Zion Oil & Gas Formalizes Its Management Team

Five Seasoned Executives to Lead Exploration Effort Targeting World Class Reef

Prospects on 166,000-Acre Area Recently Awarded to Zion in Israel



Oct 29, 2001, 00:00 ET from Zion Oil & Gas, Inc.

    DALLAS, Oct. 29 /PRNewswire/ -- John M. Brown, Founder, Chairman and Chief
 Executive Officer of Zion Oil & Gas, Inc., announced today the election of
 Eugene A. Soltero as President and Chief Operating Officer, Glen H. Perry as
 Executive Vice President, Dr. Eliezer Kashai as Vice President of Exploration,
 Elisha Roih as Vice President of Administration for Israeli Operations, and
 Philip Mandelker as General Counsel.
     Zion Oil & Gas and its predecessor companies have been working in Israel
 since 1986 to acquire petroleum rights from the Israeli government.  In May
 2000 and May 2001, Zion was awarded approximately 166,000 acres of onshore
 petroleum rights, related to which Zion has completed over 250 kilometers of
 seismic line interpretation, reprocessing or new seismic line acquisition.
 According to Mr. Brown, "The preliminary results of our work to date indicate
 a series of Triassic age reefs, the first of which we intend to drill and test
 within the next twelve months.  If successful, we could be looking at several
 trillion cubic feet of gas and several hundred million barrels of petroleum
 liquids.  I am pleased that the financial organization and undertaking of this
 exploration effort will be led by these five experienced petroleum industry
 executives."
     Eugene A. Soltero is an M.I.T. graduate in business and petroleum
 economics who also holds an engineering degree from The Cooper Union.  For the
 past 20 years he has held senior executive positions with small public and
 private oil and gas companies, serving as Chairman and CEO of Cotton Valley
 Resources Corporation, which is now Aspen Group Resources Corporation,
 Chairman and CEO of Aztec Energy Corporation, President and COO of American
 International Petroleum Corporation, and President and CEO of Cimarron
 Resources, Inc.  Early in his career, he was trained at Sinclair Oil
 Corporation in exploration and production management, served as Manager of
 Planning for Texas International Petroleum Corporation, and Petroleum
 Economist for DeGolyer and MacNaughton.  For nine years he was general manager
 of the oil and gas subsidiaries of Moore McCormack Resources.  Mr. Soltero is
 a member of the Society of Petroleum Engineers, and a former director of the
 Independent Petroleum Association of America, the Texas Independent Producers
 and Royalty Owners and the Independent Petroleum Refiners Association of
 America.  Mr. Soltero is a registered professional engineer in the State of
 Texas.
     Glen H. Perry, who holds a Masters Degree in Petroleum Engineering from
 the University of Texas, has been consulting with Zion for the past three
 years.  For the five prior years he worked for National Petroleum Limited,
 serving as Manger of Project Development in the former C.I.S. countries and
 Managing Director of a production enhancement project in the republic of
 Georgia.  Mr. Perry was with Prairie Producing Company for fifteen years,
 starting as a Production Engineer and serving as Chief Engineer, Vice-
 President, and most recently, Senior Vice President, Production and Operations
 when that company was sold in the early 90's to UNOCAL for approximately
 $330 million.  In his capacity, Mr. Perry had the responsibility for design,
 construction and operation of all projects including production facilities,
 pipelines, and plants as well as all oil and gas engineering, drilling,
 production and hydrocarbon marketing functions.  His early training was in
 drilling and production for Exxon Company, USA and Energy Reserves Group.
     Dr. Eliezer Kashai, studied geology in the University of Sciences,
 Budapest, Hungary and holds Masters and Ph.D. degrees in geology from Hebrew
 University.  He is a widely recognized authority on the Triassic formation of
 Israel, with more than fifty years of geological experience in Israel.  For
 almost thirty years he was with Lapidoth Israel Oil Prospectors Company, Ltd.
 and Oil Exploration Investment, Ltd., where he served in progressively
 responsible positions including Deputy Managing Director responsible for all
 that company's exploration efforts.  For the past fifteen years, Dr. Kashai
 has worked as an exploration consultant for various companies including Israel
 National Oil Company, Lapidoth, Naphta Petroleum, ABJAC-Mazal Ltd., Nordan Oil
 and Gas, and Sedot Neft.  Dr. Kashai has served as President of the Israel
 Geological Society and is responsible for five geological publications and
 nearly one hundred unpublished company reports on exploration projects,
 drilling recommendations, subsurface geological analysis and well evaluations
 in Israel.
     Elisha Roih holds a BA degree in Political Science and Oriental Studies
 from Hebrew University and has Continuing Educational course certificates in
 Business Administration, Production Technology and Offshore Operations.  Mr.
 Roih has 40 years experience in senior management positions in the petroleum
 industry of Israel.  Most recently, he served as General Manager of Lapidoth,
 Israel Oil Prospectors Company, Ltd.  Previously his positions included Deputy
 General Manager of the Israel National Oil Company, General Manager of
 Southern Sinai Petroleum, Exploration and Production Project in the Gulf of
 Suez, Operations Manager for Sinai Oil Fields in the Gulf of Suez and various
 management positions with Naphtha - Israel Petroleum Corporation Ltd.
 Mr. Roih has been associated with Zion Oil & Gas as a Senior Consultant since
 1991.
     Philip Mandelker, who holds a Doctor of Jurisprudence degree (1971, cum
 laude) from Columbia University School of Law and currently is of counsel to
 I. Amihud Ben-Porath, Hamou and Company in Tel-Aviv, Israel, serves as General
 Counsel to Zion Oil & Gas.  Mr. Mandelker is admitted to practice in both the
 United States and Israel and has extensive experience with the oil and gas
 exploration industry in both the United States and Israel.  At the Israeli
 Ministry of Finance Mr. Mandelker represented the Israeli Government in
 negotiating the Petroleum Concessions and Production Sharing Agreements in the
 Sinai Peninsula and Gulf of Suez in the mid-70s.  As Deputy and then Acting
 Legal Advisor to the Military Government of the Judea and Samaria Area (1978 -
 1980), he drafted a model oil and gas exploration and production concession
 agreement for use in the Area.  In New York between 1981 and 1993, Mr.
 Mandelker advised oil and gas exploration companies, sponsors and investors on
 the structure of and investment in oil and gas drilling programs and other
 matters relating to oil and gas exploration activities and investment therein.
 From 1992 to 1994, Mr. Mandelker served as an advisory director of Aztec
 Energy Corporation.  He has published and lectured on subjects related to
 investment in oil and gas exploration activities in Israel and in the United
 States.  From 1997 through 1999, Mr. Mandelker was Chief Legal Advisor of the
 United Mizrahi Bank, Ltd., a major Israeli Banking group headquartered in Tel-
 Aviv.
     Zion Oil & Gas is a private U.S. based corporation exploring for oil and
 gas in Israel.  More information is available from the corporate website at
 www.zionoil.org .
 
