SEGMENT REPORTING |
12 Months Ended |
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Dec. 31, 2025 | |
| SEGMENT REPORTING | |
| SEGMENT REPORTING | 11. SEGMENT REPORTING
Operating segments are identified based on the internal reports that are regularly provided to, and reviewed by, the chief operating decision‑maker. The Company has determined that its Chief Operating Officer (“COO”) fulfils this role as the chief operating decision‑maker.
The Company’’s business activities are primarily focused on the development and commercialization of its hydro-conversion upgrader technology. As the Company remains in the exploration and evaluation stage, it has not generated any revenue from its principal activities during the periods presented.
For the years ended December 31, 2025 and 2024, the Board of Directors concluded that the Company has a single reportable segment, being oil and gas exploration and evaluation. The Company’’s other activities are individually, and in the aggregate, insignificant for segment reporting purposes. Accordingly, no additional segment information is presented. |
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- References No definition available.
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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