| 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 |
|
|
255,879 |
|
|
|
19,632 |
|
|
|
275,511 |
|
| Foreign currency translation |
|
|
(6,420 |
) |
|
|
— |
|
|
|
(6,420 |
) |
| Asset retirement obligations, September 30, 2021 |
|
$ |
2,961,368 |
|
|
$ |
931,856 |
|
|
$ |
3,893,224 |
|
|