| Schedule of oil extraction and processing segment |
| |
|
August 31, 2021 |
| |
|
Oil |
|
Mining |
|
|
| (in ’000s of dollars) |
|
Extraction |
|
Operations |
|
Consolidated |
| Additions to non-current assets |
|
$ |
5,513 |
|
|
|
- |
|
|
|
5,513 |
|
| Reportable segment assets |
|
|
47,795 |
|
|
|
33,240 |
|
|
|
81,035 |
|
| Reportable segment liabilities |
|
$ |
(14,782 |
) |
|
|
(100 |
) |
|
|
(14,882 |
) |
| |
|
August 31, 2020 |
| |
|
Oil |
|
Mining |
|
|
| (in ’000s of dollars) |
|
Extraction |
|
Operations |
|
Consolidated |
| Additions to non-current assets |
|
$ |
2,073 |
|
|
$ |
50 |
|
|
$ |
2,123 |
|
| Reportable segment assets |
|
|
40,405 |
|
|
|
33,240 |
|
|
|
73,645 |
|
| Reportable segment liabilities |
|
$ |
(19,416 |
) |
|
$ |
(100 |
) |
|
$ |
(19,516 |
) |
|
| Schedule of segment operating results |
| |
|
August 31, 2021 |
| (in ’000s of dollars) |
|
Oil
Extraction |
|
Mining
operations |
|
Consolidated |
| Revenue from license fees |
|
$ |
2,000 |
|
|
$ |
- |
|
|
$ |
2,000 |
|
| Revenues from hydrocarbon sales |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Production and maintenance costs |
|
|
(2,091 |
) |
|
|
- |
|
|
|
(2,091 |
) |
| Gross Loss |
|
|
(91 |
) |
|
|
- |
|
|
|
(91 |
) |
| Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation, depletion and amortization |
|
|
46 |
|
|
|
- |
|
|
|
46 |
|
| Selling, general and administrative expenses |
|
|
4,219 |
|
|
|
- |
|
|
|
4,219 |
|
| Investor relations |
|
|
45 |
|
|
|
- |
|
|
|
45 |
|
| Professional fees |
|
|
1,597 |
|
|
|
- |
|
|
|
1,597 |
|
| Salaries and wages |
|
|
350 |
|
|
|
- |
|
|
|
350 |
|
| Share-based compensation |
|
|
666 |
|
|
|
- |
|
|
|
666 |
|
| Travel and promotional expenses |
|
|
701 |
|
|
|
- |
|
|
|
701 |
|
| Other |
|
|
860 |
|
|
|
- |
|
|
|
860 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Financing costs |
|
|
4,727 |
|
|
|
- |
|
|
|
4,727 |
|
| Other expense (income) |
|
|
1,564 |
|
|
|
- |
|
|
|
1,564 |
|
| Loss on settlement of liabilities |
|
|
48 |
|
|
|
- |
|
|
|
48 |
|
| Loss on conversion of convertible debt |
|
|
1,034 |
|
|
|
- |
|
|
|
1,034 |
|
| Loss on debt extinguishment |
|
|
417 |
|
|
|
- |
|
|
|
417 |
|
| Penalty on convertible notes |
|
|
203 |
|
|
|
|
|
|
|
203 |
|
| Forgiveness of federal relief loans |
|
|
(134 |
) |
|
|
|
|
|
|
(134 |
) |
| Interest income |
|
|
(4 |
) |
|
|
|
|
|
|
(4 |
) |
| Derivative liability movements |
|
|
(1,173 |
) |
|
|
- |
|
|
|
(1,173 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(9,474 |
) |
|
$ |
- |
|
|
$ |
(9,474 |
) |
| |
|
August 31, 2020 |
| (in ’000s of dollars) |
|
Oil
Extraction |
|
Mining operations |
|
Consolidated |
| Revenues from hydrocarbon sales |
|
$ |
291 |
|
|
$ |
- |
|
|
$ |
291 |
|
| Other production and maintenance costs |
|
|
(1,714 |
) |
|
|
- |
|
|
|
(1,714 |
) |
| Advance royalty payments |
|
|
- |
|
|
|
(988 |
) |
|
|
(988 |
) |
| Gross Loss |
|
|
(1,423 |
) |
|
|
(988 |
) |
|
|
(2,411 |
) |
| Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation, depletion and amortization |
|
|
104 |
|
|
|
- |
|
|
|
104 |
|
| Selling, general and administrative expenses |
|
|
6,180 |
|
|
|
4 |
|
|
|
6,184 |
|
| Investor relations |
|
|
(92 |
) |
|
|
- |
|
|
|
(92 |
) |
| Professional fees |
|
|
2,613 |
|
|
|
1 |
|
|
|
2,614 |
|
| Salaries and wages |
|
|
1,044 |
|
|
|
- |
|
|
|
1,044 |
|
| Share-based compensation |
|
|
888 |
|
|
|
- |
|
|
|
888 |
|
| Travel and promotional expenses |
|
|
714 |
|
|
|
- |
|
|
|
714 |
|
| Other |
|
|
1,013 |
|
|
|
3 |
|
|
|
1,016 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Financing costs |
|
|
2,672 |
|
|
|
- |
|
|
|
2,672 |
|
| Impairment of investments |
|
|
75 |
|
|
|
- |
|
|
|
75 |
|
| Other expense (income) |
|
|
746 |
|
|
|
- |
|
|
|
746 |
|
| Gain on settlement of liabilities |
|
|
(525 |
) |
|
|
- |
|
|
|
(525 |
) |
| Loss on conversion of convertible debt |
|
|
745 |
|
|
|
- |
|
|
|
745 |
|
| Gain on debt extinguishment |
|
|
(55 |
) |
|
|
- |
|
|
|
(55 |
) |
| Penalty on convertible note |
|
|
610 |
|
|
|
- |
|
|
|
610 |
|
| Other income |
|
|
(29 |
) |
|
|
- |
|
|
|
(29 |
) |
| Derivative liability movements |
|
|
187 |
|
|
|
- |
|
|
|
187 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
11,387 |
|
|
$ |
992 |
|
|
$ |
12,379 |
|
|