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4. OIL AND GAS PROPERTIES (Tables)

6 Months Ended

Jun. 30, 2013

DisclosureOilAndGasPropertiesTablesAbstract

Oil and gas interests

The following tables summarize the Company’s oil and gas activities by classification for the six months ended June 30, 2013:

		December 31, 2012				Additions				Disposals				Transfers				June 30, 2013
Unproved properties		$	1,105,645			$	5,081,135			$	-			$	-			$	6,186,780
Proved properties			2,479,535				1,000,352												3,479,887
Asset retirement costs			16,552				(1,444)				-				-				15,108
Accumulated depreciation depletion and impairment			(255,662	)			(305,778	)			-				-				(561,440	)
Total oil and gas assets		$	3,346,070			$	5,774,265			$	-			$	-			$	9,120,335

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- Definition

Tabular disclosure of actual developed and undeveloped gas and oil acreage in which the entity owns an interest.

+ References

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

-Publisher SEC

-Name Industry Guide

-Number 2

-Paragraph 4

-Subparagraph A

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