EVALUATED PROPERTIES (Details Narrative) |
6 Months Ended | 12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Jul. 06, 2021
USD ($)
|
Jun. 30, 2021
USD ($)
|
May 01, 2020
a
|
Aug. 06, 2019
USD ($)
|
Jun. 30, 2022
USD ($)
|
Dec. 31, 2019
USD ($)
|
Jul. 27, 2020
USD ($)
a
shares
|
Sep. 30, 2019
USD ($)
|
Aug. 15, 2019
USD ($)
|
|
Reserve Quantities [Line Items] | |||||||||
Area of land | a | 28,000 | ||||||||
TLSAU [Member] | |||||||||
Reserve Quantities [Line Items] | |||||||||
Area of Land | a | 4,880 | ||||||||
Blue Sky [Member] | |||||||||
Reserve Quantities [Line Items] | |||||||||
Increased working interest | 50.00% | ||||||||
Business combination, description | The total purchase price of the property was $2,000,000 (CND), 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 (CND). In addition, at the time WTI price exceeded $57/bbl the Company would pay an additional $250,000 (CND) (for a cumulative contingent total of $1,000,000). The price of WTI crude exceeded $50/bbl on January 6, 2021 and exceeded $57/bbl on February 8, 2021. The additional payments due were netted with the accounts receivable balance from previous Joint Interest Billing statements from BSR. The total USD value of the addition was $787,250, using prevailing exchange rates on the respective dates. Included in the terms of the agreement, the Company also funded their portion of the Alberta Energy Regulator (“AER”) bond fund requirement ($592,699 USD), necessary for the wells to continue in production after the acquisition. Additional funds ($380,742 USD) remain in the other current asset balance for future payments from BSR, related to the acquisition. | ||||||||
Vermilion Energy Inc [Member] | |||||||||
Reserve Quantities [Line Items] | |||||||||
Increased working interest | 100.00% | ||||||||
Settlement Agreement [Member] | |||||||||
Reserve Quantities [Line Items] | |||||||||
Area of Land | a | 3,800 | ||||||||
Reserves forfeited percentage | 56.00% | ||||||||
Full cost pools reserves forfeited | shares | 943,820 | ||||||||
Net property balance | $ 10,175,456 | ||||||||
Property write down value | $ 5,648,994 | ||||||||
NOACK [Member] | Purchase and Sale Agreement [Member] | FlowTex Energy L.L.C. [Member] | |||||||||
Reserve Quantities [Line Items] | |||||||||
Debt payment principal | $ 400,000 | ||||||||
Deposit | $ 380,000 | $ 20,000 | |||||||
Proceeds from 2nd NOACK sale | $ 375,000 | ||||||||
Receivable for the sale | $ 25,000 | $ 25,000 | |||||||
Gain on sale of properties | $ 400,000 | ||||||||
Remitted a cash payment | 8,995 | ||||||||
Outstanding property tax | $ 16,005 |