2024 Q2 Form 10-Q Financial Statement
#000121390024040902 Filed on May 08, 2024
Income Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $34.00K |
YoY Change | -100.0% | -100.0% | |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $2.083M | $1.774M | $2.086M |
YoY Change | -8.92% | -14.96% | -2.8% |
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $225.0K | $192.0K | $200.0K |
YoY Change | 11.94% | -4.0% | 2.56% |
% of Gross Profit | |||
Operating Expenses | $2.083M | $1.774M | $2.086M |
YoY Change | -8.92% | -14.96% | -2.8% |
Operating Profit | -$2.083M | -$1.774M | -$2.131M |
YoY Change | -10.79% | -16.75% | -0.7% |
Interest Expense | $19.00K | $12.00K | -$6.000K |
YoY Change | 533.33% | -300.0% | -70.0% |
% of Operating Profit | |||
Other Income/Expense, Net | $9.000K | -$9.000K | -$6.000K |
YoY Change | 200.0% | 50.0% | |
Pretax Income | -$2.064M | -$1.762M | -$2.139M |
YoY Change | -11.57% | -17.63% | -1.25% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$2.064M | -$1.800M | -$2.139M |
YoY Change | -11.57% | -15.85% | -1.25% |
Net Earnings / Revenue | -6291.18% | ||
Basic Earnings Per Share | $0.00 | $0.00 | -$4.00 |
Diluted Earnings Per Share | $0.00 | $0.00 | -$4.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 733.5M shares | 676.0M shares | 530.1M shares |
Diluted Shares Outstanding | 745.6K shares | 667.0K shares | 531.0M shares |
Balance Sheet
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $2.461M | $1.115M | $799.0K |
YoY Change | 375.1% | 39.55% | -90.28% |
Cash & Equivalents | $2.461M | $1.115M | $799.0K |
Short-Term Investments | |||
Other Short-Term Assets | $1.774M | $1.446M | $155.0K |
YoY Change | 832.9% | -95.06% | |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | $143.0K | $445.0K | |
Total Short-Term Assets | $4.495M | $3.033M | $3.060M |
YoY Change | 111.43% | -0.88% | -78.26% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $5.121M | $5.394M | $102.0K |
YoY Change | 5527.47% | 5188.24% | -99.82% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $491.0K | $489.0K | $425.0K |
YoY Change | 12.1% | 15.06% | -23.15% |
Total Long-Term Assets | $24.32M | $23.78M | $22.80M |
YoY Change | 7.18% | 4.31% | -59.15% |
TOTAL ASSETS | |||
Total Short-Term Assets | $4.495M | $3.033M | $3.060M |
Total Long-Term Assets | $24.32M | $23.78M | $22.80M |
Total Assets | $28.81M | $26.82M | $25.86M |
YoY Change | 16.11% | 3.7% | -63.0% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $983.0K | $674.0K | $2.017M |
YoY Change | -12.31% | -66.58% | 72.84% |
Accrued Expenses | $526.0K | $617.0K | $495.0K |
YoY Change | -27.85% | 24.65% | -18.32% |
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 | $2.495M | $2.474M | $3.208M |
YoY Change | 0.28% | -22.88% | 36.86% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $1.180M | $1.214M | $473.0K |
YoY Change | 147.38% | 156.66% | -31.35% |
Total Long-Term Liabilities | $1.180M | $1.214M | $473.0K |
YoY Change | 147.38% | 156.66% | -31.35% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.495M | $2.474M | $3.208M |
Total Long-Term Liabilities | $1.180M | $1.214M | $473.0K |
Total Liabilities | $3.675M | $3.688M | $3.681M |
YoY Change | 23.95% | 0.19% | 21.36% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$290.0M | -$288.0M | -$280.7M |
YoY Change | 2.45% | 2.59% | |
Common Stock | $316.5M | $311.4M | $302.9M |
YoY Change | 3.8% | 2.82% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $25.14M | $23.13M | $22.18M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $28.81M | $26.82M | $25.86M |
YoY Change | 16.11% | 3.7% | -63.0% |
Cashflow Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$2.064M | -$1.800M | -$2.139M |
YoY Change | -11.57% | -15.85% | -1.25% |
Depreciation, Depletion And Amortization | $225.0K | $192.0K | $200.0K |
YoY Change | 11.94% | -4.0% | 2.56% |
Cash From Operating Activities | -$1.772M | -$2.003M | -$917.0K |
YoY Change | 20.14% | 118.43% | -56.15% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $58.00K | $7.000K | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$500.0K | -$317.0K | -$838.0K |
YoY Change | -43.88% | -62.17% | -77.14% |
Cash From Investing Activities | -$558.0K | -$324.0K | -$838.0K |
YoY Change | -37.37% | -61.34% | -77.94% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 3.709M | $2.838M | $800.0K |
YoY Change | 110.14% | 254.75% | -91.51% |
NET CHANGE | |||
Cash From Operating Activities | -1.772M | -$2.003M | -$917.0K |
Cash From Investing Activities | -558.0K | -$324.0K | -$838.0K |
Cash From Financing Activities | 3.709M | $2.838M | $800.0K |
Net Change In Cash | 1.379M | $511.0K | -$955.0K |
YoY Change | -329.45% | -153.51% | -126.99% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.772M | -$2.003M | -$917.0K |
Capital Expenditures | $58.00K | $7.000K | |
Free Cash Flow | -$1.830M | -$2.010M | -$917.0K |
YoY Change | 24.07% | 119.19% | -53.14% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
667023 | shares |
