ACCOUNTS RECEIVABLE, NET

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET [Text Block]

3. ACCOUNTS RECEIVABLE, NET

The accounts receivable, net balances consist of:

December 31,		2022		2021
Trade receivables from sales of crude oil and natural gas	$	24,097,294	$	18,110,135
Joint interest billing receivables and other		2,368,914		687,500
Accounts receivable, net	$	26,466,208	$	18,797,635

The Company has not had significant credit losses in the past and believes its accounts receivables are fully collectible. As such, no allowance for expected losses has been made as of December 31, 2022 and 2021, and no bad debt expense was recognized in the years presented in these financial statements.