OIL AND GAS PROPERTIES

6 Months Ended

Jun. 30, 2014

Extractive Industries [Abstract]

OIL AND GAS PROPERTIES

NOTE 4 — OIL AND GAS PROPERTIES

Total additions for oil and gas properties for the three months ended June 30, 2014 and 2013 were $14,021,282 and $6,276,278, respectively. Total additions for oil and gas properties for the six months ended June 30, 2014 and 2013 were $16,008,089 and $7,654,169, respectively. Depreciation, depletion, and amortization expenses on oil and gas properties were $2,148,847 and $717,643 for the three months ended June 30, 2014 and 2013, respectively. Depreciation, depletion, and amortization expenses on oil and gas properties were $4,238,454 and $1,333,957 for the six months ended June 30, 2014 and 2013, respectively.