First Titan Corp. | 2013 | FY | 3


The following table reflects the changes in the ARO during years ended September 30, 2013 and 2012: 


               

 

Year Ended
September 30,

 

 

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

 


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