ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

3 Months Ended

Mar. 31, 2017

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

NOTE 9—ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payable and accrued liability balances were comprised of trade accounts payable and accrued liabilities, drilling advances, crude oil and natural gas distributions payable and are shown below:

	March 31, 2017		December 31, 2016
Trade payables and accrued liabilities	$	6,872,687	$	2,366,429
Accrued interest payable		784,415		352,599
Liabilities incurred in connection with acquisition of crude oil and natural gas properties		—		290,078
Total	$	7,657,102	$	3,009,106