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Consolidated Condensed Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 8,288 $ 4,845
Fixed short term bank and escrow deposits – restricted 2,052 1,090
Prepaid expenses and other 430 511
Other deposits 197
Governmental receivables 18 34
Other receivables 172 222
Total current assets 10,960 6,899
Unproved oil and gas properties, full cost method (see Note 4) 11,286 10,637
Property and equipment at cost    
Net of accumulated depreciation of $531 and $505 93 115
Right of Use Lease Assets (see Note 7) 530 634
Other assets    
Drilling rig and related inventory (see note 2J) 4,609
Assets held for severance benefits 397 371
Total other assets 5,006 371
Total assets 27,875 18,656
Current liabilities    
Accounts payable 119 108
Obligation under capital lease 23
Lease obligation – current (see Note 7) 236 239
Asset retirement obligation 571 585
Derivative liability (see Note 6) 181 129
10% Senior convertible bonds, net of unamortized deferred financing cost of $23 and $0 and unamortized debt discount of $422 and $0 at June 30, 2020 and December 31, 2019 respectively (see Note 5) 2,802
Accrued liabilities 485 826
Total current liabilities 4,417 1,887
Long-term liabilities    
Lease obligation – non-current (see Note 7) 335 450
Obligation under capital lease 19
10% Senior convertible bonds, net of unamortized deferred financing cost of $0 and $36 and unamortized debt discount of $0 and $639 at June 30, 2020 and December 31, 2019 respectively (see Note 5 ) 2,574
Provision for severance pay 444 402
Total long-term liabilities 779 3,445
Total liabilities 5,196 5,332
Commitments and contingencies (see Note 8)
Stockholders’ equity    
Common stock, par value $.01; Authorized: 400,000,000 shares at June 30, 2020: Issued and outstanding: 179,908,354 and 123,973,084 shares at June 30, 2020 and December 31, 2019 respectively 1,799 1,240
Additional paid-in capital 230,220 217,892
Accumulated deficit (209,340) (205,808)
Total stockholders’ equity 22,679 13,324
Total liabilities and stockholders’ equity $ 27,875 $ 18,656