Quarterly report pursuant to Section 13 or 15(d)

Evaluated Properties (Tables)

v3.19.1
Evaluated Properties (Tables)
9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
Schedule of Acquired and Current Properties

The acquired properties and current properties can be summarized as follows.

 

Cost   Canadian properties     US properties     Askari     Total  
As at January 1, 2018   $     $ 14,199,049     $ 113,531     $ 14,312,580  
Additions     1,246,216                   1,246,216  
Asset retirement cost additions     1,313,982                   1,313,982  
Foreign currency translation     15,238                   15,238  
As at September 30, 2018     2,575,436       14,199,049       113,531       16,888,016  
                                 
Accumulated depletion                                
As at January 1, 2018           1,068,795       24,000       1,092,795  
Impairment of oil and gas properties           2,322,255             2,322,255  
Depletion     37,404       11,280             48,684  
Depreciation                 12,000       12,000  
Foreign currency translation     357                   357  
As at September 30, 2018   $ 37,761       3,402,330       36,000       3,476,091  
                                 
Net book value as at September 30, 2018   $ 2,537,675     $ 10,796,719     $ 77,531     $ 13,411,925