Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 7

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 7
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 largely successful in winning the battles, including taking operational control of nearly all areas of Gaza and killing many top leaders of Hamas.

On or about January 19, 2025, Israel and Hamas agreed to a ceasefire.  On that day, three hostages were released to Israel’s care and there is a plan to release more hostages over time.

Our faithful supporters know that we operate in Israel and they continue investing through our DSPP.  Approximately $16.3 million was raised during 2024.

ISRAEL-HEZBOLLAH WAR

Throughout the first 4-6 months of 2024, the IDF and Hezbollah (a terrorist organization based in Lebanon) exchanged near daily missile and rocket fire at Israel’s northern border.  During Q3 2024, the IDF carried out multiple strikes against the Hezbollah leadership and was very successful.

On October 1, 2024, Israel invaded Lebanon to attack Hezbollah directly.  Israel and the IDF were successful including killing much of the top leadership of Hezbollah. 

On November 27, 2024, Israel and Hezbollah signed a ceasefire agreement.

      3

Map 1. Zion’s New Megiddo Valleys 434 License as of December 31, 2024.

      4

Zion’s Former Joseph License

Zion has plugged all of its exploratory wells on its former Joseph License area, and the reserve pits have been evacuated, but acknowledges its obligation to complete the abandonment of these well sites in accordance with guidance from the Energy Ministry, Environmental Ministry and local officials.

I-35 Drilling Rig & Associated Equipment  

      I-35 

      Rig 

      Other 

      Drilling 

      Spare 

      Drilling 

      Rig 

      Parts 

      Assets 

      Total 

      US$ 

      US$ 

      US$ 

      US$ 

      thousands 

      thousands 

      thousands 

      thousands 

      December 31, 2022 

     5,225

     619

     437

     6,281

      Asset Additions 

     -

     -

     -

     -

      Asset Depreciation 

     (634
     )

     -

     (126
     )

     (760
     )

      Asset Disposals for Self-Consumption 

     -

     (11
     )

     -

     (11
     )

      December 31, 2023 

     4,591

     608

     311