OIL AND GAS PROPERTIES

9 Months Ended

Sep. 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 September 30, 2014 and 2013 were $8,056,902 and $12,249,585, respectively. Total additions for oil and gas properties for the nine months ended September 30, 2014 and 2013 were $24,064,991 and $24,942,086, respectively. Depreciation, depletion, and amortization expenses on oil and gas properties were $2,511,970 and $962,089 for the three months ended September 30, 2014 and 2013, respectively. Depreciation, depletion, and amortization expenses on oil and gas properties were $6,750,318 and $2,296,046 for the nine months ended September 30, 2014 and 2013, respectively.