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Note 7 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Notes Tables  
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
  

December 31,

  

December 31,

 
  

2024

  

2023

 
  

US$

  

US$

 
  

thousands

  

thousands

 

Deferred tax assets:

        

Net operating loss carry forwards

  61,341   58,977 

Other

  3,976   3,869 

Total gross deferred tax assets

  65,317   62,846 

Less – valuation allowance

  (60,456)  (59,036)

Net deferred tax assets

  4,861   3,810 
         

Deferred tax liabilities:

        

Property and equipment

  193   153 

Other

  (501)  (469)

Unproved oil and gas properties

  (4,553)  (3,494)

Total gross deferred tax liabilities

  (4,861)  (3,810)
         

Net deferred tax asset

  -   - 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
  

Year ended

  

Year ended

 
  

December 31,

  

December 31,

 
  

2024

  

2023

 
  

US$

  

US$

 
  

thousands

  

thousands

 

Pre-tax loss as reported

  (7,343)  (7,957)
         

U.S. statutory tax rate

  21%  21%

Theoretical tax expense

  (1,542)  (1,671)
         

Increase in income tax expense resulting from:

        
         

Permanent differences

  2   2 

Change in valuation allowance

  1,540   1,669 

Income tax expense

  -   -