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NOTE 5. 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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