Ring Energy, Inc. Annual report pursuant to Section 13 and 15(d)

OIL AND GAS COSTS (Tables)

12 Months Ended

Dec. 31, 2012

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