Approval Extension for New Megiddo License 428 between Israel Energy Ministry and Zion Oil & Gas Inc.
The State of Israel's Energy Ministry has granted Zion Oil & Gas Inc. an extension of the New Megiddo 428 petroleum license until August 1, 2022. This extension is specifically for completing activities related to the MJ2 drilling project, as outlined in Zion's request. Any further extension will require proof of extraordinary circumstances and additional approval after consultation with the Advisory Council under the Petroleum Law.
Exhibit 10.11
[TRANSLATION FROM HEBREW]
State of Israel
Energy Ministry
Fuel and Gas Authority
25 Kislev 5782
29 November 2021
_556_2021
To:
Mr. Jeffrey Moskowitz
Managing Director Zion Oil & Gas Inc.
Industrial Park Caesarea
Re: Approval Extension License New Megiddo 428
Reference: Your request from 17 November 2021 for an Extension
After consultation with the Advisory Council pursuant to the Petroleum Law and in accordance with the reasoning set forth in your referenced letter I hereby approve the extension of the “New Megiddo” / 428 license to August 1, 2022 for the purpose only of completing the activities regarding MJ2 drilling and in accordance with the schedule as set forth in the above mentioned request .
Another application for an extension shall be considered if and inasmuch as it shall be proven that you have encountered extraordinary circumstances and after consultation with the Advisory Council pursuant to the Petroleum Law.
Sincerely,
Chen Bar- Yoseph,
Substitute Petroleum Commissioner.
CC.
Mr. Lior Shilat Managing Director Ministry of Energy
Members of the Professional Staff, Natural Resources Authority, Ministry of Energy
Mr. Elad Golan, Head of Regulatory Section, Ministry of Energy
Advocate Yonit Vannu Shrem Legal Department, Ministry of Energy
