| Schedule of oil and gas activities |
The
following table summarizes the Company’s oil and gas activities by classification and geographical cost center for the three
months ended March 31, 2018:
| |
|
December
31,
2017
|
|
|
Adjustments |
|
|
Impairments |
|
|
March31,
2018
|
|
| Proved
developed producing oil and gas properties |
|
|
|
|
|
|
|
|
|
|
|
|
| Canada
cost center |
|
$ |
23,279 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
23,279 |
|
| United
States cost center |
|
|
12,513,088 |
|
|
|
(899,083 |
) |
|
|
- |
|
|
|
11,614,005 |
|
| Accumulated
depreciation, depletion and amortization |
|
|
(235,226 |
) |
|
|
(136,587 |
) |
|
|
- |
|
|
|
(371,813 |
) |
| Proved
developed producing oil and gas properties, net |
|
$ |
12,301,141 |
|
|
$ |
(1,035,670 |
) |
|
$ |
- |
|
|
$ |
11,265,471 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Undeveloped
and non-producing oil and gas properties |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Canada
cost center |
|
$ |
382,935 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
382,935 |
|
| United
States cost center |
|
|
26,851,244 |
|
|
|
948,891 |
|
|
|
- |
|
|
|
27,800,135 |
|
| Accumulated
depreciation, depletion and amortization |
|
|
(374,545 |
) |
|
|
(339,057 |
) |
|
|
- |
|
|
|
(713,602 |
) |
| Undeveloped
and non-producing oil and gas properties, net |
|
$ |
26,859,634 |
|
|
$ |
609,834 |
|
|
$ |
- |
|
|
$ |
27,469,468 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Oil and Gas Properties, Net |
|
$ |
39,160,775 |
|
|
$ |
(425,836 |
) |
|
$ |
- |
|
|
$ |
38,734,939 |
|
The
following table summarizes the Company’s oil and gas activities by classification for the year ended December 31, 2017:
| |
|
December
31, |
|
|
|
|
|
|
|
|
December
31, |
|
| |
|
2016 |
|
|
Adjustments |
|
|
Impairments |
|
|
2017 |
|
| Proved
developed producing oil and gas properties |
|
|
|
|
|
|
|
|
|
|
|
|
| Canada
cost center |
|
$ |
34,733 |
|
|
$ |
(11,454 |
) |
|
$ |
- |
|
|
$ |
23,279 |
|
| United
States cost center |
|
|
1,787,840 |
|
|
|
10,725,248 |
|
|
|
- |
|
|
|
12,513,088 |
|
| Accumulated
depreciation, depletion and amortization |
|
|
(57,200 |
) |
|
|
(178,026 |
) |
|
|
- |
|
|
|
(235,226 |
) |
| Proved
developed producing oil and gas properties, net |
|
$ |
1,765,373 |
|
|
$ |
10,535,768 |
|
|
$ |
- |
|
|
$ |
12,301,141 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Undeveloped
and non-producing oil and gas properties |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Canada
cost center |
|
$ |
371,481 |
|
|
$ |
11,454 |
|
|
$ |
- |
|
|
$ |
382,935 |
|
| United
States cost center |
|
|
917,184 |
|
|
|
25,934,060 |
|
|
|
- |
|
|
|
26,851,244 |
|
| Accumulated
depreciation, depletion and amortization |
|
|
(51,176 |
) |
|
|
(323,369 |
) |
|
|
- |
|
|
|
(374,545 |
) |
| Undeveloped
and non-producing oil and gas properties, net |
|
$ |
1,237,489 |
|
|
$ |
25,622,145 |
|
|
$ |
- |
|
|
$ |
26,859,634 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Oil and Gas Properties, Net |
|
$ |
3,002,862 |
|
|
$ |
36,157,913 |
|
|
$ |
- |
|
|
$ |
39,160,775 |
|
|