OIL AND GAS PROPERTIES

3 Months Ended

Mar. 31, 2013

OIL AND GAS PROPERTIES

OIL AND GAS PROPERTIES

6.           OIL AND GAS PROPERTIES

The following table sets forth the composition of impairment and abandonment expenses:

	Three months ended March 31,
	2013		2012
Impairment and abandonment of unproved properties	$	817,738	$	676,474

2013 Asset Impairments. Non-cash impairments of unproved properties include $0.8 million related to individually insignificant acreage.  There were no impairments or abandonments of proved properties.

2012 Asset Impairments. Non-cash impairments of unproved properties include $0.7 million related to individually insignificant acreage.  There were no impairments or abandonments of proved properties.