Property and Equipment

6 Months Ended

Jun. 30, 2012

Property and Equipment

At June 30, 2012 and December 31, 2011, property and equipment consisted of the following:

	June 30, 2012			December 31, 2011

Land	$	560,907		$	536,854
Buildings and leasehold improvements		531,817			434,864
Computer equipment and software		870,634			497,317
Trucks and autos		374,276			293,946
Field equipment		233,163			247,826
Office equipment		195,168			133,893
Construction in progress		2,049,936			-
Subtotal		4,815,901			2,144,700
Accumulated depreciation		(621,257	)		(506,420	)
Totals	$	4,194,644		$	1,638,280

Depreciation expense for the three and six months ended June 30, 2012 and 2011 was $83,294 and $167,004, and $6,928 and $27,420 respectively. The Company evaluates the recoverability of property and equipment when events and circumstances indicate that such assets might be impaired.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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