Discovery Energy (DENR) 10-K 16 Jul 20 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Feb. 29, 2020	Jul. 16, 2020	Aug. 30, 2019
Cover [Abstract]
Entity Registrant Name	Discovery Energy Corp.
Entity Central Index Key	0001435387
Document Type	10-K
Document Period End Date	Feb. 29, 2020
Amendment Flag	false
Current Fiscal Year End Date	--02-29
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filer	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 12,127,219
Entity Common Stock, Shares Outstanding		154,090,396
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Feb. 29, 2020	Feb. 28, 2019
Current Assets
Cash	$ 8,115	$ 405,908
Prepaid expenses	34,480	23,246
Tax receivable	624	1,311
Total Current Assets	43,219	430,465
Oil and gas property - not subject to amortization (successful efforts method)	2,883,915	2,883,915
Other assets	32,620	35,730
Total Assets	2,959,754	3,350,110
Current Liabilities
Accounts payable and accrued liabilities	2,223,339	1,409,658
Accounts payable - related parties, net	814,399	149,190
Total Current Liabilities	3,037,738	1,558,848
Convertible debentures payable, net of debt discount	4,744,804	3,182,027
Total Liabilities	7,782,542	4,740,875
Commitments and Contingencies
Shareholders' Deficit
Preferred stock - 10,000,000 shares authorized, zero issued and outstanding
Common stock - 500,000,000 shares authorized, $0.001 par value - 153,840,396 and 148,240,396 shares issued and outstanding, respectively	153,840	148,240
Additional paid-in capital	20,447,198	18,059,682
Accumulated other comprehensive income	154,199	76,205
Accumulated deficit	(25,578,025)	(19,674,892)
Total Shareholders' Deficit	(4,822,788)	(1,390,765)
Total Liabilities and Shareholders' Deficit	$ 2,959,754	$ 3,350,110

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Feb. 29, 2020	Feb. 28, 2019
Statement of Financial Position [Abstract]
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	500,000,000	500,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	153,840,396	148,240,396
Common stock, shares outstanding	153,840,396	148,240,396

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Operating Expenses
General and administrative	$ 3,613,874	$ 1,248,775
Exploration costs	48,000	264,847
Total operating expenses	3,661,874	1,513,622
Operating loss	(3,661,874)	(1,513,622)
Other Income (Expense)
Interest expense	(2,243,062)	(2,344,975)
Miscellaneous income	1,229	70,681
Gain on foreign currency transactions	574	2,284
Other income (expenses)	(2,241,259)	(2,272,010)
Net loss	$ (5,903,133)	$ (3,785,632)
Loss per common share - basic and diluted	$ (0.04)	$ (0.03)
Weighted average number of common shares outstanding - basic and diluted	152,316,216	145,861,218
Comprehensive Income (Loss)
Net loss	$ (5,903,133)	$ (3,785,632)
Other comprehensive income (loss) - gain on foreign currency translation	77,994	71,449
Total comprehensive loss	$ (5,825,139)	$ (3,714,183)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Deficit) - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income [Member]	Total
Balance at Feb. 28, 2018	$ 143,040	$ 4,520,275	$ (19,516,772)	$ 4,756	$ (14,848,701)
Balance, shares at Feb. 28, 2018	143,040,396
Modified retroactive adjustment for derivative liability		12,544,607	3,627,512		16,172,119
Common stock issued for cash, net	$ 5,200	994,800			1,000,000
Common stock issued for cash, net, shares	5,200,000
Net loss			(3,785,632)		(3,785,632)
Gain on foreign currency translation				71,449	71,449
Balance at Feb. 28, 2019	$ 148,240	18,059,682	(19,674,892)	76,205	(1,390,765)
Balance, shares at Feb. 28, 2019	148,240,396
Share-based compensation	$ 3,950	798,550			802,500
Share-based compensation, shares	3,950,000
Warrant modification expense		1,184,366			1,184,366
Sale of common stock	$ 1,650	404,600			406,250
Sale of common stock, shares	1,650,000
Net loss			(5,903,133)		(5,903,133)
Gain on foreign currency translation				77,994	77,994
Balance at Feb. 29, 2020	$ 153,840	$ 20,447,198	$ (25,578,025)	$ 154,199	$ (4,822,788)
Balance, shares at Feb. 29, 2020	153,840,396

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Cash flows from operating activities
Net loss	$ (5,903,133)	$ (3,785,632)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount	1,562,777	1,427,722
Interest expense related to derivative liabilities in excess of debt		295,662
Stock-based compensation	802,500
Warrant modification expense	1,184,366
Foreign currency transaction (gain) loss	(574)	2,284
Changes in operating assets and liabilities:
Prepaid expenses	(11,234)	67,476
Tax receivable	687	226
Accounts payable and accrued liabilities	817,365	596,866
Accounts payable - related party, net	665,209	118,714
Net cash used in operating activities	(882,037)	(1,276,682)
Cash flows from financing activities
Proceeds from issuance of convertible debentures		350,000
Proceeds from sale of common stock	406,250	1,000,000
Net cash flows provided by financing activities	406,250	1,350,000
Effect of foreign currency translation on cash	77,994	71,449
Change in cash during the period	(397,793)	144,767
Cash, beginning of the period	405,908	261,141
Cash, end of the period	8,115	405,908
Supplemental disclosures:
Interest paid
Income taxes paid
Noncash investing and financing activities:
Modified retroactive adjustment for derivative liabilities		$ 16,172,119

