Zion Oil & Gas, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 09:31 pm
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Zion Oil & Gas, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 1.74 million compared to USD 2.37 million a year ago. Basic loss per share from continuing operations was USD 0.003 compared to USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.003 compared to USD 0.01 a year ago.
For the nine months, net loss was USD 6.22 million compared to USD 7.14 million a year ago. Basic loss per share from continuing operations was USD 0.011 compared to USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.011 compared to USD 0.02 a year ago.
Zion Oil & Gas, Inc. is an oil and gas exploration company. The Company holds replacement license for New Megiddo License 428 (NML 428), which lies onshore, south, and west of the Sea of Galilee. Its wholly owned subsidiaries include Zion Drilling, Inc., which is focused on owning a drilling rig, related equipment and spare parts, and Zion Drilling Services, Inc., which acts as the contractor providing drilling services. The Company has not generated any revenues.