EXHIBIT 10.1
[TRANSLATION FROM HEBREW]
STATE OF ISRAEL
MINISTRY OF NATIONAL INFRASTRUCTURES
LICENSING AUTHORITY NATURAL RESOURCES
22 April 2010
Mr Richard Rinberg
Zion Oil & Gas Inc
15 Bareket Street
P.O. Box 3138
Dear Sir
Re: Extension of Validity of Petroleum License 339/”Maanit- Joseph”
Your letters dated 17 March 2010 - 8 April 2010
In view of your above referred application, I hereby extend the validity of license 339/”Maanit Joseph” for an additional year – namely up to October 10, 2011.
During this period the Company shall execute the following work program:
| | 1. | Complete production testing at Ma’anit – Rehoboth #2 drilling and submit a report on the results of the test of the reservoir until October 1, 2010. |
| | 2. | To drill to the Permian strata (Ma’anit-3) starting drilling no later than January 1, 2011. |
Sincerely
Dr. Ya’akov Mimran
Commissioner of Petroleum Affairs
