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Consolidated Statements of Operations and Comprehensive Loss
12 Months Ended
Sep. 30, 2023
USD ($)
$ / shares
shares
Sep. 30, 2022
USD ($)
$ / shares
shares
Revenues    
Oil and gas sales $ 665,623 $ 815,391
Royalty income 23,204 63,068
Total revenues 688,827 878,459
Operating expenses    
Lease operating expense 879,471 829,194
General and administrative 3,536,118 2,796,395
Depletion and depreciation 154,834 105,503
Accretion on asset retirement obligations 31,976 55,030
Loss on settlement of asset retirement obligations 66,067
Total operating expenses (4,668,466) (3,786,122)
Loss from operations (3,979,639) (2,907,663)
Other income (expense)    
Interest income 108 5,895
Other income 24,000 24,000
Foreign exchange gain (loss) (3,671) 7,429
Forgiveness of loan payable 7,800
Finance expense (4,259) (30,586)
Change in fair value of warrant liability 22,570 178,509
Gain on settlement of warrant liability 930
Total other income 39,678 193,047
Net loss and comprehensive loss (3,939,961) (2,714,616)
Deemed dividend arising from warrant modification (543,234)
Net loss $ (4,483,195) $ (2,714,616)
Basic loss and comprehensive loss per common share | $ / shares $ (8.81) $ (7.04)
Diluted loss and comprehensive loss per common share | $ / shares $ (8.81) $ (7.04)
Weighted average number of common shares outstanding - Basic | shares 508,813 [1] 385,756 [1]
Weighted average number of common shares outstanding - Diluted | shares 508,813 [1] 385,756 [1]
[1] The number of shares has been restated to reflect the 60:1 reverse stock split effective on November 2, 2022 and the 4:1 reverse stock split effective on October 23, 2023 (Note 1). All historical share and per share amounts reflected in this report have been adjusted to reflect the reverse stock splits.