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CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2012
Dec. 31, 2011
Current Assets    
Cash $ 6,614,338 $ 11,372
Accounts receivable 90,754 91,022
Prepaid expenses and retainers 150,949 46,301
Total Current Assets 6,856,041 148,695
Properties and Equipment    
Oil and natural gas properties subject to amortization 7,283,165 6,597,433
Office equipment 194,207 11,133
Total Properties and Equipment 7,477,372 6,608,566
Accumulated depreciation, depletion and amortization (265,211) (89,376)
Net Properties and Equipment 7,212,161 6,519,190
Refundable lease deposit 75,000 75,000
Total Assets 14,143,202 6,742,885
Current Liabilities    
Accounts payable 413,120 100,321
Accrued compensation 0 100,000
Derivative put option 183,328 276,736
Revolving line of credit 5,000,000 0
Total Current Liabilities 5,596,448 477,057
Noncurrent Liabilities    
Revolving line of credit. 0 9,244,428
Note payable to Ring Energy, Inc. 0 853,122
Asset retirement obligations 284,312 274,788
Total Noncurrent Liabilities 284,312 10,372,338
Stockholders Equity (Deficit)    
Common stock - $0.001 par value; 75,000,000 shares authorized; 10,019,808 and 3,440,000 shares outstanding, respectively 10,020 3,440
Additional paid-in capital 13,738,608 204,585
Accumulated deficit (5,486,186) (4,314,535)
Total Stockholders Equity (Deficit) 8,262,442 (4,106,510)
Total Liabilities and Stockholders Equity (Deficit) $ 14,143,202 $ 6,742,885