2024 Q3 Form 10-Q Financial Statement

#000121390024065697 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $0.00 $0.00 $4.000K
YoY Change -100.0% -100.0% -98.85%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.775M $2.083M $2.287M
YoY Change 3.8% -8.92% -8.37%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $181.0K $225.0K $201.0K
YoY Change -4.74% 11.94% 2.03%
% of Gross Profit
Operating Expenses $1.775M $2.083M $2.287M
YoY Change 3.8% -8.92% -8.37%
Operating Profit -$1.775M -$2.083M -$2.335M
YoY Change 1.6% -10.79% -6.45%
Interest Expense -$16.00K $19.00K $3.000K
YoY Change 533.33% -115.0%
% of Operating Profit
Other Income/Expense, Net $4.000K $9.000K $3.000K
YoY Change 100.0% 200.0%
Pretax Income -$1.791M -$2.064M -$2.334M
YoY Change 2.75% -11.57% -10.13%
Income Tax
% Of Pretax Income
Net Earnings -$1.791M -$2.064M -$2.334M
YoY Change 2.75% -11.57% -10.13%
Net Earnings / Revenue -58350.0%
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 822.0M shares 733.5M shares 540.3M shares
Diluted Shares Outstanding 843.2M shares 745.6K shares 542.8M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $779.0K $2.461M $518.0K
YoY Change 52.75% 375.1% -91.0%
Cash & Equivalents $779.0K $2.461M $518.0K
Short-Term Investments
Other Short-Term Assets $1.325M $1.774M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables $140.0K $143.0K
Total Short-Term Assets $2.417M $4.495M $2.126M
YoY Change 25.3% 111.43% -76.59%
LONG-TERM ASSETS
Property, Plant & Equipment $5.070M $5.121M $91.00K
YoY Change -12.3% 5527.47% -31.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $520.0K $491.0K $438.0K
YoY Change 19.27% 12.1% -3.52%
Total Long-Term Assets $27.45M $24.32M $22.69M
YoY Change 20.36% 7.18% -62.69%
TOTAL ASSETS
Total Short-Term Assets $2.417M $4.495M $2.126M
Total Long-Term Assets $27.45M $24.32M $22.69M
Total Assets $29.87M $28.81M $24.82M
YoY Change 20.75% 16.11% -64.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $827.0K $983.0K $1.121M
YoY Change -4.06% -12.31% -32.39%
Accrued Expenses $462.0K $526.0K $729.0K
YoY Change 12.14% -27.85% 23.98%
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 $2.080M $2.495M $2.488M
YoY Change 2.11% 0.28% -19.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.181M $1.180M $477.0K
YoY Change 127.12% 147.38% -16.46%
Total Long-Term Liabilities $1.181M $1.180M $477.0K
YoY Change 127.12% 147.38% -16.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.080M $2.495M $2.488M
Total Long-Term Liabilities $1.181M $1.180M $477.0K
Total Liabilities $3.261M $3.675M $2.965M
YoY Change 27.53% 23.95% -18.74%
SHAREHOLDERS EQUITY
Retained Earnings -$292.0M -$290.0M -$283.1M
YoY Change 2.46% 2.45% 24.0%
Common Stock $318.8M $316.5M $304.9M
YoY Change 3.84% 3.8% 3.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.61M $25.14M $21.85M
YoY Change
Total Liabilities & Shareholders Equity $29.87M $28.81M $24.82M
YoY Change 20.75% 16.11% -64.49%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.791M -$2.064M -$2.334M
YoY Change 2.75% -11.57% -10.13%
Depreciation, Depletion And Amortization $181.0K $225.0K $201.0K
YoY Change -4.74% 11.94% 2.03%
Cash From Operating Activities -$1.327M -$1.772M -$1.475M
YoY Change -12.7% 20.14% 10.65%
INVESTING ACTIVITIES
Capital Expenditures $172.0K $58.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$3.335M -$500.0K -$891.0K
YoY Change 942.19% -43.88% -79.85%
Cash From Investing Activities -$3.507M -$558.0K -$891.0K
YoY Change 995.94% -37.37% -80.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.156M 3.709M 1.765M
YoY Change 75.33% 110.14% -50.5%
NET CHANGE
Cash From Operating Activities -1.327M -1.772M -1.475M
Cash From Investing Activities -3.507M -558.0K -891.0K
Cash From Financing Activities 3.156M 3.709M 1.765M
Net Change In Cash -1.678M 1.379M -601.0K
YoY Change 4095.0% -329.45% -75.12%
FREE CASH FLOW
Cash From Operating Activities -$1.327M -$1.772M -$1.475M
Capital Expenditures $172.0K $58.00K $0.00
Free Cash Flow -$1.499M -$1.830M -$1.475M
YoY Change -1.38% 24.07% 33.36%

Facts In Submission

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IncreaseDecreaseInPrepaidExpensesOther
195000 usd
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-206000 usd
znogw Increase Decrease Governmental Receivables
IncreaseDecreaseGovernmentalReceivables
99000 usd
znogw Increase Decrease Governmental Receivables
IncreaseDecreaseGovernmentalReceivables
-251000 usd
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-168000 usd
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-129000 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
20000 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
15000 usd
znogw Increase Decrease In Accrued Severance Pay Net Of Severance Pay Fund
IncreaseDecreaseInAccruedSeverancePayNetOfSeverancePayFund
-4000 usd
znogw Increase Decrease In Accrued Severance Pay Net Of Severance Pay Fund
IncreaseDecreaseInAccruedSeverancePayNetOfSeverancePayFund
-6000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-238000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-168000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-68000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
184000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3775000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2392000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