Nature of Operations

Nature of Operations	12 Months Ended
	Feb. 29, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations The principal business of Discovery Energy Corp. (“Company”) is the exploration and development of the 584,651 gross acres (914 sq. miles) in South Australia (“Prospect”) covered by Petroleum Exploration License PEL 512 (“License”). In May 2012, the Company incorporated a wholly-owned Australian subsidiary, Discovery Energy SA Ltd., for the purpose of acquiring a 100% working interest in the License. On May 25, 2016, its status changed from a public to a private legal entity and its name to Discovery Energy SA Pty Ltd. (“Subsidiary”). To date, the Company has not determined whether or not the Prospect, which overlies portions of the Cooper and Eromanga basins, contains any crude oil and/or natural gas reserves that are economically recoverable. While the Company’s present focus is on the Prospect, it may consider pursuing other attractive crude oil and/or natural gas exploration opportunities.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Feb. 29, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules of the U.S. Securities and Exchange Commission (“SEC”). Principles of Consolidation These consolidated financial statements include the accounts of the Company and the Subsidiary. Inter-company transactions and balances have been eliminated upon consolidation. Use of Estimates The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of these financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of acquisition to be cash equivalents. The Company maintains its cash in bank accounts which, at times, may exceed federally insured limits as guaranteed by the Federal Deposit Insurance Corporation. As of February 29, 2020, approximately $2,500 of the Company’s cash balances were uninsured. The Company has not experienced any losses on such accounts. Oil and Gas Property and Exploration Costs The Company is in the exploration stage of evaluating the Prospect and has not yet realized any revenues from its operations. It applies the successful efforts method of accounting for crude oil and natural gas properties. Under this method, exploration costs such as exploratory geological and geophysical costs, delay rentals and exploratory overhead are expensed as incurred. Costs to acquire mineral interests in crude oil and/or natural gas properties, drill and equip exploratory wells that find proved reserves and drill and equip development wells are capitalized. Acquisition costs of unproved leaseholds are assessed for impairment during the holding period and transferred to proven crude oil and/or natural gas properties to the extent associated with successful exploration activities. Significant undeveloped leases are assessed individually for impairment, based on the Company’s current exploration plans, and a valuation allowance is provided if impairment is indicated. Capitalized costs from successful exploration and development activities associated with producing crude oil and/or natural gas leases, along with capitalized costs for support equipment and facilities, are amortized to expense using the unit-of-production method based on proved crude oil and/or natural gas reserves on a field-by-field basis, as estimated by qualified petroleum engineers. Long-lived Assets The carrying values of long-lived assets are reviewed on a regular basis for the existence of facts or circumstances that may suggest impairment. The Company recognizes impairment when the sum of the expected undiscounted future cash flows is less than the carrying amount of the asset. Impairment losses, if any, are measured as the excess of the carrying amount of the asset over its estimated fair value. Fair Value of Financial Instruments and Derivative Financial Instruments The carrying amounts of cash, receivables, accounts payable, accrued liabilities and shareholder loans approximate their fair values due to the short maturity of these items. Certain fair value estimates may be subject to and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates. The Company does not hold or issue financial instruments for trading purposes, nor does it utilize derivative instruments in the management of its foreign exchange, commodity price, and/or interest rate market risks. Income Taxes Deferred income taxes are reported for timing differences between items of income or expense reported in these financial statements and those reported for income tax purposes. The Company uses the asset/liability method of accounting for income taxes. Deferred income taxes and tax benefits are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases, and for tax loss and credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company provides a valuation allowance for deferred taxes for the estimated future tax effects attributable to temporary differences and carry-forwards when realization is not more likely than not. The Tax Cuts and Jobs Act of 2017 was signed into law on December 22, 2017. The law includes significant changes to the U.S. corporate income tax system, including a federal corporate rate reduction from 34% to 21%. In accordance with ASC 740, the impact of a change in the tax law is recorded in the period of enactment. The Company accounts for uncertain income tax positions by recognizing in the financial statements, the impact of a tax position, if that position is more likely than not of being sustained on examination by taxation authorities, based on the technical merits of the position. Foreign Currency Translation The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated using exchange rates prevailing at the balance sheet date. Non-monetary assets are translated at historical exchange rates, and revenue and expense items at average rates of exchange prevailing during the period. Differences resulting from translation are presented in equity as accumulated other comprehensive income (loss). Gains and losses arising on settlement of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency transactions are primarily undertaken in Canadian and Australian dollars. The Company has not, to the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. Fair Value Considerations Historically, the Company followed Accounting Standards Codification (“ASC”) 820, “ Fair Value Measurements and Disclosures There are three levels of inputs to fair value measurements - Level 1, meaning the use of quoted prices for identical instruments in active markets; Level 2, meaning the use of quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or are directly or indirectly observable; and Level 3, meaning the use of unobservable inputs. The Company uses Level 1 inputs for its fair value measurements whenever there is an active market, with actual quotes, market prices, and observable inputs on the measurement date. The Company uses Level 2 inputs for fair value measurements whenever there are quoted prices for similar securities in an active market or quoted prices for identical securities in an inactive market. The Company uses observable market data whenever available. In accordance with ASC 815-40-25 and ASC 815-10-15 “Derivatives and Hedging” Liabilities-Distinguishing Liabilities from Equity” In July 2017, the FASB issued Accounting Standards Update (“ASU”) 2017-11, Earnings Per Share Distinguishing Liabilities from Equity Derivatives and Hedging Accounting for Certain Financial Instruments with Down Round Features Loss Per Share Basic Earnings Per Share (“EPS”) is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used to determine the number of shares assumed to be purchased from the exercise of stock options and/or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. For the year ended February 29, 2020 and February 28, 2019, the following share equivalents related to convertible debt and warrants to purchase shares of common stock were excluded from the computation of diluted net loss per share, as the inclusion of such shares would be anti-dilutive. Year Ended Year Ended Common Shares Issuable for: February 29, 2020 February 28, 2019 Convertible debt 54,183,862 50,042,556 Stock warrants 19,125,000 19,125,000 73,308,862 69,167,556 Comprehensive Income (Loss) The Company recognizes currency translation adjustments as a component of comprehensive income (loss). Recent Accounting Pronouncements In August 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows Classification of Certain Cash Receipts and Cash Payments In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” “Leases (Topic 842): Targeted Improvements” On March 1, 2019, the Company adopted Topic 842 and elected practical expedients provided by the new standard whereby, the Company has elected to not reassess its prior conclusions about lease identification, lease classification, and initial direct costs and to retain off-balance sheet treatment of short-term leases (i.e., 12 months or less and does not contain a purchase option that the Company is reasonably certain to exercise). As a result of the short-term expedient election, the Company has no leases that require the recording of a net lease asset and lease liability on the Company’s consolidated balance sheet or have a material impact on consolidated earnings or cash flows as of March 1, 2019 or February 29, 2020. Moving forward, the Company will evaluate any new lease commitments for application of Topic 842. In July 2017, the FASB issued ASU 2017-11, Earnings Per Share Distinguishing Liabilities from Equity Derivatives and Hedging Accounting for Certain Financial Instruments with Down Round Features The Company does not anticipate that the adoption of other recently issued accounting pronouncements will have a significant impact on its financial statements.

Going Concern

Going Concern	12 Months Ended
	Feb. 29, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	3. Going Concern These financial statements were prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has not generated revenues since inception, and is unlikely to generate earnings in the immediate or foreseeable future. The continuation of the Company as a going concern is dependent upon the ability of the Company to obtain necessary equity or debt financing to continue operations, successfully develop the Prospect and/or obtain producing properties, with a goal of attaining profitable operations. The Company is currently attempting to complete a significant financing, and in this connection might (a) place a significant amount of additional debentures similar to those described below, (b) secure an alternative financing arrangement, possibly involving the Company’s equity securities, or (c) some combination of (a) and (b). The Company has no assurance that it will be able to raise significant additional funds to develop the Prospect or the additional funds needed for general corporate purposes. As of February 29, 2020, the Company had not generated any revenues and had an accumulated loss of $25,578,025 since inception. The cash balance of the Company was $8,115 as of February 29, 2020. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern for the 12 months following the issuance of these financial statements. These financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The current COVID-19 pandemic could continue to, and future similar epidemics or pandemics could also, materially and adversely impact our ability to finance and conduct our business once it becomes operational, and could materially and adversely impact our operations, financial condition and results. The COVID-19 pandemic had no impact on the Company’s current operations. The Company had and continues to have the same staff, same service providers and same processes as was the case prior to the pandemic.

