Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 419

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 15
Chunk 419
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   (30)  90 
 Accrued liabilities   (66)  (21)
 Net cash used in operating activities   (6,230)  (5,133)
         
 Cash flows from investing activities         
 Acquisition of property and equipment   (59)  (1)
 Proceeds from sale of property and equipment   35   - 
 Acquisition of drilling rig and related equipment   (178)  - 
 Investment in unproved oil and gas properties   (5,072)  (2,353)
 Net cash used in investing activities   (5,274)  (2,354)
         
 Cash flows from financing activities         
 Proceeds from exercise of stock options   36   12 
 Costs paid related to the issuance of new shares   (3,088)  (953)
 Proceeds from issuance of stock and exercise of warrants   16,257   6,949 
 Net cash provided by financing activities   13,205   6,008 
         
 Net decrease in cash, cash equivalents 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