2024 Q4 Form 10-Q Financial Statement

#000121390024095430 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $0.00 $16.00K
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.775M $1.710M
YoY Change 3.8% -27.39%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $181.0K $190.0K
YoY Change -4.74% -5.47%
% of Gross Profit
Operating Expenses $1.775M $1.710M
YoY Change 3.8% -27.39%
Operating Profit -$1.775M -$1.747M
YoY Change 1.6% -25.82%
Interest Expense -$16.00K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net $4.000K $2.000K
YoY Change 100.0% -111.76%
Pretax Income -$1.791M -$1.743M
YoY Change 2.75% -26.58%
Income Tax
% Of Pretax Income
Net Earnings -$1.791M -$1.743M
YoY Change 2.75% -26.58%
Net Earnings / Revenue -10893.75%
Basic Earnings Per Share $0.00 -$3.00
Diluted Earnings Per Share $0.00 -$3.00
COMMON SHARES
Basic Shares Outstanding 934.4M shares 822.0M shares 579.1M shares
Diluted Shares Outstanding 843.2M shares 578.5M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $779.0K $510.0K
YoY Change 52.75% -83.44%
Cash & Equivalents $779.0K $510.0K
Short-Term Investments
Other Short-Term Assets $1.325M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables $140.0K $156.0K
Total Short-Term Assets $2.417M $1.929M
YoY Change 25.3% -68.21%
LONG-TERM ASSETS
Property, Plant & Equipment $5.070M $5.781M
YoY Change -12.3% 4600.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $520.0K $436.0K
YoY Change 19.27% 6.34%
Total Long-Term Assets $27.45M $22.81M
YoY Change 20.36% -65.66%
TOTAL ASSETS
Total Short-Term Assets $2.417M $1.929M
Total Long-Term Assets $27.45M $22.81M
Total Assets $29.87M $24.73M
YoY Change 20.75% -65.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $827.0K $862.0K
YoY Change -4.06% -51.74%
Accrued Expenses $462.0K $412.0K
YoY Change 12.14% -73.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.080M $2.037M
YoY Change 2.11% -50.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.181M $520.0K
YoY Change 127.12% 6.56%
Total Long-Term Liabilities $1.181M $520.0K
YoY Change 127.12% 6.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.080M $2.037M
Total Long-Term Liabilities $1.181M $520.0K
Total Liabilities $3.261M $2.557M
YoY Change 27.53% -44.61%
SHAREHOLDERS EQUITY
Retained Earnings -$292.0M -$285.0M
YoY Change 2.46% 23.56%
Common Stock $318.8M $307.0M
YoY Change 3.84% 2.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.61M $22.18M
YoY Change
Total Liabilities & Shareholders Equity $29.87M $24.73M
YoY Change 20.75% -65.88%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$1.791M -$1.743M
YoY Change 2.75% -26.58%
Depreciation, Depletion And Amortization $181.0K $190.0K
YoY Change -4.74% -5.47%
Cash From Operating Activities -$1.327M -$1.520M
YoY Change -12.7% 17.37%
INVESTING ACTIVITIES
Capital Expenditures $172.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$3.335M -$320.0K
YoY Change 942.19% -93.41%
Cash From Investing Activities -$3.507M -$320.0K
YoY Change 995.94% -93.45%
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 1.800M
YoY Change 75.33% -48.26%
NET CHANGE
Cash From Operating Activities -1.327M -1.520M
Cash From Investing Activities -3.507M -320.0K
Cash From Financing Activities 3.156M 1.800M
Net Change In Cash -1.678M -40.00K
YoY Change 4095.0% -98.52%
FREE CASH FLOW
Cash From Operating Activities -$1.327M -$1.520M
Capital Expenditures $172.0K $0.00
Free Cash Flow -$1.499M -$1.520M
YoY Change -1.38% 20.06%

Facts In Submission

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znogw Increase Decrease In Accrued Severance Pay Net Of Severance Pay Fund
IncreaseDecreaseInAccruedSeverancePayNetOfSeverancePayFund
-15000 usd
znogw Increase Decrease In Accrued Severance Pay Net Of Severance Pay Fund
IncreaseDecreaseInAccruedSeverancePayNetOfSeverancePayFund
-2000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-440000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-300000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-85000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-131000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5102000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3909000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
59000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
35000 usd
znogw Acquisition Of Drilling Rig And Related Equipment
AcquisitionOfDrillingRigAndRelatedEquipment
178000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
4187000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
2045000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4389000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2045000 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
2466000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
610000 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
12160000 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
4968000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9703000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4370000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
212000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1584000 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
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1847000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1530000 usd
znogw Unpaid Investments In Oil Gas Properties
UnpaidInvestmentsInOilGasProperties
840000 usd
znogw Unpaid Investments In Oil Gas Properties
UnpaidInvestmentsInOilGasProperties
677000 usd
znogw Unpaid Costs Associated With The Issuance Of Shares
UnpaidCostsAssociatedWithTheIssuanceOfShares
167000 usd
znogw Depreciation Of Oil And Gas Equipment
DepreciationOfOilAndGasEquipment
16000 usd
znogw Addition Of Right Of Use Lease Assets And Lease Obligations
AdditionOfRightOfUseLeaseAssetsAndLeaseObligations
829000 usd
znogw Addition Of Right Of Use Lease Assets And Lease Obligations
AdditionOfRightOfUseLeaseAssetsAndLeaseObligations
252000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
779000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
