Zion Oil & Gas, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 10, 2022 at 05:01 pm EDT
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Zion Oil & Gas, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net loss was USD 2.6 million compared to USD 4.06 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.02 a year ago.
For the six months, net loss was USD 4.76 million compared to USD 6.62 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.03 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.