ZION OIL & GAS INC
For the period ended Dec 31, 2024. Filed Mar 27, 2025.
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FY2024 · Filed Mar 27, 2025
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Consolidated Balance Sheets at December 31, 2024 and 2023
Consolidated Balance Sheets as of
| December 31, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| US$ | US$ | |
| thousands | thousands | |
| Current assets | ||
| Cash and cash equivalents | 2,272 | 615 |
| Cash and cash equivalents – restricted | 1,064 | 1,020 |
| Prepaid expenses and other | 567 | 515 |
| Governmental receivables | 19 | 18 |
| Other receivables | 8 | 123 |
| Total current assets | 3,930 | 2,291 |
| Unproved oil and gas properties, full cost method (see Note 4) | 21,682 | 16,637 |
| Property and equipment at cost | ||
| Drilling rig and related equipment, net of accumulated depreciation of $2,807 and $2,215 (see note 2P) | 4,778 | 5,510 |
| Property and equipment, net of accumulated depreciation of $714 and $686 | 104 | 74 |
| 4,882 | 5,584 | |
| Right of Use Lease Assets (see Note 8) | 759 | 194 |
| Other assets | ||
| Assets held for severance benefits | 541 | 475 |
| Total other assets | 541 | 475 |
| Total assets | 31,794 | 25,181 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities | ||
| Accounts payable | 604 | 777 |
| Insurance financing (see note 9G) | 490 | 432 |
| Lease obligation – current (see Note 8) | 107 | 167 |
| Asset retirement obligation | 571 | 571 |
| Accrued liabilities | 456 | 693 |
| Total current liabilities | 2,228 | 2,640 |
| Long-term liabilities | ||
| Lease obligation – non-current (see Note 8) | 637 | 24 |
| Provision for severance pay | 548 | 499 |
| Total long-term liabilities | 1,185 | 523 |
| Total liabilities | 3,413 | 3,163 |
| Commitments and contingencies (see Note 9) | ||
| Stockholders’ equity | ||
| Common stock, par value $.01; Authorized: 1,200,000,000 shares at December 31, 2024 : Issued and outstanding: 965,362,131 and 640,002,580 shares at December 31, 2024 and 2023, respectively | 9,654 | 6,400 |
| Additional paid-in capital | 312,629 | 302,177 |
| Accumulated deficit | (293,902) | (286,559) |
| Total stockholders’ equity | 28,381 | 22,018 |
| Total liabilities and stockholders’ equity | 31,794 | 25,181 |
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