CY2024Q1 | us-gaap |
Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
|
usd | |
CY2024Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.00 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.00 | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
531023 | shares |
CY2024Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2024Q1 | dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | |
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Document Period End Date
DocumentPeriodEndDate
|
2024-03-31 | |
CY2024Q1 | dei |
Document Fiscal Year Focus
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|
2024 | |
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Document Transition Report
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|
false | |
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Entity Registrant Name
EntityRegistrantName
|
ZION OIL & GAS, INC. | |
CY2024Q1 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | |
CY2024Q1 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
20-0065053 | |
CY2024Q1 | dei |
Entity Address Address Line1
EntityAddressAddressLine1
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12655 N Central Expressway | |
CY2024Q1 | dei |
Entity Address Address Line2
EntityAddressAddressLine2
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Suite 1000 | |
CY2024Q1 | dei |
Entity Address City Or Town
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Dallas | |
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Entity Address State Or Province
EntityAddressStateOrProvince
|
TX | |
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Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
75243 | |
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City Area Code
CityAreaCode
|
(214) | |
CY2024Q1 | dei |
Local Phone Number
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|
221-4610 | |
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Security12b Title
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N/A | |
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No Trading Symbol Flag
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true | |
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Entity Current Reporting Status
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Yes | |
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Yes | |
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Non-accelerated Filer | |
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Oil And Gas Property Full Cost Method Net
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Liabilities
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Liabilities
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Common Stock Par Or Stated Value Per Share
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Earnings Per Share Basic
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|
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Earnings Per Share Basic
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|
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Weighted Average Number Of Shares Outstanding Basic
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|
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Weighted Average Number Of Shares Outstanding Basic
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|
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Stockholders Equity
StockholdersEquity
|
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Stock Issued During Period Value Funds Received From Sale Of Dspp Units And Shares And Exercise Of Warrants
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|
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Stock Issued During Period Value New Issues
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|
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Stockholders Equity
StockholdersEquity
|
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Stockholders Equity
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|
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Stock Issued During Period Value Funds Received From Sale Of Dspp Units And Shares And Exercise Of Warrants
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|
792000 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
8000 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
|
417000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2139000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
22178000 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1762000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2139000 | usd |
CY2024Q1 | us-gaap |
Depreciation
Depreciation
|
192000 | usd |
CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
200000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
67000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
67000 | usd |
CY2024Q1 | znogw |
Cost Of Options Issued To Employees Directors And Others As Noncash Compensation