615000 usd
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1068000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1020000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1847000 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 - Nature of Operations, Basis of Presentation and Going Concern</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A. Nature of Operations</b> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zion Oil &amp; Gas, Inc., a Delaware corporation (“we,” “our,” “Zion” or the “Company”) is an oil and gas exploration company with a history of 24 years of oil &amp; gas exploration in Israel. As of September 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zion maintains its corporate headquarters in Dallas, Texas. The Company also has branch offices in Caesarea, Israel and Geneva, Switzerland. The purpose of the Israel branch is to support the Company’s operations in Israel, and the purpose of the Switzerland branch is to operate a foreign treasury center for the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 24, 2020, Zion incorporated a wholly owned subsidiary, Zion Drilling, Inc., a Delaware corporation, for the purpose of owning a drilling rig, related equipment and spare parts, and on January 31, 2020, Zion incorporated another wholly owned subsidiary, Zion Drilling Services, Inc., a Delaware corporation, to act as the contractor providing such drilling services. When Zion is not using the rig for its own exploration activities, Zion Drilling Services may contract with other operators in Israel to provide drilling services at market rates then in effect.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zion has the trademark “ZION DRILLING” filed with the United States Patent and Trademark Office. Zion has the trademark filed with the World Intellectual Property Organization in Geneva, Switzerland, pursuant to the Madrid Agreement and Protocol. In addition, Zion has the trademark filed with the Israeli Trademark Office in Israel.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Exploration Rights/Exploration Activities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>New Megiddo Valleys License 434 (“NMVL 434”) – Megiddo-Jezreel #1 Re-Entry (“MJ-01”)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 21, 2024, members of the Supervisory Committee visited our rig site. During this visit, they interacted with staff from Zion Oil &amp; Gas, 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 officially accepted our work plan for the MJ-01 re-completion project. This acceptance allowed us to sign agreements and secure mobilization dates with our service providers to commence and complete the project.</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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The initial phase of our recompletion project consisted of a category three inspection of the drilling rig, rigging down from MJ-02 and moving and rigging up over the MJ-01 well.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stage two of the operation involved drilling out both the steel plugs along with 625 meters (about 2,050 feet) of cement plugs and re-conditioning the wellbore to allow unhindered access to the selected zones for testing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">After six years of inactivity in a well over three miles deep, the MJ-01 wellbore presents a challenging environment. The crew appears to have experienced elastic and partial collapse of the casing in some areas. This led to the bottom hole assembly (“BHA”) becoming stuck over 4,000 meters from surface. Attempts to overpull the BHA were unsuccessful, and the crew completed a backoff operation which left over 500 meters of the BHA remaining downhole. This is not an uncommon occurrence with oil and gas drilling operations, but we do need to recover the “fish” to resume operations. The crew was unsuccessful in retrieving the remaining BHA with the tools that were on location and will require specialized tools and techniques to recover the entire fish. The specialized tools we need are not in Israel, but have been sourced, but not approved for mobilization due to the active conflict in Israel.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Another delay arose out of the logistical challenges we face. The ongoing conflict in the region has impacted shipping routes, the timely arrival of necessary equipment, and created travel difficulties for our rig crews. Our operations require specialized rig crews who are not available in Israel.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An even further delay has been created by many of our rig crew members reaching the limit of their work visas. This requires us to reset visas, which is not a simple process, and it adds another layer of delay and complexity. Moreover, the recent changes to visa eligibility have further complicated the process, as Israel, in just the last few months, has changed their 90-day visa renewals from resetting at the end of the year to resetting after six months after expiration. We are working with the Ministry of Interior on this issue. As a side note, the crew had to enter Israel under 90 day visas and not six month or 12 month visas in order to comply with the labor law requirements in place at the time the operation commenced.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In light of the combination of downhole, logistical, and crew challenges, as well as holidays, and the one-year remembrance of October 7, we have temporarily paused active operations. This is a necessary step to ensure the safety of our personnel and to ensure proper engineering and tools are brought to location to avoid lengthy delays waiting for additional tools should any be required once the job resumes. We anticipate that once we have the necessary tools and renewed visas for our crews, we can resume operations in Q4 2024 or Q1 2025. This is, of course, subject to the realities of the present geopolitical environment. The conflict in Israel, while not directly impacting our operations on a daily basis, creates uncertainties that could affect our schedule at any time.