General form of registration statement for all companies including face-amount certificate companies

OIL AND GAS PRODUCING ACTIVITIES

v2.4.0.8
OIL AND GAS PRODUCING ACTIVITIES
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
OIL AND GAS PRODUCING ACTIVITIES    
OIL AND GAS PRODUCING ACTIVITIES

NOTE 4 – OIL AND GAS PRODUCING ACTIVITIES

 

Set forth below is certain information regarding the aggregate capitalized costs of oil and gas properties and costs incurred by the Company for its oil and gas property acquisitions, development and exploration activities:

 

Capitalized Costs Relating to Oil and Natural Gas Producing Activities

 

 

 

 

 

 

 

As of

 

As of

 

 

December 31,

 

December 31,

 

 

2013

 

2012

Proved oil and natural gas properties

 

$

58,040,724

 

$

23,051,904

Office equipment

 

 

257,911

 

 

175,106

Total capitalized costs

 

 

58,298,635

 

 

23,227,010

Accumulated depletion, depreciation and amortization

 

 

(2,880,253)

 

 

(596,162)

 

 

 

 

 

 

 

Net Capitalized Costs

 

$

55,418,382

 

$

22,630,848

 

Net Costs Incurred in Oil and Gas Producing Activities

 

 

 

 

 

 

 

For the Year Ended

 

For the Year Ended

 

 

December 31,

 

December 31,

 

 

2013

 

2012

Acquisition of proved properties

 

$

5,192,441

 

$

9,873,128

Development costs

 

 

29,796,379

 

 

6,581,343

 

 

 

 

 

 

 

Total Net Costs Incurred

 

$

34,988,820

 

$

16,454,471

 
OIL AND GAS PRODUCING ACTIVITIES.  

NOTE 4 – OIL AND GAS PRODUCING ACTIVITIES

 

Set forth below is certain information regarding the aggregate capitalized costs of oil and gas properties and costs incurred by the Company for its oil and gas property acquisitions, development and exploration activities:

 

Capitalized Costs Relating to Oil and Natural Gas Producing Activities

 

 

 

As of

 

As of

 

 

December 31,

 

December 31,

 

 

2012

 

2011

Proved oil and natural gas properties

$

23,051,904

$

6,597,433

Office equipment

 

175,106

 

11,133

Total capitalized costs

 

23,227,010

 

6,608,566

Accumulated depletion, depreciation and amortization

 

(596,162)

 

(89,376)

 

 

 

 

 

Net Capitalized Costs

$

22,630,848

$

6,519,190

 

Net Costs Incurred in Oil and Gas Producing Activities

 

 

 

For the Year Ended

 

For the Year Ended

 

 

December 31,

 

December 31,

 

 

2012

 

2011

Acquisition of proved properties

$

9,873,128

$

6,280,391

Development costs

 

6,581,343

 

317,042

 

 

 

 

 

Total Net Costs Incurred

$

16,454,471

$

6,597,433