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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 4,683 $ 11,708
Fixed short term bank and escrow deposits – restricted 1,269 2,954
Prepaid expenses and other 689 1,900
Other deposits 617 597
Governmental receivables 900 2,040
Other receivables 483 195
Total current assets 8,641 19,394
Unproved oil and gas properties, full cost method (see Note 4) 46,950 15,526
Property and equipment at cost    
Drilling rig and related equipment, net of accumulated depreciation of $703 and nil (see note 2J) 6,834 7,568
Property and equipment, net of accumulated depreciation of $604 and $564 138 131
Property Plant and Equipment Net 6,972 7,699
Right of Use Lease Assets (see Note 10) 327 438
Other assets    
Assets held for severance benefits 541 446
Total other assets 541 446
Total assets 63,431 43,503
Current liabilities    
Accounts payable 2,783 1,369
Lease obligation – current (see Note 10) 203 191
Asset retirement obligation 571 571
Derivative liability (see Note 8) 431
10% Senior convertible bonds, net of unamortized deferred financing cost of nil and $9 and unamortized debt discount of nil and $205 at December 31, 2021 and 2020, respectively (see Note 7) 3,033
Accrued liabilities 1,781 1,987
Total current liabilities 5,338 7,582
Long-term liabilities    
Lease obligation – non-current (see Note 10) 169 307
Provision for severance pay 548 505
Total long-term liabilities 717 812
Total liabilities 6,055 8,394
Commitments and contingencies (see Note 11)
Stockholders’ equity    
Common stock, par value $.01; Authorized: 800,000,000 shares at December 31, 2021: Issued and outstanding: 364,322,883 and 237,381,555 shares at December 31, 2021 and 2020, respectively 3,643 2,374
Additional paid-in capital 277,258 245,539
Accumulated deficit (223,525) (212,804)
Total stockholders’ equity 57,376 35,109
Total liabilities and stockholders’ equity $ 63,431 $ 43,503