Asset Retirement Obligations

3 Months Ended

Mar. 31, 2016

Asset Retirement Obligations

Asset Retirement Obligations

Note 8 - Asset retirement obligations

A reconciliation of the Company's asset retirement obligations (“ARO”) at March 31, 2016, is as follows:

Balance, December 31, 2015	$	995,197
Accretion expense		23,542
Balance, March 31, 2016		1,018,739
Less current asset retirement obligations		(419,094	)
Long-term asset retirement obligations	$	599,645