Annual report pursuant to Section 13 and 15(d)

ASSET RETIREMENT OBLIGATION (Tables)

v3.8.0.1
ASSET RETIREMENT OBLIGATION (Tables)
12 Months Ended
Dec. 31, 2017
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, 2015, 2016 and 2017 is as follows:
 
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
 
Liabilities incurred
 
 
1,297,289
 
Liabilities settled
 
 
(766,595)
 
Accretion expense
 
 
567,968
 
Balance, December 31, 2017
 
$
9,055,697