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Condensed Consolidated Interim Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue    
Oil and gas revenue, net $ 6,145,939 $ 1,013,625
Cost and expenses    
Production 1,361,361 622,318
Depletion 1,959,153 66,549
Depreciation 173,839 11,180
Accretion of asset retirement obligation 52,732 224,828
Stock-based compensation 153,922 84,721
General and administrative 2,184,679 1,288,302
Geological and geophysical expenses 90,579
Total expenses 5,976,265 2,297,898
Income (Loss) before other income (expenses) 169,674 (1,284,273)
Other income (expense)    
Interest income 24,947 19,631
Interest expense (78,363)
Finance cost (150,000) (47,917)
Foreign exchange loss (403,693) (121,125)
Gain (loss) on debt settlement (3,439) 71,282
Change in fair value of derivative liability 3,840 (568,773)
Gain on net monetary position 2,708,433
Total other income (expense) 2,101,725 (646,902)
Net income (loss) 2,271,399 (1,931,175)
Other comprehensive income (loss)    
Foreign currency translation 697,788 142,111
Comprehensive income (loss) $ 2,969,187 $ (1,789,064)
Income (Loss) per share – Basic and diluted $ 0.01 $ (0.01)
Weighted average shares outstanding – Basic and diluted 384,492,365 199,981,409