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Changes in the asset retirement obligation were as follows: (Details) (Asset Retirement obligation, USD $)
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Asset Retirement obligation
USD ($)
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| Balance., at Dec. 31, 2012 | $ 496,286 |
| Revision of estimate, | 211,691 |
| Liabilities incurred | 67,352 |
| Accretion expense, | 23,277 |
| Balance1 at Jun. 30, 2013 | $ 798,606 |
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- Definition
Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations No definition available.
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- Definition
Assets opening balance No definition available.
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- Definition
Closing balance of the asset No definition available.
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- Definition
Amount of asset retirement obligations incurred during the period. No definition available.
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- Definition
Any changes made during the period to the evaluation or calculation of the estimated quantity of oil or gas in proved reserves. No definition available.
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