Oil and Gas Properties

Oil and Gas Properties	12 Months Ended
	Feb. 29, 2020
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Oil and Gas Properties	4. Oil and Gas Properties The License covers 584,651 gross acres (914 sq. miles) in the State of South Australia. The License grants a 100% working interest in the preceding acreage, which overlies portions of the Cooper and Eromanga basins. On October 26, 2012, a 100% interest in the License was officially issued to the Subsidiary. On May 19, 2014, the Company received notice from the Government of South Australia that it had issued certain modifications to the License and had suspended the License for a period of six months. Such a suspension functions like an extension. Under the amended License, the Company is required to drill 7 exploratory wells rather than 12, as originally required. The 7 required wells must be drilled in years 3, 4, and 5 (2, 2, and 3 wells, respectively). The amount of required 2D seismic was also reduced to 62 miles (100 km.) in year 3 from 155 miles (250 km.) in year 2 but the total 3D seismic work guarantee increased to 193 sq. miles (500 sq. km.) from 154 sq. miles (400 sq. km.). However, the 3D seismic survey requirement is spread over three years with 39 sq. miles (100 sq. km.) in year 2, 77 sq. miles (200 sq. km.) in year 3 and 77 sq. miles (200 sq. km.) in year 4. Subsequent to this modification and suspension, the Company received two additional six-month suspensions, one in February 2015 and one in July 2015 (this additional suspension commenced upon the conclusion of the suspension received in February 2015). In February 2016, the Company received a third additional suspension, which was for one year and which commenced upon the conclusion of the suspension received in July 2015. Combined, these three additional suspensions amount to an accumulated total suspension of two years. On June 22, 2016, the Company terminated the February 2016 License suspension in preparation for a 3D seismic survey (the “ Nike Survey In July 2017, the License suspension was lifted in order to conduct a Work Area Clearance Survey (“ WAC July 2019, and January 2020 As a result of the activities, modifications and suspensions described above, the remaining work commitments are now as follows: * Year 3 ending October 28, 2020 - Shoot 2D seismic data totaling at least approximately 62 miles (100 km.) and shoot 3D seismic data totaling at a minimum approximately 77 sq. miles (200 sq. km.) and drill two wells. * Year 4 ending October 29, 2021 - Shoot 3D seismic data totaling at a minimum approximately 77 sq. miles (200 sq. km.) and drill two wells. * Year 5 ending October 29, 2022 - Drill three wells. In four transactions, the Company acquired portions of the royalty interest associated with the PEL 512 License so that the Company now owns an aggregate 5.0% royalty interest, while the previous holders of the original 7.0% royalty interest continue to hold a 2.0% royalty interest. The Company does not believe that it will be able to complete its Year 3 commitment obligations by October 28, 2020 due date. Accordingly, the Company expects to seek an extension of such obligations prior to the due date. While the Company has to date been successful in obtaining such extensions, it has no assurance that any further extensions will be obtained.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Feb. 29, 2020
Related Party Transactions [Abstract]
Related Party Transactions	5. Related Party Transactions As of February 29, 2020 and February 28, 2019, the Company owed $814,399 and $149,190, respectively, to certain Company directors for accrued compensation and reimbursement of expenses paid on behalf of the Company. During fiscal year 2020, the Company entered an agreement with Keith D. Spickelmier, the Company’s Chairman of the Board, as a consultant. The Company paid a consulting fee for the year ended February 29, 2020 of $52,000. During fiscal year 2020, the Company entered into a consulting agreement with an affiliated entity owned by Keith McKenzie, the Company’s Chief Executive Officer. The Company paid a consulting fee for the year ended February 29, 2020 of $55,000 On January 8, 2019, the Company paid bonuses to the Chairman of the Board and the officers as follows: Keith Spickelmier, Chairman of the Board $ 30,000 Keith McKenzie, Chief Executive Officer $ 5,000 William Begley, President, Chief Operating Officer and Chief Financial Officer $ 15,000 Sean Austin, Treasurer and Secretary $ 5,000 On April 15, 2019, the Board of Directors of the Company approved an award of shares of the Company’s common stock to several of the Company’s officers, each of whom is also a director of the Company. In approving these awards, each director abstained from participating in the consideration and approval of such director’s own award. The shares were awarded for services provided to the Company as officers over the past seven years, and were made pursuant to the Company’s 2012 Equity Incentive Plan. The awarded shares were fully vested at the time of the award and can be immediately sold, subject to applicable federal securities law restrictions on such sales. The following table provides information about the officers receiving an award and the number of shares awarded: Name of Officer Offices Held Number of Award Shares Keith D. Spickelmier Chairman of the Board 1,250,000 Keith J. McKenzie Chief Executive Officer 500,000 William E. Begley President, Chief Financial Officer and Chief Operating Officer 750,000 The fair value of these shares was $500,000 based on the market price of $0.20 per share on the grant date.

Convertible Debentures Payable

Convertible Debentures Payable	12 Months Ended
	Feb. 29, 2020
Debt Disclosure [Abstract]
Convertible Debentures Payable	6. Convertible Debentures Payable From May 27, 2016 through February 29, 2020, the Company issued eleven rounds (I thru XI) of senior secured convertible debentures, the proceeds of which have funded the initial Nike Survey with respect to the Prospect, the interpretation of seismic data acquired, expenses associated with the Nike Survey, costs associated with the debenture issuances, and general and administrative expenses. The debentures are secured by virtually all of the Company’s assets owned, directly or indirectly, but for the License. As discussed elsewhere, the Company may in the future sell additional senior secured convertible debentures having the same terms as those currently outstanding. The table below provides a summary of the senior secured convertible debentures issued through February 29, 2020 and related debt discount and amortization details. Round Issue Maturity Interest Conversion Principal Debt Debentures, Outstanding as of February 28, 2019: I May 27, 2016 May 27, 2021 8 % $ 0.16 $ 3,500,000 $ 3,500,000 II Aug 16, 2016 May 27, 2021 8 % $ 0.16 200,000 199,999 Aug 16, 2016 May 27, 2021 8 % $ 0.16 250,000 250,000 III Dec 30, 2016 May 27, 2021 8 % $ 0.16 287,500 237,587 IV Feb 15, 2017 May 27, 2021 8 % $ 0.16 1,000,000 1,000,000 V Mar 31,2017 May 27, 2021 8 % $ 0.20 200,000 200,000 VI Jul 5, 2017 May 27, 2021 8 % $ 0.20 137,500 137,500 Jul 5, 2017 May 27, 2021 8 % $ 0.16 150,000 150,000 VII Sept 19, 2017 May 27, 2021 8 % $ 0.16 400,000 400,000 Sept 19, 2017 May 27, 2021 8 % $ 0.16 100,000 82,125 VIII Oct 10, 2017 May 27, 2021 8 % $ 0.20 137,500 72,806 IX Jan 3, 2018 May 27, 2021 8 % $ 0.20 137,500 137,500 X April 2, 2018 May 27, 2021 8 % $ 0.20 137,500 137,500 XI May 16, 2018 May 27, 2021 8 % $ 0.20 212,500 212,500 Amortized discount as of February 28, 2019 (3,049,544 ) Balance as of February 28, 2019 6,850,000 3,667,973 $ 3,182,027 Activity for the year ended February 29, 2020: Amortization of discount for the year ended February 29, 2020 (1,562,777 ) Balance as of February 29, 2020 $ 6,850,000 $ 2,105,196 $ 4,744,804 The Company recognized $1,562,777 and $1,427,722 of debt discount amortization during the years ended February 29, 2020 and February 28, 2019, respectively. During the years ended February 29, 2020 and February 28, 2019, the Company incurred interest expense directly related to the Convertible Debentures of $680,284 and $620,622, respectively, at a rate of 8% per year, compounded quarterly.

