Shalom and Welcome!

First, please take the time to familiarize yourself with our latest updates and our company's prospectus. Why? These give you insight into the reality of the investment you are looking to make.

This "smart form" updates based on what you need to do today. For your security, both the page transmission of data is encrypted (see the lock on your browser), and the form itself is encrypted (see the lock on the bottom by "Formstack").

Use this form to enroll in our DSPP. ✅ Invest quickly, ✅ purchase UNITS, ✅ exercise warrants, and/or ✅ update your monthly deduction.

The minimum amount for new accounts is $250. If you have never invested with us directly before, you are a new investor. Current direct investors may invest additional funds at $50 per investment.
You may use this form to add your monthly automatic investment of $50 or more per month. (You may also change your monthly investment.)
We do not accept credit or debit cards. Have your checking account, routing information, and driver's license ready. International investors will have different options.
Current investors, please have your AST Financial account statements on hand.
Do not use the browser arrows while you are on this form. Use the light blue "Previous Arrow or Box" and "Next Arrow or Box" buttons on the bottom of each page.
Note: When you complete this online form before 4 PM (USA Eastern Time) your stock purchase price will be today's high-low average. Receipt of payment may take up to 48 hours. Once Zion Oil receives your payment, it may take up to 7-14 business days for your stock purchase to be listed in your AST stock account.

Other questions? Please call 888-891-9466 9am-5pm CT, M-Th. (Online chat and email are available as well.)

Note: Your privacy is very important to us. To better serve you, the form information you enter is recorded in real time.

Contact Information

First Name*

Last Name*

Surname or Family name

Email*

Confirm Email *

Your best email address

Phone Number with Area Code*

Please include a country code if outside the U.S.

Are you already enrolled?*

No, I'm new to Zion OR I've only purchased through my broker. Yes, I already have an AST Shareholder account number.

AST Financial shareholder account number:*

**Note: If you recently invested and you have yet to receive your number, you may use your "Temporary number" found on your confirmation email from your last investment. OR, if you cannot access or remember your number, just put in ten "0s" in a row like this - "0000000000". We will use your other information to apply your AST # for you.

Stock Company No.

Note: You may have more than one AST Financial shareholder account number. Please use the account number associated with your common stock. Thank you!

How can we help you today? (You can choose more than one)*

Invest additional funds through the DSPP Exercise my Warrants Setup/change my automatic monthly draft Change my dividend election

Choose at least one

ADDRESS

Please confirm your address:

Although we drill exclusively in Israel, we are a U.S. company. So that we may best serve you, please let us know if you are investing internationally.

I am investing from*

the United States another country

Please enter your mailing address below.

Example:

Please do not include your name below.
Address 1
Address 2
City State ZIP

Address Line 1

Address Line 2

City

State

ZIP Code

Address Line 1

Address Line 2

City

State/Province

ZIP / Postal

Country I live in:*

Returning investors: to change your official account address, also call AST at 844-699-6645. Have your account # ready.

Dividend Reinvestment

I would like:*

Dividend Reinvestment Percentage:*

10% minimum

Dividends are payments made to shareholders in addition to holding stock, that can be used to purchase more stock or given in cash to the shareholder.

Dividend Reinvestment is when dividends are used to purchase more stock in the shareholder's name.

Because the DSPP is a dividend reinvestment program, you must choose one of the options below. Please read carefully:

Full Dividend Reinvestment - You direct the Zion Oil to reinvest any future dividends on all shares of common stock registered in your name as well as shares in the DSPP.

Partial Reinvestment - You direct Zion Oil to reinvest a percentage of any future dividends paid on all shares of common stock registered in your name. DSPP shares will be reinvested fully. The remaining percentage of shares will be paid cash dividends only if held outside the DSPP in certificate form or in a brokerage.

Cash Only - You direct Zion Oil to pay any future dividends in cash. Cash dividends can only be paid on shares you hold outside the DSPP in certificate form or in a brokerage.

Please Note: At any time, you may request your share certificates be sent to you by doing so in writing to our transfer agent, AST. You may change your dividend selection at any time by using this form as a returning investor or by contacting Zion Oil in writing. To date, we have not paid dividends and there is no guarantee that Zion Oil would ever pay dividends on our common stock.

