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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 7,123,068 $ 8,622,815
Restricted cash 3,375,395 0
Accounts receivable, net 26,466,208 18,797,635
Derivative assets 2,019,600 0
Prepaid expenses 1,075,697 535,474
Total current assets 40,059,968 27,955,924
Oil and natural gas properties, full-cost method:    
Evaluated 347,541,801 110,155,103
Unproved and unevaluated 42,866,767 24,987,312
Less: accumulated depreciation, depletion and amortization (87,993,495) (25,911,025)
Oil and natural gas properties, net 302,415,073 109,231,390
Other noncurrent assets:    
Operating lease assets 548,963 434,488
Derivative assets 1,057,479 0
Total assets 344,081,483 137,621,802
Current liabilities    
Accounts payable and accrued liabilities 96,432,486 48,245,677
Corporate credit facility 41,500,000 2,200,000
Current portion of operating lease liabilities 210,157 119,371
Current portion of long-term debt (net) 60,226,919 7,059,834
Accrued liability for automatic share purchase plan 4,670,507 0
Derivative liabilities 0 6,479,508
Total current liabilities 203,040,069 64,104,390
Long-term debt, net 48,678,708 16,139,307
Operating lease liabilities 401,734 389,218
Asset backed preferred instrument 0 18,687,351
Derivative liabilities 0 13,901,672
Asset retirement obligations 458,078 431,704
Deferred income tax liability 0 1,928,319
Total liabilities 252,578,589 115,581,961
Redeemable non-controlling interest 107,583,737 46,552,839
SHAREHOLDERS’ DEFICIENCY    
Additional paid-in capital 36,436,307 40,252,848
Accumulated deficit (76,210,173) (83,638,308)
Shareholders' equity (deficit) attributable to the Company 9,000,921 28,687
Non-controlling interest (25,081,764) (24,541,685)
Total Shareholders’ Deficiency (16,080,843) (24,512,998)
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND SHAREHOLDERS’ DEFICIENCY 344,081,483 137,621,802
Subordinate Voting Shares [Member]    
SHAREHOLDERS’ DEFICIENCY    
Share capital 47,595,028 41,989,020
Multiple Voting Shares [Member]    
SHAREHOLDERS’ DEFICIENCY    
Share capital 1,051,546 1,296,914
Proportionate Voting Shares [Member]    
SHAREHOLDERS’ DEFICIENCY    
Share capital $ 128,213 $ 128,213