NOTE 12. SUPPLEMENTAL INFORMATION RELATING TO OIL AND GAS PRODUCING ACTIVITIES (UNAUDITED) (Details) - Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows - USD ($) |
12 Months Ended | |
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Dec. 31, 2016 |
Dec. 31, 2015 |
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Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Abstract] | ||
Beginning of year | $ 6,220,500 | $ 6,303,880 |
Sales and transfers of oil & gas produced, net of production costs | 175,048 | 40,633 |
Net changes in prices and production costs | (1,917,506) | (3,346,089) |
Changes in estimated future development costs | (673,960) | 360,790 |
Acquisitions of minerals in place, net of production costs | 9,941,241 | 4,851,420 |
Revision of previous estimates | (544,877) | (1,477,073) |
Change in discount | 817,235 | 630,388 |
Change in production rate or other | (453,201) | (1,143,449) |
End of year | $ 13,564,480 | $ 6,220,500 |
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- References No definition available.
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of change in estimated future development costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase in standardized measure of discounted future net cash flow as a result of purchases of minerals in place. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of change in sales and transfer prices and in production (lifting) costs related to future production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of revisions of estimated quantity of oil and gas in proved reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of (increase) decrease in standardized measure of discounted future net cash flow as a result of sales and transfers of oil and gas produced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of changes from other sources. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of accretion of discount for the standardized measure of discounted future net cash flow related to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of discounted future accumulated cash inflow relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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