Titan Oil & Gas (Titan Oil & Gas) Long-Term Capital Lease Obligation : $0.00 Mil (As of May. 2013)

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What is Titan Oil & Gas Long-Term Capital Lease Obligation?

Titan Oil & Gas's Long-Term Capital Lease Obligation for the quarter that ended in May. 2013 was $0.00 Mil.

Titan Oil & Gas Long-Term Capital Lease Obligation Historical Data

The historical data trend for Titan Oil & Gas's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Titan Oil & Gas Long-Term Capital Lease Obligation Chart

Titan Oil & Gas Annual Data

Trend

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Long-Term Capital Lease Obligation

Titan Oil & Gas Quarterly Data
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Titan Oil & Gas (GREY:TNGS) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Titan Oil & Gas (Titan Oil & Gas) Business Description

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Address

7251 West Lake Mead Boulevard, Suite 300, Las Vegas, NV, USA, 89128

Website

http://www.titanoilgas.com

Titan Oil & Gas Inc is an is an exploration stage company. It is engaged in the acquisition, exploration and development of oil and gas properties.

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