Consolidated Interim Statements of Financial Position - USD ($) |
Sep. 30, 2022 |
Dec. 31, 2021 |
Sep. 30, 2021 |
Dec. 31, 2020 |
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Current assets: | ||||
Cash and cash equivalents | $ 11,634,040 | $ 1,026,990 | $ 1,465,568 | $ 202,712 |
Amounts receivable | 1,249,232 | 709,805 | 773,311 | |
Prepaid expenses and deposits | 3,621,576 | 95,503 | 24,302 | |
Total current assets | 16,504,848 | 1,832,298 | 1,000,325 | |
Oil and gas properties, net | 11,383,658 | 1,420,613 | 2,224,473 | |
Evaluation and exploration assets | 3,146,176 | 3,116,146 | 3,122,443 | |
Property and equipment, net | 219,652 | 147,134 | 128,257 | |
Restricted cash | 3,920 | 5,438 | 11,763 | |
Total assets | 31,258,254 | 6,521,629 | 6,487,261 | |
Current liabilities: | ||||
Accounts payable and accrued liabilities | 1,904,876 | 852,481 | 1,496,510 | |
Loans payable | 49,989 | 630,534 | 549,424 | |
Lease liability | 3,988 | 6,732 | 12,116 | |
Total current liabilities | 1,958,853 | 1,489,747 | 2,058,050 | |
Asset retirement obligation | 8,123,837 | 8,993,108 | 9,355,422 | |
Loans payable | 40,315 | 18,513 | 17,730 | |
Convertible debt | 11,027 | |||
Derivative liability | 425,611 | 472,899 | 1,804,572 | |
Lease liability | 5,650 | 8,592 | 27,693 | |
Total liabilities | 10,554,266 | 10,982,859 | 13,274,494 | |
Stockholders’ equity (deficiency): | ||||
Common stock | 3,312 | 1,828 | 1,253 | |
Share premium | 58,489,325 | 32,175,293 | 26,331,369 | |
Notes and amounts receivable for equity issued | (1,162,009) | (1,193,641) | ||
Warrant and option reserve | 5,367,087 | 1,040,779 | 1,177,099 | |
Shares to be cancelled | 7,661 | 5,323 | ||
Obligation to issue shares | 1,203,496 | 7,450 | 15,342 | |
Accumulated other comprehensive loss | (3,204,230) | (847,412) | (490,172) | |
Accumulated deficit | (40,000,654) | (35,650,850) | (33,822,124) | |
Total stockholders’ equity (deficiency) | 20,703,988 | (4,461,230) | $ (11,747,636) | (6,787,233) |
Total liabilities and stockholders’ equity (deficiency) | $ 31,258,254 | $ 6,521,629 | $ 6,487,261 |
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- Definition Asset retirement obligations. No definition available.
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- Definition Obligation to issue shares. No definition available.
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- Definition Oil and gas properties net. No definition available.
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- Definition Shares to be cancelled. No definition available.
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- Definition The amount of accumulated items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IFRSs. [Refer: IFRSs [member]; Other comprehensive income] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of current lease liabilities. [Refer: Lease liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Expiry date 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period. Effective 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have the right at the end of the reporting period to defer settlement for at least twelve months after the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of current prepayments and other current assets. [Refer: Other current assets; Current prepayments] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of current trade receivables. [Refer: Trade receivables] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of residual interest in the assets of the entity after deducting all its liabilities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of exploration and evaluation assets recognised as intangible assets in accordance with the entity's accounting policy. [Refer: Exploration and evaluation assets [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The nominal value of capital arising from issuing ordinary shares. [Refer: Issued capital] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The non-current portion of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of net debt of the entity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of non-current lease liabilities. [Refer: Lease liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of equity interest of an entity without share capital that the entity does not separately disclose in the same statement or note. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition A component of equity representing reserves within equity, not including retained earnings. [Refer: Retained earnings] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of cash and cash equivalents whose use or withdrawal is restricted. [Refer: Cash and cash equivalents] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition A component of equity representing the entity's cumulative undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount received or receivable from the issuance of the entity's shares in excess of nominal value. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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