Quarterly report pursuant to Section 13 or 15(d)

EVALUATED PROPERTIES (Tables)

v3.22.1
EVALUATED PROPERTIES (Tables)
3 Months Ended
Mar. 31, 2021
Evaluated Properties  
SCHEDULE OF COMPANY’S CURRENT PROPERTIES

The Company’s current properties can be summarized as follows.

 

Cost   Canadian properties     United States properties     Total  
As of December 31, 2019   $ 2,563,434     $ 10,350,538     $ 12,913,972  
Additions     678,765             678,765  
Dispositions           (5,648,994 )     (5,648,994 )
Impairment of oil and gas properties           (396,922 )     (396,922 )
Asset retirement cost additions     906,146             906,146  
Foreign currency translation     166,460             166,460  
As of December 31, 2020   $ 4,314,805     $ 4,304,622     $ 8,619,427  
Foreign currency translations     53,996             53,996  
As of March 31, 2021   $ 4,368,801     $ 4,304,622     $ 8,673,423  
                         
Accumulated depletion                        
As of December 31, 2019     1,458,976       61,551       1,520,527  
Depletion     1,115,595             1,115,595  
Foreign currency translation     57,178             57,178  
As of December 31, 2020   $ 2,631,749     $ 61,551     $ 2,693,300  
Depletion     175,394             175,394  
Foreign currency translation     34,117             34,117  
As of March 31, 2021   $ 2,841,259     $ 61,551     $ 2,902,811  
                         
Net book value as of December 31, 2020   $ 1,683,056     $ 4,243,071     $ 5,926,127  
Net book value as of March 31, 2021   $ 1,527,542     $ 4,234,071     $ 5,770,612