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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 1,026,990 $ 202,712
Accounts receivable 709,805 773,311
Prepaid expenses and deposits 95,503 24,302
Total current assets 1,832,298 1,000,325
Oil and gas properties, net 5,172,943 5,346,916
Property and equipment, net 147,134 128,257
Restricted cash 5,438 11,763
Total assets 7,157,813 6,487,261
Current liabilities:    
Accounts payable and accrued liabilities 852,481 1,496,510
Loans payable 630,534 549,424
Lease liability 6,732 12,116
Total current liabilities 1,489,747 2,058,050
Asset retirement obligation 4,426,978 4,010,624
Loans payable 18,513 17,730
Convertible debt 11,027
Derivative liability 472,899 1,804,572
Lease liability 8,592 27,693
Total liabilities 6,416,729 7,929,696
Stockholders’ equity:    
Common stock 1,828 1,253
Additional paid-in capital 33,295,413 27,508,468
Receivables for equity issued (1,193,641)
Shares to be cancelled 5,323
Obligation to issue stock 7,450 15,342
Accumulated other comprehensive loss (847,412) (490,172)
Accumulated deficit (30,527,877) (28,477,326)
Total stockholders’ equity 741,084 (1,442,435)
Total liabilities and stockholders’ equity $ 7,157,813 $ 6,487,261