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NOTE 10. SUPPLEMENTAL INFORMATION RELATING TO OIL AND GAS PRODUCING ACTIVITIES (UNAUDITED) (Details) - Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure (USD $)
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12 Months Ended | |
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Dec. 31, 2013
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Dec. 31, 2012
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| Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure [Abstract] | ||
| Future cash inflows | $ 21,168,740 | $ 20,863,274 |
| Future production costs | (7,050,170) | (13,343,179) |
| Future development costs | (2,060,100) | (2,400,000) |
| Future income taxes | 0 | 0 |
| Future net cash flows | 12,058,470 | 5,120,095 |
| Discount of future net cash flows at 10% per annum | (4,091,920) | (679,338) |
| Standardized measure of discounted future net cash flows | $ 7,966,550 | $ 4,440,757 |
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- Details
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- Definition
This is the amount that is derived from using a discount rate of ten percent a year to reflect the timing of the future net cash flows relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of estimated future cash inflows from sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of estimated future cost to be incurred in developing proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of estimated future income tax expense to be incurred based on the future income less future expense derived from production and sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of estimated net future cash inflows, after subtracting future development and production costs and future income tax expenses, from sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of estimated future cost to be incurred in producing proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This amount is the future net cash flows less the computed discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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