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ACQUISITION OF OIL AND NATURAL GAS PROPERTIES (Tables)

3 Months Ended

Dec. 31, 2014

ACQUISITION OF OIL AND NATURAL GAS PROPERTIES.

Summary of allocation of purchase price to the assets acquired and liabilities assumed

Property and equipment		$	751,000
Asset retirement obligation		(225,000		)
Net identifiable assets acquired		$	526,000

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472

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