Annual report pursuant to Section 13 and 15(d)

Reclamation and Restoration Provisions (Details)

v3.21.2
Reclamation and Restoration Provisions (Details) - USD ($)
 8 Months Ended 12 Months Ended
Aug. 31, 2015
Aug. 31, 2020
Aug. 31, 2019
Aug. 31, 2018
Reclamation and Restoration Provisions (Details) [Line Items]
Oil and gas reclamation liability, noncurrent $ 2,970,497 $ 2,970,497 $ 583,664
Discount rate for provision 2.00%
Oil Extraction Plant [Member]
Reclamation and Restoration Provisions (Details) [Line Items]
Oil extraction plant lease term 8 years
Provision for dismantling facility $ 350,000
Reclamation and restoration provisions description in accordance with the requirements to provide a surety bond to the Utah Division of Oil Gas and Mining in terms of the amendment to the Notice of Intent to Commence Large Mining Operations at an estimated production of 4,000 barrels per day, the Company estimated that the cost of dismantling the oil extraction plant and related equipment would increase to $498,484. The discount rate used in the calculation is estimated to be 2.32% on operations that are expected to commence in September 2021.
Oil and gas reclamation liability, noncurrent $ 498,484 $ 498,484 371,340
Site Restoration [Member]
Reclamation and Restoration Provisions (Details) [Line Items]
Oil extraction plant lease term 25 years
Provision for dismantling facility $ 200,000
Reclamation and restoration provisions description During the year ended August 31, 2019, in accordance with the requirements to provide a surety bond to the Utah Division of Oil Gas and Mining in terms of the amendment to the Notice of Intent to Commence Large Mining Operations at an estimated production of 4,000 barrels per day, the Company estimated that the cost of restoring the site would increase to $2,472,013.
Oil and gas reclamation liability, noncurrent $ 2,472,013 $ 2,472,013 $ 212,324