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Condensed Consolidated Interim Statements of Financial Position - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 2,388,916 $ 926,061
Amounts receivable 2,673,496 4,337,825
Prepaid expenses and deposits 1,425,811 962,812
Total current assets 6,488,223 6,226,698
Oil and gas properties, net 36,693,806 30,049,794
Property and equipment, net 842,426 741,727
Total assets 44,024,455 37,018,219
Current liabilities:    
Accounts payable and accrued liabilities 11,410,326 10,600,080
RSU obligation 133,314 295,747
Loans payable 2,402,867 145,866
Lease liability 24,613 4,057
Derivative liability 987
Total current liabilities 13,972,107 11,045,750
Asset retirement obligation 5,696,668 5,316,470
Loans payable 8,563 20,689
Derivative liability 4,827
Lease liability 143,751 4,552
Total liabilities 19,821,089 16,392,288
Stockholders’ equity:    
Share capital 65,270,617 64,750,270
Notes and amounts receivable for equity issued (1,020,697) (1,062,062)
Warrant and option reserve 5,729,405 5,682,869
Shares to be cancelled 7,645 7,645
Obligation to issue shares 94,210 94,210
Accumulated other comprehensive loss (3,312,209) (4,009,997)
Accumulated deficit (42,565,605) (44,837,004)
Total stockholders’ equity 24,203,366 20,625,931
Total liabilities and stockholders’ equity $ 44,024,455 $ 37,018,219