v3.25.1
ASSET RETIREMENT OBLIGATIONS
12 Months Ended
Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]  
ASSET RETIREMENT OBLIGATIONS

NOTE 5-ASSET RETIREMENT OBLIGATIONS

 

The following table presents changes in our asset retirement liability (“ARO”) during each of the years ended December 31, 2024 and 2023.

  

   2024   2023 
         
ARO liability at January 1  $63,084   $72,789 
Additions from new drilling   -    - 
Liabilities settled   -    (2,706)
Changes in estimates   (5,904)   (9,706)
Accretion expense   -    2,707 
           
ARO liability at December 31  $57,180   $63,084