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EXCEL - IDEA: XBRL DOCUMENT - Petron Energy II, Inc.Financial_Report.xls
10-K - FORM 10-K - Petron Energy II, Inc.tenk.htm
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EX-31 - EXHIBIT 31 - Petron Energy II, Inc.exhibit31.htm
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v2.4.0.6
PRODUCING OIL AND GAS PROPERTIES
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
NOTE 4 - PRODUCING OIL AND GAS PROPERTIES

The following summarizes the investment in producing oil & gas properties as of December 31, 2011 and 2010:

 

    2011     2010  
             
Leasehold Cost   $ 753,373     $ 699,273  
Development Cost     442,792       270,072  
Tangible Equipment     865,698       482,978  
      2,061,863       1,452,323  
                 
Accumulated Depletion     (628,795 )     (591,695 )
                 
Net Investment   $ 1,433,068     $ 860,628  

 

Depletion expense for the year ended December 31, 2011 and 2010 was $37,100 and $23,672, respectively.