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Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents (see Note 2B) $ 8,313,000 $ 2,272,000
Cash and cash equivalents – restricted (see Note 2C) 1,549,000 1,064,000
Prepaid expenses and other (see Note 2G) 1,554,000 567,000
Governmental receivables 100,000 19,000
Loan due from related party (see Note 2P) 8,000 0
Other receivables 5,000 8,000
Total current assets 11,529,000 3,930,000
Unproved oil and gas properties, full cost method (see Note 4) 27,673,000 21,682,000
Property and equipment, net 5,240,000 4,882,000
Right of Use Lease Assets (see Note 8) 1,176,000 759,000
Other assets    
Assets held for severance benefits (see Note 3) 662,000 541,000
Total other assets 662,000 541,000
Total assets 46,280,000 31,794,000
Current liabilities    
Accounts payable 1,053,000 604,000
Insurance financing (see Note 9F) 0 490,000
Lease obligation – current (see Note 8) 130,000 107,000
Asset retirement obligation 571,000 571,000
Accrued liabilities 504,000 456,000
Total current liabilities 2,258,000 2,228,000
Long-term liabilities    
Lease obligation – non-current (see Note 8) 932,000 637,000
Provision for severance pay 662,000 548,000
Total long-term liabilities 1,594,000 1,185,000
Total liabilities 3,852,000 3,413,000
Commitments and contingencies (see Note 9)
Stockholders’ equity    
Common stock, par value $.01; Authorized: 1,600,000,000 shares at December 31, 2025: Issued and outstanding: 1,156,476,572 and 965,362,131 shares at December 31, 2025 and 2024, respectively 11,565,000 9,654,000
Additional paid-in capital 332,421,000 312,629,000
Stock subscription receivable (29,000) 0
Accumulated deficit (301,529,000) (293,902,000)
Total stockholders’ equity 42,428,000 28,381,000
Total liabilities and stockholders’ equity 46,280,000 31,794,000
Drilling Rig and Related Equipment [Member]    
Current assets    
Property and equipment, net 5,155,000 4,778,000
Property and Equipment [Member]    
Current assets    
Property and equipment, net $ 85,000 $ 104,000