43000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
31000 usd
znogw Acquisition Of Drilling Rig And Related Equipment
AcquisitionOfDrillingRigAndRelatedEquipment
22000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
848000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1729000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-882000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1729000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
9000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
12000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1930000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
173000 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
8468000 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
2726000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6547000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2565000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1890000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1556000 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
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3525000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1558000 usd
znogw Unpaid Costs Of Issuance During2023
UnpaidCostsOfIssuanceDuring2023
992000 usd
znogw Unpaid Costs Of Issuance During2023
UnpaidCostsOfIssuanceDuring2023
806000 usd
znogw Unpaid Costs Associated With The Issuance Of Shares
UnpaidCostsAssociatedWithTheIssuanceOfShares
167000 usd
znogw Subscription Receivables
SubscriptionReceivables
985000 usd
znogw Depreciation Of Oil And Gas Equipment
DepreciationOfOilAndGasEquipment
10000 usd
znogw Addition Of Right Of Use Lease Assets And Lease Obligations
AdditionOfRightOfUseLeaseAssetsAndLeaseObligations
829000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2461000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
615000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1064000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1020000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3525000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1635000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 24 years of oil &amp; gas exploration in Israel. As of June 30, 2024, the Company has no revenues from its oil and gas operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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”) – Megiddo-Jezreel #1 Re-Entry (“MJ-01”)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 21, 2024, members of the Supervisory Committee visited our rig site. During this visit, they interacted with staff from Zion Oil &amp; 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 allowed us to sign agreements and secure mobilization dates with our service providers required to commence and complete the project.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Field operations remain on schedule, and our rig is now positioned over the MJ-01 wellbore. Repairs and maintenance, as well as the inspection of the rig, have all been completed successfully. All necessary wireline equipment for the project has been mobilized with additional essential items from India, China, Romania and Greece currently in transit for the final stages of operation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The initial phase of the MJ-01 recompletion project involves drilling out the plugs and nearly 625 meters (approximately 2,050 feet) of cement in the well. Following the drilling out of the cement plugs, we will next run a series of wireline tests and casing integrity tests to ensure that the wellbore has withstood the past six years of high temperatures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The next phase of the MJ-01 recompletion project, provided all goes as expected from the initial phase, involves perforating, stimulating and well testing previously identified zones of interest.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 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, 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 and six months ended June 30, 2024 are not necessarily indicative of the operating results for the year ending December 31, 2024 or for any other subsequent interim period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 six months ended June 30, 2024, the Company incurred a net loss of approximately $3.8 million and had an accumulated deficit of approximately $290 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty. </span></p>
us-gaap Net Income Loss
NetIncomeLoss
-3800000 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-290000000 usd
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
26940575 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21286250 shares
