2023 Q4 Form 10-Q Financial Statement

#000121390023085255 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $0.00 $16.00K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.736M $1.710M $2.338M
YoY Change -25.75% -27.39% 29.6%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $167.0K $190.0K $201.0K
YoY Change -16.92% -5.47% 7.49%
% of Gross Profit
Operating Expenses $1.736M $1.710M $2.338M
YoY Change -25.75% -27.39% 29.6%
Operating Profit -$1.747M
YoY Change -25.82%
Interest Expense $1.000K $0.00 $13.00K
YoY Change -92.31% -100.0% 550.0%
% of Operating Profit
Other Income/Expense, Net $2.000K
YoY Change -111.76%
Pretax Income -$1.741M -$1.743M -$47.94M
YoY Change -96.37% -26.58% 2560.38%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.741M -$1.743M -$47.94M
YoY Change -96.37% -26.58% 2560.38%
Net Earnings / Revenue -10893.75%
Basic Earnings Per Share -$3.00
Diluted Earnings Per Share $0.00 -$3.00 -$0.09
COMMON SHARES
Basic Shares Outstanding 605.3M shares 579.1M shares 514.6M shares
Diluted Shares Outstanding 578.5M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $615.0K $510.0K $1.735M
YoY Change -64.55% -83.44% -62.95%
Cash & Equivalents $615.0K $510.0K $1.735M
Short-Term Investments
Other Short-Term Assets $483.0K
YoY Change -21.72%
Inventory
Prepaid Expenses
Receivables
Other Receivables $123.0K $156.0K $143.0K
Total Short-Term Assets $2.291M $1.929M $4.607M
YoY Change -50.27% -68.21% -46.68%
LONG-TERM ASSETS
Property, Plant & Equipment $5.584M $5.781M $112.0K
YoY Change 4885.71% 4600.0% -18.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $475.0K $436.0K $424.0K
YoY Change 12.03% 6.34% -21.63%
Total Long-Term Assets $22.89M $22.81M $22.91M
YoY Change -0.08% -65.66% -58.19%
TOTAL ASSETS
Total Short-Term Assets $2.291M $1.929M $4.607M
Total Long-Term Assets $22.89M $22.81M $22.91M
Total Assets $25.18M $24.73M $27.52M
YoY Change -8.48% -65.88% -56.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $777.0K $862.0K $2.147M
YoY Change -63.81% -51.74% -22.85%
Accrued Expenses $693.0K $412.0K $1.032M
YoY Change -32.85% -73.32% -42.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.640M $2.037M $3.946M
YoY Change -33.1% -50.65% -26.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $523.0K $520.0K $469.0K
YoY Change 11.51% 6.56% -34.59%
Total Long-Term Liabilities $523.0K $520.0K $469.0K
YoY Change 11.51% 6.56% -34.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.640M $2.037M $3.946M
Total Long-Term Liabilities $523.0K $520.0K $469.0K
Total Liabilities $3.163M $2.557M $4.415M
YoY Change -28.36% -44.61% -27.09%
SHAREHOLDERS EQUITY
Retained Earnings -$286.6M -$285.0M -$278.6M
YoY Change 2.87% 23.56% 24.64%
Common Stock $308.6M $307.0M $301.7M
YoY Change 2.28% 2.84% 7.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.02M $22.18M $23.10M
YoY Change
Total Liabilities & Shareholders Equity $25.18M $24.73M $27.52M
YoY Change -8.48% -65.88% -56.62%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income -$1.741M -$1.743M -$47.94M
YoY Change -96.37% -26.58% 2560.38%
Depreciation, Depletion And Amortization $167.0K $190.0K $201.0K
YoY Change -16.92% -5.47% 7.49%
Cash From Operating Activities -$1.223M -$1.520M -$985.0K
YoY Change 24.16% 17.37% 6.49%
INVESTING ACTIVITIES
Capital Expenditures $1.000K $0.00 $27.00K
YoY Change -96.3% -100.0% -140.3%
Acquisitions
YoY Change
Other Investing Activities -$303.0K -$320.0K -$2.907M
YoY Change -89.58% -93.41% -58.21%
Cash From Investing Activities -$304.0K -$320.0K -$2.934M
YoY Change -89.64% -93.45% -58.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.638M 1.800M 2.660M
YoY Change -38.42% -48.26% -67.03%
NET CHANGE
Cash From Operating Activities -1.223M -1.520M -985.0K
Cash From Investing Activities -304.0K -320.0K -2.934M
Cash From Financing Activities 1.638M 1.800M 2.660M
Net Change In Cash 111.0K -40.00K -1.259M
YoY Change -108.82% -98.52% -1157.98%
FREE CASH FLOW
Cash From Operating Activities -$1.223M -$1.520M -$985.0K
Capital Expenditures $1.000K $0.00 $27.00K
Free Cash Flow -$1.224M -$1.520M -$1.012M
YoY Change 20.95% 20.06% 17.95%

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Warrants
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us-gaap Proceeds From Issuance Of Warrants
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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5952000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1530000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4373000 usd
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677000 usd
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2723000 usd
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17000 usd
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252000 usd
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136000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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510000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3079000 usd
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FixedShortTermBankAndEscrowDepositsRestrictedCurrent
1020000 usd
CY2022Q3 zn Fixed Short Term Bank And Escrow Deposits Restricted Current
FixedShortTermBankAndEscrowDepositsRestrictedCurrent
1294000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1530000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Nature Of Operations
