7. PROPERTY, PLANT, AND EQUIPMENT |
12 Months Ended | ||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||
| Notes | |||||||||||||||||||||||||||||
| 7. PROPERTY, PLANT, AND EQUIPMENT | 7.PROPERTY, PLANT, AND EQUIPMENT
Property, plant, and equipment is comprised of the following as of December 31:
Eagle Springs Refinery consists of tanks, buildings, refining processing equipment, shop, lab and equipment. For Eagle Springs Refinery, each class of property, plant and equipment is estimated to have a useful life of 5 years and are being amortized over a straight-line basis.
Depreciation and amortization expense totaled $793,449 and $564,639 for the years ended December 31, 2024 and 2023, respectively. |