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 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, political instability 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">During March 2020, a global pandemic was declared by the World Health Organization related to the rapidly growing outbreak of a novel strain of coronavirus (“COVID-19”). The pandemic significantly impacted the economic conditions in the United States and Israel, as federal, state and local governments reacted to the public health crisis, creating significant uncertainties in the United States, Israel and world economies. In the interest of public health and safety, jurisdictions (international, national, state and local) where we have operations, restricted travel and required workforces to work from home. However, as of the date of this report, most of our employees are working at our physical offices, but have the ability to work from home as needed.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Similar uncertainties are posed by the Israel-Hamas war and its duration and whether the war expands regionally to include other hostile parties. It is important to note that Zion’s license area is not located near current combat zone.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Actual results may differ from these estimates.</p>
CY2023Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
48000 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
93000 usd
us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
17815000 usd
CY2023 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
16637000 usd
CY2020Q1 us-gaap Inventory Drilling Noncurrent
InventoryDrillingNoncurrent
5600000 usd
CY2020Q1 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
540000 usd
CY2020Q1 us-gaap Other Inventories Spare Parts
OtherInventoriesSpareParts
48000 usd
CY2024Q2 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
CY2023Q4 znogw Drilling Rig And Related Equipment Net
DrillingRigAndRelatedEquipmentNet
5510000 usd
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
22000 usd
CY2024Q2 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
414000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-93000 usd
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
8000 usd
CY2024Q2 znogw Drilling Rig And Related Equipment Net
DrillingRigAndRelatedEquipmentNet
5017000 usd
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
znogw Share Based Compensation Arrangement By Sharebased Payment Award Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantsInPeriodGrantDateFairValue
9000 usd
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
25000 shares
CY2023Q2 us-gaap Share Price
SharePrice
0.07
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
101000 usd
CY2020Q3 znogw Extended Termination Term
ExtendedTerminationTerm
P2Y
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
znogw Termination Expiration One Description
TerminationExpirationOneDescription
the Company extended the termination date of the ZNWAQ warrant from July 15, 2023 to September 6, 2023
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
115000 usd
CY2022Q1 znogw Extended Termination Term
ExtendedTerminationTerm
P1Y
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.25
CY2024Q2 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
947000 usd
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
1763000 usd
CY2023Q2 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
173000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
173000 usd
CY2024Q2 znogw Maximum Purchase
MaximumPurchase
10000000 usd
CY2024Q2 us-gaap Termination Loans
TerminationLoans
7500000 usd
CY2024Q2 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
500 shares
znogw Number Of Warrants Purchase Units
NumberOfWarrantsPurchaseUnits
-500 shares
znogw Number Of Days Required To Receive Warrant
NumberOfDaysRequiredToReceiveWarrant
P90Y
us-gaap Debt Instrument Increase Decrease For Period Net
DebtInstrumentIncreaseDecreaseForPeriodNet
50 usd
CY2024Q2 us-gaap Investment Restricted Per Unit
InvestmentRestrictedPerUnit
50
CY2024Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
50 shares
us-gaap Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
0.25
CY2024Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
50
CY2024Q2 znogw Amount Raised Under The Dspp Program
AmountRaisedUnderTheDSPPProgram
5896000 usd
znogw Amount Raised Under The Dspp Program
AmountRaisedUnderTheDSPPProgram
9453000 usd
CY2024Q2 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5896000 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
9453000 usd
CY2024Q2 znogw Equity Issuance Costs
EquityIssuanceCosts
947000 usd
znogw Equity Issuance Costs
EquityIssuanceCosts
1763000 usd
CY2024Q2 znogw Net Cash Provided Amount
NetCashProvidedAmount
4949000 usd
znogw Net Cash Provided Amount
NetCashProvidedAmount
7690000 usd
CY2024Q2 znogw Subscriptions Receivable
SubscriptionsReceivable
985000 usd
znogw Subscriptions Receivable
SubscriptionsReceivable
985000 usd
CY2023Q2 znogw Amount Raised Under The Dspp Program
AmountRaisedUnderTheDSPPProgram
1761000 usd
znogw Amount Raised Under The Dspp Program
AmountRaisedUnderTheDSPPProgram
2553000 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2553000 usd
znogw Equity Issuance Costs
EquityIssuanceCosts
173000 usd
CY2024Q2 us-gaap Cash
Cash
1122000 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
znogw Number Of Share Owned
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10 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
29697020 shares
znogw Class Of Warrants Expired
ClassOfWarrantsExpired
-240068 shares
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
29456952 shares
znogw Termination Expiration Date Description
TerminationExpirationDateDescription
expiration date of the Warrants to December 31, 2023.
