| SCHEDULE OF COMPANY’S CURRENT PROPERTIES |
The
Company’s current properties can be summarized as follows.
SCHEDULE
OF COMPANY’S CURRENT PROPERTIES
| 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 |
|
| Additions |
|
|
787,250 |
|
|
|
— |
|
|
|
787,250 |
|
| Foreign
currency translations |
|
|
186,467 |
|
|
|
— |
|
|
|
186,467 |
|
| As
of June 30, 2021 |
|
$ |
5,288,522 |
|
|
$ |
4,304,622 |
|
|
$ |
9,593,144 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 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 |
|
|
420,931 |
|
|
|
— |
|
|
|
420,931 |
|
| Foreign
currency translation |
|
|
103,548 |
|
|
|
— |
|
|
|
103,548 |
|
| As
of June 30, 2021 |
|
$ |
3,156,228 |
|
|
$ |
61,551 |
|
|
$ |
3,217,779 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net
book value as of December 31, 2020 |
|
$ |
1,683,056 |
|
|
$ |
4,243,071 |
|
|
$ |
5,926,127 |
|
| Net
book value as of June 30, 2021 |
|
$ |
2,132,294 |
|
|
$ |
4,234,071 |
|
|
$ |
6,375,365 |
|
|