CostOfOptionsIssuedToEmployeesDirectorsAndOthersAsNoncashCompensation
|
123000 | usd |
CY2023Q1 | znogw |
Cost Of Options Issued To Employees Directors And Others As Noncash Compensation
CostOfOptionsIssuedToEmployeesDirectorsAndOthersAsNoncashCompensation
|
417000 | usd |
CY2023Q1 | us-gaap |
Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
|
45000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
-328000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
-100000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
-19000 | usd |
CY2024Q1 | znogw |
Increase Decrease Governmental Receivables
IncreaseDecreaseGovernmentalReceivables
|
9000 | usd |
CY2023Q1 | znogw |
Increase Decrease Governmental Receivables
IncreaseDecreaseGovernmentalReceivables
|
-241000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
322000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-4000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
|
-88000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
|
-71000 | usd |
CY2024Q1 | znogw |
Increase Decrease In Accrued Severance Pay Net Of Severance Pay Fund
IncreaseDecreaseInAccruedSeverancePayNetOfSeverancePayFund
|
-7000 | usd |
CY2023Q1 | znogw |
Increase Decrease In Accrued Severance Pay Net Of Severance Pay Fund
IncreaseDecreaseInAccruedSeverancePayNetOfSeverancePayFund
|
3000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-130000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
26000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-167000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-57000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2003000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-917000 | usd |
CY2024Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
7000 | usd |
CY2024Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
317000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
838000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-324000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-838000 | usd |
CY2024Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
7000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
8000 | usd |
CY2024Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
726000 | usd |
CY2024Q1 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
3557000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
792000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2838000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
800000 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
511000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-955000 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1635000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3114000 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2146000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2159000 | usd |
CY2024Q1 | znogw |
Depreciation Of Oil And Gas Equipment
DepreciationOfOilAndGasEquipment
|
5000 | usd |
CY2024Q1 | znogw |
Cost Of Options Capitalized To Oil Gas Properties
CostOfOptionsCapitalizedToOilGasProperties
|
659000 | usd |
CY2023Q1 | znogw |
Cost Of Options Capitalized To Oil Gas Properties
CostOfOptionsCapitalizedToOilGasProperties
|
1515000 | usd |
CY2024Q1 | znogw |
Unpaid Costs Of Issuance During2023
UnpaidCostsOfIssuanceDuring2023
|
90000 | usd |
CY2024Q1 | znogw |
Addition Of Right Of Use Lease Assets And Lease Obligations
AdditionOfRightOfUseLeaseAssetsAndLeaseObligations
|
829000 | usd |
CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1115000 | usd |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
615000 | usd |
CY2024Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
1031000 | usd |
CY2023Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
1020000 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2146000 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1635000 | usd |
CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 1 - Nature of Operations, Basis of Presentation and Going Concern</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </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"><b>A. Nature of Operations</b></span> <span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Zion Oil & Gas, Inc., a Delaware corporation (“we,” “our,” “Zion” or the “Company”) is an oil and gas exploration company with a history of 24 years of oil & gas exploration in Israel. As of March 31, 2024, the Company has no revenues from its oil and gas operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Exploration Rights/Exploration Activities</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>New Megiddo Valleys License 434 (“NMVL 434”)</b></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"> </span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 is valid for three years until September 13, 2026 with four potential 1-year extensions for a total of seven years until September 13, 2030. This NMVL 434 effectively supersedes our previous NML 428.