Subsequent Events

12 Months Ended

Sep. 30, 2015

18.

SUBSEQUENT EVENTS

As previously disclosed, the Company entered into a Farmout Agreement to fund the Company’s share of the SAGD Project. As part of the Farmout Agreement, as amended on November 17, 2014, the Farmee had the option, up to December 31, 2015, by committing an additional $110,000,000 of financing to the development of the Company’s Sawn Lake oil sands properties, to obtain an additional working interest of 45% to 50% in the remaining 56 sections of land where the Company has working interests ranging from 90% to 100%. As of the date of the options expiration (December 31, 2015), the Farmee did not exercise its option to acquire such interests.

On March 23, 2016, 900,000 stock options previously granted on March 23, 2011 to two directors, expired unexercised.

On June 20, 2016, warrants to acquire up to 520,000 common shares of the Company, expired unexercised.

On November 23, 2016, warrants to acquire up to 52,155,221 common shares of the Company, expired unexercised.

On June 19, 2017, the Company renewed its Edmonton office lease commencing effective on July 1, 2017 and expiring on June 30, 2019. As part of the lease renewal the Company received the first 3 months of basic rent free. The quarterly payments due are as follows:

	USD $		Cdn $
2017 Q4 (July - September)	$	–	$	–
2018 Q1 (October - December)	$	5,942	$	7,969
2018 Q2 (January - March)	$	5,942	$	7,969
2018 Q3 (April - June)	$	5,942	$	7,969
2018 Q4 (July - September)	$	5,942	$	7,969
2019 Q1 (October - December)	$	5,942	$	7,969
2019 Q2 (January - March)	$	5,942	$	7,969
2019 Q3 (April - June)	$	5,942	$	7,969