Nine Months Ended

September 30,

2015

2014

Purchases of oil and gas properties and development costs for cash

$

17,968,423

$

17,410,744

Purchase of oil and gas properties accrued at period-end

7,359,282

11,775,176

Purchase of oil and gas properties accrued at beginning of period

(9,364,796

)

(7,953,801

)

Advances to operators applied to purchase of oil and gas properties

–

4,285,575

Capitalized asset retirement costs, net of revision in estimate

42,391

61,815

Total purchase and development costs, oil and gas properties

$

16,005,300

$

25,579,509