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 - Nature of Operations, Basis of Presentation and Going Concern</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A. Nature of Operations</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zion Oil &amp; Gas, Inc., a Delaware corporation (“we,” “our,” “Zion” or the “Company”) is an oil and gas exploration company with a history of 23 years of oil &amp; gas exploration in Israel. As of September 30, 2023, the Company has no revenues from its oil and gas operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 drilling services. When Zion is not using the rig for its own exploration activities, Zion Drilling Services may contract with other operators in Israel to provide drilling services at market rates then in effect.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zion has the trademark “ZION DRILLING” filed with the United States Patent and Trademark Office. Zion has the trademark filed with the World Intellectual Property Organization in Geneva, Switzerland, pursuant to the Madrid Agreement and Protocol. In addition, Zion has the trademark filed with the Israeli Trademark Office in Israel.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Exploration Rights/Exploration Activities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>New Megiddo Valleys License 434 (“NMVL 434”)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The New Megiddo License 428 (“NML 428”) was initially awarded on December 3, 2020 for a six-month term and was extended several times before expiring on February 1, 2023. Zion Oil &amp; Gas, Inc. filed an amended application with the Israel Ministry of Energy for a new exploratory license on January 24, 2023 covering the same area as its License No. 428, which expired on February 1, 2023. However, its original application to replace License No. 428 was filed on May 11, 2022, and a revised application was filed on August 29, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 14, 2023, the Israel Ministry of Energy approved a new Megiddo Valleys License 434 (“NMVL 434”), allowing for oil and gas exploration on approximately 75,000 acres or 302 square kilometers. This Exploration License 434 will be valid for three years until September 13, 2026 with four 1-year extensions for a total of seven years until September 13, 2030. This NMVL 434 effectively supersedes our previous NML 428.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We continue our exploration focus here based on our studies as it appears to possess the key geologic ingredients of an active petroleum system with significant exploration potential.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Zion is deploying new technologies, focusing on new stimulation methods for MJ-01, and aiming to potentially unlock hydrocarbon flows in several identified key zones. Zion has already procured service contractors and ancillary items required for efficient operations. Zion must receive approval of its work plan from the Ministry of Energy prior to commencing its re-completion activities. Zion’s planned activities are currently suspended as a result of the Israel-Hamas war (See Subsequent Events for further insight).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B. Basis of Presentation</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited interim consolidated condensed financial statements of Zion Oil &amp; Gas, Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with Article 8-03 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring accruals necessary for a fair statement of financial position, results of operations and cash flows, have been included. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the financial statements and the accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. The year-end balance sheet data presented for comparative purposes was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the operating results for the year ending December 31, 2023 or for any other subsequent interim period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C. Going Concern</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company incurs cash outflows from operations, and all exploration activities and overhead expenses to date have been financed by way of equity or debt financing. The recoverability of the costs incurred to date is uncertain and dependent upon achieving significant commercial production of hydrocarbons.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s ability to continue as a going concern is dependent upon obtaining the necessary financing to undertake further exploration and development activities and ultimately generating profitable operations from its oil and natural gas interests in the future. While the Company is still actively engaging service providers in planning activities for the re-completion of the MJ-01 well, our activities are temporarily suspended due to the Israel-Hamas war. War was declared by Israel on Hamas following the October 7, 2023 invasion by Hamas in southern Israel. It is not known how long this war will last and, therefore, we cannot predict with certainty when our exploration activities will resume. The Company’s current operations are dependent upon the adequacy of its current assets to meet its current expenditure requirements and the accuracy of management’s estimates of those requirements. Should those estimates be materially incorrect, the Company’s ability to continue as a going concern may be impaired. The consolidated financial statements have been prepared on a going concern basis, which contemplates realization of assets and liquidation of liabilities in the ordinary course of business. During the nine months ended September 30, 2023, the Company incurred a net loss of approximately $6.2 million and had an accumulated deficit of approximately $285 million. These factors raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date the financials were issued.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To carry out planned operations, the Company must raise additional funds through additional equity and/or debt issuances or through profitable operations. There can be no assurance that this capital or positive operational income will be available to the Company, and if it is not, the Company may be forced to curtail or cease exploration and development activities. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.</span></p>
