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

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
 3 Months Ended 4 Months Ended 8 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Apr. 30, 2011
Dec. 31, 2011
Sep. 30, 2013
Sep. 30, 2012
Dec. 31, 2012
Revenues {1}              
Oil and Gas Revenues $ 2,820,731 $ 374,739 $ 96,956 $ 388,674 $ 5,264,267 $ 1,045,264 $ 1,757,444
Costs and Operating Expenses              
Oil and gas production costs 291,182 216,908 0 0 646,905 592,163 0
Oil and gas production taxes 130,944 17,296 4,468 18,428 243,620 49,921 82,995
Lease operating expenses 0 0 71,656 173,310 0 0 785,959
Depreciation, depletion and amortization 917,116 117,267 2,778 89,376 1,657,386 293,102 506,786
Accretion expense 13,906 4,763 3,732 5,547 37,183 14,287 20,906
General and administrative expenses (including $944,681 and $95,897, respectively, in share-based compensation) 1,611,318 671,438 6,000 428,575 4,678,581 1,825,937 2,392,645
Total Costs and Operating Expenses 2,964,466 1,027,672 88,634 715,236 7,263,675 2,775,410 3,789,291
Income (Loss) from Operations 0 0 8,322 (326,562) 0 0 (2,031,847)
Other Income (Expense)              
Gain on derivative put options 0 53,224 0 73,946 0 146,632 276,736
Gain on change in value of Ring Energy, Inc., common stock 0 0 0 160,000 0 0 0
Non-refundable transaction fee 0 0 0 250,000 0 0 0
Interest income 12,242 2,248 0 0 12,242 2,248 4,309
Interest expense 0 (33,992) 0 (94,219) 0 (221,838) (218,805)
Net Other Expense 12,242 21,480 0 0 12,242 (72,958) 0
Other Income, net 0 0 0 389,727 0 0 62,240
Income (Loss) Before Provision for Income Taxes 0 0 8,322 63,165 0 0 (1,969,607)
Benefit from Income Taxes 0 0 0 0 0 0 300,324
Net Income (Loss) $ (131,493) $ (631,453) $ 8,322 $ 63,165 $ (1,987,166) $ (1,803,104) $ (1,669,283)
Basic and Diluted Earnings (Loss) per Share $ 0.00 $ 0.00 $ 0.00 $ 0.01 $ 0.00 $ 0.00 $ (0.21)
Basic Loss per Share $ (0.01) $ (0.06) $ 0.00 $ 0.00 $ (0.13) $ (0.29) $ 0.00
Diluted Loss per Share $ 0.01 $ (0.06) $ 0.00 $ 0.00 $ (0.13) $ (0.29) $ 0.00