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1. Organization of The Company and Significant Accounting Policies: Revenue and Cost Recognition (Policies)
3 Months Ended
Mar. 31, 2013
Policies  
Revenue and Cost Recognition

 

Revenue and Cost Recognition

Oil and Gas: Revenue is recognized from oil and gas sales in the period of delivery.  Settlement on sales occurs anywhere from two weeks to two months after the delivery date. The Company recognizes revenue when an arrangement exists, the product has been delivered, the sales price has been fixed or determinable, and collectability is reasonably assured.