Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 318

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9A
Chunk 318
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152 
 2028 and thereafter   278 
   744 

   G. Insurance Financing
    
   Effective  November 16, 2023, the Company renewed its third-party liability (“TPL”) insurance policy in Israel with total premiums, taxes and fees for approximately $76,000. A cash down payment of approximately $23,000 was paid on  November 16, 2023. Under the terms of the insurance financing, payments of approximately $5,000, which include interest at the rate of 13.99% per annum, are due each month for 10 months commencing on  December 16, 2023. The Company has completed its financing commitment pertaining to the TPL insurance as of  September 30, 2024.
    
   Effective  December 28, 2023, the Company renewed its D&O insurance policy with total premiums, taxes and fees for approximately $442,000. A cash down payment of approximately $69,000 was paid on  December 13, 2023. Under the terms of the insurance financing, payments of approximately $37,000, which include interest at the rate of 13.4% per annum, are due each month for 10 months commencing on  January 28, 2024. As of  December 31, 2024, this was fully paid off.
    
   Effective  March 12, 2024, the Company renewed its rig insurance policy with total premiums, taxes and fees for approximately $95,000. A cash down payment of approximately $38,000 was paid on  February 23, 2024. Under the terms of the insurance financing, payments of approximately $9,000, which include interest at the rate of 13.99% per annum, are due each month for 10 months commencing on  April 12, 2024. As of  December 31, 2024, the outstanding balance was approximately $9.000.
    
   Effective  November 18, 2024, the Company renewed its third party liability policy in Israel with total premiums, taxes and fees for approximately $76,000. A cash down payment of approximately $20,000 was paid on  November 18, 2024. Under the terms of the insurance financing, payments of approximately $5,000, which include interest at the rate of 12