Oil and Gas Properties

3 Months Ended

Mar. 31, 2017

Oil and Gas Property [Abstract]

Oil and Gas Properties

Note 3 - Oil and Gas Properties

The following table sets forth information concerning the Company's oil and gas properties:

	March 31, 2017			December 31, 2016
Proved oil and gas properties at cost, net of impairment	$	5,325,381		$	5,325,381
Unproved oil and gas properties at cost, net of impairment		154,977			154,977
Accumulated depreciation, depletion and amortization		(3,712,000	)		(3,662,000	)
Oil and gas properties, net	$	1,768,358		$	1,818,358

During the three month periods ended March 31, 2017 and 2016, the Company recorded depletion expense of $50,000 and $155,000, respectively. The Company recorded impairment expense of $0 and $252,000 for the three month periods ended March 31, 2017 and 2016, respectively.