Oil and natural gas properties

12 Months Ended

Dec. 31, 2012

Oil And Natural Gas Properties

Oil and natural gas properties

Oil and natural gas properties are comprised of the following:

	December 31,
	2012			2011
Oil and natural gas properties	$	776,317		$	101,259
Drilling and work in process		208,728			268,436
Proved property - purchased gas wells		3,130,100			3,130,100
Proved property - drilled gas wells		1,753,026			1,753,026
Producing oil wells		400,535			222,598
Total oil and natural gas properties, at cost		6,268,706			5,475,419
Less: accumulated impairment		(3,685,202	)		(3,340,849	)
Oil and natural gas properties, net impairment		2,583,504			2,134,570
Less: accumulated depletion		(1,145,514	)		(1,099,211	)
Oil and natural gas properties, net		1,437,990			1,035,359

Depletion, depreciation, and accretion expense for the years ended December 31, 2012 and 2011 was $51,172 and $82,673, respectively. During the years ended December 31, 2012 and 2011, the Company recorded impairment losses of $344,353 and $102,579 respectively.