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Note 10 - Exploration Costs
3 Months Ended
Dec. 31, 2012
Oil and Gas Exploration and Production Industries Disclosures [Text Block]
NOTE 10: Exploration Costs

In the quarter ended December 31, 2012, lease expirations and leasehold impairments of $13,222 were charged to exploration costs. Leasehold impairments are recorded for individually insignificant non-producing leases which the Company believes will not be transferred to proved properties over the remaining lives of the leases. In the quarter ended December 31, 2012, the Company also had additional costs of $6,545 related to exploratory dry hole adjustments. In the quarter ended December 31, 2011, lease expirations and impairments of $311,817 were charged to exploration costs as well as additional costs of $1,553 related to exploratory dry holes.