SCHEDULE OF ACQUIRED AND CURRENT PROPERTIES |
The
acquired properties and current properties can be summarized as follows:
SCHEDULE
OF ACQUIRED AND CURRENT PROPERTIES
Cost |
|
Canadian properties |
|
|
US properties |
|
|
Total |
|
As of December 31, 2018 |
|
|
2,443,747 |
|
|
|
10,350,538 |
|
|
|
12,794,285 |
|
Additions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Dispositions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Asset retirement cost additions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Foreign currency translations |
|
|
119,687 |
|
|
|
— |
|
|
|
119,687 |
|
As of December 31, 2019 |
|
$ |
2,563,434 |
|
|
$ |
10,350,538 |
|
|
$ |
12,913,972 |
|
Additions |
|
|
678,765 |
|
|
|
— |
|
|
|
678,765 |
|
Dispositions |
|
|
— |
|
|
|
5,648,904 |
) |
|
|
(6,255,103 |
) |
Impairment of oil and gas properties |
|
|
|
|
|
|
(396,922 |
) |
|
|
(396,922 |
) |
Asset retirement cost additions |
|
|
906,146 |
|
|
|
— |
|
|
|
1,512,256 |
|
Foreign currency translation |
|
|
166,459 |
|
|
|
— |
|
|
|
166,459 |
|
As of December 31, 2020 |
|
|
4,314,804 |
|
|
|
4,304,622 |
|
|
|
8,619,427 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated depletion |
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2018 |
|
|
413,657 |
|
|
|
61,551 |
|
|
|
475,208 |
|
Dispositions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Impairment of oil and gas properties |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Depletion |
|
|
1,004,832 |
|
|
|
— |
|
|
|
1,004,832 |
|
Foreign currency translations |
|
|
40,487 |
|
|
|
— |
|
|
|
40,487 |
|
As of December 31, 2019 |
|
|
1,458,976 |
|
|
|
61,551 |
|
|
|
1,520,527 |
|
Dispositions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net book value as at December 31, 2020 |
|
$ |
1,683,055 |
|
|
$ |
4,243,071 |
|
|
$ |
5,926,126 |
|
Net book value as at December 31, 2019 |
|
$ |
1,104,458 |
|
|
$ |
10,288,987 |
|
|
$ |
11,393,445 |
|
|