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.05
CY2024Q2 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
3185000 usd
CY2023Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
2538000 usd
CY2024Q2 znogw Capitalized Salary Costs Excluded From Amortization
CapitalizedSalaryCostsExcludedFromAmortization
2495000 usd
CY2023Q4 znogw Capitalized Salary Costs Excluded From Amortization
CapitalizedSalaryCostsExcludedFromAmortization
2444000 usd
CY2024Q2 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
CY2024Q2 znogw Legal And Seismic Costs License Fees And Other Preparation Costs Excluded From Amortization
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsExcludedFromAmortization
10678000 usd
CY2023Q4 znogw Legal And Seismic Costs License Fees And Other Preparation Costs Excluded From Amortization
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsExcludedFromAmortization
10198000 usd
CY2024Q2 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
CY2024Q2 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
17815000 usd
CY2023Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
16637000 usd
CY2023Q2 znogw Drilling Costs And Other Operational Related Costs Post Impairment Of Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsPostImpairmentOfUnprovedOilAndGasProperties
44000 usd
znogw Drilling Costs And Other Operational Related Costs Post Impairment Of Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsPostImpairmentOfUnprovedOilAndGasProperties
55000 usd
CY2023Q2 znogw Legal And Seismic Costs License Fees And Other Preparation Costs Post Impairment Of Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsPostImpairmentOfUnprovedOilAndGasProperties
4000 usd
znogw Legal And Seismic Costs License Fees And Other Preparation Costs Post Impairment Of Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsPostImpairmentOfUnprovedOilAndGasProperties
38000 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
93000 usd
CY2024Q2 znogw Drilling Costs And Other Operational Related Costs Changes In Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsChangesInUnprovedOilAndGasProperties
593000 usd
CY2023Q2 znogw Drilling Costs And Other Operational Related Costs Changes In Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsChangesInUnprovedOilAndGasProperties
82000 usd
znogw Drilling Costs And Other Operational Related Costs Changes In Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsChangesInUnprovedOilAndGasProperties
647000 usd
znogw Drilling Costs And Other Operational Related Costs Changes In Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsChangesInUnprovedOilAndGasProperties
145000 usd
CY2024Q2 znogw Capitalized Salary Costs Changes In Unproved Oil And Gas Properties
CapitalizedSalaryCostsChangesInUnprovedOilAndGasProperties
25000 usd
CY2023Q2 znogw Capitalized Salary Costs Changes In Unproved Oil And Gas Properties
CapitalizedSalaryCostsChangesInUnprovedOilAndGasProperties
26000 usd
znogw Capitalized Salary Costs Changes In Unproved Oil And Gas Properties
CapitalizedSalaryCostsChangesInUnprovedOilAndGasProperties
51000 usd
znogw Capitalized Salary Costs Changes In Unproved Oil And Gas Properties
CapitalizedSalaryCostsChangesInUnprovedOilAndGasProperties
52000 usd
CY2024Q2 znogw Legal And Seismic Costs License Fees And Other Preparation Costs Changes In Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsChangesInUnprovedOilAndGasProperties
254000 usd
CY2023Q2 znogw Legal And Seismic Costs License Fees And Other Preparation Costs Changes In Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsChangesInUnprovedOilAndGasProperties
74000 usd
znogw Legal And Seismic Costs License Fees And Other Preparation Costs Changes In Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsChangesInUnprovedOilAndGasProperties
480000 usd
znogw Legal And Seismic Costs License Fees And Other Preparation Costs Changes In Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsChangesInUnprovedOilAndGasProperties
198000 usd
CY2023Q2 znogw Impairment Of Unproved Oil And Gas Properties Changes In Unproved Oil And Gas Properties
ImpairmentOfUnprovedOilAndGasPropertiesChangesInUnprovedOilAndGasProperties
-48000 usd
znogw Impairment Of Unproved Oil And Gas Properties Changes In Unproved Oil And Gas Properties
