v3.23.2

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Oil and gas sales
Total Revenue	$ 2,158,110	$ 1,723,706	$ 5,132,360	$ 4,054,313
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	Oil and Gas [Member]	Oil and Gas [Member]	Oil and Gas [Member]	Oil and Gas [Member]
Operating expenses
Lease operating expense	$ 2,455,765	$ 1,578,290	$ 5,354,001	$ 3,726,759
Production tax		1	438	1,164
General and administrative expenses	192,886	154,554	490,489	676,510
Depreciation, depletion and amortization	53,755	142,456	166,953	578,880
Asset retirement obligation accretion	43,895	93,787	129,793	275,511
Total operating expenses	2,746,301	1,969,088	6,141,674	5,258,824
Loss from operations	(588,191)	(245,382)	(1,009,314)	(1,204,511)
Other income (expenses)
Interest expense	(131,703)	(148,576)	(379,720)	(478,526)
Other income (expense)		56,680	5,521	56,680
Change in fair value of derivative liabilities	4,474	264,794	21,813	160,189
Total other income (expenses)	(127,229)	172,898	(352,386)	(261,657)
Net loss before taxes	(715,420)	(72,484)	(1,361,700)	(1,466,168)
Series A Preferred Dividends	(44,797)	(44,825)	(134,392)	(134,393)
Series C Preferred Dividends	(2,218)		(6,478)
Net Loss Attributable to Common Stockholders	$ (762,435)	$ (117,309)	$ (1,502,570)	$ (1,600,561)
Loss per share
(Basic and fully diluted)	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.01)
Weighted average number of common shares outstanding, basic & diluted	176,988,322	176,988,322	176,988,322	174,910,384
Other comprehensive income, net of tax
Foreign currency translation adjustments	$ (40,339)	$ 48,814	$ (73,241)	$ 11,409
Comprehensive income (loss)	$ (802,774)	$ (68,495)	$ (1,575,811)	$ (1,589,152)

Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 20
-Section 45
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6392676&loc=d3e7480-110848

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)(3)
-URI https://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849

Petrolia Energy Corp 10-Q/A