Derivative Liabilities

Derivative Liabilities	12 Months Ended
	Feb. 29, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Liabilities	7. Derivative Liabilities Historically, the Company accounted for certain instruments as derivative instruments in accordance with FASB ASC 815-40, Derivative and Hedging – Contracts in Entity’s Own Equity As of March 1, 2018, the Company early adopted ASU 2017-11, which revised the guidance for instruments with price-reset provisions. As such, the Company treats outstanding warrants as free-standing equity-linked instruments that are recorded to equity in the consolidated balance sheet as of March 1, 2018. The impact of the adoption was as follows: Derivative liabilities $ (16,172,119 ) Additional paid-in capital $ 12,544,607 Accumulated deficit 3,627,512 Total stockholders’ deficit $ 16,172,119

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Feb. 29, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Office Lease Change in Accounting Policy. “Leases (Topic 842)” “Leases (Topic 842): Targeted Improvements” The Company leases virtual office space in Houston, Texas, with a 4-month term ending March 31, 2020 for $193 per month and has a remaining obligation as of February 29, 2020 of $193. The Subsidiary leases virtual office space in Melbourne, Australia, on a month-to-month basis for AU$175. The Company’s server space is also leased on a month-to-month basis for CA$500 inside the office of Keith McKenzie, an officer and director of the Company. During the year ended February 29, 2020 and February 28, 2019, the Company incurred lease expense of $9,442 and $11,576, respectively, for the combined leases.

Income Taxes

Income Taxes	12 Months Ended
	Feb. 29, 2020
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes The following table reconciles the U.S. federal statutory income tax rate in effect for the years ended February 29, 2020 and February 28, 2019, and the Company’s effective tax rate: Year Ended February 29, 2020 Year Ended February 28, 2019 U.S. federal statutory income tax $ (1,184,603 ) $ (745,430 ) Meals & Entertainment 8,190 18,958 True-up of Prior Year Permanent Items - 7,140 Change in Valuation Allowance 1,176,413 719,332 Effective income tax rate $ - $ - The significant components of deferred income tax assets and (liabilities ) February 29, 2020 February 28, 2019 Capitalized Geological/Geophysical & Other Intangibles $ 20,402 $ 56,956 Debt Discount & Related Amortization 16,562 (454,481 ) Federal Net Operating Loss 1,916,654 1,174,730 Less: Valuation Allowance (1,953,618 ) (777,205 ) Net Deferred Tax Asset $ - $ - The amount taken into income as deferred income tax assets must reflect that portion that is more likely-than-not to be realized from future operations. The Company has chosen to provide a full valuation allowance against net deferred tax assets. The Company has recognized a valuation allowance for the net Management has considered the likelihood and significance of possible penalties associated with its current and intended filing positions and has determined, based on their assessment, that such penalties, if any, would not be expected to be material. No provision for income taxes has been provided in these financial statements due to the net loss for the years ended February 29, 2020 and February 28, 2019. An NOL carryforward of $9,126,922 has accumulated as of February 29, 2020 with portions beginning to expire in 2032. NOLs may be limited for future use to the extent there has been a Section 382 limitation resulting from a certain percentage ownership change in a year or years. At this time, Management has not determined whether the threshold ownership change has occurred for any year, nor whether a Section 382 limitation applies.

