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Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Sep. 30, 2019
Current Assets    
Cash and cash equivalents $ (12,073) $ 49,715
Accounts receivable 244,598 83,398
Prepaid expenses 22,672 34,266
Total Current Assets 255,197 167,379
Long-term investments 399,151 396,782
Oil and gas properties, net, based on full cost method of accounting 22,054,560 22,040,307
Property and equipment, net 60,056 73,509
TOTAL ASSETS 22,768,964 22,677,977
Current Liabilities    
Accounts payable and accrued liabilities 204,847 69,617
Accounts payable and accrued liabilities – related parties 22,941 1,375
Total Current Liabilities 227,788 70,992
Asset retirement obligations (Note 10) 515,394 500,392
Loan payable (Note 3) 22,491  
Total Non- Current Liabilities 537,885 500,392
TOTAL LIABILITIES 765,673 571,384
(Commitments and contingencies Note 15)
SHAREHOLDERS’ EQUITY    
Common Stock: Authorized: 600,000,000 shares at $0.001 par value Issued and outstanding: 230,574,603 shares (September 30, 2019 – 230,574,603 shares) 230,574 230,574
Additional paid in capital 43,104,276 43,104,276
Accumulated deficit (21,331,559) (21,228,257)
Total Shareholders’ Equity 22,003,291 22,106,593
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 22,768,964 $ 22,677,977