Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 168

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9
Chunk 168
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 and restricted cash   1,701   (1,479)
 Cash, cash equivalents and restricted cash – beginning of period   1,635   3,114 
 Cash, cash equivalents and restricted cash – end of period   3,336   1,635 
         
 Non-cash investing and financing activities:         
 Unpaid investments in oil and gas properties   604   670 
 Depreciation of oil and gas equipment   23   32 
 Unpaid Costs associated with the issuance of shares   167   167 
 Addition of right of use lease assets and lease obligations   829   252 

The accompanying notes are an integral part of the consolidated financial statements.

      F-6

Cash, cash equivalents and restricted cash, are comprised as follows:

      December 31,    December 31,  
   2024    2023  
   US$    US$  
   thousands    thousands  
 Cash and cash equivalents   2,272   615 
 Cash and cash equivalents - restricted    1,064   1,020 
   3,336   1,635 

      F-7

      Zion Oil & Gas, Inc.

      Notes to Consolidated Financial Statements

   Note 1 - Nature of Operations and Going Concern
    
   A. Nature of Operations
    
   Zion Oil & Gas, Inc., a Delaware corporation (“we,” “our,” “Zion” or the “Company”) is an oil and gas exploration company with a history of 25 years of oil & gas exploration in Israel. As of  December 31, 2024, the Company has no revenues from its oil and gas operations.
    
   Zion maintains its corporate headquarters in Dallas, Texas. The Company also has branch offices in Caesarea, Israel and Geneva, Switzerland. The purpose of the Israel branch is to support the Company’s operations in Israel, and the purpose of the Switzerland branch is to operate a foreign treasury center for the Company.
    
   On  January 24, 2020, Zion incorporated a wholly owned subsidiary, Zion Drilling, Inc., a Delaware corporation, for the purpose of owning a drilling rig, related equipment and spare parts, and on  January 31, 2020, Zion incorporated another wholly owned subsidiary, Zion Drilling Services, Inc., a Delaware corporation, to act as the contractor providing such