SCHEDULE OF ASSET RETIREMENT OBLIGATIONS |
The
following table shows the change in the Company’s ARO liability:
SCHEDULE OF ASSET RETIREMENT OBLIGATIONS
|
|
Canadian
properties |
|
|
United
States properties |
|
|
Total |
|
Asset
retirement obligations, December 31, 2019 |
|
$ |
1,445,991 |
|
|
$ |
277,373 |
|
|
$ |
1,723,364 |
|
Acquisition
of Canadian property - Utikuma |
|
|
906,146 |
|
|
|
— |
|
|
|
906,146 |
|
Plugging
liability at Twin Lakes |
|
|
|
|
|
|
606,109 |
|
|
|
606,109 |
|
Accretion
expense |
|
|
259,016 |
|
|
|
28,742 |
|
|
|
287,758 |
|
Foreign
currency translations |
|
|
100,756 |
|
|
|
— |
|
|
|
100,756 |
|
Asset
retirement obligations, December 31, 2020 |
|
|
2,711,909 |
|
|
|
912,224 |
|
|
|
3,624,133 |
|
Accretion
expense |
|
|
81,823 |
|
|
|
6,383 |
|
|
|
88,206 |
|
Foreign
currency translation |
|
|
34,489 |
|
|
|
— |
|
|
|
34,489 |
|
Asset
retirement obligations, March 31, 2021 |
|
$ |
2,828,221 |
|
|
$ |
918,607 |
|
|
$ |
3,746,828 |
|
|