Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.21.2
Segment Information (Tables)
9 Months Ended
May 31, 2020
Segment Reporting [Abstract]  
Schedule of oil extraction and processing segment
    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  
    May 31, 2019  

 

(in ’000s of dollars)

  Oil
Extraction
    Mining operations     Consolidated  
Additions to non-current assets   $ 7,851     $ 10,800     $ 18,651  
Reportable segment assets     37,291       19,655       56,946  
Reportable segment liabilities   $ 10,584     $ 169     $ 10,753  
Schedule of segment operating results
    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 )
    May 31, 2019  
(in ’000s of dollars)   Oil
Extraction
   

Mining

operations

    Consolidated  
                   
Revenues from hydrocarbon sales   $ 59     $ -     $ 59  
Other production and maintenance costs     729             729
Advance royalty payments     -       199       199
Gross Loss     (670 )     (199 )     (869 )
Operating Expenses                        
Depreciation, depletion and amortization     (54 )             (54 )
Selling, general and administrative expenses     (9,330 )     (13 )     (9,343 )
Financing costs, net     (2,534 )     -       (2,534 )
Loss on settlement of liabilities     (98 )     -       (98 )
Loss on settlement of convertible debt     (100 )     -       (100 )
Equity loss from investment of Accord GR Energy     (150 )             (150 )
Interest income     95       -       95  
Net loss   $ (12,841 )   $ (212 )   $ (13,053 )