We are currently offering a NEW UNIT Program

A UNIT contains both Zion stock and warrants (UNIT = Stock + Warrants).
Stock is a type of investment that represents ownership in Zion Oil & Gas.
Warrants are options to purchase stock later at the set $0.25 price per Warrant.

Note: Stock investments will be purchased at today’s high-low average market price if purchased before 4 PM (USA Eastern Time, UTC−8 PM). If the purchase is made after market close, your stock purchase price will be determined by the high-low average of the following market day.

NEW UNIT PROGRAM DETAILS:

For each $250.00 UNIT you receive:

$250.00 of ZNOG Stock for today's high-low average (if purchased before 4 pm Eastern).
50 Warrants with an exercise price of $0.25 each.

You can purchase these UNITS until 11:59 pm (your current time) on Tuesday, April 30, 2024.

Bonus:

Those who purchase UNITS and sign up (or are already enrolled) for Automatic Monthly Investments (AMI), will receive:

50 Additional $0.25 Warrants if enrolled for at least $50/month.

These Warrants are exercisable for 12 months (ONE YEAR) on May 15, 2024 until May 14, 2025.

* This UNIT Program has been extended and will end on Tuesday, April 30, 2024.

STOCK PURCHASE

The maximum transaction per submission is $10,000. If you want to invest over that amount, enter the maximum and fill out the form multiple times to add up to the amount you wish to invest.

How do you want to enter your purchase?*

I wish to enter the dollar amount and have the UNITS and Warrants calculated for me. I wish to enter the number of UNITS I wish to purchase and have the dollar amount and Warrants calculated for me.

Any amount below $250 (Example: $50) will purchase Zion stock and will not include Warrants. Any amount above the $250 increments (Example: $265) will purchase additional Zion stock. NOTE: All new investors in the DSPP must invest a minimum of $250.

Enter the US dollar amount you wish to invest today: * $

$10,000 maximum per transaction. This amount will purchase ZNOG Common Stock at the day's high-low average if purchased by 4:00PM ET. UNITS will be calculated below at $250 increments.

Enter the number of UNITS you wish to purchase today:*

Slide to right to increase your Units. 40 UNITS maximum per transaction.

Number of UNITS you are purchasing from US dollar amount entered:

Each UNIT is $250. [Dollar amount / $250 = UNITS] • 40 UNITS maximum per transaction.

US dollar amount you are investing today: $

Each Unit is $250. [UNITS * $250 = Dollar amount invested] • $10,000 Maximum. This amount will purchase ZNOG Common Stock at the day's high-low average if purchased by 4:00PM ET.

Warrants included in this UNIT purchase:

Read-only - These will be $0.25 Warrants

Confirm Investment

✔️ Total US Dollar Amount: $

Read Only - This amount will purchase ZNOG Common Stock at the day's high-low average if purchased by 4:00PM ET.

✔️ US Dollar Amount will purchase this many UNITS:

Read Only - Each Unit is $250. [Dollar amount / $250 = Unit(s)]

✔️ UNIT Purchase will include this many Warrants:

Read-only - Each UNIT includes 50 Warrants. These will be $0.25 Warrants

If all the above is correct, please click Blue Arrow Next below.

If you wish to change anything, please click Blue Arrow Back below.

Automatic Monthly Investment (AMI)

The maximum transaction per submission of this form is $10,000. If you want to invest over that amount, enter the maximum and fill out the form multiple times to add up to the amount you wish to invest.

Automatic deductions for common stock only can be added to your initial investment but are not required.

Draft are processed by AST Financial, from a USD checking or savings account, on/around the 20th of each month. Shares will be issued into your AST account around the 26th.

Monthly drafts that are set up today will begin next month. Drafts resulting in insufficient funds may incur charges to your account that are not the responsibility of Zion Oil & Gas.

Making changes to a monthly draft? Your entry will replace what we have on file. Changes must be requested and confirmed by Zion before the 15th, or the changes will take effect on the following month. To cancel your monthly draft, please contact us directly at invest@zionoil.com.

Would you like to set up or change an automatic monthly investment (AMI)?*

Yes, please! No, not today. No, I already have a monthly investment set up and it is active.

Only available for USA Banking accounts. If you want to increase your current amount, choose "Yes, please!"

