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Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Zion Oil & Gas, Inc. Investors

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National securities litigation law firm Glancy
Prongay & Murray LLP
("GPM") announces that a class action
lawsuit has been filed on behalf of investors that purchased or
otherwise acquired securities of Zion Oil & Gas, Inc. ("Zion" or the
"Company") (NASDAQ: ZN)
between March 12, 2018, and July 10, 2018, inclusive (the
"Class Period"). Zion investors have until October 9, 2018 to
file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here
to participate.

Investors that suffered losses on their Zion investments are encouraged
to contact Lesley Portnoy of GPM to discuss their legal rights in this
class action at 310-201-9150 or by email to shareholders@glancylaw.com.

On July 11, 2018, Zion disclosed that the Company had received a
subpoena to produce documents from the Fort Worth office of the
Securities and Exchange Commission ("SEC"), informing Zion of the
existence of a non-public, fact-finding inquiry into the Company. On
this news, Zion's share price fell $0.44 per share, or 11%, to close at
$3.56 per share on July 12, 2018, thereby injuring investors.

The Complaint filed in this class action alleges that Defendants made
materially false and/or misleading statements and/or failed to disclose
that: (1) Zion was either already or was likely to soon become the
subject of an SEC investigation; and (2) as a result, Zion's public
statements were materially false and misleading at all relevant times.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased shares of Zion during the Class Period you may move the
Court no later than October 9, 2018 to ask the Court to
appoint you as lead plaintiff. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century
Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

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