Shareholders' Deficit

Shareholders' Deficit	12 Months Ended
	Feb. 29, 2020
Equity [Abstract]
Shareholders' Deficit	10. Shareholders’ Deficit On April 15, 2019 and July 26, 2019, the Company issued 3,700,000 and 250,000 shares of its common stock, respectively, for services at a fair value of $0.20 and $0.25 per share, respectively, to certain officers, board members, employees and professional service providers, based on the stock price on the date of grant with a total grant date fair value of $802,500 (of which 2,500,000 shares were issued to the certain related parties as discussed in Note 5). The Company received gross proceeds of $356,250 from the private placement of 1,425,000 shares of common stock during the year ended February 29, 2020 at a price of $0.25 per common share. 25,000 of these shares have not been issued as of the filing date of these financial statements, but the total purchase price of $6,250 was received as of February 29, 2020. Additionally, the Company received gross proceeds of $50,000 from the private placement of 250,000 shares of common stock during the year ended February 29, 2020 at a price of $0.20 per common share. Warrants Pursuant to debenture agreements dated May 27, 2016 and August 16, 2016, warrants to purchase 13,875,000 shares of the Company’s common stock had an original expiration date of May 27, 2019. On May 27, 2019, the Company entered into agreements to extend the related expiration dates to July 27, 2019. As a result of the modification, the Company recorded additional expense of approximately $365,000 for the incremental fair value of the warrants, calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) risk free interest rate of 2.35%, (2) expected life of 2 months, (3) expected volatility of 80%, and (4) zero expected dividends. On July 27, 2019, the Company entered into agreements to further extend the related expiration dates to December 31, 2019. As a result of the modification, the Company recorded additional expense of approximately $371,000 for the incremental fair value of the warrants, calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) risk free interest rate of 2.1%, (2) expected life of 5 months, (3) expected volatility of 80%, and (4) zero expected dividends. On December 31, 2019, the Company entered into agreements to further extend the related expiration dates to February 29, 2020. As a result of the modification, the Company recorded additional expense of approximately $26,000 for the incremental fair value of the warrants, calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) risk free interest rate of 1.48%, (2) expected life of 2 months, (3) expected volatility of 80%, and (4) zero expected dividends. On February 29, 2020, the Company entered into agreements to further extend the related expiration dates to August 31, 2020. As a result of the modification, the Company recorded additional expense of approximately $340,000 for the incremental fair value of the warrants, calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) risk free interest rate of 1.11%, (2) expected life of 6 months, (3) expected volatility of 100%, and (4) zero expected dividends. The expense related to these modifications was included in general and administrative expense on the statement of operations. Pursuant to debenture agreements dated February 15, 2017, warrants to purchase 3,750,000 shares of the Company’s common stock had an original expiration date of February 15, 2020. On February 15, 2020, the Company entered into agreements to extend the related expiration dates to August 31, 2020. As a result of the modification, the Company recorded additional expense of approximately $82,000 for the incremental fair value of the warrants, calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) risk free interest rate of 1.55%, (2) expected life of 6.5 months, (3) expected volatility of 101%, and (4) zero expected dividends. The expense related to these modifications was included in general and administrative expense on the statement of operations. No expense was recorded by the Company for the incremental fair value of the warrants due to the early adoption of ASU 2017-11 as noted in Footnote 2. Warrant activity during the year ended February 29, 2020 and February 28, 2019 is as follows: Weighted Average Weighted Remaining Number of Average Term Warrants Exercise Price (Years) Outstanding at February 28, 2018 19,125,000 $ 0.20 1.49 Issued - Outstanding at February 28, 2019 19,125,000 $ 0.20 0.49 Expired/Cancelled - Outstanding and exercisable as of February 29, 2020 19,125,000 $ 0.20 0.51 The intrinsic value of warrants outstanding at February 29, 2020 and February 28, 2019 was $2,639,250 and $-0-, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Feb. 29, 2020
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent Events On March 18, 2020, the Company received gross proceeds of $50,000 from the private placement of 250,000 shares of common stock at a price of $0.20 per common share. On April 27, 2020, the Company received loan proceeds of $118,750 pursuant to the U.S. Small Business Administration under sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act and specifically Section 1102 of the Act titled the “Paycheck Protection Program”. On July 15, 2020, the Company sold 250,000 shares of common stock, at a price of $0.20 per common share, to a private investor in exchange for gross proceeds of $50,000 pursuant to private placements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Feb. 29, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules of the U.S. Securities and Exchange Commission (“SEC”).
Principles of Consolidation	Principles of Consolidation These consolidated financial statements include the accounts of the Company and the Subsidiary. Inter-company transactions and balances have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of these financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of acquisition to be cash equivalents. The Company maintains its cash in bank accounts which, at times, may exceed federally insured limits as guaranteed by the Federal Deposit Insurance Corporation. As of February 29, 2020, approximately $2,500 of the Company’s cash balances were uninsured. The Company has not experienced any losses on such accounts.
Oil and Gas Property and Exploration Costs	Oil and Gas Property and Exploration Costs The Company is in the exploration stage of evaluating the Prospect and has not yet realized any revenues from its operations. It applies the successful efforts method of accounting for crude oil and natural gas properties. Under this method, exploration costs such as exploratory geological and geophysical costs, delay rentals and exploratory overhead are expensed as incurred. Costs to acquire mineral interests in crude oil and/or natural gas properties, drill and equip exploratory wells that find proved reserves and drill and equip development wells are capitalized. Acquisition costs of unproved leaseholds are assessed for impairment during the holding period and transferred to proven crude oil and/or natural gas properties to the extent associated with successful exploration activities. Significant undeveloped leases are assessed individually for impairment, based on the Company’s current exploration plans, and a valuation allowance is provided if impairment is indicated. Capitalized costs from successful exploration and development activities associated with producing crude oil and/or natural gas leases, along with capitalized costs for support equipment and facilities, are amortized to expense using the unit-of-production method based on proved crude oil and/or natural gas reserves on a field-by-field basis, as estimated by qualified petroleum engineers.
Long-Lived Assets	Long-lived Assets The carrying values of long-lived assets are reviewed on a regular basis for the existence of facts or circumstances that may suggest impairment. The Company recognizes impairment when the sum of the expected undiscounted future cash flows is less than the carrying amount of the asset. Impairment losses, if any, are measured as the excess of the carrying amount of the asset over its estimated fair value.
Fair Value of Financial Instruments and Derivative Financial Instruments	Fair Value of Financial Instruments and Derivative Financial Instruments The carrying amounts of cash, receivables, accounts payable, accrued liabilities and shareholder loans approximate their fair values due to the short maturity of these items. Certain fair value estimates may be subject to and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates. The Company does not hold or issue financial instruments for trading purposes, nor does it utilize derivative instruments in the management of its foreign exchange, commodity price, and/or interest rate market risks.
Income Taxes	Income Taxes Deferred income taxes are reported for timing differences between items of income or expense reported in these financial statements and those reported for income tax purposes. The Company uses the asset/liability method of accounting for income taxes. Deferred income taxes and tax benefits are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases, and for tax loss and credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company provides a valuation allowance for deferred taxes for the estimated future tax effects attributable to temporary differences and carry-forwards when realization is not more likely than not. The Tax Cuts and Jobs Act of 2017 was signed into law on December 22, 2017. The law includes significant changes to the U.S. corporate income tax system, including a federal corporate rate reduction from 34% to 21%. In accordance with ASC 740, the impact of a change in the tax law is recorded in the period of enactment. The Company accounts for uncertain income tax positions by recognizing in the financial statements, the impact of a tax position, if that position is more likely than not of being sustained on examination by taxation authorities, based on the technical merits of the position.
Foreign Currency Translation	Foreign Currency Translation The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated using exchange rates prevailing at the balance sheet date. Non-monetary assets are translated at historical exchange rates, and revenue and expense items at average rates of exchange prevailing during the period. Differences resulting from translation are presented in equity as accumulated other comprehensive income (loss). Gains and losses arising on settlement of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency transactions are primarily undertaken in Canadian and Australian dollars. The Company has not, to the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.
Fair Value Considerations	Fair Value Considerations Historically, the Company followed Accounting Standards Codification (“ASC”) 820, “ Fair Value Measurements and Disclosures There are three levels of inputs to fair value measurements - Level 1, meaning the use of quoted prices for identical instruments in active markets; Level 2, meaning the use of quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or are directly or indirectly observable; and Level 3, meaning the use of unobservable inputs. The Company uses Level 1 inputs for its fair value measurements whenever there is an active market, with actual quotes, market prices, and observable inputs on the measurement date. The Company uses Level 2 inputs for fair value measurements whenever there are quoted prices for similar securities in an active market or quoted prices for identical securities in an inactive market. The Company uses observable market data whenever available. In accordance with ASC 815-40-25 and ASC 815-10-15 “Derivatives and Hedging” Liabilities-Distinguishing Liabilities from Equity” In July 2017, the FASB issued Accounting Standards Update (“ASU”) 2017-11, Earnings Per Share Distinguishing Liabilities from Equity Derivatives and Hedging Accounting for Certain Financial Instruments with Down Round Features
Loss Per Share	Loss Per Share Basic Earnings Per Share (“EPS”) is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used to determine the number of shares assumed to be purchased from the exercise of stock options and/or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. For the year ended February 29, 2020 and February 28, 2019, the following share equivalents related to convertible debt and warrants to purchase shares of common stock were excluded from the computation of diluted net loss per share, as the inclusion of such shares would be anti-dilutive. Year Ended Year Ended Common Shares Issuable for: February 29, 2020 February 28, 2019 Convertible debt 54,183,862 50,042,556 Stock warrants 19,125,000 19,125,000 73,308,862 69,167,556
Comprehensive Income (Loss)	Comprehensive Income (Loss) The Company recognizes currency translation adjustments as a component of comprehensive income (loss).
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows Classification of Certain Cash Receipts and Cash Payments In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” “Leases (Topic 842): Targeted Improvements” On March 1, 2019, the Company adopted Topic 842 and elected practical expedients provided by the new standard whereby, the Company has elected to not reassess its prior conclusions about lease identification, lease classification, and initial direct costs and to retain off-balance sheet treatment of short-term leases (i.e., 12 months or less and does not contain a purchase option that the Company is reasonably certain to exercise). As a result of the short-term expedient election, the Company has no leases that require the recording of a net lease asset and lease liability on the Company’s consolidated balance sheet or have a material impact on consolidated earnings or cash flows as of March 1, 2019 or February 29, 2020. Moving forward, the Company will evaluate any new lease commitments for application of Topic 842. In July 2017, the FASB issued ASU 2017-11, Earnings Per Share Distinguishing Liabilities from Equity Derivatives and Hedging Accounting for Certain Financial Instruments with Down Round Features The Company does not anticipate that the adoption of other recently issued accounting pronouncements will have a significant impact on its financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Feb. 29, 2020
Accounting Policies [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	For the year ended February 29, 2020 and February 28, 2019, the following share equivalents related to convertible debt and warrants to purchase shares of common stock were excluded from the computation of diluted net loss per share, as the inclusion of such shares would be anti-dilutive. Year Ended Year Ended Common Shares Issuable for: February 29, 2020 February 28, 2019 Convertible debt 54,183,862 50,042,556 Stock warrants 19,125,000 19,125,000 73,308,862 69,167,556

