The following table reflects the changes in the ARO during years ended September 30, 2013 and 2012:
|
| Year Ended |
| |||||
|
| 2013 |
|
| 2012 |
| ||
| Asset retirement obligation - beginning of year | $ | 500 |
|
| $ | - |
|
| Current year revision to previous estimates |
| (155 | ) |
|
| - |
|
| Asset retirement obligation on properties drilled or acquired |
| 20,969 |
|
|
| 500 |
|
| Current year accretion |
| 330 |
|
|
| - |
|
| Asset retirement obligation - end of year | $ | 21,644 |
|
| $ | 500 |
|