Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 8

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 8
---
 5,510

      Asset Additions 

     -

     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

Exploration Expenditures 

The following table summarizes the amounts we expended on our exploration efforts between 2023 and 2024:

      2024 

      2023 

      US$ 

      US$ 

      (000) 

      (000) 

      I-35 Drilling Rig & Associated Equipment 

     178

     -

      New Megiddo Valleys License 434: 

      Exploratory drilling operations 

     2,984

     327

      Equipment and inventory purchases 

     1,145

     97

      Environmental, geological & geophysical operations 

     72

     8

      Location construction and maintenance 

     844

     450

      Total 

     5,223

     882

      5

Employees & Contractors  

As of December 31, 2024, we had 20 employees and contractors of whom all but one are on a full-time basis. Of the 20 total headcount, 14 work out of our Dallas office and 6 work out of the Caesarea, Israel office. None of our current employees or contractors are subject to any collective bargaining agreements, and there have been no strikes.

We regularly utilize independent consultants and contractors to perform various professional services, particularly for services connected to drilling operations, such as specialized drilling, health and safety, engineering, logging, cementing and well-testing.

Competition and Markets  

The oil and gas exploration industry in Israel currently consists of a number of exploration companies. These include relatively small local or foreign companies (such as Zion Oil & Gas, Givot Olam, and Globe Exploration), as well as larger consortia of local Israeli and foreign participants (Noble Energy Inc./Delek Group Ltd.). Most groups are engaged primarily in offshore activities, which is not an area in which we are