Hello - I need some assisstance with this question regarding a securiting offering announcement:

This announcement is not an offer of securities for sale or an offer to buy securities.

New Issue, May 15, 2017 $950,000,00

CRUDE OIL& GAS, INC.

6.25% Debentures Due July 1, 2032

Price 103.35%

Plus accrued interest if any from the date of issuance

Copies of the prospectus and the related prospectus supplement may be obtained from such of the undersigned as may legally offer these securities under applicable securities laws.

Kermit Jeffers & Co. Inc. / Banks Bros. & Co. \ William Stork & Co.

1. How will Crude Oil & Gas be recorded in this sale of securities?

2. How will this impact their future interest expense entries?

3. Describe the entry to record the sale of a security and its impact on future interest expense.

Thank you!