OIL AND GAS ACQUISITIONS
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6 Months Ended |
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Jun. 30, 2012
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Oil and Gas Properties [Text Block] |
NOTE
5. OIL AND GAS ACQUISITIONS
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.
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