Strata Power Corporation filed its annual report, highlighting a small exploration-stage oil and gas business focused on heavy oil and bitumen leases in Alberta’s Peace River region. For the year ended December 31, 2025, the company generated operating revenue of $76,283, all from royalty income, and recorded a net loss of $38,587.
Total assets were $162,139, including cash of just $1,464, against current liabilities of $57,256 and long-term liabilities of $371,157. Management estimates it needs about $225,000 to fund the next year’s operations, creating a working capital deficit and a reliance on new equity or shareholder loans.
The auditor’s opinion includes an explanatory paragraph about substantial doubt regarding Strata’s ability to continue as a going concern, citing an accumulated deficit of $23.27 million and ongoing operating losses. The company holds partial interests in 7 oil sands leases totaling 8,704 hectares, plus royalty interests in 10 leases and one non-producing well, but has no proved reserves and no production of its own.