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v2.4.0.6
Accounts Receivable
6 Months Ended
Feb. 29, 2012
Accounts Receivable [Abstract]  
Accounts Receivable
2.     Accounts Receivable

Accounts receivable consist primarily of trade receivables from oil and gas sales and amounts due from other working interest owners whom have been billed for their proportionate share of well costs.  For receivables from joint interest owners, the Company typically has the right to withhold future revenue disbursements to recover outstanding joint interest billings.  As of February 29, 2012 and August 31, 2011, major customers (i.e. those with balances greater than 10% of total receivables) are shown in the following table:

Accounts Receivable
 
As of
February 29,
 
As of
August 31,
from Major Customers:
 
2012
 
2011
Company A
 
32%
 
31%
Company B
 
27%
 
31%
Company C
 
13%
 
13%