Wells in Progress

12 Months Ended

Dec. 31, 2011

Oil and Gas Exploration and Production Industries Disclosures [Abstract]

Oil and Gas Exploration and Production Industries Disclosures [Text Block]

NOTE 4 – WELLS IN PROGRESS

The following table reflects the net changes in capitalized additions to wells in progress during 2010 and 2009:

	For the Year Ended December 31,
	2011			2010
Beginning balance	$	1,219,254			-
Additions to capital wells in progress costs		8,904,532			1,219,254
Reclassifications to proved properties		(3,698,563	)		-
Ending balance	$	6,425,509		$	1,219,254

All wells in progress have been capitalized for less than one year.