Zion Oil & Gas, Inc. Files Quarterly Report for Period Ended March 31, 2024

TL;DR

<b>Zion Oil & Gas, Inc. has filed its quarterly report for the period ending March 31, 2024, confirming its operational status and share count.</b>

AI Summary

ZION OIL & GAS INC (ZNOGW) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Zion Oil & Gas, Inc. filed a Form 10-Q for the quarterly period ended March 31, 2024. The company is incorporated in Delaware and its fiscal year ends on December 31. Its principal executive offices are located at 12655 North Central Expressway, Suite 1000, Dallas, TX 75243. Zion Oil & Gas, Inc. has been subject to the filing requirements for the past 90 days. As of May 6, 2024, the company had 733,547,697 shares outstanding.

Why It Matters

For investors and stakeholders tracking ZION OIL & GAS INC, this filing contains several important signals. This filing provides an update on the company's financial and operational status for the first quarter of 2024, which is crucial for investors to assess performance and future prospects. The disclosure of the outstanding share count as of May 6, 2024, is important for calculating market capitalization and understanding potential dilution.

Risk Assessment

Risk Level: low — ZION OIL & GAS INC shows low risk based on this filing. The filing is a routine quarterly report (10-Q) and does not contain significant new financial data or operational developments that would indicate a change in risk profile.

Analyst Insight

Investors should review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 733,547,697 — Outstanding Shares (As of May 6, 2024)
• 20240331 — Quarterly Period End Date (Form 10-Q filing)
• 20240508 — Filing Date (Form 10-Q filing)

Key Players & Entities

• ZION OIL & GAS INC (company) — Filer name
• 20240331 (date) — Conformed period of report
• 20240508 (date) — Filed as of date
• 12655 NORTH CENTRAL EXPRESSWAY (address) — Business address street 1
• SUITE 1000 (address) — Business address street 2
• DALLAS (address) — Business address city
• TX (address) — Business address state
• 75243 (address) — Business address zip

FAQ

Risk Factors

• Reporting Requirements [low — regulatory]: The company is subject to ongoing reporting requirements under Section 13 or 15(d) of the Securities Exchange Act of 1934.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the Form 10-Q was officially filed with the SEC.
• 2024-05-06: Outstanding Share Date — Date as of which the outstanding share count was reported.

Key Financial Figures

• $0.01 — 7,697 shares of common stock, par value $0.01 per share. INDEX PAGE Page PART I

Filing Documents

• ea0204408-10q_zionoil.htm (10-Q) — 1023KB
• ea020440801ex31-1_zionoil.htm (EX-31.1) — 10KB
• ea020440801ex31-2_zionoil.htm (EX-31.2) — 10KB
• ea020440801ex32-1_zionoil.htm (EX-32.1) — 3KB
• ea020440801ex32-2_zionoil.htm (EX-32.2) — 3KB
• image_001.jpg (GRAPHIC) — 70KB
• 0001213900-24-040902.txt (&nbsp;) — 6682KB
• znogw-20240331.xsd (EX-101.SCH) — 77KB
• znogw-20240331_cal.xml (EX-101.CAL) — 41KB
• znogw-20240331_def.xml (EX-101.DEF) — 276KB
• znogw-20240331_lab.xml (EX-101.LAB) — 521KB
• znogw-20240331_pre.xml (EX-101.PRE) — 271KB
• ea0204408-10q_zionoil_htm.xml (XML) — 1007KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

– Financial Statements – Unaudited

Item 1 – Financial Statements – Unaudited Consolidated Condensed Balance Sheets – March 31, 2024 and December 31, 2023 1 Consolidated Condensed Statements of Operations for the three months ended March 31, 2024 and 2023 2 Consolidated Condensed Statement of Changes in Stockholders' Equity for the three months ended March 31, 2024 and 2023 3 Consolidated Condensed Statements of Cash Flows for the three months ended March 31, 2024 and 2023 4 Notes to Consolidated Condensed Financial Statements 6

– Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 35

– Quantitative and Qualitative Disclosures About Market Risk

Item 3 – Quantitative and Qualitative Disclosures About Market Risk 44

– Controls and Procedures

Item 4 – Controls and Procedures 44

— OTHER INFORMATION

PART II — OTHER INFORMATION

– Legal Proceedings

Item 1 – Legal Proceedings 45

– Risk Factors

Item 1A – Risk Factors 45

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 45

– Defaults upon Senior Securities

Item 3 – Defaults upon Senior Securities 45

– Mine Safety Disclosures

Item 4 – Mine Safety Disclosures 45

– Other Information

Item 5 – Other Information 45

– Exhibits

Item 6 – Exhibits 46 Exhibit Index 46

SIGNATURES

SIGNATURES 47 i Zion Oil & Gas, Inc. Consolidated Condensed Balance Sheets as of March 31, 2024 December 31, 2023 US$ thousands US$ thousands (unaudited) Current assets Cash and cash equivalents 1,115 615 Fixed short term bank and escrow deposits – restricted 1,031 1,020 Prepaid expenses and other 415 515 Governmental receivables 27 18 Other receivables 445 123 Total current assets 3,033 2,291 Unproved oil and gas properties, full cost method (see Note 4) 16,943 16,637 Property and equipment at cost Drilling rig and related equipment, net of accumulated depreciation of $ 2,405 and $ 2,215 (see note 2I) 5,319 5,510 Property and equipment, net of accumulated depreciation of $ 693 and $ 686 75 74 5,394 5,584 Right of Use Lease Assets (see Note 5) 956 194 Other assets Assets held for severance benefits 489 475 Total other assets 489 475 Total assets 26,815 25,181 Liabilities and Stockholders' Equity Current liabilities Accounts payable 674 777 Insurance financing (see note 6D) 388 432 Lease obligation – current (see Note 5) 224 167 Asset retirement obligation 571 571 Accrued liabilities 617 693 Total current liabilities 2,474 2,640 Long-term liabilities Lease obligation – non-current (see Note 5) 708 24 Provision for severance pay 506 499 Total long-term liabilities 1,214 523 Total liabilities 3,688 3,163 Commitments and contingencies (see Note 6) Stockholders' equity Common stock, par value $ .01 ; Authorized: 1,200,000,000 shares at March 31, 2024: Issued and outstanding: 709,445,335 and 640,002,580 shares at March 31, 2024 and December 31, 2023, respectively 7,094 6,400 Additional paid-in capital 304,354 302,177 Accumulated deficit ( 288,321 ) ( 286,559 ) Total stockholders' equity 23,127 22,018 Total liabilities and stockholders' equity 26,815 25,181 The accompanying notes are an integral part of the unaudited interim co

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View this 10-Q filing on SEC EDGAR