| Oil and Gas Exploration and Production Industries Disclosures [Text Block] |
Note 16 Oil and Gas Properties
The following table represents the capitalized costs under the successful efforts method for oil and gas properties at:
| |
|
|
December 31, 2011 |
|
June 30, 2011 |
| |
Proved oil and gas properties: |
|
|
|
|
| |
United Kingdom |
|
$ |
- |
|
$ |
- |
| |
United States |
|
|
22,841,426 |
|
|
19,185,630 |
| |
Australia |
|
|
10,761,816 |
|
|
116,908,491 |
| |
Less accumulated depletion, depreciation, and amortization |
|
|
(11,130,368) |
|
|
(115,916,596) |
| |
Total net proved oil and gas properties |
|
$ |
22,472,874 |
|
$ |
20,177,525 |
| |
|
|
|
|
|
|
|
| |
Unproved oil and gas properties: |
|
|
|
|
|
|
| |
United Kingdom |
|
$ |
3,169,281 |
|
$ |
3,205,058 |
| |
United States |
|
|
12,914 |
|
|
162,914 |
| |
Australia |
|
|
- |
|
|
- |
| |
Total unproved oil and gas properties: |
|
$ |
3,182,195 |
|
$ |
3,367,972 |
| |
|
|
|
|
|
|
|
| |
Wells in Progress: |
|
|
|
|
|
|
| |
United Kingdom |
|
$ |
2,839,874 |
|
$ |
2,054,668 |
| |
United States |
|
|
3,379,406 |
|
|
2,260,568 |
| |
Australia |
|
|
- |
|
|
- |
| |
Total wells in progress |
|
$ |
6,219,280 |
|
$ |
4,315,236 |
|