Annual report pursuant to Section 13 and 15(d)

ASSET RETIREMENT OBLIGATION (Tables)

v3.6.0.2
ASSET RETIREMENT OBLIGATION (Tables)
12 Months Ended
Dec. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Asset Retirement Obligations [Table Text Block]
A reconciliation of the asset retirement obligation for the years ended December 31, 2014, 2015 and 2016 is as follows:
 
Balance, December 31, 2013
 
$
1,182,410
 
Liabilities acquired
 
 
575,977
 
Liabilities incurred
 
 
2,022,445
 
Liabilities settled
 
 
(39,316)
 
Accretion expense
 
 
154,973
 
Balance, December 31, 2014
 
$
3,896,489
 
Liabilities acquired
 
 
3,361,634
 
Liabilities incurred
 
 
171,635
 
Liabilities settled
 
 
(446,192)
 
Accretion expense
 
 
418,384
 
Balance, December 31, 2015
 
$
7,401,950
 
Liabilities incurred
 
 
308,509
 
Liabilities settled
 
 
(240,606)
 
Accretion expense
 
 
487,182
 
Balance, December 31, 2016
 
$
7,957,035