FORM OF SUBSCRIPTION AGREEMENT For use by Zion acting as Subscription Agent SUBSCRIPTION CERTIFICATE FOR RIGHTS OFFERING FOR HOLDERS OF RECORD ON _________, 2009Form of Subscription Agreement • July 29th, 2009 • Zion Oil & Gas Inc • Oil & gas field exploration services
Contract Type FiledJuly 29th, 2009 Company IndustryZION OIL & GAS, INC. (the “Company”) is conducting a rights offering (the “Rights Offering”) that entitles the holders of the Company’s common stock, $0.01 par value per share (the “Common Stock”), as of the close of business on _________, 2009 (the “Record Date”) to receive .13 of a subscription right (each, a “Right”) for each share of Common Stock held of record on the Record Date. No fractional shares or cash in lieu thereof will be issued or paid. Instead, the number of Rights received will be rounded up to the next largest whole number. Each whole Right entitles the holder to subscribe for and purchase one share of Common Stock (the “Basic Subscription Right”) at a subscription price of $5.00 per share.
FORM OF SUBSCRIPTION AGREEMENTForm of Subscription Agreement • January 29th, 2009 • Zion Oil & Gas Inc • Oil & gas field exploration services
Contract Type FiledJanuary 29th, 2009 Company IndustryZION OIL & GAS, INC. (the “Company”) is conducting a rights offering (the “Rights Offering”) that entitles the holders of the Company’s common stock, $0.01 par value per share (the “Common Stock”), as of the close of business on _________, 2009 (the “Record Date”) to receive .375 of a subscription right (each, a “Right”) for each share of Common Stock held of record on the Record Date. No fractional shares or cash in lieu thereof will be issued or paid. Instead, the number of Rights received will be rounded up to the next largest whole number. Each whole Right entitles the holder to subscribe for and purchase one share of Common Stock (the “Basic Subscription Right”) at a subscription price of $5.00 per share.