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Feb. 29, 2020
Related Party Transactions [Abstract]
Schedule of Bonuses Paid to Related Parties	On January 8, 2019, the Company paid bonuses to the Chairman of the Board and the officers as follows: Keith Spickelmier, Chairman of the Board $ 30,000 Keith McKenzie, Chief Executive Officer $ 5,000 William Begley, President, Chief Operating Officer and Chief Financial Officer $ 15,000 Sean Austin, Treasurer and Secretary $ 5,000
Schedule of Number of Shares Awarded	The following table provides information about the officers receiving an award and the number of shares awarded: Name of Officer Offices Held Number of Award Shares Keith D. Spickelmier Chairman of the Board 1,250,000 Keith J. McKenzie Chief Executive Officer 500,000 William E. Begley President, Chief Financial Officer and Chief Operating Officer 750,000

Convertible Debentures Payable

Convertible Debentures Payable (Tables)	12 Months Ended
	Feb. 29, 2020
Debt Disclosure [Abstract]
Schedule of Convertible Debentures Payable	The table below provides a summary of the senior secured convertible debentures issued through February 29, 2020 and related debt discount and amortization details. Round Issue Maturity Interest Conversion Principal Debt Debentures, Outstanding as of February 28, 2019: I May 27, 2016 May 27, 2021 8 % $ 0.16 $ 3,500,000 $ 3,500,000 II Aug 16, 2016 May 27, 2021 8 % $ 0.16 200,000 199,999 Aug 16, 2016 May 27, 2021 8 % $ 0.16 250,000 250,000 III Dec 30, 2016 May 27, 2021 8 % $ 0.16 287,500 237,587 IV Feb 15, 2017 May 27, 2021 8 % $ 0.16 1,000,000 1,000,000 V Mar 31,2017 May 27, 2021 8 % $ 0.20 200,000 200,000 VI Jul 5, 2017 May 27, 2021 8 % $ 0.20 137,500 137,500 Jul 5, 2017 May 27, 2021 8 % $ 0.16 150,000 150,000 VII Sept 19, 2017 May 27, 2021 8 % $ 0.16 400,000 400,000 Sept 19, 2017 May 27, 2021 8 % $ 0.16 100,000 82,125 VIII Oct 10, 2017 May 27, 2021 8 % $ 0.20 137,500 72,806 IX Jan 3, 2018 May 27, 2021 8 % $ 0.20 137,500 137,500 X April 2, 2018 May 27, 2021 8 % $ 0.20 137,500 137,500 XI May 16, 2018 May 27, 2021 8 % $ 0.20 212,500 212,500 Amortized discount as of February 28, 2019 (3,049,544 ) Balance as of February 28, 2019 6,850,000 3,667,973 $ 3,182,027 Activity for the year ended February 29, 2020: Amortization of discount for the year ended February 29, 2020 (1,562,777 ) Balance as of February 29, 2020 $ 6,850,000 $ 2,105,196 $ 4,744,804

Derivative Liabilities (Tables)

Derivative Liabilities (Tables)	12 Months Ended
	Feb. 29, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Impact of Early Adoption of Accounting Standard	The impact of the adoption was as follows: Derivative liabilities $ (16,172,119 ) Additional paid-in capital $ 12,544,607 Accumulated deficit 3,627,512 Total stockholders’ deficit $ 16,172,119

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Feb. 29, 2020
Income Tax Disclosure [Abstract]
Schedule of Reconciliation of Effective Income Tax Rate	The following table reconciles the U.S. federal statutory income tax rate in effect for the years ended February 29, 2020 and February 28, 2019, and the Company’s effective tax rate: Year Ended February 29, 2020 Year Ended February 28, 2019 U.S. federal statutory income tax $ (1,184,603 ) $ (745,430 ) Meals & Entertainment 8,190 18,958 True-up of Prior Year Permanent Items - 7,140 Change in Valuation Allowance 1,176,413 719,332 Effective income tax rate $ - $ -
Schedule of Components of Deferred Income Tax Assets	The significant components of deferred income tax assets and (liabilities ) February 29, 2020 February 28, 2019 Capitalized Geological/Geophysical & Other Intangibles $ 20,402 $ 56,956 Debt Discount & Related Amortization 16,562 (454,481 ) Federal Net Operating Loss 1,916,654 1,174,730 Less: Valuation Allowance (1,953,618 ) (777,205 ) Net Deferred Tax Asset $ - $ -

Shareholders' Deficit (Tables)

Shareholders' Deficit (Tables)	12 Months Ended
	Feb. 29, 2020
Equity [Abstract]
Summary of Warrant Activity	Warrant activity during the year ended February 29, 2020 and February 28, 2019 is as follows: Weighted Average Weighted Remaining Number of Average Term Warrants Exercise Price (Years) Outstanding at February 28, 2018 19,125,000 $ 0.20 1.49 Issued - Outstanding at February 28, 2019 19,125,000 $ 0.20 0.49 Expired/Cancelled - Outstanding and exercisable as of February 29, 2020 19,125,000 $ 0.20 0.51

Nature of Operations (Details N

Nature of Operations (Details Narrative)	12 Months Ended
	Feb. 29, 2020ami²	May 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Proposed area for exploration and development | a	584,651
Proposed area for exploration and development, in miles | mi²	914
Working interest owned by company, percentage	100.00%	100.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative)	12 Months Ended
	Feb. 29, 2020USD ($)
Accounting Policies [Abstract]
Uninsured cash balance	$ 2,500
Income tax, description	The law includes significant changes to the U.S. corporate income tax system, including a federal corporate rate reduction from 34% to 21%. In accordance with ASC 740, the impact of a change in the tax law is recorded in the period of enactment.
Income tax, federal corporate rate	21.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Common shares excluded from computation of diluted net loss per share	73,308,862	69,167,556
Convertible Debt [Member]
Common shares excluded from computation of diluted net loss per share	54,183,862	50,042,556
Stock Warrants [Member]
Common shares excluded from computation of diluted net loss per share	19,125,000	19,125,000

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	Feb. 29, 2020	Feb. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated loss	$ (25,578,025)	$ (19,674,892)
Cash balance	$ 8,115	$ 405,908

