EVALUATED PROPERTIES (Details Narrative) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
|
May 01, 2020
a
|
Dec. 31, 2022
USD ($)
|
Mar. 31, 2023
a
|
|
| Net property balance | $ | $ 1.2 | ||
| Area of land | 28,000 | ||
| 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 West Texas Intermediate (WTI) crude. At the time the WTI price exceeded $50/bbl, the Company would pay an additional $750,000 CAD. In addition, at the time the WTI price exceeded $57/bbl the Company would pay an additional $250,000 CAD (for a cumulative contingent total of $1,000,000 CAD). The price of WTI crude exceeded $50 per barrel (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 Blue Sky Resources (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 $763,754 CAD ($564,363 USD), necessary for the wells to continue in production after the acquisition. Additional funds in the amount of $490,624 CAD ($362,539 USD) remain in the other current asset balance for future payments to BSR, related to the acquisition | East unit is approximately 860 acres. | |
| Increased working interest | 50.00% | ||
| Vermilion Energy Inc [Member] | |||
| Increased working interest | 100.00% | ||
| SUDS Properties LLC [Member] | |||
| Assets working interest | 100.00% | ||
| Net revenue interest, percentage | 76.50% | ||
| Area of land | 2,530 | ||
| Twin Lakes San Andres Unit [Member] | |||
| Area of land | 1,670 |