     The information in this news release includes certain forward-looking
 statements as defined in the "Safe Harbor" provision of the Private Securities
 Litigation Reform Act of 1995.  These statements are based upon assumptions
 that are subject to significant risks and uncertainties.  Although the Company
 believes that the expectations reflected in forward looking statements are
 reasonable, it can give no assurance that the expectations of any of its
 forward-looking statements will prove to be correct.
 
      Contact:  Gene Soltero of Zion Oil & Gas, Inc., +1-214-221-4610.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X82618262
 
 

SOURCE Zion Oil & Gas, Inc.
    DALLAS, Oct. 29 /PRNewswire/ -- John M. Brown, Founder, Chairman and Chief
 Executive Officer of Zion Oil & Gas, Inc., announced today the election of
 Eugene A. Soltero as President and Chief Operating Officer, Glen H. Perry as
 Executive Vice President, Dr. Eliezer Kashai as Vice President of Exploration,
 Elisha Roih as Vice President of Administration for Israeli Operations, and
 Philip Mandelker as General Counsel.
     Zion Oil & Gas and its predecessor companies have been working in Israel
 since 1986 to acquire petroleum rights from the Israeli government.  In May
 2000 and May 2001, Zion was awarded approximately 166,000 acres of onshore
 petroleum rights, related to which Zion has completed over 250 kilometers of
 seismic line interpretation, reprocessing or new seismic line acquisition.
 According to Mr. Brown, "The preliminary results of our work to date indicate
 a series of Triassic age reefs, the first of which we intend to drill and test
 within the next twelve months.  If successful, we could be looking at several
 trillion cubic feet of gas and several hundred million barrels of petroleum
 liquids.  I am pleased that the financial organization and undertaking of this
 exploration effort will be led by these five experienced petroleum industry
 executives."
     Eugene A. Soltero is an M.I.T. graduate in business and petroleum
 economics who also holds an engineering degree from The Cooper Union.  For the
 past 20 years he has held senior executive positions with small public and
 private oil and gas companies, serving as Chairman and CEO of Cotton Valley
 Resources Corporation, which is now Aspen Group Resources Corporation,
 Chairman and CEO of Aztec Energy Corporation, President and COO of American
 International Petroleum Corporation, and President and CEO of Cimarron
 Resources, Inc.  Early in his career, he was trained at Sinclair Oil
 Corporation in exploration and production management, served as Manager of
 Planning for Texas International Petroleum Corporation, and Petroleum
 Economist for DeGolyer and MacNaughton.  For nine years he was general manager
 of the oil and gas subsidiaries of Moore McCormack Resources.  Mr. Soltero is
 a member of the Society of Petroleum Engineers, and a former director of the
 Independent Petroleum Association of America, the Texas Independent Producers
 and Royalty Owners and the Independent Petroleum Refiners Association of
 America.  Mr. Soltero is a registered professional engineer in the State of
 Texas.
     Glen H. Perry, who holds a Masters Degree in Petroleum Engineering from
 the University of Texas, has been consulting with Zion for the past three
 years.  For the five prior years he worked for National Petroleum Limited,
 serving as Manger of Project Development in the former C.I.S. countries and
 Managing Director of a production enhancement project in the republic of
 Georgia.  Mr. Perry was with Prairie Producing Company for fifteen years,
 starting as a Production Engineer and serving as Chief Engineer, Vice-
 President, and most recently, Senior Vice President, Production and Operations
 when that company was sold in the early 90's to UNOCAL for approximately
 $330 million.  In his capacity, Mr. Perry had the responsibility for design,
 construction and operation of all projects including production facilities,
 pipelines, and plants as well as all oil and gas engineering, drilling,
 production and hydrocarbon marketing functions.  His early training was in
 drilling and production for Exxon Company, USA and Energy Reserves Group.
     Dr. Eliezer Kashai, studied geology in the University of Sciences,
