| 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, 2019 |
|
$ |
2,443,747 |
|
|
$ |
10,350,538 |
|
|
$ |
12,794,285 |
|
| Foreign currency translation |
|
|
119,687 |
|
|
|
— |
|
|
|
119,687 |
|
| As at December 31, 2019 |
|
$ |
2,563,434 |
|
|
$ |
10,350,538 |
|
|
$ |
12,913,972 |
|
| Addition |
|
|
|
|
|
|
— |
|
|
|
— |
|
| Foreign currency translation |
|
|
(213,369 |
) |
|
|
— |
|
|
|
(213,369 |
) |
| As at March 31, 2020 |
|
$ |
2,350,065 |
|
|
$ |
10,350,538 |
|
|
$ |
12,700,603 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulated depletion |
|
|
|
|
|
|
|
|
|
|
|
|
| As at January 1, 2019 |
|
|
413,657 |
|
|
|
61,551 |
|
|
|
475,208 |
|
| Dispositions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Impairment of oil and gas properties |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Depletion |
|
|
1,004,832 |
|
|
|
— |
|
|
|
1,004,832 |
|
| Foreign currency translation |
|
|
40,487 |
|
|
|
— |
|
|
|
40,487 |
|
| As at December 31, 2019 |
|
$ |
1,458,976 |
|
|
$ |
61,551 |
|
|
$ |
1,520,527 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Depletion |
|
|
294,331 |
|
|
|
— |
|
|
|
294,331 |
|
| Foreign currency translation |
|
|
(137,019 |
) |
|
|
— |
|
|
|
(137,019 |
) |
| As at March 31, 2020 |
|
$ |
1,616,288 |
|
|
$ |
61,551 |
|
|
$ |
1,677,839 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net book value as at December 31, 2019 |
|
$ |
1,104,458 |
|
|
$ |
10,288,987 |
|
|
$ |
11,393,445 |
|
| Net book value as at March 31, 2020 |
|
$ |
733,777 |
|
|
$ |
10,288,987 |
|
|
$ |
11,022,764 |
|
|