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SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2012
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 11 – SUBSEQUENT EVENTS Subsequent to June 30, 2012, the Company sold 63,520 shares of common stock for gross proceeds of $268,812.50 in a private placement at $4.25 per common share.  No selling commissions were paid. Also subsequent to June 30, 2012, the Company sold 627,892 shares of common stock for gross proceeds of $2,825,497 in a private placement at $4.50 per common share.  No selling commissions were paid. Subsequent to June 30, 2012, the Company drilled five wells in Texas.  None of the wells have yet been completed and put into operation.  It is anticipated that these wells will be completed and placed into service during the third quarter.

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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

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