Extension Letter for Joseph Petroleum Exploration License No. 339 between State of Israel and Zion Oil & Gas
The State of Israel's Ministry of Energy and Water, through the Petroleum Commissioner, grants Zion Oil & Gas an extension of the Joseph License No. 339 until October 10, 2013. During this extension, Zion Oil & Gas must submit a plan for abandoning and plugging two specified wells by June 10, 2013, and complete the plugging and abandonment, with a detailed report, by October 1, 2013.
EXHIBIT 10.1
JOSEPH PETROLEUM EXPLORATION LICENSE NO. 339
EXTENSION LETTER (TRANSLATION)
State of Israel
Ministry of Energy and Water
Natural Resources Authority
Oil and Gas
3rd of Sivan, 5773
May 12th, 2013
Attn:
Mr. Victor G. Carrillo, President & COO
Zion Oil & Gas
Bareket 22 N. Industrial Area
Caesarea 38900
Dear Sir,
Subject: Joseph License/339 – extension
Reference: your letter dated April 10th, 2012
In response to your request I hereby extend the 339/ Joseph license until October 10th, 2013.
During the period of extension Zion Oil & Gas will execute the following work plan:
| a. | Prepare and submit a detailed plan for the abandonment and plugging of the Maanit-Rehovot #2 and Maanit –Joseph #3 wells until June 10th, 2013. |
| b. | Complete the plugging and abandonment of the wells until October 1st, 2013, and submit a detailed report on the above activities. |
Sincerely,
Alexander Varshavski
Petroleum Commissioner
