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Consolidated Statements of Financial Position - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Jan. 01, 2021
Current assets:      
Cash and cash equivalents $ 926,061 $ 1,026,990 $ 202,712
Amounts receivable 4,337,825 709,805 773,311
Prepaid expenses and deposits 962,812 95,503 24,302
Total current assets 6,226,698 1,832,298 1,000,325
Oil and gas properties, net 30,049,794 1,420,613 2,224,473
Evaluation and exploration assets 3,116,146 3,122,443
Property and equipment, net 741,727 147,134 128,257
Restricted cash 5,438 11,763
Total assets 37,018,219 6,521,629 6,487,261
Current liabilities:      
Accounts payable and accrued liabilities 10,600,080 852,481 1,496,510
RSU obligation 295,747
Loans payable 145,866 630,534 549,424
Lease liability 4,057 6,732 12,116
Total current liabilities 11,045,750 1,489,747 2,058,050
Asset retirement obligation 5,316,470 8,993,108 9,355,422
Loans payable 20,689 18,513 17,730
Convertible debt 11,027
Derivative liability 4,827 472,899 1,804,572
Lease liability 4,552 8,592 27,693
Total liabilities 16,392,288 10,982,859 13,274,494
Stockholders’ equity (deficiency):      
Common stock 3,395 1,828 1,253
Share premium 64,746,875 35,115,302 26,331,369
Notes and amounts receivable for equity issued (1,062,062) (1,193,641)
Warrant and option reserve 5,682,869 1,165,170 1,177,099
Shares to be cancelled 7,645 5,323
Obligation to issue shares 94,210 7,450 15,342
Accumulated other comprehensive loss (4,009,997) (847,412) (490,172)
Accumulated deficit (44,837,004) (38,715,250) (33,822,124)
Total stockholders’ equity (deficiency) 20,625,931 (4,461,230) (6,787,233)
Total liabilities and stockholders’ equity (deficiency) $ 37,018,219 $ 6,521,629 $ 6,487,261