Zion Oil & Gas Appoints VP of Finance

Zion Oil & Gas announced today that, effective November 1, 2009, Ilan Sheena, a certified public accountant in Israel, joined the Company as Vice President of Finance of the Company's Caesarea branch.

Ilan Sheena C.P.A. (Isr.) is an accounting professional with broad local and international experience. He has a degree in Accounting and Economics from Tel Aviv University. After qualifying as a C.P.A. and working for three years with KPMG Somekh Chaikin in Israel, he spent four years at Alcatel in Sydney, Australia. Returning to Israel, he joined a high-tech start-up that, with his help, subsequently held an IPO and listed on Nasdaq. He then joined Bezeq International as the Financial Controller and Finance Manager and, after that, Verint Systems, a subsidiary of the Comverse group. He then joined a venture capital fund (with investors such as JP Morgan, Siemens, EDF, AXA, Schlumberger) and dealt with over eighteen start-up companies.

In addition, effective October 28, 2009, Andrew (Drew) Louis, a licensed attorney and Zion's current Vice President of Administration, has been appointed as Zion's Company Secretary and Company Treasurer.

Zion's Chief Executive Officer, Richard Rinberg, said today that, "The appointments of Andrew (Drew) Louis as Zion's Secretary and Treasurer, based in the Company's Dallas office and Ilan Sheena as Vice President of Finance in Zion's Caesarea office, greatly strengthen our team. Zion has a first class team of professionals who have both the experience and the ability to ensure that Zion's administration is always in very good order."