NOTE 5. OIL AND GAS ACQUISITIONS
|
9 Months Ended |
---|---|
Sep. 30, 2012
|
|
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
September 30, 2012, the Company had completed the drilling of
six wells on the lease. The total
amount incurred for the drilling of the six wells was
$1,525,000 as of September 30, 2012.
|