Automatic Monthly Investment Amount:* $

Please change to the dollar amount to the EXACT amount you wish to have drafted monthly ($50 Minimum). Example: $75.50

This many more Warrants will be issued with your automatic monthly investment (AMI)

Exercise Warrants

Exercise Warrants = Use Warrants to Purchase Common Stock

Warrants may be used to purchase additional Common Stock. Indicate which warrants you own below and the price will be calculated for you based on the value of the type of warrant you select.

Note: If you did not purchase Units in the past, you do not own Warrants. Please return to the previous page, uncheck the "exercise my warrants" option and invest additional funds in our Common Stock.

Choose which warrants you would like to use:*

I purchased $2.50 Units and now own ZNWAA $2 Warrants that expire 1/31/2024. I purchased $250 Units and now own ZNWAZ $0.25 Warrants that expire 07/17/2024.

Warrant Acknowledgement:*

If you do not own the warrants selected above, you authorize us to transfer payment to any other warrants you do own, as long as the exercise price is the same. If you do not own any warrants of value equal to or less than the selected warrants, you authorize us to purchase common stock at the average market price to fulfill your request.

I understand that the stock price is currently below the exercise price of these warrants and that the warrant exercise made today will be held until the Warrant Indemnification Form is received by Zion Oil. (The link to print the form is below)

LINK: Warrant Indemnification Form

How many A Warrants do you want to exercise?*

1 warrant = 1 share of stock for $2

How many D warrants do you want to exercise?

$1 per warrant

How many E warrants do you want to exercise?

$1 per warrant

How many F warrants do you want to exercise?

$1 per warrant

How many G warrants do you want to exercise?

$0.25 per warrant

How many H warrants do you want to exercise?

$5 per warrant

How many I warrants do you want to exercise?

$3 per warrant

How many J warrants do you want to exercise?

$1 per warrant

How many L warrants do you want to exercise?

1 warrant = 1 share of stock for $2

How many N warrants do you want to exercise?

1 warrant = 1 share of stock for $1

How many O warrants do you want to exercise?

1 warrant = 1 share of stock for $0.25

How many V warrants do you want to exercise?

1 warrant = 1 share of stock for $0.05

How many W warrants do you want to exercise?

1 warrant = 1 share of stock for $0.05

How many X warrants do you want to exercise?

1 warrant = 1 share of stock for $0.05

How many Y warrants do you want to exercise?

1 warrant = 1 share of stock for $0.05

How many Z warrants do you want to exercise?*

$0.25 per warrant

Your $2 Exercise Total: $

Your $1 Exercise Total: $

Your $3 Exercise Total: $

Your $0.25 Exercise Total: $

Your $0.05 Exercise Total: $

ZNWAA Warrant account number:*

ZNWAF Warrant account number:

ZNWAG Warrant account number:

ZNWAI Warrant account number:

ZNWAJ Warrant account number:

ZNWAL Warrant account number:

ZNWAN Warrant account number:

ZNWAO Warrant account number:

ZNWAV Warrant account number:

ZNWAW Warrant account number:

ZNWAX Warrant account number:

ZNWAY Warrant account number:

ZNWAZ Warrant account number:*

ZNWAA Company No.

ZNWAC Company No.

ZNWAD Company No.

ZNWAE Company No.

ZNWAF Company No.

ZNWAG Company No.

ZNWAH Company No.

ZNWAI Company No.

ZNWAJ Company No.

ZNWAK Company No.

ZNWAL Company No.

ZNWAN Company No.

ZNWAO Company No.

ZNWAV Company No.

ZNWAW Company No.

ZNWAX Company No.

ZNWAY Company No.

ZNWAZ Company No.

You will need the information below to set up the monthly draft in USD with your bank. Please print this page for your records.

Account Name: ZION OIL & GAS, INC.

Bank Name: Citibank N.A., 399 Park Avenue, New York, New York 10043

Account Number: 30968303

Routing Number: 021000089

SWIFT/BIC code: CITIUS33

Full Investment Summary

The maximum transaction per submission of this form is $10,000. If you would like to invest over that amount, enter the maximum and fill out the form multiple times to add up to the amount you wish to invest.

✅ US Dollar Investment Amount toward stock: $

This includes the stock purchase portion of any UNIT (purchases of $250+)

✅ Automatic Monthly Investment: $

*This amount will be drafted starting NEXT month and will not be included in today's purchase.

