Leviathan Discovery Opens a New Era for Israel

Oil in Israel Newsletter	http://oilinisrael.net
Hi, January 5, 2010 Leviathan Discovery Opens a New Era for Israel Noble Energy's Offshore Gas Rig WASHINGTON, Dec. 29, 2010 /PRNewswire/ David Wurmser, Ph.D., founder and executive member of the Delphi Global Analysis Group, LLC (Delphi), today issued the following statement regarding confirmation of the Leviathan field offshore Israel as a major natural gas discovery with 16 Tcf of reserves. Delphi specializes in geopolitical risk analysis and mitigation, with a focus on energy development in Israel and throughout the Levant Basin. "The Leviathan discovery opens a new era of natural gas development offshore Israel. Production of so large a quantity of gas relative to Israel will trigger major political changes. A resource of this magnitude will allow Israel to implement an energy policy that advances security, economic growth, and the environment. From power generation to desalination to transportation, the benefits of significant Israeli natural gas production promise to be profound," said Dr. Wurmser. "Israel is now positioned to become an exporter of natural gas. If encouraged by effective public policy, the fiscal, macroeconomic, and geo-strategic implications of developing offshore natural gas promise to rank among the most important advances in the history of the modern State of Israel. "Accompanying a myriad of positive outcomes attached to Leviathan will be a series of serious political challenges. The temptation of excessive taxation and the internal battles over allocation of government revenue will intensify. Israel lacks energy-sector expertise and financing for large energy projects. Government officials have expressed concerns about concentrations of wealth and power in the hands of a few, as well as the impact of a stronger shekel on Israel's export-driven economy. Policy makers, energy companies, and the financial community confront a complex and volatile political landscape,"ť concluded Dr. Wurmser. COMMENT Zion Oil Reduces Warrant Price Zion Oil's Ma'anit-Joseph #3 Well Dallas, Texas and Caesarea, Israel - January 3, 2011: Zion Oil & Gas, Inc. (NASDAQ GM: ZN, ZNWAW) today announced that it has temporarily reduced the exercise price of its outstanding publicly traded warrants under the symbol ZNWAW (the "Warrants"ť) to $4.00 (from the $7.00 exercise price provided by the original terms of the Warrants) until 5:00 p.m. eastern time on March 7, 2011 (the "Expiration Time"). Any and all Warrants properly exercised in accordance with the terms of the Warrants prior to the Expiration Time will be accepted by Zion at the reduced exercise price and one share of registered common stock per Warrant will be issued to the exercising Warrant holder. After the Expiration Time, the $7.00 exercise price included in the original terms of the Warrants will be reinstituted. Except for the reduced exercise price of the Warrants prior to the Expiration Time, the terms of the Warrants remain unchanged. The reduced exercise price applies to all of Zion's currently outstanding Warrants that publicly trade under the symbol ZNWAW . Holders of Warrants that desire to exercise their Warrants should contact their brokers and instruct them to exercise the Warrants prior to the Expiration Time. (read more ...) COMMENT Lebanon asks UN to Guard Gas from Israeli Drilling * Lebanon asks U.N. to prevent Israel tapping its reserves * The two countries have no agreed maritime border BEIRUT, Jan 4 (Reuters) "Lebanon has asked U.N. Secretary-General Ban Ki-moon to ensure that Israel's plans to drill for gas in the Mediterranean do not encroach on its own offshore reserves, the National News Agency said on Tuesday. It said Foreign Minister Ali al-Shami wrote to Ban asking him to "exert every possible effort to prevent Israel exploiting Lebanonâ€(TM)s maritime hydrocarbon resources which fall within its exclusive economic zone"ť. (read more ...) COMMENT Exploration News 12/16/2010 Is there even more in Leviathan? 12/16/2010 Zion raises $18.25 million 11/3/2010 Iran to begin Lebanese offshore oil exploration 11/3/2010 Israel's offshore discoveries fuel tension 8/19/2010 1.5 Billion Barrel Oil Discovery in Israel? Israel/World News 12/16/2010 Egyptian gas deals threaten Tamar exploration 6/10/2010 Lebanon Speaker Urges Fast Action on Offshore Gas Reserves 6/10/2010 Russia, Turkey: "Israel won't get our gas" 5/12/2010 Noble Energy to be honored for Israel gas discoveries Resources 6/10/2010 "The Oil of Israel" by: John Brown 3/20/2010 Breaking the Treasure Code 3/28/2010 The Great Treasure Hunt 10/11/2008 Mandelker's "Biblical Treasure Hunt" Breaking The Treasure Code:The Hunt for Israel's Oil "If you haven't read this important book yet, get it read it and watch the news as prophecy unfolds ..." (read more) The Great Treasure Hunt by: Jim Spillman Would you like to know: Where the greatest treasure in the world is buried? Why Russia will attack Israel? The secret behind the battle of Armageddon? 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