OIL AND GAS PROPERTIES

9 Months Ended

Sep. 30, 2015

NOTE 3 – OIL AND GAS PROPERTIES

During the nine months ended September 30, 2015, the Company invested $141,146 for the development of oil and gas properties, consisting of (1) preparation and evaluation costs in Colombia of $61,375, and (2) costs on U.S. properties of $79,771. Of the amount invested, the Company capitalized $78,694 to oil and gas properties subject to amortization, and $62,452 to oil and gas properties not subject to amortization.

During the nine months ended September 30, 2015, the Company disposed of a portion of its interest in three non-producing domestic prospects for proceeds of $56,705. Proceeds received from disposal of such interests were accounted for as a reduction in capitalized cost of oil and gas properties.

Geographical Information

The Company currently has operations in two geographical areas, the United States and Colombia. Revenues for the nine months ended September 30, 2015 and long lived assets (net of depletion, amortization, and impairments) as of September 30, 2015 attributable to each geographical area are presented below:

	Nine Months Ended September 30, 2015			As of September 30, 2015
	Revenues			Long Lived Assets, Net
United States		$	340,541		$	2,384,242
Colombia			—			2,095,383
Total		$	340,541		$	4,479,625