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.
|