Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current Assets    
Cash $ 52,350,583 $ 5,404,167
Accounts receivable. 3,888,402 417,965
Prepaid expenses and retainers 66,051 60,398
Total Current Assets 56,305,036 5,882,530
Properties and Equipment    
Oil and natural gas properties subject to amortization 58,040,724 23,051,904
Office equipment, 257,911 175,106
Total Properties and Equipment 58,298,635 23,227,010
Accumulated depreciation, depletion and amortization (2,880,253) (596,162)
Net Properties and Equipment 55,418,382 22,630,848
Total Assets 111,723,418 28,513,378
Current Liabilities    
Accounts payable 6,229,490 1,191,431
Other accrued liabilities 1,002,153 0
Total Current Liabilities 7,231,643 1,191,431
Noncurrent Liabilities    
Deferred income taxes 703,651 625,950
Asset retirement obligation 1,182,410 496,286
Total Noncurrent Liabilities 1,886,061 1,122,236
Stockholders' Equity    
Preferred stock - $0.001 par value; 50,000,000 shares authorized; no shares issued or outstanding 0 0
Common stock - $0.001 par value; 150,000,000 shares authorized; 23,576,313 shares and 14,166,011 shares outstanding, respectively 23,576 14,166
Additional paid-in capital 109,018,165 32,169,363
Accumulated deficit (6,436,027) (5,983,818)
Total Stockholders' Equity 102,605,714 26,199,711
Total Liabilities and Stockholders' Equity $ 111,723,418 $ 28,513,378