Quarterly report pursuant to Section 13 or 15(d)

Evaluated Properties (Tables)

v3.21.1
Evaluated Properties (Tables)
6 Months Ended
Jun. 30, 2019
Business Combinations [Abstract]  
Schedule of Acquired and Current 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  
Additions           375,000       375,000  
Foreign currency translation     102,017             102,017  
As at June 30, 2019   $ 2,545,764     $ 10,725,538     $ 13,271,302  
                         
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     431,735             431,735  
Foreign currency translation     25,214             25,214  
As at June 30, 2019   $ 870,606     $ 61,551     $ 932,157  
                         
Net book value as at December 31, 2018   $ 2,030,090     $ 10,288,987     $ 12,339,145  
Net book value as at June 30, 2019   $ 1,675,158     $ 10,663,987     $ 12,339,145