Unproved Oil and Gas Properties, Full Cost Method

6 Months Ended

Jun. 30, 2020

Oil and Gas Property [Abstract]

Unproved Oil and Gas Properties, Full Cost Method

Note 4 - Unproved Oil and Gas Properties, Full Cost Method

Unproved oil and gas properties, under the full cost method, are comprised as follows:

	June 30, 2020		December 31, 2019
	US$ thousands		US$ thousands
Excluded from amortization base:
Drilling costs, and other operational related costs		1,311		1,227
Capitalized salary costs		1,856		1,759
Capitalized interest costs		1,049		990
Legal and seismic costs, license fees and other preparation costs		7,034		6,636
Other costs		36		25
		11,286		10,637

During the three months ended June 30, 2020 and 2019, Impairment of unproved oil and gas properties comprised as follows:

	June 30, 2020		June 30, 2019
	US$ thousands		US$ thousands
Excluded from amortization base:
Drilling costs, and other operational related costs		-		17
Other costs		-		48
		-		65

During the six months ended June 30, 2020 and 2019, Impairment of unproved oil and gas properties comprised as follows:

	June 30, 2020		June 30, 2019
	US$ thousands		US$ thousands
Excluded from amortization base:
Drilling costs, and other operational related costs		-		159
Other costs		-		69
		-		228

Changes in Unproved oil and gas properties during the six months ended June 30, 2020 and 2019 are as follows:

	June 30, 2020			June 30, 2019
	US$ thousands			US$ thousands
Excluded from amortization base:
Drilling costs, and other operational related costs			84			1
Capitalized salary costs			97			89
Capitalized interest costs			59			38
Legal costs, license fees and other preparation costs			398			268
Other costs			11			11
		*	649		*	407

* Inclusive of non-cash amounts of approximately $139,000, and $174,000 during the six months ended June 30, 2020, and 2019, respectively

Changes in Unproved oil and gas properties during the three months ended June 30, 2020 and 2019 are as follows:

	June 30, 2020			June 30, 2019
	US$ thousands			US$ thousands
Excluded from amortization base:
Drilling costs, and other operational related costs			84			1
Capitalized salary costs			51			43
Capitalized interest costs			39			28
Legal costs, license fees and other preparation costs			248			140
Other costs			4			9
		*	426		*	221

* Inclusive of non-cash amounts of approximately $62,000, and $164,000 during the three months ended June 30, 2020, and 2019, respectively