v3.26.1
Consolidated Statements of Financial Position - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 430,313 $ 599,208
Amounts receivable 737,753 1,370,781
Prepaid expenses and deposits 46,909 255,756
Assets held for sale 387,797
Total current assets 1,214,975 2,613,542
Oil and gas properties, net 721,403 50,823,184
Property and equipment, net 409,931 741,683
Long-term deposits 756,634 686,159
Total assets 3,102,943 54,864,568
Current liabilities:    
Accounts payable and accrued liabilities 18,792,482 14,807,865
Loans payable 4,972,059 5,361,978
Convertible debt 11,823,815 10,364,993
Lease liability 10,356
Total current liabilities 35,588,356 30,545,192
Asset retirement obligation 6,412,057 5,895,209
Lease liability 35,017
Deferred tax liability 4,239,942
Total liabilities 42,000,413 40,715,360
Stockholders’ (deficiency) equity:    
Share capital 79,611,590 78,382,631
Notes and amounts receivable for equity issued (90,425)
Warrant and option reserve 7,228,089 7,209,546
Shares to be cancelled 7,645
Obligation to issue shares 54,042 6,000
Accumulated other comprehensive loss (22,560,802) (17,356,701)
Accumulated deficit (103,230,389) (54,009,488)
Total stockholders’ (deficiency) equity (38,897,470) 14,149,208
Total liabilities and stockholders’ (deficiency) equity $ 3,102,943 $ 54,864,568