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STATEMENTS OF CASH FLOWS (USD $)
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12 Months Ended | |
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Dec. 31, 2014
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Dec. 31, 2013
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| Cash Flows from Operating Activities | ||
| Net loss | $ (1,674,533)us-gaap_NetIncomeLoss | $ (894,506)us-gaap_NetIncomeLoss |
| Adjustment to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 165,943us-gaap_DepreciationDepletionAndAmortization | 93,740us-gaap_DepreciationDepletionAndAmortization |
| Accretion of debt discount | 86,124us-gaap_AmortizationOfDebtDiscountPremium | 32,551us-gaap_AmortizationOfDebtDiscountPremium |
| Loss on disposal of assets | 10,945us-gaap_GainLossOnDispositionOfAssets1 | 6,999us-gaap_GainLossOnDispositionOfAssets1 |
| Asset retirement obligation accretion | 1,872us-gaap_AssetRetirementObligationAccretionExpense | 8,592us-gaap_AssetRetirementObligationAccretionExpense |
| Stock-based compensation expense – employees | 700,303us-gaap_ShareBasedCompensation | 36,322us-gaap_ShareBasedCompensation |
| Stock-based compensation expense – consultants and directors | 447,000us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims | 0us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims |
| Changes in operating assets and liabilities | ||
| Accounts receivable | 32,300us-gaap_IncreaseDecreaseInAccountsReceivable | (53,667)us-gaap_IncreaseDecreaseInAccountsReceivable |
| Other assets | 12,879us-gaap_IncreaseDecreaseInOtherCurrentAssets | (5,455)us-gaap_IncreaseDecreaseInOtherCurrentAssets |
| Accounts payable | 48,485us-gaap_IncreaseDecreaseInAccountsPayable | 7,048us-gaap_IncreaseDecreaseInAccountsPayable |
| Accrued liabilities | (1,041)us-gaap_IncreaseDecreaseInAccruedLiabilities | (12,363)us-gaap_IncreaseDecreaseInAccruedLiabilities |
| Deferred rent | (4,172)us-gaap_IncreaseDecreaseInDeferredLiabilities | (2,898)us-gaap_IncreaseDecreaseInDeferredLiabilities |
| Net cash flows used in operating activities | (173,895)us-gaap_NetCashProvidedByUsedInOperatingActivities | (783,637)us-gaap_NetCashProvidedByUsedInOperatingActivities |
| Cash Flows from Investing Activities | ||
| Purchase property and equipment | (15,803)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (20,700)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Proceeds from sale of property and equipment | 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment | 24,500us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment |
| Capital expenditures on oil and gas properties | (675,426)us-gaap_PaymentsToExploreAndDevelopOilAndGasProperties | (376,995)us-gaap_PaymentsToExploreAndDevelopOilAndGasProperties |
| Cash flows used in investing activities | (691,229)us-gaap_NetCashProvidedByUsedInInvestingActivities | (373,195)us-gaap_NetCashProvidedByUsedInInvestingActivities |
| Cash Flows from Financing Activities | ||
| Borrowings on convertible debt - related parties | 0us-gaap_ProceedsFromRelatedPartyDebt | 550,000us-gaap_ProceedsFromRelatedPartyDebt |
| Proceeds from issuance of common stock | 780,024us-gaap_ProceedsFromIssuanceOfCommonStock | 0us-gaap_ProceedsFromIssuanceOfCommonStock |
| Purchase of treasury stock | 0us-gaap_PaymentsForRepurchaseOfEquity | (900)us-gaap_PaymentsForRepurchaseOfEquity |
| Net payments on notes payable | (12,374)us-gaap_ProceedsFromRepaymentsOfNotesPayable | (1,149)us-gaap_ProceedsFromRepaymentsOfNotesPayable |
| Cash flows provided by financing activities | 767,650us-gaap_NetCashProvidedByUsedInFinancingActivities | 547,951us-gaap_NetCashProvidedByUsedInFinancingActivities |
| Net change in cash and cash equivalents | (97,474)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (608,881)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Cash and cash equivalents | ||
| Beginning of period | 122,162us-gaap_CashAndCashEquivalentsAtCarryingValue | 731,043us-gaap_CashAndCashEquivalentsAtCarryingValue |
| End of period | 24,688us-gaap_CashAndCashEquivalentsAtCarryingValue | 122,162us-gaap_CashAndCashEquivalentsAtCarryingValue |
| SUPPLEMENTAL DISCLOSURES | ||
| Interest paid | 0us-gaap_InterestPaid | 0us-gaap_InterestPaid |
| Income taxes paid | 0us-gaap_IncomeTaxesPaid | 0us-gaap_IncomeTaxesPaid |
| NON-CASH INVESTING AND FINANCIAL DISCLOSURES | ||
| Truck transferred to former CEO | 41,636us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1 | 0us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1 |
| Initial recognition of discount on related party debt | 0us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature | 443,228us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature |
| Initial recognition of asset retirement obligations | 19,418us-gaap_AssetRetirementObligationLiabilitiesIncurred | 45,763us-gaap_AssetRetirementObligationLiabilitiesIncurred |
| Change in estimated cash flows from asset retirement obligation | 66,081us-gaap_AssetRetirementObligationPeriodIncreaseDecrease | (74,777)us-gaap_AssetRetirementObligationPeriodIncreaseDecrease |
| Fair value of stock issued for oil properties | 0us-gaap_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1 | 433,000us-gaap_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1 |
| Note payable for equipment | $ 57,613us-gaap_NotesIssued1 | $ 42,785us-gaap_NotesIssued1 |
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- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of asset retirement obligations incurred during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Increase or Decrease in the asset retirement obligation during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of a favorable spread to a debt holder between the amount of debt being converted and the value of the securities received upon conversion. This is an embedded conversion feature of convertible debt issued that is in-the-money at the commitment date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Change during the period in carrying value for all deferred liabilities due within one year or operating cycle. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in other current operating assets not separately disclosed in the statement of cash flows. No definition available.
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The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair value of share-based compensation granted to nonemployees as payment for services rendered or acknowledged claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of noncash consideration received for selling an asset or business through a noncash (or part noncash) transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The fair value of notes issued in noncash investing and financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The value of the noncash (or part noncash) consideration given (for example, liability, equity) in a transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of a transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow to reacquire common and preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow for exploration and development of oil and gas properties. It includes cash payments related to development of oil and gas wells drilled at previously untested geologic structures (to determine the presence of oil or gas) and wells drilled at sites where the presence of oil or gas has already been established (to extract the oil or gas). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow from a long-term borrowing made from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from Advances from Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from long-term debt supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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