RECLAMATION AND RESTORATION PROVISIONS (Details) - USD ($) |
6 Months Ended | 12 Months Ended |
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Feb. 29, 2020 |
Aug. 31, 2019 |
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Beginning Balance | $ 2,970,497 | $ 583,664 |
Accretion expense | 0 | 11,674 |
Reevaluation of reclamation and restoration provision | 2,375,159 | |
Ending Balance | 2,970,497 | 2,970,497 |
Oil Extraction Facility [Member] | ||
Beginning Balance | 498,484 | 371,340 |
Accretion expense | 0 | 7,428 |
Reevaluation of reclamation and restoration provision | 119,716 | |
Ending Balance | 498,484 | 498,484 |
Site Restoration [Member] | ||
Beginning Balance | 2,472,013 | 212,324 |
Accretion expense | 4,246 | |
Reevaluation of reclamation and restoration provision | 2,255,443 | |
Ending Balance | $ 2,472,013 | $ 2,472,013 |
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- Definition Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of a reclamation liability that is associated with a legal obligation for the closure and reclamation of oil and gas properties. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Adjustment of the mine reclamation or mine shutdown liability account that is made when estimates of future costs are changed. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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