SUBSEQUENT EVENTS
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9 Months Ended |
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Sep. 30, 2012
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SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS |
NOTE 10 SUBSEQUENT EVENTS
Subsequent to September 30, 2012, the Company sold 327,223 shares of common stock for gross proceeds of $1,472,504 in a private placement at $4.50 per common share. No selling commissions were paid.
Subsequent to September 30, 2012, the Company purchased proved developed and undeveloped oil and natural gas reserves located in the Permian Basin, Andrews County, Texas. The total purchase price was $1,990,000 consisting of a cash payment of $1,000,000 and the issuance of 220,000 shares of Ring Energy, Inc. common stock valued at $4.50 per share. |
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- Details
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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