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Interim Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue        
Oil and natural gas sales $ 879,207 $ 493,609 $ 2,837,024 $ 1,773,073
Cost and expenses        
Production 774,249 488,930 2,008,383 1,688,342
Depletion 55,690 65,630 191,263 201,875
Depreciation 6,982 22,132 20,790 35,106
Accretion of asset retirement obligation 105,341 95,435 308,379 279,377
Investor relations 70,721 149,505 794,295 361,504
Stock based compensation 167,189 161,291 167,189
General and administrative 509,335 548,500 1,540,138 1,328,863
Total expenses 1,522,318 1,537,321 5,024,539 4,062,256
Loss before other income (expenses) (643,111) (1,043,712) (2,187,515) (2,289,183)
Other income (expenses)        
Interest expense (46,116) (34,155) (119,871) (86,829)
Interest income 16,520 5,308 27,450 12,771
Finance cost (88,502) (137,884)
Foreign exchange gain (loss) (12,340) 4,393 (13,258) 31,803
Other income (expense) (4) (40)
Loss on debt extinguishment (13,718) (29,001) (238,724) (29,001)
Change in fair value of derivative liability 6,205,914 (86,208) 507,446 (43,221)
Total other income (expenses) 6,061,754 (139,663) 25,119 (114,477)
Net income/(loss) for the period $ 5,418,643 $ (1,183,375) $ (2,162,396) $ (2,403,660)
Earnings (loss) per share - basic $ 0.03 $ (0.01) $ (0.01) $ (0.03)
Weighted average number of shares outstanding 166,527,850 110,299,171 150,439,108 95,897,700
Earnings (loss) per share - diluted $ 0.03 $ (0.01) $ (0.01) $ (0.03)
Weighted average number of shares outstanding 178,410,202 110,299,171 150,439,108 95,897,700
Other comprehensive income (loss):        
Foreign currency translation adjustments $ 66,194 $ (74,807) $ (119,650) $ (230,936)
Comprehensive income (loss) $ 5,484,837 $ (1,258,182) $ (2,282,046) $ (2,634,596)