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7. SUBSEQUENT EVENTS
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3 Months Ended |
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Mar. 31, 2012
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| Subsequent Events [Text Block] |
7. SUBSEQUENT
EVENTS
The
Company has evaluated events and transactions since the
balance sheet date of March 31, 2012 through the date the
financial statements were available to be
issued.
On
April 9, 2012, the Company formed the 2012 Bayou City Squeeze
Box Offset Program, L.P. The partnership was
formed to obtain a 5% working interest in the Squeeze Box
Shallow Well in Cameron Parish, LA. The Company
will pay for and hold a 10% interest in this partnership and
receives management fees equal to the excess, if any, of the
Turnkey Fees over the total cost to the Company of drilling
and if applicable, completing the partnership wells.
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