Oil and Gas Properties

9 Months Ended

Sep. 30, 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:

	September 30, 2017			December 31, 2016
Proved oil and gas properties at cost, net of impairment	$	5,199,370		$	5,325,381
Unproved oil and gas properties at cost, net of impairment		154,982			154,977
Accumulated depreciation, depletion and amortization		(3,785,000	)		(3,662,000	)
Oil and gas properties, net	$	1,569,352		$	1,818,358

During the three month periods ended September 30, 2017 and 2016, the Company recorded depletion expense of $62,000 and $104,5238, respectively and for the nine months ended September 30, 2017 and 2016, the Company recorded DD&A expense of $198,000 and $403,333, respectively The Company recorded no impairment expense for the three month periods ended September 30, 2017 and 2016, but did record an impairment expense for $252,000 for the nine months ended September 30, 2016.