Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 267

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9A
Chunk 267
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 -   178   -   178 
                 
 Asset Depreciation   (634)  -   (139)  (773)
                 
 Asset Disposals   -   -   (98)  (98)
                 
 Asset Disposals for Self-Consumption   -   (39)  -   (39)
                 
 December 31, 2024   3,957   747   74   4,778 

        F-
       14

        Zion Oil & Gas, Inc.

        Notes to Consolidated Financial Statements

   Note 2 - Summary of Significant Accounting Policies (cont’d)
    
          Q. Other Comprehensive Income
    
   The Company does not have any activity that results in Other Comprehensive Income.
    
   R. Recently Adopted Accounting Pronouncements
    
   In  November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The ASU improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses among other disclosure requirements. ASU 2023-07 is effective for fiscal years beginning after  December 15, 2023, and interim periods within fiscal years beginning after  December 15, 2024. Early adoption is permitted. The amendments will be applied retrospectively to all prior periods presented in the financial statements. Zion adopted this ASU effective  January 1, 2023. The adoption of this ASU did not have any impact on its consolidated financial statements.
    
   Other Recent Accounting Pronouncements
    
   The Company does not believe that the adoption of any recently issued accounting pronouncements in 2024 had a significant impact on our consolidated financial position, results of operations, or cash flow.
    
   S. Operating Segments
    
   The Company has one operating segment and its Chief Operating Decision Maker (“CODM”) is its CEO.  Consistent with its mission and vision, the Company explores for hydrocarbons in onshore Israel. The CODM manages exploration activities considering the following areas, at a minimum: (1) geological prospects within its license area and related feasibility to produce hydrocarbons, (2) the regulatory, administrative and political climate in Israel, (3) competition is Israel, (4)