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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
2 Months Ended 4 Months Ended 6 Months Ended
Jun. 30, 2011
Apr. 30, 2011
Jun. 30, 2012
Cash Flows From Operating Activities      
Net income (loss). $ (25,235) $ 8,322 $ (1,171,651)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization. 1,657 2,778 175,835
Accretion expense. 781 3,732 9,524
Share-based compensation. 0 0 445,234
Gain on derivative put options. (5,460) 0 (93,408)
Changes in assets and liabilities:      
Accounts receivable. (33,396) 4,677 268
Prepaid expenses. 0 0 (77,706)
Accounts payable. 18,656 6,907 302,906
Accrued compensation. 0 0 (100,000)
Net Cash Provided by (Used in) Operating Activities (42,997) 26,416 (508,998)
Cash Flows from Investing Activities      
Payments to purchase oil and natural gas properties (2,073,428) 0 (28,006)
Payments to develop oil and natural gas properties (15,560) 0 (474,085)
Purchase of office equipment 0 0 (179,078)
Net Cash Used in Investing Activities (2,088,988) 0 (681,169)
Cash Flows From Financing Activities      
Proceeds from borrowings from Ring Energy, Inc. 0 0 1,150,000
Proceeds from borrowings under revolving line of credit 2,073,428 0 0
Proceeds from issuance of common stock to Ring Energy, Inc. shareholders 0 0 10,887,561
Principal payments on revolving line of credit 0 0 (4,244,428)
Capital contributions from shareholders. 50,000 0 0
Capital distributions to owners. 0 (26,416) 0
Net Cash Provided by (Used in) Financing Activities 2,123,428 (26,416) 7,793,133
Net Increase (Decrease) in Cash (8,557) 0 6,602,966
Cash at Beginning of Period 30,000 0 11,372
Cash at End of Period 21,443 0 6,614,338
Supplemental Cash Flow Information      
Cash paid for interest 8,754 0 93,471
Noncash Investing and Financing Activities      
Oil and natural gas properties acquired 2,248,605 0 0
Asset retirement obligations assumed (62,255) 0 0
Payments with Ring Energy, Inc. shares (40,000) 0 0
Derivative put option incurred (72,922) 0 0
Cash payments for oil and natural gas properties acquired 2,073,428 0 0
Issuance of common stock to Ring Energy, Inc. shareholders 0 0 13,095,369
Accounts payable assumed 0 0 9,893
Less: Elimination of note payable to Ring Energy, Inc. 0 0 (2,003,122)
Less: Prepaid expenses acquired 0 0 (26,942)
Less: Property and equipment acquired 0 0 (187,637)
Proceeds from issuance of common stock to Ring Energy, Inc. shareholders. 0 0 10,887,561
Capital contribution of Ring Energy, Inc. common stock $ 40,000 $ 0 $ 0