Oil And Gas Assets

12 Months Ended

Dec. 31, 2012

Oil And Gas Assets [Abstract]

Oil And Gas Assets

NOTE 3 — OIL AND GAS ASSETS

Costs Excluded From Amortization

Unevaluated oil and natural gas properties not subject to amortization as of December 31, 2012 and 2011 consisted of the following:

Balance as of December 31, 2011	$	-
Acquisitions incurred in 2012		11,500
Balance as of December 31, 2012	$	11,500

The total costs excluded from the amortization base were obtained in the Prize Acquisition and East Texas Oil Field Acquisition in 2012. We believe that our evaluation activities related to all of our properties not subject to amortization will be completed within five years.