XML 14 R5.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Interim Statements of Cash Flows (Unaudited)
3 Months Ended
Mar. 31, 2022
USD ($)
Mar. 31, 2021
USD ($)
Operating activities:    
Net loss for the period $ (1,931,175) $ (9,354,788)
Changes in operating assets and liabilities:    
Stock-based compensation 84,721 36,900
Stock to be issued for services 51,208
Stock issued for services 39,478 396,108
Depletion 66,549 109,101
Depreciation 11,180 7,007
Accretion of asset retirement obligation 224,828 22,873
Accretion and accrued interest expense 26,816 36,605
Change in fair value of derivative liability 568,773 8,730,596
Interest income (14,149) 13,707
Foreign exchange loss 113
Gain (loss) on debt settlement (71,282) 72,105
Restricted cash 484 1,005
Accounts receivable (368,802) (287,087)
Prepaid expenses and deposits (34,516) (393,822)
Accounts payable and accrued liabilities 862,632 354,536
Net cash used in operating activities (483,142) (255,154)
Investing activities:    
Property and equipment expenditures (15,027) (343)
Oil and gas properties expenditures (535,694) (400)
Net cash used in investing activities (550,721) (743)
Financing activities:    
Proceeds from stock subscriptions received 13,886,224 629,945
Stock issuance costs on subscriptions received (1,108,790)
Proceeds from exercise of options 3,997 27,357
Proceeds from exercise of warrants 11,664 330,460
Proceeds from loans payable 500,000
Repayments of loans payable (321,027) (101,294)
Lease payments (1,612) (3,047)
Net cash provided by financing activities 12,470,456 1,383,421
Effect of exchange rate changes on cash and cash equivalents 174,964 (9,434)
Net increase in cash and cash equivalents 11,611,557 1,118,090
Cash and cash equivalents, beginning of period 1,026,990 202,712
Cash and cash equivalents, end of period $ 12,638,547 $ 1,320,802