Shareholders Equity (Tables)

3 Months Ended

Mar. 31, 2021

Shareholders' Equity

Schedule of purchases of equity Shares

				Maximum number
				of shares that
				may yet be
	Total number	Average price		purchased under
	of shares	paid per		the plans or
	purchased	share		programs
Beginning of normal-course issuer bid,  January 1, 2021					1,193,000
January 2021 (1)	—	$	—
February 2021 (1)	62,400	$	4.07
March 2021 (1)	60,800	$	3.92
Total as of March 31, 2021	123,200	$	4.00		1,069,800

⁽¹⁾ Epsilon repurchased these shares under its share repurchase program that commenced on January 1, 2021, as described above.

Schedule of restricted stock activity

	Three months ended		Year ended
	March 31, 2021		December 31, 2020
		Weighted		Weighted
	Number of	Average	Number of	Average
	Shares	Remaining Life	Shares	Remaining Life
	Outstanding	(years)	Outstanding	(years)
Balance non-vested Restricted Stock at beginning of period	290,070	1.60	346,499	1.67
Granted	—	—	111,900	3.00
Vested	—	—	(168,329)	—
Forfeited	(22,000)	1.68	—	—
Balance non-vested Restricted Stock at end of period	268,070	1.34	290,070	1.60

Schedule of assumptions used to calculate grant date fair value

	March 31,		December 31,
	2021		2020
Expected life (in years)		—		0.33 - 3
Expected volatility		—		42.1% - 53.6%
Risk-free rate of return		—		0.10% - 0.17%
Weighted average grant-date fair value per PSU	$	—	$	4.10

Schedule of PSU activity

	Three months ended		Year ended
	March 31, 2021		December 31, 2020
		Weighted		Weighted
	Number of	Average	Number of	Average
	Shares	Remaining Life	Shares	Remaining Life
	Outstanding	(years)	Outstanding	(years)
Balance non-vested PSUs at beginning of period	193,167	1.60	—	—
Granted	—	—	214,000	1.61
Vested	—	—	(20,833)	—
Balance non-vested PSUs at end of period	193,167	1.35	193,167	1.60

Summary of stock option activity

	Three months ended			Year ended
	March 31, 2021			December 31, 2020
		Weighted				Weighted
	Number of	Average		Number of		Average
	Options	Exercise		Options		Exercise
Exercise price in US$	Outstanding	Price (1)		Outstanding		Price (1)
Balance at period-end	245,000	$	5.27		245,000	$	5.27
Exercisable at period-end	245,000	$	5.27		245,000	$	5.27

⁽¹⁾ Exercise price has been converted to US$ using the rate of Cdn$1.33 to US$1, the rate on March 15, 2019, the date Epsilon Energy, Ltd was delisted from the TSX.