XML 12 R3.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Interim Statements of Loss and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenue    
Oil and gas revenue $ 1,013,625 $ 944,562
Cost and expenses    
Production 622,318 632,501
Depletion 66,549 109,101
Depreciation 11,180 7,007
Accretion of asset retirement obligation 224,828 22,873
Investor relations 176,402 84,149
Stock-based compensation 84,721 36,900
General and administrative 1,111,900 483,624
Total expenses 2,297,898 1,376,155
Loss before other income (expense) (1,284,273) (431,593)
Other income (expense)    
Interest income 19,631 1,974
Interest expense (21,405) (44,688)
Finance cost (26,512) (11,299)
Foreign exchange gain (121,125) (66,445)
Other income (36)
Change in fair value of derivative liability (568,773) (8,730,596)
Gain (loss) on debt settlement 71,282 (72,105)
Total other income (expense) (646,902) (8,923,195)
Net loss (1,931,175) (9,354,788)
Other comprehensive income (loss)    
Foreign currency translation adjustments 142,111 (82,617)
Comprehensive loss $ (1,789,064) $ (9,437,405)
Loss per share, basic and diluted $ (0.01) $ (0.07)
Weighted average number of shares outstanding basic and diluted 199,981,409 130,517,223