v2.4.0.8

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Mar. 31, 2013	Mar. 31, 2012
Revenues:
Turnkey drilling revenues		$ 2,664,474
Natural gas and oil sales	65,293	79,620
Revenues	65,293	2,744,094
Costs and expenses:
Turnkey drilling costs		1,258,976
Lease operating expense	43,461	37,192
General and administrative	522,191	518,117
Accretion expense	2,562	13,125
Depletion and depreciation	40,948	36,496
Total costs and expenses	609,162	1,863,906
Income (loss) before income taxes	(543,869)	880,188
Income tax (benefit) expense	(99,935)	231,000
Net income (loss)	(443,934)	649,188
Net income (loss) attributable to noncontrolling interests	(152,928)	377,268
Net income (loss) attributable to Vadda common stockholders	$ (291,006)	$ 271,920
Basic and diluted income (loss) per Vadda common share	$ 0.00	$ 0
Weighted average number of common shares Outstanding - basic and fully diluted	104,235,236	104,235,236

Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability.

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Revenue from the sale of oil and gas during the period.

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VADDA ENERGY CORP 10-Q