ZION OIL & GAS INC
For the period ended Dec 31, 2023. Filed Mar 20, 2024.
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FY2023 · Filed Mar 20, 2024
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Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets at December 31, 2023 and 2022
Consolidated Balance Sheets as of
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| US$ thousands | US$ thousands | |
| Current assets | ||
| Cash and cash equivalents | 615 | 1,735 |
| Fixed short term bank and escrow deposits – restricted | 1,020 | 1,379 |
| Prepaid expenses and other | 515 | 600 |
| Other deposits | - | 483 |
| Governmental receivables | 18 | 267 |
| Other receivables | 123 | 143 |
| Total current assets | 2,291 | 4,607 |
| Unproved oil and gas properties, full cost method (see Note 4) | 16,637 | 15,889 |
| Property and equipment at cost | ||
| Drilling rig and related equipment, net of accumulated depreciation of $2,215 and $1,455 (see note 2M) | 5,510 | 6,281 |
| Property and equipment, net of accumulated depreciation of $686 and $647 | 74 | 112 |
| 5,584 | 6,393 | |
| Right of Use Lease Assets (see Note 8) | 194 | 202 |
| Other assets | ||
| Assets held for severance benefits | 475 | 424 |
| Total other assets | 475 | 424 |
| Total assets | 25,181 | 27,515 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities | ||
| Accounts payable | 777 | 1,775 |
| Insurance financing (see note 9G) | 432 | 372 |
| Lease obligation – current (see Note 8) | 167 | 196 |
| Asset retirement obligation | 571 | 571 |
| Accrued liabilities | 693 | 1,032 |
| Total current liabilities | 2,640 | 3,946 |
| Long-term liabilities | ||
| Lease obligation – non-current (see Note 8) | 24 | 12 |
| Provision for severance pay | 499 | 457 |
| Total long-term liabilities | 523 | 469 |
| Total liabilities | 3,163 | 4,415 |
| Commitments and contingencies (see Note 9) | ||
| Stockholders’ equity | ||
| Common stock, par value $.01; Authorized: 1,200,000,000 shares at December 31, 2023: Issued and outstanding: 640,002,580 and 524,231,493 shares at December 31, 2023 and 2022, respectively | 6,400 | 5,242 |
| Additional paid-in capital | 302,177 | 296,460 |
| Accumulated deficit | (286,559) | (278,602) |
| Total stockholders’ equity | 22,018 | 23,100 |
| Total liabilities and stockholders’ equity | 25,181 | 27,515 |
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