| Schedule of oil extraction and processing segment |
| |
|
May 31, 2021 |
|
| |
|
Oil |
|
|
Mining |
|
|
|
|
| (in ’000s of dollars) |
|
Extraction |
|
|
Operations |
|
|
Consolidated |
|
| Additions to non-current assets |
|
$ |
4,894 |
|
|
$ |
- |
|
|
$ |
4,894 |
|
| Reportable segment assets |
|
|
45,862 |
|
|
|
33,240 |
|
|
|
79,102 |
|
| Reportable segment liabilities |
|
|
(19,882 |
) |
|
|
(160 |
) |
|
|
(20,042 |
) |
| |
|
$ |
25,980 |
|
|
$ |
33,080 |
|
|
$ |
59,060 |
|
| |
|
May 31, 2020 |
|
| |
|
Oil |
|
|
Mining |
|
|
|
|
| (in ’000s of dollars) |
|
Extraction |
|
|
Operations |
|
|
Consolidated |
|
| Additions to non-current assets |
|
$ |
2,152 |
|
|
$ |
610 |
|
|
$ |
2,762 |
|
| Reportable segment assets |
|
|
41,103 |
|
|
|
33,903 |
|
|
|
75,006 |
|
| Reportable segment liabilities |
|
|
(18,173 |
) |
|
|
(1,000 |
) |
|
|
(19,173 |
) |
| |
|
$ |
22,930 |
|
|
$ |
32,903 |
|
|
$ |
55,833 |
|
|
| Schedule of segment operating results |
| |
|
May 31, 2021 |
|
| (in ’000s of dollars) |
|
Oil
Extraction |
|
|
Mining
operations |
|
|
Consolidated |
|
| Revenue from license fees |
|
$ |
2,000 |
|
|
$ |
- |
|
|
$ |
2,000 |
|
| Revenues from hydrocarbon sales |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Other production and maintenance costs |
|
|
(379 |
) |
|
|
- |
|
|
|
(379 |
) |
| Gross Profit |
|
|
1,621 |
|
|
|
- |
|
|
|
1,621 |
|
| Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation, depletion and amortization |
|
|
34 |
|
|
|
- |
|
|
|
34 |
|
| Selling, general and administrative expenses |
|
|
3,171 |
|
|
|
- |
|
|
|
3,171 |
|
| Investor relations |
|
|
40 |
|
|
|
- |
|
|
|
40 |
|
| Professional fees |
|
|
1,476 |
|
|
|
- |
|
|
|
1,476 |
|
| Salaries and wages |
|
|
263 |
|
|
|
- |
|
|
|
263 |
|
| Share-based compensation |
|
|
616 |
|
|
|
- |
|
|
|
616 |
|
| Travel and promotional expenses |
|
|
156 |
|
|
|
- |
|
|
|
156 |
|
| Other |
|
|
620 |
|
|
|
- |
|
|
|
620 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Financing costs |
|
|
2,734 |
|
|
|
- |
|
|
|
2,734 |
|
| Other expense (income) |
|
|
773 |
|
|
|
- |
|
|
|
773 |
|
| Gain on settlement of liabilities |
|
|
48 |
|
|
|
- |
|
|
|
48 |
|
| Loss on conversion of convertible debt |
|
|
397 |
|
|
|
- |
|
|
|
397 |
|
| Loss on debt extinguishment |
|
|
330 |
|
|
|
- |
|
|
|
330 |
|
| Interest income |
|
|
(2 |
) |
|
|
|
|
|
|
(2 |
) |
| Derivative liability movements |
|
|
1,292 |
|
|
|
- |
|
|
|
1,292 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
6,383 |
|
|
$ |
- |
|
|
$ |
6,383 |
|
| |
|
May 31, 2020 |
|
| (in ’000s of dollars) |
|
Oil
Extraction |
|
|
Mining
operations |
|
|
Consolidated |
|
| |
|
|
|
|
|
|
|
|
|
| Revenues from hydrocarbon sales |
|
$ |
74 |
|
|
$ |
221 |
|
|
$ |
295 |
|
| Other production and maintenance costs |
|
|
1,558 |
|
|
|
- |
|
|
|
1,558 |
|
| Advance royalty payments |
|
|
- |
|
|
|
325 |
|
|
|
325 |
|
| Gross Loss |
|
|
(1,484 |
) |
|
|
(104 |
) |
|
|
(1,588 |
) |
| Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation, depletion and amortization |
|
|
(97 |
) |
|
|
- |
|
|
|
(97 |
) |
| Selling, general and administrative expenses |
|
|
(4,818 |
) |
|
|
(4 |
) |
|
|
(4,822 |
) |
| Financing costs, net |
|
|
(1,560 |
) |
|
|
- |
|
|
|
(1,560 |
) |
| Derivative liability movements |
|
|
(32 |
) |
|
|
- |
|
|
|
(32 |
) |
| Gain on settlement of liabilities |
|
|
428 |
|
|
|
|
|
|
|
428 |
|
| Gain on settlement of convertible debt |
|
|
179 |
|
|
|
- |
|
|
|
179 |
|
| Impairment of investments |
|
|
(75 |
) |
|
|
|
|
|
|
(75 |
) |
| Interest income |
|
|
58 |
|
|
|
- |
|
|
|
58 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(7,401 |
) |
|
$ |
(108 |
) |
|
$ |
(7,509 |
) |
|