Evaluated Properties |
4. EVALUATED PROPERTIES
The Company’s current properties can
be summarized as follows.
Cost |
|
Canadian properties |
|
|
United States properties |
|
Total |
|
As at January 1, 2018 |
|
$ |
— |
|
|
$ |
14,312,580 |
|
|
$ |
14,312,580 |
|
Additions |
|
|
1,246,216 |
|
|
|
— |
|
|
|
1,246,216 |
|
Dispositions |
|
|
— |
|
|
|
(3,962,042) |
|
|
|
(3,962,042) |
|
Asset retirement cost additions |
|
|
1,313,982 |
|
|
|
— |
|
|
|
1,313,982 |
|
Foreign currency translation |
|
|
(116,451) |
|
|
|
— |
|
|
|
(116,451) |
|
As at December 31, 2018 |
|
$ |
2,443,747 |
|
|
$ |
10,350,538 |
|
|
$ |
12,794,285 |
|
Foreign currency translation |
|
|
53,009 |
|
|
|
- |
|
|
|
53,009 |
|
As at March 31, 2019 |
|
$ |
2,496,756 |
|
|
$ |
10,350,538 |
|
|
$ |
12,847,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated depletion |
|
|
|
|
|
|
|
|
|
|
|
|
As at January 1, 2018 |
|
|
— |
|
|
|
1,068,795 |
|
|
|
1,068,795 |
|
Dispositions |
|
|
— |
|
|
|
(3,340,779) |
|
|
|
(3,340,779) |
|
Impairment of oil and gas properties |
|
|
— |
|
|
|
2,322,255 |
|
|
|
2,322,255 |
|
Depletion |
|
|
435,722 |
|
|
|
11,280 |
|
|
|
447,002 |
|
Foreign currency translation |
|
|
(22,065) |
|
|
|
— |
|
|
|
(22,065) |
|
As at December 31, 2018 |
|
$ |
413,657 |
|
|
$ |
61,551 |
|
|
$ |
475,208 |
|
Impairment of oil and gas properties |
|
|
|
|
|
|
|
|
|
|
|
|
Depletion |
|
|
197,168 |
|
|
|
— |
|
|
|
197,168 |
|
Foreign currency translation |
|
|
8,160 |
|
|
|
— |
|
|
|
8,160 |
|
As at March 31, 2019 |
|
$ |
618,985 |
|
|
$ |
61,551 |
|
|
$ |
680,536 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net book value as at December 31, 2018 |
|
$ |
2,030,090 |
|
|
$ |
10,288,987 |
|
|
$ |
12,319,077 |
|
Net book value as at March 31, 2019 |
|
$ |
1,877,771 |
|
|
$ |
10,288,987 |
|
|
$ |
12,166,758 |
|
|