Accrued Liabilites

12 Months Ended

Jul. 31, 2020

Payables and Accruals [Abstract]

Accrued Liabilities

The Company has partnered with others whereby they provide all or a portion of the working capital for either well work to be completed on existing properties or towards the acquisition of new properties. As of July 31, 2020 and 2019, the Company has unused funds it has received of $23,175 and $65,879, respectively.

During the year ended July 31, 2020, various third parties, either forgave monies due from advances for well work or assumed other liabilities totaling $167,705. The $167,705 was from advances comprised of $125,000 received by Kathis Energy and $42,705 received by the Company, from investors, for the drilling of the Richey 2A well. During the year ended July 31, 2020, the Company entered into an agreement with an unrelated third party in which they assumed the obligations of these advances totaling $167,705 and to drill the Richey 2A well. The well was drilled prior to July 31, 2020 releasing the Company and Kathis Energy of any further obligations to the investors for the funds they had advanced.

Accrued liabilities as of July 31:

	July 31, 2020		July 31, 2019
General accrual	$	2,444	$	1,887
Interest	$	62,597	$	47,802
Distributions and royalty	$	15,416	$	15,416
Advances for well work	$	23,175	$	65,879
Winnemucca Property	$	334,000	$	381,770
Investment funds to be used for the development of future properties	$	-	$	125,000
	$	437,632	$	637,754