XML 20 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended 22 Months Ended
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Oct. 26, 2024
Cash flows from operating activities              
Net loss $ (1,746,000) $ (1,752,000) $ (1,741,000) $ (2,139,000) $ (7,343,000) $ (7,957,000)  
Adjustments required to reconcile net loss to net cash used in operating activities:              
Depreciation         779,000 767,000 $ 767,000
Amortization of Right of Use Lease Asset         264,000 260,000  
Cost of options issued to employees, directors and others as non-cash compensation         334,000 1,034,000  
Post impairment of unproved oil and gas properties         0 135,000  
Loss on sale of property and equipment         63,000 0  
Change in assets and liabilities, net:              
Other deposits         0 483,000  
Prepaid expenses and other         (52,000) 85,000  
Governmental receivables         (1,000) 249,000  
Other receivables         115,000 20,000  
Lease obligation - current and non current         (276,000) (269,000)  
Severance pay, net         (17,000) (9,000)  
Accounts payable         (30,000) 90,000  
Accrued liabilities         (66,000) (21,000)  
Net cash used in operating activities         (6,230,000) (5,133,000)  
Cash flows from investing activities              
Proceeds from sale of property and equipment         35,000 0  
Net cash used in investing activities         (5,274,000) (2,354,000)  
Cash flows from financing activities              
Proceeds from exercise of stock options         36,000 12,000  
Costs paid related to the issuance of new shares         (3,088,000) (953,000)  
Proceeds from issuance of stock and exercise of warrants         16,257,000 6,949,000  
Net cash provided by financing activities         13,205,000 6,008,000  
Net decrease in cash, cash equivalents and restricted cash         1,701,000 (1,479,000)  
Cash, cash equivalents and restricted cash – beginning of period   $ 1,635,000   $ 3,114,000 1,635,000 3,114,000 $ 3,114,000
Cash, cash equivalents and restricted cash – end of period 3,336,000   1,635,000   3,336,000 1,635,000  
Non-cash investing and financing activities:              
Unpaid investments in oil and gas properties         604,000 670,000  
Depreciation of oil and gas equipment         23,000 32,000  
Unpaid Costs associated with the issuance of shares         167,000 167,000  
Addition of right of use lease assets and lease obligations         829,000 252,000  
Cash and cash equivalents 2,272,000   615,000   2,272,000 615,000  
Cash and cash equivalents – restricted 1,064,000   1,020,000   1,064,000 1,020,000  
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents $ 3,336,000   $ 1,635,000   3,336,000 1,635,000  
Property and Equipment [Member]              
Cash flows from investing activities              
Acquisition of property and equipment         (59,000) (1,000)  
Drilling Rig and Related Equipment [Member]              
Adjustments required to reconcile net loss to net cash used in operating activities:              
Depreciation         773,000 760,000  
Cash flows from investing activities              
Acquisition of property and equipment         (178,000) 0  
Oil and Gas Properties [Member]              
Cash flows from investing activities              
Acquisition of property and equipment         $ (5,072,000) $ (2,353,000)