Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.21.2
Segment Information (Tables)
 6 Months Ended
Feb. 28, 2021
Segment Reporting [Abstract]  
Schedule of oil extraction and processing segment
    February 28, 2021  
    Oil     Mining        
(in ’000s of dollars)   Extraction     Operations     Consolidated  
Additions to non-current assets   $ 4,778     $ -     $ 4,778  
Reportable segment assets     45,554       33,240       78,794  
Reportable segment liabilities   $ 18,076     $ 150     $ 18,226  
    February 29, 2020  
    Oil     Mining        
(in ’000s of dollars)   Extraction     Operations     Consolidated  
Additions to non-current assets   $ 2,116     $ 610     $ 2,726  
Reportable segment assets     41,123       34,025       75,148  
Reportable segment liabilities   $ 17,636     $ 1,000     $ 18,636  
Schedule of segment operating results
    February 28, 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     (365 )     -       (365 )
Gross Profit     1,635       -       1,635  
Operating Expenses                        
Depreciation, depletion and amortization     23       -       23  
Selling, general and administrative expenses     1,751       -       1,751  
Investor relations     40       -       40  
Professional fees     578       -       578  
Salaries and wages     178       -       178  
Share-based compensation     458       -       458  
Travel and promotional expenses     114       -       114  
Other     383       -       383  
                         
Financing costs     1,365       -       1,365  
Other expense (income)     689       -       689  
Gain on settlement of liabilities     48       -       48  
Loss on conversion of convertible debt     313       -       313  
Loss on debt extinguishment     330       -       330  
      (2               (2 )
Derivative liability movements     (749 )     -       (749 )
                         
Net loss   $ 1,444     $ -     $ 1,444  
    February 29, 2020  
(in ’000s of dollars)   Oil
Extraction		     Mining
operations		     Consolidated  
                   
Revenues from hydrocarbon sales   $ 110     $ 59     $ 169  
Other production and maintenance costs     1,406       -       1,406  
Advance royalty payments     -       204       204  
Gross Loss     (1,296 )     (145 )     (1,441 )
Expenses                        
Depreciation, depletion and amortization     86       -       86  
Selling, general and administrative expenses     3,924       3       3,927  
Investor relations     41       -       41  
Professional fees     1,572       1       1,573  
Salaries and wages     495       -       495  
Share-based compensation     407       -       407  
Travel and promotional expenses     632       -       632  
Other     777       2       779  
                         
Financing costs, net     989       -       989  
Other income     (707 )     -       (707 )
Loss on settlement of liabilities     (428 )             (428 )
Loss on settlement of convertible debt     (232 )     -       (232 )
Interest income     (47 )     -       (47 )
Derivative liability movements     659       -       659  
Net loss   $ 6,247     $ 148     $ 6,395