Note 6. NOTES PAYABLE	6 Months Ended
Jun. 30, 2012
Notes to Financial Statements
Note 6. NOTES PAYABLE	Note 6. NOTES PAYABLE Pursuant to the net profits production interest acquisition in December 2010, Regent NRCo executed a promissory note for $81,750 payable to SIG Partners, LC, a related party (see Note 8). The interest rate on the note is 7% with principal payments of $3,400 per month due beginning February 2011. At June 30, 2012, the payment schedule is current and the principal balance outstanding is $23,950. The promissory note is secured by the oil and gas property interest conveyed. Beginning in 2005, the Company has borrowed various amounts for general corporate purposes under promissory notes to NR Partners, a related party (see Note 8). The outstanding amount of $5,000 owed to NR Partners at the end of the current period bears interest at the rate of 5% per annum and is due upon demand. All amounts owed to NR Partners were paid in July 2012.

Note 6. NOTES PAYABLE

6 Months Ended

Jun. 30, 2012

Note 6. NOTES PAYABLE

Pursuant to the net profits production interest acquisition in December 2010, Regent NRCo executed a promissory note for $81,750 payable to SIG Partners, LC, a related party (see Note 8). The interest rate on the note is 7% with principal payments of $3,400 per month due beginning February 2011. At June 30, 2012, the payment schedule is current and the principal balance outstanding is $23,950. The promissory note is secured by the oil and gas property interest conveyed.

Beginning in 2005, the Company has borrowed various amounts for general corporate purposes under promissory notes to NR Partners, a related party (see Note 8). The outstanding amount of $5,000 owed to NR Partners at the end of the current period bears interest at the rate of 5% per annum and is due upon demand. All amounts owed to NR Partners were paid in July 2012.