 Budapest, Hungary and holds Masters and Ph.D. degrees in geology from Hebrew
 University.  He is a widely recognized authority on the Triassic formation of
 Israel, with more than fifty years of geological experience in Israel.  For
 almost thirty years he was with Lapidoth Israel Oil Prospectors Company, Ltd.
 and Oil Exploration Investment, Ltd., where he served in progressively
 responsible positions including Deputy Managing Director responsible for all
 that company's exploration efforts.  For the past fifteen years, Dr. Kashai
 has worked as an exploration consultant for various companies including Israel
 National Oil Company, Lapidoth, Naphta Petroleum, ABJAC-Mazal Ltd., Nordan Oil
 and Gas, and Sedot Neft.  Dr. Kashai has served as President of the Israel
 Geological Society and is responsible for five geological publications and
 nearly one hundred unpublished company reports on exploration projects,
 drilling recommendations, subsurface geological analysis and well evaluations
 in Israel.
     Elisha Roih holds a BA degree in Political Science and Oriental Studies
 from Hebrew University and has Continuing Educational course certificates in
 Business Administration, Production Technology and Offshore Operations.  Mr.
 Roih has 40 years experience in senior management positions in the petroleum
 industry of Israel.  Most recently, he served as General Manager of Lapidoth,
 Israel Oil Prospectors Company, Ltd.  Previously his positions included Deputy
 General Manager of the Israel National Oil Company, General Manager of
 Southern Sinai Petroleum, Exploration and Production Project in the Gulf of
 Suez, Operations Manager for Sinai Oil Fields in the Gulf of Suez and various
 management positions with Naphtha - Israel Petroleum Corporation Ltd.
 Mr. Roih has been associated with Zion Oil & Gas as a Senior Consultant since
 1991.
     Philip Mandelker, who holds a Doctor of Jurisprudence degree (1971, cum
 laude) from Columbia University School of Law and currently is of counsel to
 I. Amihud Ben-Porath, Hamou and Company in Tel-Aviv, Israel, serves as General
 Counsel to Zion Oil & Gas.  Mr. Mandelker is admitted to practice in both the
 United States and Israel and has extensive experience with the oil and gas
 exploration industry in both the United States and Israel.  At the Israeli
 Ministry of Finance Mr. Mandelker represented the Israeli Government in
 negotiating the Petroleum Concessions and Production Sharing Agreements in the
 Sinai Peninsula and Gulf of Suez in the mid-70s.  As Deputy and then Acting
 Legal Advisor to the Military Government of the Judea and Samaria Area (1978 -
 1980), he drafted a model oil and gas exploration and production concession
 agreement for use in the Area.  In New York between 1981 and 1993, Mr.
 Mandelker advised oil and gas exploration companies, sponsors and investors on
 the structure of and investment in oil and gas drilling programs and other
 matters relating to oil and gas exploration activities and investment therein.
 From 1992 to 1994, Mr. Mandelker served as an advisory director of Aztec
 Energy Corporation.  He has published and lectured on subjects related to
 investment in oil and gas exploration activities in Israel and in the United
 States.  From 1997 through 1999, Mr. Mandelker was Chief Legal Advisor of the
 United Mizrahi Bank, Ltd., a major Israeli Banking group headquartered in Tel-
 Aviv.
     Zion Oil & Gas is a private U.S. based corporation exploring for oil and
 gas in Israel.  More information is available from the corporate website at
 www.zionoil.org .
 
     The information in this news release includes certain forward-looking
 statements as defined in the "Safe Harbor" provision of the Private Securities
 Litigation Reform Act of 1995.  These statements are based upon assumptions
 that are subject to significant risks and uncertainties.  Although the Company
 believes that the expectations reflected in forward looking statements are
 reasonable, it can give no assurance that the expectations of any of its
 forward-looking statements will prove to be correct.
 
      Contact:  Gene Soltero of Zion Oil & Gas, Inc., +1-214-221-4610.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X82618262
 
 SOURCE  Zion Oil & Gas, Inc.