Oil and Gas Properties (Tables)

9 Months Ended

Sep. 30, 2012

Oil and Gas Properties [Abstract]

Aggregate Amount of Capitalized Costs Relating to Crude Oil and Natural Gas Producing Activities and Aggregate Amount of Related Accumulated Depreciation Depletion and Amortization

The aggregate amount of capitalized costs relating to crude oil and natural gas producing activities and the aggregate amount of related accumulated depreciation, depletion and amortization at September 30, 2012 and December 31, 2011 were:

	September 30			December 31
	2012			2011			Change ($)
Unproven Properties	$	533,293		$	530,539		$	2,754
Depreciation and impairment		(513,374	)		(511,847	)		(1,527	)
Oil and gas properties, net	$	19,919		$	18,692		$	1,227

Schedule of Change in Asset Retirement Obligation [Table Text Block]

The following table summarizes the activity for the Company’s asset retirement obligations:

	September 30		December 31
	2012		2011
Asset retirement obligations, beginning of period	$	55,316	$	52,558
Accretion expense		2,216		2,758
Asset retirement obligations, end of period		57,532		55,316
Less: current portion		-		-
Long-term asset retirement obligations, end of period	$	57,532	$	55,316