| SEGMENT REPORTING |
NOTE
12. SEGMENT REPORTING
The
Company has a single reportable operating segment, Oil and Gas Exploration and Production, which includes exploration, development, and
production of current and potential oil and gas properties. Results of operations from producing activities were as follows:
SCHEDULE
OF LONG-LIVED ASSETS
| |
|
Canada |
|
|
United States |
|
|
Total |
|
| Nine months ended September 30, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
4,042,138 |
|
|
$ |
12,175 |
|
|
$ |
4,054,313 |
|
| Production costs |
|
|
(3,670,999 |
) |
|
|
(56,924 |
) |
|
|
(3,727,923 |
) |
| Depreciation, depletion, amortization and accretion |
|
|
(815,521 |
) |
|
|
(38,870 |
) |
|
|
(854,391 |
) |
| Results of operations from producing activities |
|
$ |
(444,382 |
) |
|
$ |
(83,619 |
) |
|
$ |
(528,001 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total long-lived assets, September 30, 2021 |
|
$ |
1,917,164 |
|
|
$ |
4,249,789 |
|
|
$ |
6,166,953 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Nine months ended September 30, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
5,126,281 |
|
|
$ |
6,079 |
|
|
$ |
5,132,360 |
|
| Production costs |
|
|
(5,198,789 |
) |
|
|
(155,650 |
) |
|
|
(5,354,439 |
) |
| Depreciation, depletion, amortization, and accretion |
|
|
(274,587 |
) |
|
|
(22,159 |
) |
|
|
(296,746 |
) |
| Results of operations from producing activities |
|
$ |
(347,095 |
) |
|
$ |
(171,730 |
) |
|
$ |
(518,825 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total long-lived assets, September 30, 2022 |
|
$ |
1,791,820 |
|
|
$ |
4,243,071 |
|
|
$ |
6,034,891 |
|
|