Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 533

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 533
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 We have served as the Company’s auditor since 2018. PCAOB ID 587 
 Las Vegas, NV  
 March 27, 2025  

    F-2

Zion Oil & Gas, Inc.

Consolidated Balance Sheets as of

      December 31,    December 31,  
   2024    2023  
   US$    US$  
   thousands    thousands  
 Current assets         
 Cash and cash equivalents   2,272   615 
 Cash and cash equivalents – restricted   1,064   1,020 
 Prepaid expenses and other   567   515 
 Governmental receivables   19   18 
 Other receivables   8   123 
 Total current assets   3,930   2,291 
         
 Unproved oil and gas properties, full cost method (see Note 4)   21,682   16,637 
         
 Property and equipment at cost         
 Drilling rig and related equipment, net of accumulated depreciation of $2,807 and $2,215 (see note 2P)   4,778   5,510 
 Property and equipment, net of accumulated depreciation of $714 and $686   104   74 
   4,882   5,584 
         
 Right of Use Lease Assets (see Note 8)   759   194 
         
 Other assets         
 Assets held for severance benefits   541   475 
 Total other assets   541   475 
         
 Total assets   31,794   25,181 
         
 Liabilities and Stockholders’ Equity         
         
 Current liabilities         
 Accounts payable   604   777 
 Insurance financing (see note 9G)   490   432 
 Lease obligation – current (see Note 8)   107   167 
 Asset retirement obligation   571   571 
 Accrued liabilities   456   693 
 Total current liabilities   2,228   2,640 
         
 Long-term liabilities         
 Lease obligation – non-current (see Note 8)   637   24 
 Provision for severance pay   548   499 
 Total long-term liabilities   1,185   523 
         
 Total liabilities   3,413