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Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net loss for the period $ (4,349,804) $ (1,995,435)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,495,012 161,291
Stock issued for services 98,492 765,576
Stock to be issued for services 51,208
Depletion 211,761 343,158
Depreciation 56,517 20,790
Accretion of asset retirement obligation 147,307 68,864
Accretion and accrued interest expense 27,486 183,515
Interest income (5,656)
Change in fair value of derivative liability 294,373 (507,446)
Interest income (42,229)
Foreign exchange loss (60,062) 14,033
Provision for settlement 379,919  
(Gain) loss on debt settlement (71,131) 159,383
Changes in operating assets and liabilities:    
Restricted cash 1,518 2,791
Accounts receivable (874,574) (288,432)
Prepaid expenses and deposits (4,690,853) (411,273)
Accounts payable and accrued liabilities 1,854,362 388,985
Operating lease liabilities (8,507)
Net cash used in operating activities (5,470,698) (1,108,363)
Investing activities:    
Property and equipment expenditures (149,253) (717)
Oil and gas properties expenditures (13,202,574) (51,615)
Net cash used in investing activities (13,351,827) (52,332)
Financing activities:    
Proceeds from stock subscriptions received 31,351,120 244,601
Stock issuance costs on subscriptions received (2,658,064)
Proceeds from exercise of options 28,071 139,188
Proceeds from exercise of warrants 450,735 1,771,205
Proceeds from loans payable 91,651 500,000
Repayments of loans payable (648,621) (309,714)
Repayment of notes receivable   23,745
Lease payments (4,293)
Net cash provided by financing activities 28,610,599 2,369,025
Effect of exchange rate changes on cash and cash equivalents 818,976 54,526
Net increase in cash and cash equivalents 10,607,050 1,262,856
Cash and cash equivalents, beginning of period 1,026,990 202,712
Cash and cash equivalents, end of period 11,634,040 1,465,568
Supplemental information:    
Taxes paid
Interest paid on credit facilities 95,796 11,082
Non-cash investing and financing activities:    
Stock issued for prepaid services 62,955
Stock issued for debt settlement 416,123 297,184
Stock issued for debt conversion $ 522,519