Subsequent Event

9 Months Ended

Jun. 30, 2018

Subsequent Event [Abstract]

Subsequent Event

12. Subsequent Event

As of June 30, 2018, the Company’s oil sands acreage covered 42,383 gross acres (33,938 net acres) of land under nine oil sands leases with working interests ranging from 25% to 100%. Of the Company’s gross acres, 19,610 gross acres (13,126 net acres) were set to expiry on July 10, 2018. The Company prepared and submitted three continuation applications for three oil sands leases that were set to expire on July 10, 2018. On July 25, 2018, two of the three continuation applications received approval from Alberta Energy Oil Sands Tenure Division. The Company has not yet received approval on the third continuation application it submitted. As of July 25, 2018, out of the 19,610 gross acres, on five oil sands leases, that were set to expire on July 10, 2018, Alberta Energy approved the continuation of 12,652 gross acres (6,863 net acres) on two of the Company’s oil sands leases. Continued leases have no future expiry dates but are subject to yearly escalating rental payments until they are deemed to be producing leases. For further information see Note 3 “Oil and Gas Properties” included herein.