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While our MJ-01 re-completion project has faced a multitude of hurdles, including an active conflict, downhole issues and logistical challenges, we continue to move forward each time a safe opportunity permits continuation of operations. However, we will only move forward in coordination with Israeli authorities. We are actively monitoring the port situation to import the items needed to complete the current work program. We remain optimistic about making significant progress in the coming months.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B. Basis of Presentation</b> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited interim consolidated condensed financial statements of Zion Oil &amp; Gas, Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with Article 8-03 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring accruals necessary for a fair statement of financial position, results of operations and cash flows, have been included. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the financial statements and the accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 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 nine months ended September 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C. Going Concern</b> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company incurs cash outflows from operations, and all exploration activities and overhead expenses to date have been financed by way of equity or debt financing. The recoverability of the costs incurred to date is uncertain and dependent upon achieving significant commercial production of hydrocarbons. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><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 nine months ended September 30, 2024, the Company incurred a net loss of approximately $5.6 million and had an accumulated deficit of approximately $292 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To carry out planned operations, the Company must raise additional funds through additional equity and/or debt issuances or through profitable operations. There can be no assurance that this capital or positive operational income will be available to the Company, and if it is not, the Company may be forced to curtail or cease exploration and development activities. The consolidated 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
-5600000 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-292000000 usd
CY2024Q3 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
33337132 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27096250 shares
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"><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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Similar uncertainties are posed by the Israel-Hamas war, as well as the Israel-Lebanon war. The duration of both wars and its impact on the region and world is not fully known at this point in time. As stated previously in this report, our operations are paused and our rig crew workers are safely out of Israel and at home.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Actual results may differ from these estimates.</span></p>
CY2023Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
36000 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
129000 usd
us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
21033000000 usd
CY2023 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
16637000000 usd
CY2020Q1 us-gaap Inventory Drilling Noncurrent
InventoryDrillingNoncurrent
5600000 usd
CY2020Q1 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
540000000 usd
CY2020Q1 us-gaap Other Inventories Spare Parts
OtherInventoriesSpareParts
48000000 usd
CY2024Q3 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
178000 usd
CY2024Q3 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
594000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-97000 usd
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
39000 usd
CY2024Q3 znogw Drilling Rig And Related Equipment Net
DrillingRigAndRelatedEquipmentNet
4958000 usd
CY2022Q4 znogw Drilling Rig And Related Equipment Net
DrillingRigAndRelatedEquipmentNet
6281000 usd
CY2023Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
751000 usd
CY2023 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
11000 usd
CY2023Q4 znogw Drilling Rig And Related Equipment Net
DrillingRigAndRelatedEquipmentNet
5510000 usd
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1
znogw Number Of Shares
NumberOfShares
1 shares
CY2022Q1 znogw Extended Termination Term
ExtendedTerminationTerm
P1Y
CY2022Q2 us-gaap Cash
Cash
365000 usd
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1120000 usd
CY2024Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
536000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2299000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
437000 usd
CY2023Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
610000 usd
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
10000000 shares
CY2024Q2 us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
10000000 usd
znogw Dividend Reinvestment And Stock Purchase Plan Interest
DividendReinvestmentAndStockPurchasePlanInterest
0.65 pure
znogw Dividend Reinvestment And Stock Purchase Plan Percentage
DividendReinvestmentAndStockPurchasePlanPercentage
0.54 pure
CY2023Q1 znogw Termination Value
TerminationValue
7500000 usd
CY2024Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
250
CY2023Q3 znogw Equity Issuance Costs
EquityIssuanceCosts
437000 usd
znogw Equity Issuance Costs
EquityIssuanceCosts
610000 usd
CY2024Q4 znogw Proceeds From Dspp Program
ProceedsFromDSPPProgram
1319000 usd
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
29697020 shares
znogw Class Of Warrants Expired
ClassOfWarrantsExpired
-393868 shares
