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Oil and Gas Properties (Tables)
 12 Months Ended
Dec. 31, 2012
Oil And Gas Properties Tables  
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 December 31, 2012 and December 31, 2011 were:

 

    December 31     December 31        
    2012     2011     Change ($)  
Unproven Properties   $ 537,501     $ 530,539     $ 6,962  
Depreciation and impairment     (513,374 )     (511,847 )     (1,527 )
     Oil and gas properties, net   $ 24,127     $ 18,692     $ 5,435  
Costs incurred in oil and gas property acquisition, exploration and development

Costs incurred in oil and gas property acquisition, exploration and development activities for the years ended December 31, 2012 and 2011 were:

 

    December 31,  
    2012     2011  
Beginning balance, net   $ 18,692     $ 26,593  
Unproven Properties:                
Acqusisition costs     -       -  
Exploration Costs     -       (5,249 )
Development costs     6,962       612  
Impairment of properties     (1,527 )     (3,264 )
Ending balance, net   $ 24,127     $ 18,692  
Results of operation for the Companys oil and gas producing activities

The table below shows the results of operation for the Company’s oil and gas producing activities for the years ended December 31, 2012 and 2011. All production is within the continental United States.

 

    For the years ended December 31,  
    2012     2011  
Revenue            
Oil   $ 17,035     $ 25,605  
Gas     2,459       7,182  
    Total Revenue     19,494       32,787  
                 
Expenses                
Production     17,715       19,176  
Production taxes     1,343       2,061  
Impairment     1,527       3,264  
    Total expenses     20,585       24,501  
Results of operations   $ (1,091 )   $ 8,286  
Schedule of Change in Asset Retirement Obligation

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

 

    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