Zion Oil & Gas Files Q3 2024 10-Q Report
Ticker: ZNOGW · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 1131312
| Field | Detail |
|---|---|
| Company | Zion Oil & Gas Inc (ZNOGW) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, oil-and-gas, exploration, quarterly-report
TL;DR
ZION files Q3 10-Q. Check financials for latest oil & gas exploration update.
AI Summary
Zion Oil & Gas, Inc. filed its quarterly report on Form 10-Q for the period ended September 30, 2024. The company, incorporated in Delaware and headquartered in Dallas, Texas, operates in the oil and gas field exploration services sector. The filing details its financial performance and operational status for the third quarter of 2024.
Why It Matters
This filing provides investors and stakeholders with an update on Zion Oil & Gas's financial health and operational progress during the third quarter of 2024, crucial for assessing the company's performance in the volatile energy market.
Risk Assessment
Risk Level: medium — As an oil and gas exploration company, Zion Oil & Gas faces inherent risks related to commodity prices, exploration success, and regulatory changes.
Key Players & Entities
- ZION OIL & GAS, INC. (company) — Registrant
- Delaware (jurisdiction) — State of incorporation
- Dallas, TX (location) — Principal executive offices
- September 30, 2024 (date) — Quarterly period end date
FAQ
What is the primary business of Zion Oil & Gas, Inc.?
Zion Oil & Gas, Inc. is primarily engaged in oil and gas field exploration services, as indicated by its SIC code [1382].
In which state was Zion Oil & Gas, Inc. incorporated?
Zion Oil & Gas, Inc. was incorporated in Delaware.
What is the principal executive office address for Zion Oil & Gas, Inc.?
The principal executive offices are located at 12655 North Central Expressway, Suite 1000, Dallas, TX 75243.
What period does this Form 10-Q report cover?
This Form 10-Q report covers the quarterly period ended September 30, 2024.
What is the IRS Employer Identification Number for Zion Oil & Gas, Inc.?
The IRS Employer Identification Number for Zion Oil & Gas, Inc. is 20-0065053.
Filing Stats: 4,654 words · 19 min read · ~16 pages · Grade level 16.4 · Accepted 2024-11-07 16:30:29
Key Financial Figures
- $0.01 — 9,384 shares of common stock, par value $0.01 per share. INDEX PAGE Page PART I
Filing Documents
- ea0218045-10q_zionoil.htm (10-Q) — 1514KB
- ea021804501ex31-1_zionoil.htm (EX-31.1) — 10KB
- ea021804501ex31-2_zionoil.htm (EX-31.2) — 10KB
- ea021804501ex32-1_zionoil.htm (EX-32.1) — 4KB
- ea021804501ex32-2_zionoil.htm (EX-32.2) — 3KB
- image_001.jpg (GRAPHIC) — 70KB
- 0001213900-24-095430.txt ( ) — 8668KB
- znogw-20240930.xsd (EX-101.SCH) — 73KB
- znogw-20240930_cal.xml (EX-101.CAL) — 43KB
- znogw-20240930_def.xml (EX-101.DEF) — 278KB
- znogw-20240930_lab.xml (EX-101.LAB) — 515KB
- znogw-20240930_pre.xml (EX-101.PRE) — 284KB
- ea0218045-10q_zionoil_htm.xml (XML) — 1685KB
– Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 38
– Quantitative and Qualitative Disclosures About Market Risk
Item 3 – Quantitative and Qualitative Disclosures About Market Risk 47
– Controls and Procedures
Item 4 – Controls and Procedures 47
— OTHER INFORMATION
PART II — OTHER INFORMATION
– Legal Proceedings
Item 1 – Legal Proceedings 48
– Risk Factors
Item 1A – Risk Factors 48
– Unregistered Sales of Equity Securities and Use of Proceeds
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 48
– Defaults upon Senior Securities
Item 3 – Defaults upon Senior Securities 48
– Mine Safety Disclosures
Item 4 – Mine Safety Disclosures 48
– Other Information
Item 5 – Other Information 48
– Exhibits
Item 6 – Exhibits 49 Exhibit Index 49
SIGNATURES
SIGNATURES 50 i Zion Oil & Gas, Inc. Consolidated Condensed Balance Sheets as of September 30, 2024 December 31, 2023 US$ thousands US$ thousands (unaudited) Current assets Cash and cash equivalents 779 615 Fixed short term bank and escrow deposits – restricted 1,068 1,020 Prepaid expenses and other 257 515 Governmental receivables 173 18 Other receivables 140 123 Total current assets 2,417 2,291 Unproved oil and gas properties, full cost method (see Note 4) 21,033 16,637 Property and equipment at cost Drilling rig and related equipment, net of accumulated depreciation of $ 2,627 and $ 2,215 (see note 2I) 4,958 5,510 Property and equipment, net of accumulated depreciation of $ 707 and $ 686 112 74 5,070 5,584 Right of Use Lease Assets (see Note 5) 826 194 Other assets Assets held for severance benefits 520 475 Total other assets 520 475 Total assets 29,866 25,181 Liabilities and Stockholders' Equity Current liabilities Accounts payable 827 777 Insurance financing (see note 6D) 75 432 Lease obligation – current (see Note 5) 145 167 Asset retirement obligation 571 571 Accrued liabilities 462 693 Total current liabilities 2,080 2,640 Long-term liabilities Lease obligation – non-current (see Note 5) 652 24 Provision for severance pay 529 499 Total long-term liabilities 1,181 523 Total liabilities 3,261 3,163 Commitments and contingencies (see Note 6) Stockholders' equity Common stock, par value $ .01 ; Authorized: 1,200,000,000 shares at September 30, 2024: Issued and outstanding: 880,562,128 and 640,002,580 shares at September 30, 2024 and December 31, 2023, respectively 8,806 6,400 Additional paid-in capital 309,975 302,177 Accumulated deficit ( 292,176 ) ( 286,559 ) Total stockholders' equity 26,605 22,018 Total liabilities and stockholders' equity 29,866 25,181 The accompanying notes are an integral part of the unaudited