ImpairmentOfUnprovedOilAndGasPropertiesChangesInUnprovedOilAndGasProperties
-93000 usd
znogw Increase Decrease In Capitalized Costs Of Unproved Properties Excluded From Amortization Period Cost
IncreaseDecreaseInCapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationPeriodCost
1178000 usd
znogw Increase Decrease In Capitalized Costs Of Unproved Properties Excluded From Amortization Period Cost
IncreaseDecreaseInCapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationPeriodCost
302000 usd
CY2024Q2 znogw Inclusive Non Cash Amount
InclusiveNonCashAmount
338000 usd
CY2023Q2 znogw Inclusive Non Cash Amount
InclusiveNonCashAmount
709000 usd
znogw Inclusive Non Cash Amount
InclusiveNonCashAmount
1002000 usd
znogw Inclusive Non Cash Amount
InclusiveNonCashAmount
806000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
891000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
194000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
183000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
167000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
669000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
24000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
852000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
191000 usd
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 $12,400) 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.
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y10M24D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.077 pure
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
118000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
153000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
150000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
147000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
147000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
350000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1065000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
213000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
852000 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
74000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
149000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
57000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
126000 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
57000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
129000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
829000 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 znogw Insurance Financing Payments Due Month
InsuranceFinancingPaymentsDueMonth
P10M
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 znogw Insurance Financing Payments Due Month
InsuranceFinancingPaymentsDueMonth
P10M
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 us-gaap Financing Interest Expense
FinancingInterestExpense
9499 usd
CY2024Q1 znogw Insurance Financing Payments Rate Of Interest
InsuranceFinancingPaymentsRateOfInterest
0.1399 pure
CY2024Q1 znogw Insurance Financing Payments Due Month
InsuranceFinancingPaymentsDueMonth
P10M
CY2024Q2 znogw Insurance Financing Balances
InsuranceFinancingBalances
232000 usd
CY2023Q4 znogw Insurance Financing Balances
InsuranceFinancingBalances
432000 usd
CY2024Q2 znogw Bank Guarantees To Government
BankGuaranteesToGovernment
970000 usd
CY2024Q2 znogw Bank Guarantees To Others
BankGuaranteesToOthers
89000 usd
CY2024Q2 znogw Aggregate Bank Guarantee Amount
AggregateBankGuaranteeAmount
1059000 usd
znogw Percentage Of Currency Inflation
PercentageOfCurrencyInflation
0.036 pure
CY2023 znogw Percentage Of Currency Inflation
PercentageOfCurrencyInflation
0.031 pure
CY2024Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
3525000 usd
znogw Fund Interests Rate Percentage
FundInterestsRatePercentage
0.028 pure
CY2024Q2 znogw Fund Interests Rate Percentage
FundInterestsRatePercentage
0.029 pure
CY2024Q2 us-gaap Cash
Cash
1122000 usd
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
usd
znogw Acquisition Of Drilling Rig And Related Equipment
AcquisitionOfDrillingRigAndRelatedEquipment
usd
znogw Unpaid Costs Associated With The Issuance Of Shares
UnpaidCostsAssociatedWithTheIssuanceOfShares
usd
znogw Subscription Receivables
SubscriptionReceivables
usd
znogw Depreciation Of Oil And Gas Equipment
DepreciationOfOilAndGasEquipment
usd
