Annual report pursuant to Section 13 and 15(d)

NOTE 11. INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities

v3.7.0.1
NOTE 11. INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Gross Values [Member]    
NOTE 11. INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities [Line Items]    
Book impairment $ 668,073 $ 668,073
Net operating loss carryforwards 7,120,879 5,911,319
Asset retirement obligation 0 0
Other 0 0
Total deferred tax assets 7,788,952 6,579,392
Deferred tax liabilities    
O&G Properties (6,496,717) (2,211,892)
Other 0 0
Total deferred tax liabilities (6,496,717) (2,211,892)
Less: Valuation allowance (1,292,235) (4,367,500)
Net deferred tax assets (liabilities) 0 0
Tax Effect [Member]    
NOTE 11. INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities [Line Items]    
Book impairment 233,825 233,826
Net operating loss carryforwards 2,492,308 2,068,962
Asset retirement obligation 0 0
Other 0 0
Total deferred tax assets 2,726,133 2,302,788
Deferred tax liabilities    
O&G Properties (2,273,851) (774,162)
Other 0 0
Total deferred tax liabilities (2,273,851) (774,162)
Less: Valuation allowance (452,282) (1,528,626)
Net deferred tax assets (liabilities) $ 0 $ 0