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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net loss $ (3,532) $ (3,483)
Adjustments required to reconcile net loss to net cash used in operating activities:    
Depreciation 26 25
Cost of options issued to employees, directors and others as non-cash compensation 56 40
Amortization of debt discount related to convertible bonds 228 189
Non-cash interest expense 101 111
Change in derivative liability 51 (82)
Impairment of unproved oil and gas properties 228
Change in assets and liabilities, net:    
Other deposits 197 270
Prepaid expenses and other 81 138
Governmental receivables 16 342
Lease obligation – current (3) 216
Lease obligation – non current (115) 516
Right of Use Lease Assets 104 (685)
Other receivables 50 28
Severance pay 16 (3)
Accounts payable (8) (79)
Asset retirement obligation (14) (29)
Accrued liabilities (210) (158)
Net cash used in operating activities (2,956) (2,416)
Cash flows from investing activities    
Acquisition of property and equipment (4) (3)
Acquisition of drilling rig and related equipment (4,609)
Investment in unproved oil and gas properties (526) (3,157)
Net cash used in investing activities (5,139) (3,160)
Cash flows from financing activities    
Payments related to capital lease (6) (6)
Proceeds from exercise of stock options 4 1
Proceeds from issuance of stock and exercise of warrants 12,502 5,636
Net cash provided by financing activities 12,500 5,631
Net increase in cash, cash equivalents and restricted cash 4,405 55
Cash, cash equivalents and restricted cash – beginning of period 5,935 4,125
Cash, cash equivalents and restricted cash – end of period 10,340 4,180
Supplemental schedule of cash flow information    
Cash paid for interest 1 1
Non-cash investing and financing activities:    
Convertible Bond interest paid in shares 325 327
Cost of options capitalized to oil & gas properties
Unpaid investments in oil & gas properties 68 136
10% Senior Convertible Bonds converted to shares [1] 2
Capitalized convertible bond interest attributed to oil and gas properties $ 59 $ 38
[1] Less than one thousand