Zion Oil & Gas announces binding agreements for 3-D seismic services
Zion Oil & Gas announces it has entered into binding agreements for 3-D seismic landowner permitting services and for consulting services in connection with the required approvals from the Israel Ministries of Transportation and Communication for importation of the seismic equipment. The company additionally announced that in both the shareholder class action litigation in federal district court in Dallas, Texas, and in the consolidated derivative litigation in federal district court in Delaware, Zion, through its attorneys, has filed Motions to Dismiss all litigation, which Motions are now under consideration by the respective courts. Zion CEO, John Brown, and Zion COO, Robert Dunn, stated: "Our planned 3-D seismic program demonstrates Zion's long-term commitment to our dedicated shareholders and to the citizens of Israel. We are enthusiastic about the progress we have made to date with the 3-D program permitting process and other required approvals."