Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of Fair Value Derivative Instruments

Information for assets and liabilities measured at fair value at March 31, 2014 and December 31, 2013 is as follows:

	Level 1		Level 2		Level 3		Total
As of March 31, 2014
Derivative assets, gross
Commodity puts	$	-	$	50,600	$	-	$	50,600
Derivative liabilities, gross
Commodity puts	$	-	$	-	$	-	$	-
Total derivatives, fair value, net	$	-	$	50,600	$	-	$	50,600

	Level 1		Level 2		Level 3		Total
As of December 31, 2013
Derivative assets, gross
Commodity puts	$	-	$	60,700	$	-	$	60,700
Derivative liabilities, gross
Commodity puts	$	-	$	-	$	-	$	-
Total derivatives, fair value, net	$	-	$	60,700	$	-	$	60,700