Zion Oil & Gas, Inc. : Zion Oil & Gas CEO to Present at ROTH Investor Conference in California

Dallas, Texas and Caesarea, Israel - February 16, 2012 - Zion Oil & Gas, Inc. (NASDAQ GM: ZN) announced today that its Chief Executive Officer, Richard Rinberg, will present at the 24th Annual ROTH Investor Conference on March 11-14, 2012, at Dana Point, California.

Zion's CEO, Richard Rinberg, said today, "I look forward to presenting Zion's onshore exploration story to the estimated 1,000 plus participants at the upcoming ROTH Capital Partners Conference in California. I am optimistic about the possibility of recovering hydrocarbons within our license areas, onshore Israel, especially due to the U.S. Geological Survey (USGS) report, published in April 2010, containing their assessment that there may be 1.7 billion barrels of recoverable oil and 122 trillion cubic feet of recoverable gas in the Levant Basin, as all of Zion's exploration rights fall within the area of the Levant Basin."

ROTH's invitation-only annual conference brings together executives from over 400 growth companies. It is one of the largest conferences of its kind in the United States. This event is designed to provide investors with a unique opportunity to gain insight into small and mid-cap growth companies across a variety of sectors, including the Global Energy & Industrials sector. The conference organizers combine company presentations, Q&A sessions, expert panels and management one-on-one meetings to provide institutional clients with extensive interaction with senior management to gain in-depth insights into each company. Over 1,000 buy side investors are expected to attend.

Zion's common stock trades on the NASDAQ Global Market under the symbol "ZN".

Zion Oil & Gas, a Delaware corporation, explores for oil and gas in Israel in areas located onshore between Haifa and Tel Aviv. It currently holds three petroleum exploration licenses: the Joseph License (on approximately 83,272 acres) and the Asher-Menashe License (on approximately 78,824 acres) between Netanya, in the south, and Haifa, in the north, and the Jordan Valley License (on approximately 55,845 acres), just south of the Sea of Galilee. The total license area amounts to approximately 218,000 acres.

FORWARD LOOKING STATEMENTS: Statements in this press release that are not historical fact, including statements regarding Zion's planned operations, anticipated attributes of geological strata being drilled, the presence or recoverability of hydrocarbons, the sufficiency of cash reserves, timing and potential results thereof and plans contingent thereon are forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are described in Zion's periodic reports filed with the SEC and are beyond Zion's control. These risks could cause Zion's actual performance to differ materially from the results predicted by these forward-looking statements. Zion can give no assurance that the expectations reflected in these statements will prove to be correct and assumes no responsibility to update these statements.