CY2024Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
29303152 shares
CY2024Q3 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
6050000 usd
CY2023Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
UnprovedOilAndGasPropertySuccessfulEffortMethod
2538000 usd
CY2024Q3 znogw Capitalized Salary Costs Excluded From Amortization
CapitalizedSalaryCostsExcludedFromAmortization
2521000 usd
CY2023Q4 znogw Capitalized Salary Costs Excluded From Amortization
CapitalizedSalaryCostsExcludedFromAmortization
2444000 usd
CY2024Q3 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
CY2024Q3 znogw Legal And Seismic Costs License Fees And Other Preparation Costs Excluded From Amortization
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsExcludedFromAmortization
11005000 usd
CY2023Q4 znogw Legal And Seismic Costs License Fees And Other Preparation Costs Excluded From Amortization
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsExcludedFromAmortization
10198000 usd
CY2024Q3 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
CY2024Q3 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
21033000 usd
CY2023Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
16637000 usd
CY2023Q3 znogw Drilling Costs And Other Operational Related Costs Post Impairment Of Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsPostImpairmentOfUnprovedOilAndGasProperties
20000 usd
znogw Drilling Costs And Other Operational Related Costs Post Impairment Of Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsPostImpairmentOfUnprovedOilAndGasProperties
76000 usd
CY2023Q3 znogw Legal And Seismic Costs License Fees And Other Preparation Costs Post Impairment Of Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsPostImpairmentOfUnprovedOilAndGasProperties
16000 usd
znogw Legal And Seismic Costs License Fees And Other Preparation Costs Post Impairment Of Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsPostImpairmentOfUnprovedOilAndGasProperties
53000 usd
CY2023Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
36000 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
129000 usd
CY2024Q3 znogw Drilling Costs And Other Operational Related Costs Changes In Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsChangesInUnprovedOilAndGasProperties
2865000 usd
CY2023Q3 znogw Drilling Costs And Other Operational Related Costs Changes In Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsChangesInUnprovedOilAndGasProperties
58000 usd
znogw Drilling Costs And Other Operational Related Costs Changes In Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsChangesInUnprovedOilAndGasProperties
3512000 usd
znogw Drilling Costs And Other Operational Related Costs Changes In Unproved Oil And Gas Properties
DrillingCostsAndOtherOperationalRelatedCostsChangesInUnprovedOilAndGasProperties
204000 usd
CY2024Q3 znogw Capitalized Salary Costs Changes In Unproved Oil And Gas Properties
CapitalizedSalaryCostsChangesInUnprovedOilAndGasProperties
26000 usd
CY2023Q3 znogw Capitalized Salary Costs Changes In Unproved Oil And Gas Properties
CapitalizedSalaryCostsChangesInUnprovedOilAndGasProperties
25000 usd
znogw Capitalized Salary Costs Changes In Unproved Oil And Gas Properties
CapitalizedSalaryCostsChangesInUnprovedOilAndGasProperties
77000 usd
znogw Capitalized Salary Costs Changes In Unproved Oil And Gas Properties
CapitalizedSalaryCostsChangesInUnprovedOilAndGasProperties
77000 usd
CY2024Q3 znogw Legal And Seismic Costs License Fees And Other Preparation Costs Changes In Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsChangesInUnprovedOilAndGasProperties
327000 usd
CY2023Q3 znogw Legal And Seismic Costs License Fees And Other Preparation Costs Changes In Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsChangesInUnprovedOilAndGasProperties
103000 usd
znogw Legal And Seismic Costs License Fees And Other Preparation Costs Changes In Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsChangesInUnprovedOilAndGasProperties
807000 usd
znogw Legal And Seismic Costs License Fees And Other Preparation Costs Changes In Unproved Oil And Gas Properties
LegalAndSeismicCostsLicenseFeesAndOtherPreparationCostsChangesInUnprovedOilAndGasProperties
301000 usd
CY2023Q3 znogw Impairment Of Unproved Oil And Gas Properties Changes In Unproved Oil And Gas Properties
ImpairmentOfUnprovedOilAndGasPropertiesChangesInUnprovedOilAndGasProperties
-36000 usd
znogw Impairment Of Unproved Oil And Gas Properties Changes In Unproved Oil And Gas Properties
ImpairmentOfUnprovedOilAndGasPropertiesChangesInUnprovedOilAndGasProperties
-129000 usd
CY2024Q3 znogw Increase Decrease In Capitalized Costs Of Unproved Properties Excluded From Amortization Period Cost
IncreaseDecreaseInCapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationPeriodCost
3218000 usd
CY2023Q3 znogw Increase Decrease In Capitalized Costs Of Unproved Properties Excluded From Amortization Period Cost
IncreaseDecreaseInCapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationPeriodCost
150000 usd
znogw Increase Decrease In Capitalized Costs Of Unproved Properties Excluded From Amortization Period Cost
IncreaseDecreaseInCapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationPeriodCost
4396000 usd
CY2024Q3 znogw Inclusive Non Cash Amount
InclusiveNonCashAmount
146000 usd
CY2023Q3 znogw Inclusive Non Cash Amount
InclusiveNonCashAmount
129000 usd
znogw Inclusive Non Cash Amount
InclusiveNonCashAmount
856000 usd
znogw Inclusive Non Cash Amount
InclusiveNonCashAmount
677000 usd
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
826000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
194000 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
145000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
167000 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
652000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
24000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
797000 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 $12,500) 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.