znogw Addition Of Right Of Use Lease Assets And Lease Obligations
AdditionOfRightOfUseLeaseAssetsAndLeaseObligations
usd
znogw Warrants Issued
WarrantsIssued
shares
znogw Class Of Warrants Exercised
ClassOfWarrantsExercised
shares
CY2024Q2 znogw Drilling Costs And Other Operational Related Costs Post Impairment Of Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
znogw Drilling Costs And Other Operational Related Costs Post Impairment Of Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
CY2024Q2 znogw Capitalized Salary Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedSalaryCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
CY2023Q2 znogw Capitalized Salary Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedSalaryCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
znogw Capitalized Salary Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedSalaryCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
znogw Capitalized Salary Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedSalaryCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
CY2024Q2 znogw Capitalized Interest Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedInterestCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
CY2023Q2 znogw Capitalized Interest Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedInterestCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
znogw Capitalized Interest Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedInterestCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
znogw Capitalized Interest Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedInterestCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
CY2024Q2 znogw Legal And Seismic Costs License Fees And Other Preparation Costs Post Impairment Of Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
znogw Legal And Seismic Costs License Fees And Other Preparation Costs Post Impairment Of Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
CY2024Q2 znogw Other Costs Post Impairmentofunprovedoilandgasproperties
OtherCostsPostImpairmentofunprovedoilandgasproperties
usd
CY2023Q2 znogw Other Costs Post Impairmentofunprovedoilandgasproperties
OtherCostsPostImpairmentofunprovedoilandgasproperties
usd
znogw Other Costs Post Impairmentofunprovedoilandgasproperties
OtherCostsPostImpairmentofunprovedoilandgasproperties
usd
znogw Other Costs Post Impairmentofunprovedoilandgasproperties
OtherCostsPostImpairmentofunprovedoilandgasproperties
usd
CY2024Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
usd
CY2024Q2 znogw Capitalized Interest Costs Changes In Unproved Oil And Gas Properties
CapitalizedInterestCostsChangesInUnprovedOilAndGasProperties
usd
CY2023Q2 znogw Capitalized Interest Costs Changes In Unproved Oil And Gas Properties
CapitalizedInterestCostsChangesInUnprovedOilAndGasProperties
usd
znogw Capitalized Interest Costs Changes In Unproved Oil And Gas Properties
CapitalizedInterestCostsChangesInUnprovedOilAndGasProperties
usd
znogw Capitalized Interest Costs Changes In Unproved Oil And Gas Properties
CapitalizedInterestCostsChangesInUnprovedOilAndGasProperties
usd
CY2024Q2 znogw Other Costs Changes In Unproved Oil And Gas Properties
OtherCostsChangesInUnprovedOilAndGasProperties
usd
CY2023Q2 znogw Other Costs Changes In Unproved Oil And Gas Properties
OtherCostsChangesInUnprovedOilAndGasProperties
usd
znogw Other Costs Changes In Unproved Oil And Gas Properties
OtherCostsChangesInUnprovedOilAndGasProperties
usd
znogw Other Costs Changes In Unproved Oil And Gas Properties
OtherCostsChangesInUnprovedOilAndGasProperties
usd
CY2024Q2 znogw Impairment Of Unproved Oil And Gas Properties Changes In Unproved Oil And Gas Properties
ImpairmentOfUnprovedOilAndGasPropertiesChangesInUnprovedOilAndGasProperties
usd
znogw Impairment Of Unproved Oil And Gas Properties Changes In Unproved Oil And Gas Properties
ImpairmentOfUnprovedOilAndGasPropertiesChangesInUnprovedOilAndGasProperties
usd
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
usd
znogw License Cost
LicenseCost
usd
CY2023 znogw License Cost
LicenseCost
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001131312
dei Entity File Number
EntityFileNumber
001-33228

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ea0209756-10q_zionoil.htm Edgar Link pending
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