Annual report pursuant to section 13 and 15(d)

NOTE 9. INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities

v2.4.0.8
NOTE 9. INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities (USD $)
Dec. 31, 2013
Dec. 31, 2012
Gross Values [Member]
    
NOTE 9. INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities [Line Items]    
Book Impairment $ 0 $ 0
Net operating loss carryforwards 3,417,844 2,303,816
Asset retirement obligation 0 0
Other 6,000 6,000
Total deferred tax assets 3,423,844 2,309,816
O&G Properties (1,280,525) (1,029,050)
O&G Properties 1,280,525 1,029,050
Other 0 0
Other 0 0
Total deferred tax liabilities (1,280,525) (1,029,050)
Total deferred tax liabilities 1,280,525 1,029,050
Less: Valuation allowance (2,143,319) (1,280,766)
Less: Valuation allowance 2,143,319 1,280,766
Net deferred tax assets (liabilities) 0 0
Tax Effect [Member]
    
NOTE 9. INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities [Line Items]    
Book Impairment 0 0
Net operating loss carryforwards 1,196,245 806,336
Asset retirement obligation 0 0
Other 2,100 2,100
Total deferred tax assets 1,198,345 808,436
O&G Properties 448,184 360,168
O&G Properties (448,184) (360,168)
Other 0 0
Other 0 0
Total deferred tax liabilities 448,184 360,168
Total deferred tax liabilities (448,184) (360,168)
Less: Valuation allowance 750,161 448,268
Less: Valuation allowance (750,161) (448,268)
Net deferred tax assets (liabilities) $ 0 $ 0