EVALUATED PROPERTIES (Details Narrative) |
3 Months Ended | 12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Jul. 06, 2021
USD ($)
|
May 01, 2020
a
|
Aug. 06, 2019
USD ($)
|
Mar. 31, 2021
USD ($)
|
Dec. 31, 2019
USD ($)
|
Dec. 31, 2020
USD ($)
|
Jul. 27, 2020
USD ($)
a
|
Sep. 30, 2019
USD ($)
|
Aug. 15, 2019
USD ($)
|
|
Increased working interest | 50.00% | ||||||||
Oil and gas | a | 28,000 | ||||||||
TLSAU [Member] | |||||||||
Area of Land | a | 4,880 | ||||||||
Blue Sky [Member] | |||||||||
Business combination, description | The total purchase price of the property was $2,000,000 (CAD), with $1,000,000 of that total due initially. The additional $1,000,000 was contingent on the future price of WTI crude. At the time WTI price exceeded $50/bbl, the Company would pay an additional $750,000. In addition, at the time WTI price exceeded $57/bbl the Company would pay an additional $250,000 (for a cumulative contingent total of $1,000,000). Note that WTI crude prices did not exceed those price thresholds until 2021, so the contingent $1,000,000 will not be recorded until 2021. Included in the terms of the agreement, the Company also funded their portion of the Alberta Energy Regulator (“AER”) bond fund requirement ($607,357), necessary for the wells to continue in production after the acquisition. Additional funds ($390,159 USD) remain in the other current asset balance for future payments from BSR, related to the acquisition | ||||||||
Settlement Agreement [Member] | |||||||||
Reserves forfeited percentage | 56.00% | 56.00% | |||||||
Full cost pools reserves forfeited | $ 943,820 | ||||||||
Net property balance | $ 10,175,456 | $ 10,175,456 | |||||||
Property write down value | $ 5,648,994 | ||||||||
Settlement Agreement [Member] | Moon Company [Member] | |||||||||
Area of Land | a | 3,800 | ||||||||
NOACK [Member] | Purchase and Sale Agreement [Member] | FlowTex Energy L.L.C. [Member] | |||||||||
Debt Instrument, Periodic Payment, Principal | $ 400,000 | ||||||||
Deposits | $ 380,000 | $ 20,000 | |||||||
Proceeds from Sale of Intangible Assets | $ 375,000 | ||||||||
Accounts Receivable, Sale | $ 25,000 | $ 25,000 | |||||||
Gain (Loss) on Sale of Properties | $ 400,000 | ||||||||
Remitted a cash payment | 8,995 | ||||||||
Outstanding property tax | $ 16,005 | ||||||||
Vermilion Energy Inc [Member] | |||||||||
Increased working interest | 100.00% |