✅ Number of UNITS:

Read-only field

✅ Warrants to be issued from this UNIT purchase:

Read-only field

✅ Warrants to be issued for automatic monthly investment (AMI):

Read-only field - additional Warrants shown for monthly investment to be issued.

✅ $.25 Warrant Exercise Amount $

Read-only field

✅ $.05 Warrant Exercise Amount $

Read-only field

✅ $1 Warrant Exercise Amount $

Read-only field

✅ $2 Warrant Exercise Amount $

Read-only field

✅ $3 Warrant Exercise Amount $

Read-only field

✅ $5 Warrant Exercise Amount $

Read-only field

✅ ✅ Today's Total: $

Read-only field. The maximum transaction per submission of this form is $10,000. If you want to invest over that amount, enter the maximum and fill out the form multiple times to add up to the amount you wish to invest.

✅ ✅ Automatic Monthly Investment $

*This amount will be drafted starting NEXT month and is not included in today's total.

✅ ✅ Total Warrants to be issued from this UNIT purchase:

Read-only field - additional warrants shown for monthly investment

All of the investment information above is accurate. (Hint: to make changes, use the light blue previous arrow at the bottom to return to the page before to make changes.)

Authorization & Signature

It is important that you are aware and informed before you invest. You have full access to our DSPP prospectus describing our financial condition for potential buyers. Download our prospectus by clicking HERE. It will open in a separate window.

I have read the prospectus.

Sign below by typing your name similar to the example. Your entry on this form will serve the same function as a traditional signature.

All information entered into this enrollment form is accurate to the best of my knowledge. I understand that I am purchasing shares and/or units and that I am held to the terms and conditions under the DSPP plan as listed in the Zion Oil & Gas DSPP prospectus, prospectus supplement and ammendments.

I authorize AST and/or Zion Oil & Gas, Inc. to make monthly automatic transfers of funds from my bank account as the information provided states. I also authorize debits and credits as necessary to correct any errors to my account. This authorization will remain in full force and effect until Zion Oil & Gas, Inc. and/or AST has received written notice of termination and has had a reasonable time in which to act on such termination.

Signature:*

Second Signature:*

All legal account holders must sign

Additional Signature if applicable:

All legal account holders must sign

Additional Signature if applicable:

All legal owners must sign

After signing, please click the light blue NEXT arrow to enter your payment information.

Payment Information

Enter the driver's license information that corresponds with the checking account you would like to use. The same person must be associated with both for the payment to work.

Driver's License Number*

Please do not use dashes or spaces.

Driver's License State*

Checking Account Information

Please Note: We cannot accept credit cards, debit cards, or one-time payments from savings accounts. Also, make sure to leave out your check number.

Routing Number:*

Number must have 9 digits.

Account Number:*

Please include any preceding zeros that appear on your physical check. Please no spaces.

Will you be using a different account for your monthly investment?*

No Yes

What type of account will you be using?*

Checking Savings

Routing Number for Monthly Investment:*

Must be 9 digits, please check for accuracy.

Account Number for Monthly Investment*

Review your total purchase amount:* $

USD (Monthly investment setup will not show here.)

Yes, I'm ready to purchase this amount.

Wait!

Please re-check ALL FIELDS on this page for accuracy. Trust us, this step is worth the effort.

We now accept several currencies for your convenience. If your currency is not listed you must send the payment in USD. We will adjust your stock purchase as needed, if the funds received to not match what you have entered on this form. All wires are considered international wires if not made from within the US. Once a currency is selected, copy or print the information so you can wire funds through your bank. Once Zion Oil receives your payment, it may take up to 7-14 business days for your stock purchase to be listed in your AST Financial stock account.

Concerned your bank fees to wire funds are too high? Consider using online options like TransferWise.

My Currency*

Beneficiary Account Name: Zion Oil & Gas, Inc., Wilmington, Succursale De Geneve

Beneficiary Account Address: 6 Avenue Jules Crosnier, 1206 Geneve, Switzerland

Beneficiary Bank Name: Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB.

Branch Legal Name: Citibank, N.A., London Branch

SWIFT/BIC code: CITIGB2L

Account Number: 0017084617

IBAN: (wire transfers only) GB60CITI18500817084617