General form of registration statement for all companies including face-amount certificate companies

ASSET RETIREMENT OBLIGATION (Tables)

v2.4.0.8
ASSET RETIREMENT OBLIGATION (Tables)
12 Months Ended
Dec. 31, 2012
ASSET RETIREMENT OBLIGATION (Tables)  
Changes in Asset Retirement Obligations

A reconciliation of the asset retirement obligation for the years ended December 31, 2011 and 2012 is as follows:

 

Balance, December 31, 2010

$

-

Liabilities incurred

 

269,241

Accretion expense

 

5,547

Balance, December 31, 2011

$

274,788

Liabilities incurred

 

200,593

Accretion expense

 

20,906

Balance, December 31, 2012

$

496,286