Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes [Abstract]

Disclosure of deferred income tax assets and liabilities

The Company’s deferred income tax assets and liabilities are as follows:

($000s)	2018			2017
Deferred income tax asset and liability, beginning of year	$	—		$	—
Expenses related to the origination and reversal of temporary differences for:
Property and equipment	6,381			1,707
Non-capital losses carried forward	(733		)	(2,909		)
Long-term liabilities	(2		)	(41		)
Share issue expenses	(1		)	—
Changes in unrecognized tax benefits	(5,645		)	1,243
Deferred income tax expense recognized in net earnings	4,523			—
Deferred income tax (recovery) recognized in net earnings	(4,523		)	—
Deferred income tax asset, end of year	4,523			—
Deferred income tax liability, end of year	(4,523		)	—

Reconciliation of income tax expense

Income taxes vary from the amount that would be computed by applying the average Canadian statutory income tax rate of 27.0% (2017 – 27.0%) to income before taxes as follows:

($000s)	2018			2017
Income taxes calculated at the Canadian statutory rate	$	11,344		$	(15,368	)
Increases (decreases) in income taxes resulting from:
Non-deductible expenses	2,087			2,023
Changes in unrecognized tax benefits	(5,646		)	1,243
Effect of tax rates in foreign jurisdictions1	16,002			31,728
Changes in tax rates and other	2,553			2,193
Income tax expense - current	$	26,340		$	21,819
1 The statutory tax rate in Egypt is 40.55%.