Oil And Gas Assets

12 Months Ended

Dec. 31, 2013

Oil And Gas Assets [Abstract]

Oil And Gas Assets

NOTE 3 — OIL AND GAS ASSETS

Costs Excluded From Amortization

The following is a summary of our oil and gas properties not subject to amortization:

	December 31,		December 31,
		2013		2012
Acquisition of unevaluated properties:
Incurred in 2013	$	-	$	-
Incurred in 2012		4,320		11,500
Incurred in 2011 and prior		-		-
Total oil and gas properties not subject to amortization	$	4,320	$	11,500

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