Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.21.2
Segment Information (Tables)
3 Months Ended
Nov. 30, 2020
Segment Reporting [Abstract]  
Schedule of oil extraction and processing segment
    November 30, 2020  
    Oil     Mining        
(in ’000s of dollars)   Extraction     Operations     Consolidated  
Additions to non-current assets   $ 4,173     $ -     $ 4,173  
Reportable segment assets     44,897       33,240       78,137  
Reportable segment liabilities   $ 18,171     $ 100     $ 18,271  
    November 30, 2019  
    Oil     Mining        
(in ’000s of dollars)   Extraction     Operations     Consolidated  
Additions to non-current assets   $ 1,893     $ -     $ 1,893  
Reportable segment assets     40,918       34,794       75,712  
Reportable segment liabilities   $ 13,113     $ 3,970     $ 17,083  
Schedule of segment operating results
    November 30, 2020  
(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     (345 )     -       (345 )
Gross Profit     1,655       -       1,655  
Operating Expenses                        
Depreciation, depletion and amortization     12       -       12  
Selling, general and administrative expenses     1,045       -       1,045  
Investor relations     88       -       88  
Professional fees     399       -       399  
Salaries and wages     88       -       88  
Share-based compensation     200       -       200  
Travel and promotional expenses     83       -       83  
Other     187       -       187  
                         
Financing costs     621       -       621  
Other expense (income)     544       -       544  
Gain on settlement of liabilities     134       -       134  
Loss on conversion of convertible debt     80       -       80  
Loss on debt extinguishment     330       -       330  
Derivative liability movements     (157 )     -       (157 )
                         
Net loss   $ 410     $ -     $ 410  
    November 30, 2019  
(in ’000s of dollars)   Oil Extraction     Mining operations     Consolidated  
                   
Revenues from hydrocarbon sales   $ 101     $             -     $ 101  
Other production and maintenance costs     678       -       678  
Advance royalty payments     -       92       92  
Gross Loss     (577 )     (92 )     (669 )
Expenses                        
Depreciation, depletion and amortization     74       -       74  
Selling, general and administrative expenses     2,379       3       2,382  
Investor relations     24       -       24  
Professional fees     1,026       1       1,027  
Salaries and wages     200       -       200  
Share-based compensation     178       -       178  
Travel and promotional expenses     571       -       571  
Other     380       2       382  
                         
Financing costs, net     509       -       509  
Other income     (416 )     -       (416 )
Gain on settlement of liabilities     (394 )     -       (394 )
Interest income     (22 )     -       (22 )
Derivative liability movements     (35 )     -       (35 )
Net loss   $ 3,088     $ 95     $ 3,183