Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 838

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 838
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 sheets as of  December 31, 2024:

       US$  
   thousands  
 2025   157 
 2026   157 
 2027   152 
 2028   151 
 Thereafter   315 
 Total undiscounted future minimum lease payments   932 
 Less: portion representing imputed interest   (188)
 Total undiscounted future minimum lease payments   744 

   Operating lease costs were $313,000 and $293,000 for the years ended  December 31, 2024, and 2023, respectively. Operating lease costs are included within general and administrative expenses on the statements of income.
    
   Cash paid for amounts included in the measurement of operating lease liabilities was $276,000 and $269,000 for the years ended  December 31, 2024, and 2023, respectively, and this amount is included in operating activities in the statements of cash flows.
    
   Right-of-use assets obtained in exchange for new operating lease liabilities were $829,000 and $252,000 for the years ended  December 31, 2024, and 2023, respectively.

        F-
       42

        Zion Oil & Gas, Inc.

        Notes to Consolidated Financial Statements

   Note 9 - Commitments and Contingencies
    
   A. Securities and Exchange Commission (“SEC”) Investigation
    
   As previously disclosed by the Company, on  June 21, 2018, the Fort Worth Regional Office of the SEC informed Zion that it was conducting a formal, non-public investigation and asked that we provide certain information and documents in connection with its investigation. Since that date, we fully cooperated with the SEC and furnished all requested documentation.
    
   On  April 5, 2023, the Company received from the Fort Worth Regional Office of the SEC written notice to the Company concluding the investigation as to the Company and advising that the SEC does “not intend to recommend an enforcement action by the Commission against Zion.”
    
   B. Litigation 
    
   From time to time, the Company  may be subject to routine litigation, claims or disputes in the ordinary course of business. The Company defends itself vigorously in all such matters. However, we cannot predict the outcome or effect of any of the potential litigation, claims or disputes. 
    
   The Company is not subject to any litigation at