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CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B. Use of Estimates</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the accompanying consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of expenses. Such estimates include the valuation of unproved oil and gas properties, deferred tax assets, asset retirement obligations, borrowing rate of interest consideration for leases accounting and legal contingencies. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Illiquid credit markets, volatile equity, foreign currency, regional hostilities and energy markets have combined to increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates resulting from continuing changes in the economic and operating environment will be reflected in the consolidated financial statements in future periods.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">See comments in our Subsequent Events for the impact of the Israel-Hamas war on our business and future operations.</p>
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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CY2023Q3 us-gaap Depreciation Depletion And Amortization
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CY2022Q3 us-gaap Depreciation Depletion And Amortization
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(i) the number of Common Stock shares represented by the high-low average on the purchase date and (ii) Common Stock purchase warrants to purchase an additional twenty-five (25) shares of Common Stock at a per share exercise price of $1.00. The investor’s Plan account was credited with the number of shares of the Company’s Common Stock and Warrants acquired under the Units purchased. For Plan participants who enrolled into the Unit Program with the purchase of at least one Unit or who enrolled in the separate Automatic Monthly Investments (“AMI”) program at a minimum of $50.00 per month or more, received an additional ten (10) warrants at an exercise price of $1.00 during this Unit Option Program. The ten (10) additional warrants were for enrolling into the AMI program. Existing subscribers to the AMI were also entitled to the additional ten (10) warrants once, provided that they purchased at least one (1) unit during the Unit program. Each warrant affords the participant the opportunity to purchase one share of our Common Stock at a warrant exercise price of $1.00. The warrant is referred to as “ZNWAN.
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us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
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CY2022Q4 us-gaap Acquisition Costs Cumulative
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CY2022Q4 us-gaap Other Oil And Gas Property Successful Effort Method
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CY2023Q3 us-gaap Oil And Gas Property Full Cost Method Net
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16342000 usd
CY2022Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
15889000 usd
CY2023Q3 zn Drilling Costs And Other Operational Related Costsimpairmentofunprovedoilandgasproperties
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20000 usd
zn Drilling Costs And Other Operational Related Costsimpairmentofunprovedoilandgasproperties
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76000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
53000 usd
CY2023Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
36000 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
129000 usd
CY2023Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
58000 usd
CY2022Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
5350000 usd
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
204000 usd
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
10666000 usd
CY2023Q3 zn Capitalized Salary Costschangesinunprovedoilandgasproperties
CapitalizedSalaryCostschangesinunprovedoilandgasproperties
25000 usd
CY2022Q3 zn Capitalized Salary Costschangesinunprovedoilandgasproperties
CapitalizedSalaryCostschangesinunprovedoilandgasproperties
30000 usd
zn Capitalized Salary Costschangesinunprovedoilandgasproperties
CapitalizedSalaryCostschangesinunprovedoilandgasproperties
77000 usd
zn Capitalized Salary Costschangesinunprovedoilandgasproperties
CapitalizedSalaryCostschangesinunprovedoilandgasproperties
151000 usd
CY2023Q3 zn Increase Decrease In Legal Costs License Fees And Preparation Costs
IncreaseDecreaseInLegalCostsLicenseFeesAndPreparationCosts
103000 usd
CY2022Q3 zn Increase Decrease In Legal Costs License Fees And Preparation Costs
IncreaseDecreaseInLegalCostsLicenseFeesAndPreparationCosts
586000 usd
zn Increase Decrease In Legal Costs License Fees And Preparation Costs
IncreaseDecreaseInLegalCostsLicenseFeesAndPreparationCosts
301000 usd
zn Increase Decrease In Legal Costs License Fees And Preparation Costs
IncreaseDecreaseInLegalCostsLicenseFeesAndPreparationCosts
1402000 usd
CY2023Q3 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
36000 usd
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PaymentsToAcquireOilAndGasProperty
129000 usd
CY2023Q3 zn Increase Decrease In Capitalized Costs Of Unproved Properties Excluded From Amortization Period Cost
IncreaseDecreaseInCapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationPeriodCost
150000 usd
CY2022Q3 zn Increase Decrease In Capitalized Costs Of Unproved Properties Excluded From Amortization Period Cost
IncreaseDecreaseInCapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationPeriodCost
5966000 usd
CY2023Q3 zn Inclusive Non Cash Amount
InclusiveNonCashAmount
129000 usd
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InclusiveNonCashAmount
1032000 usd
zn Inclusive Non Cash Amount
InclusiveNonCashAmount
677000 usd
zn Inclusive Non Cash Amount
InclusiveNonCashAmount
2740000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
246000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
202000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
192000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
196000 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
53000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
12000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
