Supplemental Oil and Gas Information (Tables)

12 Months Ended

Dec. 31, 2015

Supplemental Oil And Gas Information Details - Proved And Unproved Costs

Net capitalized costs related to oil and gas producing activities

	December 31,
	2015			2014
Proved oil and natural gas properties	$	131,168,906		$	112,418,105
Unproved oil and natural gas properties		10,394			591,121
Accumulated depreciation, depletion and amortization, and impairment		(99,371,071	)		(18,820,963	)
Total	$	31,808,229		$	94,188,263

Costs incurred for oil and natural gas acquisition, exploration and development activities

	Years Ended
	December 31,
	2015		2014
Costs incurred for the year:
Proved property acquisition	$	102,928	$	3,164,469
Unproved property acquisition		–		–
Development		18,145,783		29,022,721
Total	$	18,248,711	$	32,187,190

Capitalized costs excluded from depletion

	Years Ended
	December 31,
	2015		2014
Property acquisition	$	10,394	$	591,121
Development		–		–
Total	$	10,394	$	591,121

Schedule of proved oil and natural gas reserves

	Oil			Natural
	(Bbls)			Gas (Mcf)
Proved developed and undeveloped reserves as of December 31, 2013		4,074,492			2,778,593
Revisions of previous estimates		(201,995	)		(131,966	)
Extensions, discoveries and other additions		1,199,673			925,763
Sale of reserves in place		(17,982	)		(12,482	)
Production		(256,257	)		(213,141	)
Proved developed and undeveloped reserves as of December 31, 2014		4,797,931			3,346,767
Revisions of previous estimates		(2,604,830	)		(1,160,775	)
Extensions, discoveries and other additions		175,602			166,953
Sale of reserves in place		–			–
Production		(356,678	)		(413,913	)
Proved developed and undeveloped reserves as of December 31, 2015		2,012,025			1,939,032
Proved developed reserves:
December 31, 2014		1,799,515			1,363,076
December 31, 2015		1,969,223			1,913,914
Proved undeveloped reserves:
December 31, 2014		2,998,416			1,983,691
December 31, 2015		42,802			25,118

Schedule of standardized discounted future cash flows

	Years Ended December 31,
	2015			2014
Future cash inflows	$	86,500,194		$	423,219,613
Future production costs		(39,241,657	)		(148,863,530	)
Future development costs		(468,738	)		(78,208,378	)
Future income tax expense		–			(42,717,592	)
Future net cash flows		46,789,799			153,430,113
10% annual discount for estimated timing of cash flows		(14,992,255	)		(68,308,455	)
Standardized measure of discounted future net cash flows	$	31,797,544		$	85,121,658

Reserve estimate pricing

	Oil		Natural
	(Bbl)		Gas (Mcf)
December 31, 2015	$	41.34	$	1.71
December 31, 2014	$	83.26	$	7.10

Schedule of changes in discounted future net cash flows

	Years Ended December 31,
	2015			2014
Standard measure, beginning of year	$	85,121,658		$	61,659,271
Sales of oil and natural gas produced, net of production costs		(9,763,075	)		(16,193,558	)
Net changes of prices and production costs		(56,694,415	)		(6,329,518	)
Revisions of quantity estimates		(33,837,468	)		(5,567,648	)
Extensions and discoveries and other adjustments		3,441,930			34,053,998
Changes in estimated future development costs		216,624			1,453,332
Sale of reserves in place		–			(276,920	)
Previously estimated development costs incurred during the period		16,391,373			8,946,915
Accretion of discount		10,033,467			7,437,666
Net changes in income taxes		15,240,529			(2,523,100	)
Changes in timing and other		1,646,921			2,461,220
Standard measure, end of year	$	31,797,544		$	85,121,658