Accounting Policies, by Policy (Policies) |
6 Months Ended |
|---|---|
Jun. 30, 2015 | |
| Accounting Policies [Abstract] | |
| Use of Estimates, Policy [Policy Text Block] |
Management Estimates—The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
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| Property, Plant and Equipment, Policy [Policy Text Block] |
Property and Equipment
Full Cost Ceiling Test – Principally due to the decrease in oil prices, for the three months ended June 30, 2015, we reported a non-cash impairment write-down of $668,073 on our oil & gas properties.
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| New Accounting Pronouncements, Policy [Policy Text Block] |
Recent Accounting Pronouncements
The Company has evaluated all the recent accounting pronouncements through the filing date and believes that none of them will have a material effect on the Company.
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