Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 323

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9A
Chunk 323
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 NIS). Continued strengthening of the US dollar against the NIS will result in lower operating costs from NIS denominated expenses. To date, we have not hedged any of our currency exchange rate risks, but we  may do so in the future.
    
   Interest Rate Risk. Our exposure to market risk relates to our cash and investments. We maintain an investment portfolio of short-term bank deposits and money market funds. The securities in our investment portfolio are not leveraged, and are, due to their very short-term nature, subject to minimal interest rate risk. We currently do not hedge interest rate exposure. Because of the short-term maturities of our investments, we do not believe that a change in market interest rates would have a significant negative impact on the value of our investment portfolio except for reduced income in a low interest rate environment. At  December 31, 2024, we had cash, cash equivalents and short-term and long-term bank deposits of approximately $3,336,000. The weighted average annual interest rate related to our cash and cash equivalents for the year ended  December 31, 2024, exclusive of funds at US banks that earn no interest, was approximately 2.9%. At  December 31, 2023, we had cash, cash equivalents and short-term and long-term bank deposits of approximately $1,635,000. The weighted average annual interest rate related to our cash and cash equivalents for the year ended  December 31, 2023, exclusive of funds at US banks that earn no interest, was approximately 3.7%.
    
   The primary objective of our investment activities is to preserve principal while at the same time maximizing yields without significantly increasing risk. To achieve this objective, we invest our excess cash in short-term bank deposits and money market funds that  may invest in high quality debt instruments.

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        Zion Oil & Gas, Inc.

        Notes to Consolidated Financial Statements

   Note 11 - Selected Quarterly Information (Unaudited)
    
   The following represents selected quarterly consolidated financial information for 2024 and 2023:

       For the three months ended  
   March 31    June 30    September 30    December 31  
   US$    US$    US$    US$  
   thousands    thousands    thousands    thousands  
 2024:                 
 Oil and gas sales   -