Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 932

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7A
Chunk 932
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 Hezbollah signed a ceasefire agreement.  As of the date of this report, both sides are holding to its terms.
    
   Due to Russia’s invasion of Ukraine, which began in  February 2022, and the resulting sanctions and other actions against Russia and Belarus, there has been uncertainty and disruption in the global economy. Although the Russian war against Ukraine did not have a material adverse impact on the Company’s financial results for the quarter ended  September 30, 2024, at this time the Company is unable to fully assess the aggregate impact the Russian war against Ukraine will have on its business due to various uncertainties, which include, but are not limited to, the duration of the war, the war’s effect on the global economy, future energy pricing, its impact on the businesses of the Company and actions that  may be taken by governmental authorities related to the war.
    
   There is uncertainty as to how long the war inside the Gaza strip will last. While we acknowledge that uncertainty, the Company is moving forward with its planning and logistics activities. We are working with our international service providers on projected availability timelines and other details. All of these key vendors have expressed willingness to assist Zion in its exploration activities. It is important to note that Zion’s license area is not located near any current combat zones.

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        Zion Oil & Gas, Inc.

        Notes to Consolidated Financial Statements

   Note 10 - Risks and Uncertainties
    
   We are directly influenced by the political, economic and military conditions affecting Israel.
    
   We cannot predict the effect, if any, on our business of renewed hostilities between Israel and its neighbors or any other changes in the political climate in the area. Deterioration of political, economic and security conditions in Israel  may adversely affect our operations.
    
   We are subject to increasing Israeli governmental regulations and environmental requirements that  may cause us to incur substantial incremental costs and/or delays in our drilling program.
    
   Newly enacted onshore licensing and environmental and safety related regulations promulgated by the various energy related ministries in Israel during 2023-2024 have rendered obtaining and drilling under new exploration licenses more time-consuming and expensive.
    
   The Company believes that these new and/or revised regulations will also significantly increase the time, effort, and expenditures associated with obtaining all of the necessary authorizations and approvals prior to drilling and production testing its current and any subsequent well(s).
    
   Economic risks