Acquisition of Bow Energy Ltd., A Related Party (Details Narrative) |
12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Feb. 27, 2018
USD ($)
shares
|
Feb. 02, 2018
USD ($)
$ / shares
shares
|
Dec. 31, 2018
USD ($)
$ / shares
shares
|
Sep. 17, 2018 |
Aug. 31, 2018
$ / shares
|
Jun. 29, 2018
a
|
May 09, 2018
$ / shares
|
May 24, 2017
a
|
|
Percentage of working interest acquired | 3.00% | |||||||
Area of land | a | 41,526 | |||||||
Stock issued during period, value, acquisitions | $ | $ 34,607,088 | |||||||
Shares issued, price per share | $ / shares | $ 0.09 | |||||||
Bow Energy Ltd [Member] | ||||||||
Stock issued during period shares acquisitions | shares | 106,156,172 | 37,000 | ||||||
Description on business acquisition | Under the terms of the Arrangement, Bow shareholders are deemed to have received 1.15 Petrolia common stock shares for each Bow Share. A total of 106,156,712 shares of the Company's common stock were issued to the Bow shareholders as a result of the Arrangement, plus additional shares in connection with the rounding described below. The Arrangement provided that no fractional shares would be issued in connection with the Arrangement, and instead, each Bow shareholder otherwise entitled to a fractional interest would receive the nearest whole number of Company shares. For example, where such fractional interest is greater than or equal to 0.5, the number of shares to be issued would be rounded up to the nearest whole number and where such fractional interest is less than 0.5, the number of shares to be issued would be rounded down to the nearest whole number. In calculating such fractional interests, all shares issuable in the name of or beneficially held by each Bow shareholder or their nominee as a result of the Arrangement shall be aggregated. | |||||||
Number of warrant issued | shares | 320,000 | 320,000 | ||||||
Value of shares issued in acquisition | $ | $ 103,632 | |||||||
Stock issued during period, value, acquisitions | $ | $ 34,607,088 | $ 100,000 | $ 34,607,088 | |||||
Number of shares issued to acquire business | shares | 100,000 | |||||||
Value of shares issued to acquire business | $ | $ 37,000 | |||||||
Shares issued, price per share | $ / shares | $ 0.37 | $ 0.37 | $ 0.07 | |||||
Business combination, consideration transferred, liabilities incurred | $ | $ 103,632 | |||||||
Renco Elang Energy Pte. Ltd. [Member] | Bow Energy Ltd [Member] | ||||||||
Percentage of ownership interest | 75.00% | |||||||
South Block A PSC [Member] | Bow Energy Ltd [Member] | ||||||||
Percentage of ownership interest | 75.00% | |||||||
Percentage of working interest acquired | 44.48% | |||||||
Bohorok PSC [Member] | Bow Energy Ltd [Member] | ||||||||
Percentage of working interest acquired | 50.00% | |||||||
Area of land | a | 465,266 | |||||||
Palmerah Baru [Member] | Bow Energy Ltd [Member] | ||||||||
Percentage of working interest acquired | 54.00% | |||||||
Area of land | a | 98,977 | |||||||
Palmerah Deep Pte. Ltd [Member] | Bow Energy Ltd [Member] | ||||||||
Percentage of working interest acquired | 69.36% | |||||||
Area of land | a | 170,398 | |||||||
Mahato PSC [Member] | Bow Energy Ltd [Member] | ||||||||
Percentage of working interest acquired | 20.00% | |||||||
Area of land | a | 167,115 | |||||||
Bohorok Deep JSA [Member] | Bow Energy Ltd [Member] | ||||||||
Percentage of working interest acquired | 20.25% |