Oil and Gas Properties (Details

Oil and Gas Properties (Details Narrative)	Jun. 22, 2016km²mi²	May 19, 2014km²mi²Integer	May 18, 2014km²mi²	Oct. 26, 2012	Jul. 31, 2017	Feb. 29, 2020ami²	May 31, 2012
Oil and Gas, Delivery Commitment [Line Items]
Principal business, proposed exploration and development area | a						584,651
Principal business, proposed exploration and development area, miles						914
Percent working interest owned by company						100.00%	100.00%
License interest, percentage				100.00%
Wells in process of drilling description						The Company is required to drill 7 exploratory wells rather than 12, as originally required. The 7 required wells must be drilled in years 3, 4, and 5 (2, 2, and 3 wells, respectively). The amount of required 2D seismic was also reduced to 62 miles (100 km.) in year 3 from 155 miles (250 km.) in year 2 but the total 3D seismic work guarantee increased to 193 sq. miles (500 sq. km.) from 154 sq. miles (400 sq. km.). However, the 3D seismic survey requirement is spread over three years with 39 sq. miles (100 sq. km.) in year 2, 77 sq. miles (200 sq. km.) in year 3 and 77 sq. miles (200 sq. km.) in year 4.
Period of suspension of license		6 months				2 years
Number of exploratory wells required to be drilled under license | Integer		7
3D seismic survey work required to be completed (Sq.miles)		193	154
3D seismic survey work required to be completed (Sq.km) | km²		500	400
Area in terminated license suspension description	The Company terminated the February 2016 License suspension in preparation for a 3D seismic survey (the "Nike Survey") that was comprised of approximately 69 sq. miles (179 sq. km.) on the southwest portion of the Prospect.
Area in terminated license suspension (Sq.miles)	69
Area in terminated license suspension | km²	179
Expiration date for license					Aug. 29, 2022
Liberty Petroleum Corp [Member]
Oil and Gas, Delivery Commitment [Line Items]
Original owner's percentage of overriding royalty interest in acquisition						7.00%
Original owner's remaining percentage of overriding royalty interest in acquisition						2.00%
Royalty Deed Agreement [Member] | Liberty Petroleum Corp [Member]
Oil and Gas, Delivery Commitment [Line Items]
Total acquired percentage of overriding royalty interest in acquisition						5.00%
License Amendment [Member]
Oil and Gas, Delivery Commitment [Line Items]
Suspension of license description						The Company requested and received five additional six-month suspensions, one in each of July 2017, June 2018, February 2019, July 2019, and January 2020 resulting in a new expiration date of October 29, 2022.
In Three Year [Member]
Oil and Gas, Delivery Commitment [Line Items]
3D seismic survey work required to be completed (Sq.miles)		39
3D seismic survey work required to be completed (Sq.km) | km²		100
In Year [Member]
Oil and Gas, Delivery Commitment [Line Items]
3D seismic survey work required to be completed (Sq.miles)		77
3D seismic survey work required to be completed (Sq.km) | km²		200
October 28, 2018 [Member]
Oil and Gas, Delivery Commitment [Line Items]
2D seismic survey work required to be completed (Sq.miles)		155
2D seismic survey work required to be completed (Sq.km) | km²		250
October 28, 2018 [Member] | In Three Year [Member]
Oil and Gas, Delivery Commitment [Line Items]
2D seismic survey work required to be completed (Sq.miles)		62
2D seismic survey work required to be completed (Sq.km) | km²		100
October 28, 2020 [Member]
Oil and Gas, Delivery Commitment [Line Items]
Number of exploratory wells required to be drilled under license | Integer		2
2D seismic survey work required to be completed (Sq.miles)		62
2D seismic survey work required to be completed (Sq.km) | km²		100
3D seismic survey work required to be completed (Sq.miles)		77
3D seismic survey work required to be completed (Sq.km) | km²		200
October 29, 2021 [Member]
Oil and Gas, Delivery Commitment [Line Items]
Number of exploratory wells required to be drilled under license | Integer		2
3D seismic survey work required to be completed (Sq.miles)		77
3D seismic survey work required to be completed (Sq.km) | km²		200
October 29, 2022 [Member]
Oil and Gas, Delivery Commitment [Line Items]
Number of exploratory wells required to be drilled under license | Integer		3

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Apr. 15, 2019	Feb. 29, 2020	Feb. 28, 2019
Related Party Transaction [Line Items]
Accounts payable - related parties, net		$ 814,399	$ 149,190
Fair value of the shares awarded during period	$ 500,000
Market price of shares on grant	$ 0.20
Consulting Agreement [Member] | Keith D. Spickelmier [Member]
Related Party Transaction [Line Items]
Consulting fees		52,000
Verbal Consulting Agreement [Member] | Keith McKenzie [Member]
Related Party Transaction [Line Items]
Consulting fees		$ 55,000

Related Party Transactions - Sc

Related Party Transactions - Schedule of Bonuses Paid to Related Parties (Details)	12 Months Ended
	Feb. 29, 2020USD ($)
Keith Spickelmier [Member] | Chairman of The Board [Member]
Related Party Transaction [Line Items]
Bonus paid	$ 30,000
Keith McKenzie [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Bonus paid	5,000
William Begley [Member] | President, Chief Operating Officer and Chief Financial Officer [Member]
Related Party Transaction [Line Items]
Bonus paid	15,000
Sean Austin [Member] | Treasurer and Secretary [Member]
Related Party Transaction [Line Items]
Bonus paid	$ 5,000

Related Party Transactions - _2

Related Party Transactions - Schedule of Number of Shares Awarded (Details)	Apr. 15, 2019shares
Keith D. Spickelmier [Member]
Title of position	Chairman of the Board
Number of Award Shares	1,250,000
Keith J. McKenzie [Member]
Title of position	Chief Executive Officer
Number of Award Shares	500,000
William E. Begley [Member]
Title of position	President, Chief Financial Officer and Chief Operating Officer
Number of Award Shares	750,000

Convertible Debentures Payabl_2

Convertible Debentures Payable (Details Narrative) - USD ($)	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Debt Disclosure [Abstract]
Amortization of debt discount	$ 1,562,777	$ 1,427,722
Interst expense related to convertible debentures	$ 680,284	$ 620,622
Interest rate, compounded quarterly	8.00%

Convertible Debentures Payabl_3

Convertible Debentures Payable - Schedule of Convertible Debentures Payable (Details) - USD ($)	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Principal Amount	$ 6,850,000	$ 6,850,000
Debt Discount	2,105,196	3,667,973
Amortized discount	(1,562,777)	(1,427,722)
Debentures, net of Debt Discount	$ 4,744,804	$ 3,182,027
Senior Secured Convertible Debenture [Member] | Round I [Member]
Issue Date		May 27, 2016
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.16
Principal Amount		$ 3,500,000
Debt Discount		$ 3,500,000
Senior Secured Convertible Debenture [Member] | Round II [Member]
Issue Date		Aug. 16, 2016
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.16
Principal Amount		$ 200,000
Debt Discount		$ 199,999
Senior Secured Convertible Debenture [Member] | Round II [Member]
Issue Date		Aug. 16, 2016
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.16
Principal Amount		$ 250,000
Debt Discount		$ 250,000
Senior Secured Convertible Debenture [Member] | Round III [Member]
Issue Date		Dec. 30, 2016
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.16
Principal Amount		$ 287,500
Debt Discount		$ 237,587
Senior Secured Convertible Debenture [Member] | Round IV [Member]
Issue Date		Feb. 15, 2017
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.16
Principal Amount		$ 1,000,000
Debt Discount		$ 1,000,000
Senior Secured Convertible Debenture [Member] | Round V [Member]
Issue Date		Mar. 31, 2017
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.20
Principal Amount		$ 200,000
Debt Discount		$ 200,000
Senior Secured Convertible Debenture [Member] | Round VI [Member]
Issue Date		Jul. 5, 2017
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.20
Principal Amount		$ 137,500
Debt Discount		$ 137,500
Senior Secured Convertible Debenture [Member] | Round VI [Member]
Issue Date		Jul. 5, 2017
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.16
Principal Amount		$ 150,000
Debt Discount		$ 150,000
Senior Secured Convertible Debenture [Member] | Round VII [Member]
Issue Date		Sep. 19, 2017
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.16
Principal Amount		$ 400,000
Debt Discount		$ 400,000
Senior Secured Convertible Debenture [Member] | Round VII [Member]
Issue Date		Sep. 19, 2017
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.16
Principal Amount		$ 100,000
Debt Discount		$ 82,125
Senior Secured Convertible Debenture [Member] | Round VIII [Member]
Issue Date		Oct. 10, 2017
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.20
Principal Amount		$ 137,500
Debt Discount		$ 72,806
Senior Secured Convertible Debenture [Member] | Round IX [Member]
Issue Date		Jan. 3, 2018
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.20
Principal Amount		$ 137,500
Debt Discount		$ 137,500
Senior Secured Convertible Debenture [Member] | Round X [Member]
Issue Date		Apr. 2, 2018
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.20
Principal Amount		$ 137,500
Debt Discount		$ 137,500
Senior Secured Convertible Debenture [Member] | Round XI [Member]
Issue Date		May 16, 2018
Maturity Date		May 27, 2021
Interest Rate		8.00%
Conversion Price		$ 0.20
Principal Amount		$ 212,500
Debt Discount		$ 212,500

