Annual report pursuant to Section 13 and 15(d)

Asset Retirement Obligation

v3.19.1
Asset Retirement Obligation
12 Months Ended
Dec. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation

Note 4 – Asset Retirement Obligation

 

The following table provides a reconciliation of the changes in the estimated present value of asset retirement obligations for the years ended December 31, 2018 and December 31, 2017.

 

    For the period ended  
    December 31, 2018     December 31, 2017  
             
Beginning asset retirement obligations   $ 303,327     $ 291,659  
Liabilities established     23,709       -  
Accretion expense     13,081       11,668  
Ending asset retirement obligations   $ 340,117     $ 303,327  

 

Accretion expense for the years ended December 31, 2018 and 2017 was $13,081 and $11,668, respectively.