Capital Stock

12 Months Ended

Dec. 31, 2011

Capital Stock [Abstract]

Capital Stock

9.         Capital Stock

On November 21, 2011, the Company completed a private placement transaction with The Israel Land Development Company – Energy Ltd. (“ILDE”) and entered into certain other agreements in connection therewith (the “ILDE Transaction” – see Subsequent Event Note 18).

Under the terms of a Stock Purchase Agreement, the Company issued 16,466,639 shares of common stock of the Company to ILDE representing 19.9% of the issued and outstanding capital stock of the Company for total consideration of US$3,951,993.  The placement agent on the Transaction was paid a cash fee of $234,000.  The total share issuance costs of $625,000 associated with the Transaction were recorded as share issuance costs and reduced additional paid-in capital.