NOTE 10. SUPPLEMENTAL INFORMATION RELATING TO OIL AND GAS PRODUCING ACTIVITIES (UNAUDITED) (Details) - Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows (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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Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Abstract] | ||
Beginning of year | $ 4,440,757 | $ 0 |
Sales and transfers of oil & gas produced, net of production costs | (144,845) | (51,254) |
Net changes in prices and production costs | 808,717 | 0 |
Development costs incurred | 829,168 | 0 |
Changes in estimated future development costs | 316,612 | 0 |
Acquisitions of minerals in place, net of production costs | 1,183,256 | 4,492,011 |
Revision of previous estimates | (180,497) | 0 |
Change in discount | 444,076 | 0 |
Change in production rate or other | 269,306 | 0 |
End of year | $ 7,966,550 | $ 4,440,757 |
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- Details
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- Definition
Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of passage of time. 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 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 previously estimated development costs incurred. 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 standardized measure of discounted future net cash flow relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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