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 21, 2024, members of the Supervisory Committee visited our rig site. During this visit, they interacted with staff from Zion Oil & Gas, and our consultants and potential service providers. Some of these interactions occurred at Kibbutz Sde Eliyahu, while others were conducted through video conferencing with participants from the United States, Europe and the Middle East. Following these discussions, the Committee has officially accepted our work plan for the MJ-01 project. This acceptance allows us to sign agreements and secure mobilization dates with our service providers required to commence and complete the project.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have begun working on visa applications for our rig crew in preparation for their entry into Israel. Upon the completion of the work visa process, the crew will travel to Israel and begin inspecting the rig to make sure it conforms to industry requirements for workover operations. Afterwards, the crew will rig down, slide the drilling rig over several meters and rig up on the MJ-01 well location. The crew will then open the well and continue to follow the approved work plan in conjunction with the selected service providers. This should occur toward the end of Q2 or early Q3 depending on subsurface conditions encountered during the reopening phase and contractor scheduling availability.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have made strategic adjustments to control both cost and time. Despite the typical delays during Passover, which this year began on the evening of April 22nd and ended on the evening of April 30th, we have satisfied all regulatory requirements necessary to commence operations, including, as previously mentioned, approval by the Supervisory Committee. We are ready and moving forward.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </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"><b>B. Basis of Presentation</b></span> <span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying unaudited interim consolidated condensed financial statements of Zion Oil & 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, 2023. 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 months ended March 31, 2024 are not necessarily indicative of the operating results for the year ending December 31, 2024 or for any other subsequent interim period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </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"><b>C. Going Concern</b></span> <span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </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. 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 in doubt. The consolidated condensed 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 three months ended March 31, 2024, the Company incurred a net loss of approximately $1.8 million and had an accumulated deficit of approximately $288 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"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty. </p> | |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1800000 | usd |
CY2024Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-288000000 | usd |
CY2024Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2024Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
26965575 | shares |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
14901250 | shares |
CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b>B. Use of Estimates</b> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the accompanying unaudited consolidated condensed 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, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Illiquid credit markets, volatile equity, foreign currency, 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 environment will be reflected in the consolidated condensed financial statements in future periods.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The full extent to which the COVID-19 pandemic may directly or indirectly impact our business, results of operations and financial condition, will depend on future developments that are uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain it or treat COVID-19, as well as the economic impact on local, regional, national and international markets. We have made estimates of the impact of COVID-19 within our consolidated condensed financial statements, and although there is currently no major impact, there may be changes to those estimates in future periods. We have made the same estimates as to the potential impact the Israel-Hamas war may have on our operations. Actual results may differ from these estimates.</p> | |
CY2023Q1 | us-gaap |
Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
|
45000 | usd |
CY2024Q1 | us-gaap |
Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
