There is provided a flow control apparatus configured for optimizing use of available space within the wellbore for conducting of fluids between the surface and the subterranean formation. The flow control apparatus is useable for conducting all forms of fluid, such as, for example, liquids, gases, or mixtures of liquids and gases. As well, the flow control apparatus is useable for effecting injection of fluid (e.g. a fluid for stimulating hydrocarbon production via a drive process, such as, for example, waterflooding, or via a cyclic process, such as “huff and puff”) into the subterranean formation, and for receiving production of fluid (e.g. hydrocarbon material) from the subterranean formation (including production that is stimulated by gas lift).