| SCHEDULE OF EVALUATED OIL AND GAS PROPERTIES SUBJECT TO AMORTIZATION |
Evaluated
oil and gas properties subject to amortization at December 31, 2024 included the following:
SCHEDULE OF EVALUATED OIL AND GAS PROPERTIES SUBJECT TO AMORTIZATION
| | |
United States | | |
South America | | |
Total | |
| | |
| | |
| | |
| |
| Evaluated properties being amortized | |
$ | 13,326,003 | | |
$ | 49,444,654 | | |
$ | 62,770,657 | |
| Accumulated depreciation, depletion, amortization and impairment | |
| (12,208,367 | ) | |
| (49,444,654 | ) | |
| (61,653,021 | ) |
| Net capitalized costs | |
$ | 1,117,636 | | |
$ | - | | |
$ | 1,117,636 | |
Evaluated
oil and gas properties subject to amortization at December 31, 2023 included the following:
| | |
United States | | |
South America | | |
Total | |
| | |
| | |
| | |
| |
| Evaluated properties being amortized | |
$ | 13,321,907 | | |
$ | 49,444,654 | | |
$ | 62,766,561 | |
| Accumulated depreciation, depletion, amortization and impairment | |
| (11,762,288 | ) | |
| (49,444,654 | ) | |
| (61,206,942 | ) |
| Net capitalized costs | |
$ | 1,559,619 | | |
$ | - | | |
$ | 1,559,619 | |
|