|
16943000 | usd |
CY2023 | us-gaap |
Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
|
16637000 | usd |
CY2023Q1 | znogw |
Legal And Seismic Costs License Fees And Other Preparation Costs Post Impairment Of Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsPostImpairmentOfUnprovedOilAndGasProperties
|
34000 | usd |
CY2023Q1 | us-gaap |
Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
|
45000 | usd |
CY2024Q1 | us-gaap |
Inventory Drilling Noncurrent
InventoryDrillingNoncurrent
|
5600000 | usd |
CY2024Q1 | us-gaap |
Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
|
540000 | usd |
CY2024Q1 | us-gaap |
Other Inventories Spare Parts
OtherInventoriesSpareParts
|
48000 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
5510000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
|
191000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
5319000 | usd |
CY2024Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2024Q1 | znogw |
Share Based Compensation Arrangement By Sharebased Payment Award Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantsInPeriodGrantDateFairValue
|
9000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P6Y | |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0762 | pure |
CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
211000 | usd |
CY2020Q3 | znogw |
Extended Termination Term
ExtendedTerminationTerm
|
P2Y | |
CY2020Q3 | us-gaap |
Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
|
expiration date of February 25, 2021 to February 25, 2023 | |
CY2023Q2 | znogw |
Exercise Price Per Share
ExercisePricePerShare
|
0.25 | |
CY2022Q2 | znogw |
Exercise Price Per Share
ExercisePricePerShare
|
0.25 | |
znogw |
Net Cashflow Value
NetCashflowValue
|
365000 | usd | |
CY2023Q2 | znogw |
Termination Expiration One Description
TerminationExpirationOneDescription
|
the Company extended the termination date of the ZNWAQ warrant from July 15, 2023 to September 6, 2023 | |
CY2022Q1 | znogw |
Extended Termination Term
ExtendedTerminationTerm
|
P1Y | |
CY2024Q1 | znogw |
Exercise Price Per Share
ExercisePricePerShare
|
0.25 | |
CY2024Q1 | us-gaap |
Termination Loans
TerminationLoans
|
7500000 | usd |
CY2024Q1 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
500 | shares |
CY2024Q1 | znogw |
Number Of Warrants Purchase Units
NumberOfWarrantsPurchaseUnits
|
-500 | shares |
CY2024Q1 | znogw |
Number Of Days Required To Receive Warrant
NumberOfDaysRequiredToReceiveWarrant
|
P90Y | |
CY2024Q1 | us-gaap |
Debt Instrument Increase Decrease For Period Net
DebtInstrumentIncreaseDecreaseForPeriodNet
|
50 | usd |
CY2024Q1 | us-gaap |
Investment Restricted Per Unit
InvestmentRestrictedPerUnit
|
50 | |
CY2024Q1 | us-gaap |
Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
|
50 | shares |
CY2024Q1 | us-gaap |
Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
|
0.25 | |
CY2024Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
50 | |
CY2024Q1 | znogw |
Amount Raised Under The Dspp Program
AmountRaisedUnderTheDSPPProgram
|
3557000 | usd |
CY2023Q1 | znogw |
Amount Raised Under The Dspp Program
AmountRaisedUnderTheDSPPProgram
|
792000 | usd |
CY2024Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
3557000 | usd |
CY2023Q1 | znogw |
Equity Issuance Costs
EquityIssuanceCosts
|
816000 | usd |
CY2024Q1 | znogw |
Net Cash Provided Amount
NetCashProvidedAmount
|
2741000 | usd |
CY2023Q1 | us-gaap |
Investment Company Committed Capital
InvestmentCompanyCommittedCapital
|
1959000 | usd |
CY2018Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2018Q2 | znogw |
Subscription Price
SubscriptionPrice
|
5 | |
CY2018Q4 | us-gaap |
Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
|
P1Y | |
CY2019Q2 | us-gaap |
Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
|
P1Y | |
CY2020Q3 | us-gaap |
Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
|
P2Y | |
CY2023 | znogw |
Number Of Share Owned
NumberOfShareOwned
|
10 | shares |
CY2023Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
29697020 | shares |
CY2024Q1 | znogw |
Class Of Warrants Expired
ClassOfWarrantsExpired
|
-240068 | shares |
CY2024Q1 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
29456952 | shares |
CY2024Q1 | us-gaap |
Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
|
2592000 | usd |
CY2023Q4 | us-gaap |
Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
|
2538000 | usd |
CY2024Q1 | znogw |
Capitalized Salary Costs Excluded From Amortization
CapitalizedSalaryCostsExcludedFromAmortization
|
2470000 | usd |
CY2023Q4 | znogw |
Capitalized Salary Costs Excluded From Amortization
CapitalizedSalaryCostsExcludedFromAmortization
|
2444000 | usd |
CY2024Q1 | us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
|
1418000 | usd |
CY2023Q4 | us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
|
1418000 | usd |
CY2024Q1 | znogw |
Legal And Seismic Costs License Fees And Other Preparation Costs Excluded From Amortization