245000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
208000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y29D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.059 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
75000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
178000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
253000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
245000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
76000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
203000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
69000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
206000 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
76000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
203000 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
71000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
214000 usd
CY2023Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
252000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
252000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
136000 usd
CY2023Q3 zn Bank Guarantees To Government
BankGuaranteesToGovernment
930000 usd
CY2023Q3 zn Bank Guarantees To Others
BankGuaranteesToOthers
85000 usd
CY2023Q3 us-gaap Other Commitment
OtherCommitment
1015000 usd
CY2023Q3 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
8.7 pure
CY2022Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
13.2 pure
CY2023Q3 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
1530000 usd
CY2023Q3 us-gaap Short Term Debt Weighted Average Interest Rate Over Time
ShortTermDebtWeightedAverageInterestRateOverTime
0.0445 pure
us-gaap Short Term Debt Weighted Average Interest Rate Over Time
ShortTermDebtWeightedAverageInterestRateOverTime
0.0351 pure
CY2023Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
usd
us-gaap Impairment Of Oil And Gas Properties
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usd
us-gaap Payments To Acquire Property Plant And Equipment
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zn Acquisition Of Drilling Rig And Related Equipment
AcquisitionOfDrillingRigAndRelatedEquipment
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us-gaap Payments Of Stock Issuance Costs
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zn Cost Of Options Capitalized To Oil Gas Properties
CostOfOptionsCapitalizedToOilGasProperties
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us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
usd
CY2020Q4 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
1.00
CY2023Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
50 shares
CY2022Q3 zn Drilling Costs And Other Operational Related Costsimpairmentofunprovedoilandgasproperties
DrillingCostsAndOtherOperationalRelatedCostsimpairmentofunprovedoilandgasproperties
usd
zn Drilling Costs And Other Operational Related Costsimpairmentofunprovedoilandgasproperties
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usd
CY2023Q3 zn Capitalized Salary Costsimpairmentofunprovedoilandgasproperties
CapitalizedSalaryCostsimpairmentofunprovedoilandgasproperties
usd
CY2022Q3 zn Capitalized Salary Costsimpairmentofunprovedoilandgasproperties
CapitalizedSalaryCostsimpairmentofunprovedoilandgasproperties
usd
zn Capitalized Salary Costsimpairmentofunprovedoilandgasproperties
CapitalizedSalaryCostsimpairmentofunprovedoilandgasproperties
usd
CY2023Q3 zn Capitalized Interest Costsimpairmentofunprovedoilandgasproperties
CapitalizedInterestCostsimpairmentofunprovedoilandgasproperties
usd
CY2022Q3 zn Capitalized Interest Costsimpairmentofunprovedoilandgasproperties
CapitalizedInterestCostsimpairmentofunprovedoilandgasproperties
usd
zn Capitalized Interest Costsimpairmentofunprovedoilandgasproperties
CapitalizedInterestCostsimpairmentofunprovedoilandgasproperties
usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
usd
CY2023Q3 zn Other Costs Impairmentof Unproved Oiland Gas Properties
OtherCostsImpairmentofUnprovedOilandGasProperties
usd
CY2022Q3 zn Other Costs Impairmentof Unproved Oiland Gas Properties
OtherCostsImpairmentofUnprovedOilandGasProperties
usd
zn Other Costs Impairmentof Unproved Oiland Gas Properties
OtherCostsImpairmentofUnprovedOilandGasProperties
usd
CY2022Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
usd
CY2023Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
usd
CY2022Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
usd
CY2023Q3 zn Other Utility Cost
OtherUtilityCost
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CY2022Q3 zn Other Utility Cost
OtherUtilityCost
usd
zn Other Utility Cost
OtherUtilityCost
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CY2022Q3 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
usd
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
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zn Increase Decrease In Capitalized Costs Of Unproved Properties Excluded From Amortization Period Cost
IncreaseDecreaseInCapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationPeriodCost
usd
zn Increase Decrease In Capitalized Costs Of Unproved Properties Excluded From Amortization Period Cost
IncreaseDecreaseInCapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationPeriodCost
usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
usd
CY2022Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
usd
zn License Cost
LicenseCost
usd
CY2022 zn License Cost
LicenseCost
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001131312

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f10q0923ex10-1_zionoil.htm Edgar Link pending
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f10q0923ex32-1_zionoil.htm Edgar Link pending
f10q0923ex32-2_zionoil.htm Edgar Link pending
f10q0923_zionoil.htm Edgar Link pending
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zn-20230930.xsd Edgar Link pending
zn-20230930_cal.xml Edgar Link unprocessable
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f10q0923_zionoil_htm.xml Edgar Link completed