PROPERTY AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2013

	June 30, 2013			December 31, 2012
Oil and gas properties - proved	$	998,512		$	229,844
Oil and gas properties - unproved	484,249			528,076
Total oil and gas properties	1,482,761			757,920
Furniture, fixtures, and equipment	138,378			97,084
Total property, plant, & equipment	1,621,139			855,004
Accumulated DD&A	(198,446		)	(177,676		)

Property & equipment, net	$	1,422,693		$	677,328

- Definition

Tabular disclosure of the useful life and salvage value of 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.

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