Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS

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CONDENSED CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS - USD ($)
3 Months Ended 6 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Feb. 29, 2020
Feb. 28, 2019
Income Statement [Abstract]        
Revenues from hydrocarbon sales $ 68,509 $ 21,248 $ 169,041 $ 21,248
Production and maintenance costs 728,309   1,405,772  
Advance royalty payments 111,591 137,995 203,862 171,745
Gross Loss (771,391) (116,747) (1,440,593) (150,497)
Operating Expenses        
Depreciation, depletion and amortization 11,522 16,343 85,842 32,516
Selling, general and administrative expenses 1,545,023 2,305,020 3,927,105 6,111,009
Financing costs, net 479,548 1,162,769 988,842 1,640,343
Derivative liability movements 695,432   659,885  
Total expenses, net 2,731,525 3,484,132 5,661,674 7,783,868
Net loss from operations 3,502,916 3,600,879 7,102,267 7,934,365
(Gain) loss on settlement of liabilities (265,360) (14,482) (427,907) 477,987
Loss (gain) on settlement of convertible debt   20,137 (231,862) 99,547
Interest income (25,318) (32,664) (47,589) (58,923)
Net loss before income tax and equity loss 3,212,238 3,573,870 6,394,909 8,452,976
Income tax expense 0 0 0 0
Equity loss from investment of Accord GR Energy, net of tax   50,000   100,000
Net loss and comprehensive loss $ 3,212,238 $ 3,623,870 $ 6,394,909 $ 8,552,976
Weighted Average Number of Shares Outstanding - Basic and Diluted 202,239,760 93,363,698 197,106,454 92,527,789
Basic and Diluted Loss per Share $ 0.02 $ 0.04 $ 0.03 $ 0.09