Derivative Liabilities - Schedu

Derivative Liabilities - Schedule of Impact of Early Adoption of Accounting Standard (Details) - USD ($)	Feb. 29, 2020	Feb. 28, 2019	Mar. 02, 2018
Additional paid-in capital	$ 20,447,198	$ 18,059,682
Accumulated deficit	$ (25,578,025)	$ (19,674,892)
New Accounting Pronouncement, Early Adoption, Effect [Member]
Derivative liabilities			$ (16,172,119)
Additional paid-in capital			12,544,607
Accumulated deficit			3,627,512
Total stockholders' deficit			$ 16,172,119

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative)	12 Months Ended
	Feb. 29, 2020USD ($)	Feb. 29, 2020AUD ($)	Feb. 29, 2020CAD ($)	Feb. 28, 2019USD ($)
Operating lease expense	$ 9,442			$ 11,576
CAD [Member] | Keith J. McKenzie [Member]
Operating subsidiary lease expense			$ 500
March 31, 2020 [Member]
Operating lease term of contract	4 months
Operating lease expense	$ 193
Remaining obligation	$ 193
March 31, 2020 [Member] | AUD [Member]
Operating subsidiary lease expense		$ 175

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Income Tax Disclosure [Abstract]
Provision for income taxes
Net operating loss carryforward	$ 9,126,922
Operating loss carryforward, expiration year	2032

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Effective Income Tax Rate (Details) - USD ($)	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax	$ (1,184,603)	$ (745,430)
Meals & Entertainment	8,190	18,958
True-up of Prior Year Permanent Items		7,140
Change in Valuation Allowance	1,176,413	719,332
Effective income tax rate

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Deferred Income Tax Assets (Details) - USD ($)	Feb. 29, 2020	Feb. 28, 2019
Income Tax Disclosure [Abstract]
Capitalized Geological/Geophysical & Other Intangibles	$ 20,402	$ 56,956
Debt Discount & Related Amortization	16,562	(454,481)
Federal Net Operating Loss	1,916,654	1,174,730
Less: Valuation Allowance	(1,953,618)	(777,205)
Net Deferred Tax Asset

Shareholders' Deficit (Details

Shareholders' Deficit (Details Narrative)	Feb. 29, 2020USD ($)Integer$ / sharesshares	Feb. 15, 2020USD ($)Integer	Dec. 31, 2019USD ($)Integer	Jul. 27, 2019USD ($)Integer	Jul. 26, 2019$ / sharesshares	May 27, 2019USD ($)Integer	Apr. 15, 2019$ / sharesshares	Feb. 29, 2020USD ($)Integer$ / sharesshares	Feb. 28, 2019USD ($)
Fair value of shares issued price per share | $ / shares	$ 0.25							$ 0.25
Grant date fair value | $								$ 802,500
Gross proceeds received from private placement | $								$ 356,250
Number of common stock issued through private placement								1,425,000
Number of common stock shares subsidiary, unissued	25,000							25,000
Number of common stock shares subsidiary unissued, value | $	$ 6,250							$ 6,250
Intrinsic value of outstanding warrants | $	$ 2,639,250							$ 2,639,250	$ 0
Stock Warrants [Member]
Warrants to purchase common stock	13,875,000							13,875,000
Warrants, expiration date	May 27, 2019							May 27, 2019
Warrants, extended expiration date	Aug. 31, 2020	Aug. 31, 2020	Feb. 29, 2020	Dec. 31, 2019		Jul. 27, 2019
Additional expense for incremental fair value of the warrants | $	$ 340,000	$ 82,000	$ 26,000	$ 371,000		$ 365,000
Stock Warrants [Member] | Risk Free Interest Rate [Member]
Warrants and rights outstanding, measurement input | Integer	1.11	1.55	1.48	2.1		2.35		1.11
Stock Warrants [Member] | Debenture/Warrant Lives In Years [Member]
Warrants and rights outstanding, term	6 months	6 months 14 days	2 months	5 months		2 months		6 months
Stock Warrants [Member] | Expected Volatility [Member]
Warrants and rights outstanding, measurement input | Integer	100	101	80	80		80		100
Stock Warrants [Member] | Expected Dividend [Member]
Warrants and rights outstanding, measurement input | Integer	0	0	0	0		0		0
Private Placement [Member]
Proceeds from issuance of private placement | $								$ 50,000
Sale of stock, number of shares issued								250,000
Sale of stock, price per share | $ / shares	$ 0.20							$ 0.20
Related Parties [Member]
Number of shares authorized for issuance under share-based arrangement	2,500,000							2,500,000
Officers, Board Members, Employees, Professional Service Providers [Member]
Shares issued during period for services							3,700,000
Fair value of shares issued price per share | $ / shares							$ 0.20
Officers, Board Members, Employees, Professional Service Providers One [Member]
Shares issued during period for services					250,000
Fair value of shares issued price per share | $ / shares					$ 0.25

Shareholders' Deficit - Summary

Shareholders' Deficit - Summary of Warrant Activity (Details) - $ / shares	12 Months Ended
	Feb. 29, 2020	Feb. 28, 2019
Equity [Abstract]
Number of Warrants, Outstanding, beginning	19,125,000	19,125,000
Number of Warrants, Issued
Number of Warrants, Expired/Cancelled
Number of Warrants, Outstanding and exercisable, ending	19,125,000	19,125,000
Weighted Average Exercise Price, Outstanding, beginning	$ 0.20	$ 0.20
Weighted Average Exercise Price, Expired/Cancelled
Weighted Average Exercise Price, Outstanding and exercisable, ending	$ 0.20	$ 0.20
Weighted Average Remaining Term (Years), Outstanding, Beginning	5 months 27 days	1 year 5 months 27 days
Weighted Average Remaining Term (Years), Outstanding and exercisable, ending	6 months 3 days	5 months 27 days

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Jul. 15, 2020	Apr. 27, 2020	Mar. 18, 2020	Feb. 29, 2020
Private Placement [Member]
Proceeds from issuance of private placement				$ 50,000
Sale of stock, number of shares issued				250,000
Sale of stock, price per share				$ 0.20
Subsequent Event [Member] | Private Investor [Member]
Proceeds from issuance of private placement	$ 50,000
Sale of stock, number of shares issued	250,000
Sale of stock, price per share	$ 0.20
Subsequent Event [Member] | Paycheck Protection Program [Member]
Proceeds from loan		$ 118,750
Subsequent Event [Member] | Private Placement [Member]
Proceeds from issuance of private placement			$ 50,000
Sale of stock, number of shares issued			250,000
Sale of stock, price per share			$ 0.20