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y10M24D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.078 pure
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
49000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
155000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
151000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
149000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
149000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
346000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
999000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
202000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
797000 usd
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
75000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
224000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
76000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
203000 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
CY2024Q2 us-gaap Financing Interest Expense
FinancingInterestExpense
9499 usd
CY2024Q2 znogw Insurance Financing Payments Rate Of Interest
InsuranceFinancingPaymentsRateOfInterest
0.1399 pure
CY2024Q2 znogw Insurance Financing Payments Due Month
InsuranceFinancingPaymentsDueMonth
P10M
CY2024Q3 znogw Insurance Financing Balances
InsuranceFinancingBalances
75000 usd
CY2023Q4 znogw Insurance Financing Balances
InsuranceFinancingBalances
432000 usd
CY2024Q3 znogw Bank Guarantees To Government
BankGuaranteesToGovernment
971000 usd
CY2024Q3 znogw Bank Guarantees To Others
BankGuaranteesToOthers
91000 usd
CY2024Q3 znogw Aggregate Bank Guarantee Amount
AggregateBankGuaranteeAmount
1062000 usd
znogw Percentage Of Currency Inflation
PercentageOfCurrencyInflation
0.023 pure
CY2023 znogw Percentage Of Currency Inflation
PercentageOfCurrencyInflation
0.031 pure
CY2024Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
1847000 usd
CY2024Q3 znogw Fund Interests Rate Percentage
FundInterestsRatePercentage
0.028 pure
znogw Fund Interests Rate Percentage
FundInterestsRatePercentage
0.029 pure
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
dei Security Exchange Name
SecurityExchangeName
NONE
CY2024Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
usd
CY2023Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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 Depreciation Of Oil And Gas Equipment
DepreciationOfOilAndGasEquipment
usd
CY2023 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
usd
znogw Warrants Issued
WarrantsIssued
shares
znogw Class Of Warrants Exercised
ClassOfWarrantsExercised
shares
CY2024Q3 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
CY2024Q3 znogw Capitalized Salary Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedSalaryCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
CY2023Q3 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
CY2024Q3 znogw Capitalized Interest Costs Post Impairment Of Unproved Oil And Gas Properties
CapitalizedInterestCostsPostImpairmentOfUnprovedOilAndGasProperties
usd
CY2023Q3 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
CY2024Q3 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
CY2024Q3 znogw Other Costs Post Impairmentofunprovedoilandgasproperties
OtherCostsPostImpairmentofunprovedoilandgasproperties
usd
CY2023Q3 znogw Other Costs Post Impairmentofunprovedoilandgasproperties
OtherCostsPostImpairmentofunprovedoilandgasproperties
usd
znogw Other Costs Post Impairmentofunprovedoilandgasproperties
OtherCostsPostImpairmentofunprovedoilandgasproperties
usd
znogw Other Costs Post Impairmentofunprovedoilandgasproperties
OtherCostsPostImpairmentofunprovedoilandgasproperties
usd
CY2024Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
usd
CY2024Q3 znogw Capitalized Interest Costs Changes In Unproved Oil And Gas Properties
CapitalizedInterestCostsChangesInUnprovedOilAndGasProperties
usd
CY2023Q3 znogw Capitalized Interest Costs Changes In Unproved Oil And Gas Properties
CapitalizedInterestCostsChangesInUnprovedOilAndGasProperties
usd
CY2024Q3 znogw Other Costs Changes In Unproved Oil And Gas Properties
OtherCostsChangesInUnprovedOilAndGasProperties
usd
CY2023Q3 znogw Other Costs Changes In Unproved Oil And Gas Properties
OtherCostsChangesInUnprovedOilAndGasProperties
usd
CY2024Q3 znogw Impairment Of Unproved Oil And Gas Properties Changes In Unproved Oil And Gas Properties
ImpairmentOfUnprovedOilAndGasPropertiesChangesInUnprovedOilAndGasProperties
usd
CY2024Q3 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
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001131312
dei Entity File Number
EntityFileNumber
001-33228

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