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SUBSEQUENT EVENTS
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6 Months Ended | 12 Months Ended |
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Jun. 30, 2012
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Dec. 31, 2011
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| Subsequent Events [Text Block] |
NOTE
7. SUBSEQUENT EVENTS
Between
July 1, 2012 and August 16, 2012 the Company sold
1,318,863 shares of its common stock, at a price of $0.70
per share, to a group of private investors.
During
July 2012 the Company issued 105,000 shares of its common
stock to consultants in exchange for services
rendered.
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NOTE
7. SUBSEQUENT
EVENTS
In
April 2012 the Company purchased 9,125,500 of the
Company’s common stock from an unrelated third party
for $9,126.
During
April 2012 the Company issued 210,000 shares of its common
stock to an officer and employee of the Company in exchange
for services rendered at a price of $0.02 per share.
During
April, 2012 the Company sold 1,000,000 shares of its common
stock to a group of private investors for $51,250.
In
April 2012 the Company sold 8,367,850 shares of its common
stock to its officers, directors and private investors for
$173,902.
In
April 2012, the Company entered into a farmout agreement
with a related party pertaining to a 200-acre lease in
Milam County, Texas at a price of $475,000. As of June 30,
2012, the Company had commenced drilling of five wells on
the lease. The total amount incurred for the drilling of
the five wells was $1,375,000 as of June 30, 2012.
Between
May 1, 2012 and August 31, 2012 the Company sold 5,531,798
shares of its common stock, at a price of 0.70 per share,
to a group of private investors. A director in the Company
purchased 250,000 of these shares.
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