Post by Ethan / JRyan on Mar 19, 2020 17:58:36 GMT -5
Zion Oil & Gas Receives Nasdaq Listing Extension Until June 26, 2020
The Nasdaq Hearing Panel communicated this by letter dated March 13, 2020
DALLAS, Texas, and CAESAREA, Israel, March 19, 2020
Zion Oil & Gas, Inc. (Nasdaq: ZN) announces the Nasdaq Hearing Panel granted the request of Zion Oil & Gas, Inc. for continued listing on The Nasdaq Stock Market LLC.
The Nasdaq Hearing Panel communicated this by letter dated March 13, 2020. The continued listing is subject to Zion Oil & Gas demonstrating compliance with the minimum $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), on or before June 26, 2020.
In order for Zion to comply with the requirement by Nasdaq, Zion must have a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days, on or before June 26, 2020.
Zion is diligently working to comply with the Nasdaq Listing Rule 5550(a)(2); however, there can be no assurance that it will be able to do so.
Zion has completed the purchase of a drilling rig and related equipment (see Press Release dated March 18, 2020). Also, Zion has incorporated two wholly owned subsidiaries, Zion Drilling, Inc. and Zion Drilling Services, Inc., for the operation of the rig in Israel.
Zion Oil & Gas, a public company traded on NASDAQ (ZN), explores for oil and gas onshore in Israel on their 99,000-acre Megiddo-Jezreel license area.
“The Lord Himself goes before you and will be with you; He will never leave you nor forsake you. Do not be afraid; do not be discouraged.”
Deuteronomy 31:8
“Sing to the Lord, for he has done glorious things; let this be known to all the world. Shout aloud and sing for joy, people of Zion, for great is the Holy One of Israel among you.”
Isaiah 12:5-6
LINK
The Nasdaq Hearing Panel communicated this by letter dated March 13, 2020
DALLAS, Texas, and CAESAREA, Israel, March 19, 2020
Zion Oil & Gas, Inc. (Nasdaq: ZN) announces the Nasdaq Hearing Panel granted the request of Zion Oil & Gas, Inc. for continued listing on The Nasdaq Stock Market LLC.
The Nasdaq Hearing Panel communicated this by letter dated March 13, 2020. The continued listing is subject to Zion Oil & Gas demonstrating compliance with the minimum $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), on or before June 26, 2020.
In order for Zion to comply with the requirement by Nasdaq, Zion must have a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days, on or before June 26, 2020.
Zion is diligently working to comply with the Nasdaq Listing Rule 5550(a)(2); however, there can be no assurance that it will be able to do so.
Zion has completed the purchase of a drilling rig and related equipment (see Press Release dated March 18, 2020). Also, Zion has incorporated two wholly owned subsidiaries, Zion Drilling, Inc. and Zion Drilling Services, Inc., for the operation of the rig in Israel.
Zion Oil & Gas, a public company traded on NASDAQ (ZN), explores for oil and gas onshore in Israel on their 99,000-acre Megiddo-Jezreel license area.
“The Lord Himself goes before you and will be with you; He will never leave you nor forsake you. Do not be afraid; do not be discouraged.”
Deuteronomy 31:8
“Sing to the Lord, for he has done glorious things; let this be known to all the world. Shout aloud and sing for joy, people of Zion, for great is the Holy One of Israel among you.”
Isaiah 12:5-6
LINK