megiddo Valleys license area.

Website: ⁠⁠www.zionoil.com⁠

FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations and the results therefrom, including testing and completion; Zion's ability to discover and produce oil in commercial quantities; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts; regulatory approvals needed for exploration within our license and the rig’s operation; the effect, if any, of the coronavirus pandemic on the timing of the operation of the well, and liquidity for shareholders on the OTC market are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties, and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

Join us in this podcast episode for an in-depth discussion on the recent progress made by Zion Oil & Gas in the Megiddo-Jezreel Valley. Featuring Zion Oil & Gas CEO, Robert Dunn, Head of Operations Monty Kness, Head of Israel Office and Senior VP Jeff Moskowitz, and Lead Consultant for Geoscience Dr. Lee Russell, this conversation dives into the challenges faced, the steps taken to achieve the exploration license approval, and the future plans for the project.

Hosted by Zion VP of Marketing and Investor Relations, Andrew Summey, this engaging podcast offers valuable insights into the company's mission and commitment to responsible, efficient exploration activities. Zion Oil & Gas, a public company traded on OTCQX (ZNOG), explores for oil and gas onshore in Israel on their 99,000-acre Megiddo-Jezreel license area.

Website: www.zionoil.com

FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations and the results therefrom, including testing and completion; Zion's ability to discover and produce oil in commercial quantities; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts; regulatory approvals needed for the rig’s operation; the effect, if any, of the coronavirus pandemic on the timing of the operation of the well, and liquidity for shareholders on OTCQX are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties, and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

This podcast includes audio from the informal portion of the 2021 Annual Meeting of Stockholders held on June 9, 2021. It includes a brief update by Zion Oil & Gas CEO, Robert Dunn, and Q & A portion from shareholders.

This podcast is hosted by Zion VP of Marketing and Investor Relations, Andrew Summey.  Zion Oil & Gas, a public company traded on OTCQX (ZNOG), explores for oil and gas onshore in Israel on their 99,000-acre Megiddo-Jezreel license area.

Website: www.zionoil.com

FORWARD-LOOKING STATEMENT: This podcast contains forward-looking statements. Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts; the timing and completion of the processing, interpretation of the results and plans contingent thereon off the 3-D seismic survey; regulatory approvals needed for the rig’s operation; the effect, if any, of the coronavirus pandemic on the timing of the operation of the well, and liquidity for shareholders on OTCQX are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties, and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

Interview with Investor Relations Specialist, Ragan Ewing, on investing in the Megiddo-Jezreel Unit Program. 

Zion's current Unit Program is $250 per Unit. For each Unit purchase, investors get $250 in Zion stock (at the high-low average of the day) PLUS 25 $1 Warrants.

This podcast explains in simple terms what this means and details on how you may invest online or via mail. Additionally, Ragan discusses how you may get all your additional questions answered.

You may learn more about investing: www.zionoil.com/dspp

FORWARD-LOOKING STATEMENTS: Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts; the timing and completion of the processing, interpretation of the results and plans contingent thereon off the 3-D seismic survey; regulatory approvals needed for the rig’s operation; the effect, if any, of the coronavirus pandemic on the timing of the operation of the well, and liquidity for shareholders on OTCQX are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties, and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.

Interview with Rob Dunn, CEO, Jeff Moskowitz, VP Israel Branch Managing Director, and Monty Kness, VP of Operations on the latest press release from February 1, 2021. Further color and discussion on the drilling operations, the current section of the well, and the ongoing challenges of the covid-19 pandemic.

References the latest Press Release.

FORWARD-LOOKING STATEMENT: This podcast contains forward-looking statements. Statements in this communication that are not historical fact, including, but not limited to, statements regarding Zion’s operations; Zion’s ability to continue as a going concern; operational risks in ongoing exploration efforts; the timing and completion of the processing, interpretation of the results and plans contingent thereon off the 3-D seismic survey; regulatory approvals needed for the rig’s operation; the effect, if any, of the coronavirus pandemic on the timing of the operation of the well, and liquidity for shareholders on OTCQX are forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties, and other unpredictable factors, many of which are described in Zion’s periodic reports filed with the SEC and are beyond Zion’s control. These risks could cause Zion’s actual performance to differ materially from the results predicted by these forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Zion’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Zion’s filings with the SEC. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.