OIL AND GAS PROPERTIES

9 Months Ended

Sep. 30, 2013

Extractive Industries [Abstract]

OIL AND GAS PROPERTIES

NOTE 3 — OIL AND GAS PROPERTIES

Total additions for oil and gas properties for the three months ended September 30, 2013 and 2012 were $12,249,585 and $3,875,414, respectively. Total additions for oil and gas properties for the nine months ended September 30, 2013 and 2012 were $24,942,086 and $18,124,869, respectively. Depreciation, depletion, and amortization expenses on oil and gas properties were $962,089 and $491,540 for the three months ended September 30, 2013 and 2012, respectively. Depreciation, depletion, and amortization expenses on oil and gas properties were $2,296,046 and $2,122,114 for the nine months ended September 30, 2013 and 2012, respectively.