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsExcludedFromAmortization
|
10424000 | usd |
CY2023Q4 | znogw |
Legal And Seismic Costs License Fees And Other Preparation Costs Excluded From Amortization
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsExcludedFromAmortization
|
10198000 | usd |
CY2024Q1 | us-gaap |
Other Oil And Gas Property Successful Effort Method
OtherOilAndGasPropertySuccessfulEffortMethod
|
39000 | usd |
CY2023Q4 | us-gaap |
Other Oil And Gas Property Successful Effort Method
OtherOilAndGasPropertySuccessfulEffortMethod
|
39000 | usd |
CY2024Q1 | us-gaap |
Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
|
16943000 | usd |
CY2023Q4 | us-gaap |
Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
|
16637000 | usd |
CY2023Q1 | znogw |
Drilling Costs And Other Operational Related Costs Post Impairment Of Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsPostImpairmentOfUnprovedOilAndGasProperties
|
11000 | usd |
CY2024Q1 | znogw |
Drilling Costs And Other Operational Related Costs Changes In Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsChangesInUnprovedOilAndGasProperties
|
54000 | usd |
CY2023Q4 | znogw |
Drilling Costs And Other Operational Related Costs Changes In Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsChangesInUnprovedOilAndGasProperties
|
63000 | usd |
CY2024Q1 | znogw |
Capitalized Salary Costs Changes In Unproved Oil And Gas Properties
CapitalizedSalaryCostsChangesInUnprovedOilAndGasProperties
|
26000 | usd |
CY2023Q4 | znogw |
Capitalized Salary Costs Changes In Unproved Oil And Gas Properties
CapitalizedSalaryCostsChangesInUnprovedOilAndGasProperties
|
26000 | usd |
CY2024Q1 | znogw |
Legal And Seismic Costs License Fees And Other Preparation Costs Changes In Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsChangesInUnprovedOilAndGasProperties
|
226000 | usd |
CY2023Q4 | znogw |
Legal And Seismic Costs License Fees And Other Preparation Costs Changes In Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsChangesInUnprovedOilAndGasProperties
|
124000 | usd |
CY2023Q4 | znogw |
Impairment Of Unproved Oil And Gas Properties Changes In Unproved Oil And Gas Properties
ImpairmentOfUnprovedOilAndGasPropertiesChangesInUnprovedOilAndGasProperties
|
-45000 | usd |
CY2024Q1 | znogw |
Inclusive Non Cash Amount
InclusiveNonCashAmount
|
664000 | usd |
CY2023Q1 | znogw |
Inclusive Non Cash Amount
InclusiveNonCashAmount
|
1515000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
956000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
194000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
224000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
167000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
708000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
24000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
932000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
191000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Description
LesseeOperatingLeaseDescription
|
The Company had an option to renew the lease for another five years from February 1, 2024 to January 31, 2029, provided it is not in breach of the agreement, where it is required as well to furnish a notice of intent to exercise the option six months prior to termination of lease, and it furnishes a bank guarantee and insurance confirmation prior to commencement of the option period. The Company exercised the option to renew the lease for another seven years from February 1, 2024 through January 31, 2031, when rent is to be paid on a monthly basis in the base amount of approximately NIS 46,500 per month (approximately $12,800) at the exchange rate in effect on the date of this report and is linked to an increase (but not a decrease) in the CPI. | |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
281000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
156000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
155000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
150000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
150000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
275000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1167000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
235000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
932000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
75000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
69000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
88000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
70000 | usd |
CY2023Q4 | us-gaap |
Loss Contingency Accrual Insurance Related Assessment Premium Tax Offset
LossContingencyAccrualInsuranceRelatedAssessmentPremiumTaxOffset
|
76263 | usd |
CY2023Q4 | us-gaap |
Payments For Reinsurance
PaymentsForReinsurance
|
22699 | usd |
CY2023Q4 | us-gaap |
Financing Interest Expense
FinancingInterestExpense
|
5356 | usd |
CY2023Q4 | znogw |
Insurance Financing Payments Rate Of Interest
InsuranceFinancingPaymentsRateOfInterest
