| SCHEDULE OF OTHER ASSETS |
SCHEDULE
OF OTHER ASSETS
| | |
June 30, | | |
December 31, | |
| | |
2026 | | |
2025 | |
| | |
(Unaudited) | | |
(Audited) | |
| VAT receivable – current | |
$ | - | | |
$ | 334,608 | |
| Other receivables | |
| 295,648 | | |
| 227,519 | |
| Other receivables from well equipment - current | |
| 609,604 | | |
| 609,604 | |
| Consumables and spare parts | |
| 1,035,542 | | |
| 1,083,387 | |
| Prepaid expenses | |
| 184,472 | | |
| 70,798 | |
| Total prepayment and other current assets | |
| 2,125,266 | | |
| 2,325,916 | |
| Less: Allowance on other receivables | |
| (609,604 | ) | |
| (632,019 | ) |
| Prepayment and other current assets, net | |
$ | 1,515,662 | | |
$ | 1,693,897 | |
| | |
| | | |
| | |
| VAT receivable – non-current | |
$ | 1,835,177 | | |
$ | 1,534,521 | |
| Deposit and others | |
| 134,712 | | |
| 136,933 | |
| Durable spare parts | |
| - | | |
| - | |
| Total other assets – non - current | |
| 1,969,889 | | |
| 1,671,454 | |
| Less: allowance on other receivables | |
| (534,189 | ) | |
| (307,868 | ) |
| Other non-current assets, net | |
$ | 1,435,700 | | |
$ | 1,363,586 | |
|