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Asset Retirement Obligation (Tables)

9 Months Ended

Sep. 30, 2013

Asset Retirement Obligation [Abstract]

Changes in Asset Retirement Obligations

The following shows the changes in asset retirement obligations:

Asset retirement obligations, December 31, 2012		$	1,336,151
Liabilities incurred during the period			50,269
Liabilities settled during the period			(96,466)
Liabilities of Black Raven acquired September 27, 2013			1,251,511
Accretion			84,578
Asset retirement obligations, September 30, 2013		$	2,626,043

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- Definition

Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 410

-SubTopic 30

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6393242&loc=d3e13201-110859

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