|
0.1399 | pure |
CY2023Q4 | us-gaap |
Loss Contingency Accrual Insurance Related Assessment Premium Tax Offset
LossContingencyAccrualInsuranceRelatedAssessmentPremiumTaxOffset
|
441598 | usd |
CY2023Q4 | us-gaap |
Payments For Reinsurance
PaymentsForReinsurance
|
68733 | usd |
CY2024Q1 | us-gaap |
Financing Interest Expense
FinancingInterestExpense
|
37287 | usd |
CY2024Q1 | znogw |
Insurance Financing Payments Rate Of Interest
InsuranceFinancingPaymentsRateOfInterest
|
0.134 | pure |
CY2024Q1 | us-gaap |
Loss Contingency Accrual Insurance Related Assessment Premium Tax Offset
LossContingencyAccrualInsuranceRelatedAssessmentPremiumTaxOffset
|
94989 | usd |
CY2024Q1 | us-gaap |
Payments For Reinsurance
PaymentsForReinsurance
|
37637 | usd |
CY2024Q1 | znogw |
Insurance Financing Balances
InsuranceFinancingBalances
|
388000 | usd |
CY2023Q1 | znogw |
Insurance Financing Balances
InsuranceFinancingBalances
|
432000 | usd |
CY2024Q1 | znogw |
Bank Guarantees To Government
BankGuaranteesToGovernment
|
944000 | usd |
CY2024Q1 | znogw |
Bank Guarantees To Others
BankGuaranteesToOthers
|
87000 | usd |
CY2024Q1 | znogw |
Aggregate Bank Guarantee Amount
AggregateBankGuaranteeAmount
|
1031000 | usd |
CY2024Q1 | znogw |
Percentage Of Currency Inflation
PercentageOfCurrencyInflation
|
0.015 | pure |
CY2023 | znogw |
Percentage Of Currency Inflation
PercentageOfCurrencyInflation
|
0.031 | pure |
CY2023Q4 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
2146000 | usd |
CY2024Q1 | znogw |
Fund Interest Rate Percentage
FundInterestRatePercentage
|
0.032 | pure |
CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
usd | |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
usd | |
CY2023Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
usd | |
CY2023Q1 | znogw |
Depreciation Of Oil And Gas Equipment
DepreciationOfOilAndGasEquipment
|
usd | |
CY2023Q1 | znogw |
Unpaid Costs Of Issuance During2023
UnpaidCostsOfIssuanceDuring2023
|
usd | |
CY2023Q1 | znogw |
Addition Of Right Of Use Lease Assets And Lease Obligations
AdditionOfRightOfUseLeaseAssetsAndLeaseObligations
|
usd | |
CY2024Q1 | us-gaap |
Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
|
usd | |
CY2024Q1 | us-gaap |
Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
|
usd | |
CY2024Q1 | znogw |
Warrants Issued
WarrantsIssued
|
shares | |
CY2024Q1 | znogw |
Class Of Warrants Exercised
ClassOfWarrantsExercised
|
shares | |
CY2024Q1 | znogw |
Drilling Costs And Other Operational Related Costs Post Impairment Of Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsPostImpairmentOfUnprovedOilAndGasProperties
|
usd | |
CY2024Q1 | znogw |
Capitalized Salary Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedSalaryCostsPostImpairmentOfUnprovedOilAndGasProperties
|
usd | |
CY2023Q1 | znogw |
Capitalized Salary Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedSalaryCostsPostImpairmentOfUnprovedOilAndGasProperties
|
usd | |
CY2024Q1 | znogw |
Capitalized Interest Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedInterestCostsPostImpairmentOfUnprovedOilAndGasProperties
|
usd | |
CY2023Q1 | znogw |
Capitalized Interest Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedInterestCostsPostImpairmentOfUnprovedOilAndGasProperties
|
usd | |
CY2024Q1 | znogw |
Legal And Seismic Costs License Fees And Other Preparation Costs Post Impairment Of Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsPostImpairmentOfUnprovedOilAndGasProperties
|
usd | |
CY2024Q1 | us-gaap |
Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
|
usd | |
CY2024Q1 | znogw |
Capitalized Interest Costs Changes In Unproved Oil And Gas Properties
CapitalizedInterestCostsChangesInUnprovedOilAndGasProperties
|
usd | |
CY2023Q4 | znogw |
Capitalized Interest Costs Changes In Unproved Oil And Gas Properties
CapitalizedInterestCostsChangesInUnprovedOilAndGasProperties
|
usd | |
CY2024Q1 | znogw |
Other Costs Changes In Unproved Oil And Gas Properties
OtherCostsChangesInUnprovedOilAndGasProperties
|
usd | |
CY2023Q4 | znogw |
Other Costs Changes In Unproved Oil And Gas Properties
OtherCostsChangesInUnprovedOilAndGasProperties
|
usd | |
CY2024Q1 | znogw |
Impairment Of Unproved Oil And Gas Properties Changes In Unproved Oil And Gas Properties
ImpairmentOfUnprovedOilAndGasPropertiesChangesInUnprovedOilAndGasProperties
|
usd | |
CY2023Q4 | znogw |
Insurance Financing Payments Due Month
InsuranceFinancingPaymentsDueMonth
|
P10M | |
CY2024Q1 | znogw |
Insurance Financing Payments Due Month
InsuranceFinancingPaymentsDueMonth
|
P10M | |
CY2024Q1 | znogw |
License Cost
LicenseCost
|
usd | |
CY2023 | znogw |
License Cost
LicenseCost
|
usd | |
CY2024Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2024Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2024Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2024Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001131312 | |
CY2024Q1 | dei |
Entity File Number
EntityFileNumber
|
001-33228 |