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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 2,272,000 $ 615,000
Cash and cash equivalents – restricted 1,064,000 1,020,000
Prepaid expenses and other 567,000 515,000
Governmental receivables 19,000 18,000
Other receivables 8,000 123,000
Total current assets 3,930,000 2,291,000
Unproved oil and gas properties, full cost method (see Note 4) 21,682,000 16,637,000
Property and equipment, net 4,882,000 5,584,000
Right of Use Lease Assets (see Note 8) 759,000 194,000
Other assets    
Assets held for severance benefits 541,000 475,000
Total other assets 541,000 475,000
Total assets 31,794,000 25,181,000
Current liabilities    
Accounts payable 604,000 777,000
Insurance financing (see note 9G) 490,000 432,000
Lease obligation – current (see Note 8) 107,000 167,000
Asset retirement obligation 571,000 571,000
Accrued liabilities 456,000 693,000
Total current liabilities 2,228,000 2,640,000
Long-term liabilities    
Lease obligation – non-current (see Note 8) 637,000 24,000
Provision for severance pay 548,000 499,000
Total long-term liabilities 1,185,000 523,000
Total liabilities 3,413,000 3,163,000
Commitments and contingencies (see Note 9)
Stockholders’ equity    
Common stock, par value $.01; Authorized: 1,200,000,000 shares at December 31, 2024 : Issued and outstanding: 965,362,131 and 640,002,580 shares at December 31, 2024 and 2023, respectively 9,654,000 6,400,000
Additional paid-in capital 312,629,000 302,177,000
Accumulated deficit (293,902,000) (286,559,000)
Total stockholders’ equity 28,381,000 22,018,000
Total liabilities and stockholders’ equity 31,794,000 25,181,000
Drilling Rig and Related Equipment [Member]    
Current assets    
Property and equipment, net 4,778,000 5,510,000
Property and Equipment [Member]    
Current assets    
Property and equipment, net $ 104,000 $ 74,000