| Note 4 - Oil and Gas Properties |
The following table summarizes the Company’s oil and gas activities by classification and geographical cost center for the nine months ended September 30, 2019:
|
|
December 31,
2018
|
|
|
Adjustments |
|
|
Impairments |
|
|
September 30,
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proved developed producing oil and gas properties |
|
|
|
|
|
|
|
|
|
|
|
|
United States cost center |
|
$ |
81,936,721 |
|
|
$ |
(578,384 |
) |
|
$ |
- |
|
|
$ |
81,358,337 |
|
Accumulated depreciation, depletion and amortization |
|
|
(604,735 |
) |
|
|
(5,078,054 |
) |
|
|
- |
|
|
|
(5,682,789 |
) |
Proved developed producing oil and gas properties, net |
|
$ |
81,331,986 |
|
|
$ |
(5,656,438 |
) |
|
$ |
- |
|
|
$ |
75,675,548 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Undeveloped and non-producing oil and gas properties |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States cost center |
|
$ |
51,973,719 |
|
|
$ |
(496,028 |
) |
|
$ |
- |
|
|
$ |
51,477,691 |
|
Accumulated depreciation, depletion and amortization |
|
|
(1,480,813 |
) |
|
|
(1,853,763 |
) |
|
|
- |
|
|
|
(3,334,576 |
) |
Undeveloped and non-producing oil and gas properties, net |
|
$ |
50,492,906 |
|
|
$ |
(2,349,791 |
) |
|
$ |
- |
|
|
$ |
48,143,115 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Oil and Gas Properties, Net |
|
$ |
131,824,892 |
|
|
$ |
(8,006,229 |
) |
|
$ |
- |
|
|
$ |
123,818,663 |
|
|