Zion Oil & Gas and Aladdin Middle East Intend to Sign Drilling Contract in September...

Zion Oil & Gas and Aladdin Middle East Intend to Sign Drilling Contract in September 2008

CAESAREA, Israel--(Business Wire)--
Zion Oil & Gas, Inc. (Amex: ZN) of Dallas, Texas and Caesarea,
Israel announced today that it and Aladdin Middle East ("AME") intend
to enter into a drilling contract by September 12, 2008. The Chief
Executive Officer, Richard Rinberg, and the President and Chief
Operating Officer of Zion, Glen Perry, are scheduled to visit AME's
offices in Ankara, Turkey, in order to sign a drilling contract with
AME. It is 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.

Zion Oil & Gas, a Delaware corporation, explores for oil and gas
in Israel in areas located onshore between Tel-Aviv and Haifa. It
currently holds two petroleum exploration licenses, the Joseph and
Asher-Menashe Licenses, between Netanya on the south and Haifa on the
north covering a total of approximately 162,000 acres.

AME is an independent oil and gas exploration and production
company, incorporated in Delaware in 1962, with its head office in
Wichita, Kansas. AME has drilled more than 130 exploration and
development wells in Turkey and Egypt for major oil companies,
including Exxon, Mobil, Wintershall AG, MOL, Placid Oil, Neste Oy,
Burren Energy Inc. and Edison International spa. Its rig inventory
includes 11 drilling and workover rigs.

FORWARD-LOOKING STATEMENTS: Statements in this press release that
are not historical fact, including statements relating to Zion's entry
into a drilling contract with AME and the terms thereof and the
importation of a rig and crews into Israel to drill Zion's planned
wells, are forward-looking statements as defined in the "Safe Harbor"
provision 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 the
Prospectus 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. Accordingly, Zion can
give no assurance that the expectations reflected in these statements
will prove to be correct. Zion assumes no responsibility to update
these statements.

Zion Oil & Gas, Inc.
Ashley Chatman, 214-221-4610
dallas@zionoil.com

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