v3.26.1
Oil and Gas Properties
3 Months Ended
May 31, 2026
Extractive Industries [Abstract]  
Oil and Gas Properties

Note 3 – Oil and Gas Properties

 

The following table summarizes the Company’s oil and gas activities by classification for the three months ended May 31, 2026:

 

   February 28,
2026
   Additions  

Change in

Estimates

   May 31, 2026 
                 
Oil and gas properties, subject to depletion  $2,930,237   $-   $-   $2,930,237 
Asset retirement costs   279,829    -    (116,362)   163,467 
Accumulated depletion and impairment   (3,026,793)   (2,063)   -    (3,028,856)
Total oil and gas assets  $183,273    (2,063)  $(116,362)  $64,848 

 

The depletion recorded for production on proved properties for the three months ended May 31, 2026 and 2025, amounted to $2,063 and $14,569, respectively.

 

During the three months ended May 31, 2026 and 2025, there were no ceiling test write-downs of the Company’s oil and gas properties.