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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Major components of tax expense (income) [abstract]

SCHEDULE OF INCOME TAX BENEFIT

The Company’s income tax (benefit) provision consisted of the following components (in thousands):

SCHEDULE OF INCOME TAX BENEFIT

		2024				2023
Current
Federal			-				-
State		$	374				-
Current			374				-
Deferred
Federal			5,597				1,967
State			(107	)			1,392
Deferred			5,490				3,359
Total			5,864				3,359

SCHEDULE OF INCOME TAX RATES TO THE NET LOSS BEFORE TAX PROVISION

The provision for income taxes reported differs from the amounts computed by applying the cumulative US federal and state income tax rates to the net loss before tax provision due to the following:

 SCHEDULE OF INCOME TAX RATES TO THE NET LOSS BEFORE TAX PROVISION

		2024				2023
Net income		$	23,979			$	22,639
Statutory tax rate			25.91	%			26.43	%
Net income After Tax			6,213				5,983
Add (deduct):
Return to provision			(1	)			(122	)
Depletion			(293	)			(352	)
Prior period state deferred adjustments			429				1,051
Change in unrecognized tax benefit			140				(3,229	)
Change in enacted tax rate			(711	)			-
Other			87				28
Income tax expense		$	5,864			$	3,359

SCHEDULE OF DEFERRED TAX LIABILITIES AND ASSETS

Deferred tax liabilities and assets are attributable to the following:

 SCHEDULE OF DEFERRED TAX LIABILITIES AND ASSETS

		2024				2023
Deferred income tax liabilities:
Property, plant and equipment		$	(39,172	)		$	(37,118	)
Commodity contracts			(189	)			(103	)
Leases			-				(18	)
Deferred tax assets:
Stock based compensation			835				377
Asset retirement obligations			461				425
Other			15				-
Loss carry-forward			29,349				33,078
Deferred tax assets and liabilities		$	(8,701	)		$	(3,359	)

SCHEDULE OF UNRECOGNIZED DEFERRED TAX ASSETS

Deferred tax assets have not been recognized for the following deductible temporary differences:

 SCHEDULE OF UNRECOGNIZED DEFERRED TAX ASSETS

		2024				2023
Property, plant and equipment		$	407			$	441
Loss carry-forward			20,946				22,014
Capital losses			10,141				10,976
Unrecognized deferred tax assets		$	31,494			$	33,431

X

- Definition

Disclosure of detailed information about income tax expenses.

+ References

No definition available.

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Disclosure of detailed information income tax benefit explanatory.

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- Definition

The disclosure of deferred taxes. [Refer: Deferred tax liabilities; Deferred tax assets]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 10
-Subparagraph e
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard
-URIDate 2024-03-27

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