Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright

تمرين 19

Decade Oil Corporation paid $500/acre for a lease with a three-year primary term.
During the next two years, Decade drilled three dry holes on the property. With one
more year of the primary term left, Decade still intends to try one more time. Should
any impairment be recognized on the property?