2.4.0.8203 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES (Policy)truefalsefalse1false falsefalsefrom-2012-10-01-to-2013-06-30.174.0.0.0.0.0.0.0http://www.sec.gov/CIK0001502152duration2012-10-01T00:00:002013-06-30T00:00:001true 1us-gaap_AccountingPoliciesAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES [Abstract]2false 2us-gaap_BasisOfAccountingus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div style="WIDTH: 720px"> Interim Financial Statements These financial statements are prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States ("GAAP") and the rules of the Securities and Exchange Commission ("SEC"), and should be read in conjunction with the audited financial statements for the period ended September 30, 2012 and notes thereto contained in the Company's Annual Report filed with the SEC on Form 10-K/A-1 on February 7, 2013. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year ended September 30, 2012 have been omitted. </div> </div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for the basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).No definition available.false0Interim Financial Statements3false 2us-gaap_UseOfEstimatesus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div style="WIDTH: 720px"> Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. </div> </div>falsefalsefalsenonnum:textBlockItemTypenaDisclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6143-108592 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6132-108592 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6061-108592 false0Use of Estimates4false 2us-gaap_ConsolidationPolicyTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div style="WIDTH: 720px"> Consolidated Financial Statements The consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiaries, First Titan Energy, LLC and First Titan Technical, LLC, from the date of their formation. Significant intercompany transactions have been eliminated in consolidation. </div> </div>falsefalsefalsenonnum:textBlockItemTypenaDisclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02, 03 -Article 3A Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2197480 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 40 -Section 45 -URI http://asc.fasb.org/section&trid=2197723 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196966 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2197087 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.3A-02) -URI http://asc.fasb.org/extlink&oid=27015204&loc=d3e355033-122828 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=16385135&loc=d3e33801-111570 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph k -Article 1 false0Consolidated Financial Statements5false 2us-gaap_CashAndCashEquivalentsPolicyTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div style="WIDTH: 720px"> Cash and Cash Equivalents All cash, other than held in escrow, is maintained with a major financial institution in the United States. Deposits with this bank may exceed the amount of insurance provided on such deposits. Temporary cash investments with an original maturity of six months or less are considered to be cash equivalents. There were no cash equivalents as of June 30, 2013 and September 30, 2012. </div> </div>falsefalsefalsenonnum:textBlockItemTypenaDisclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 305 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2122427 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4273-108586 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Financial Reporting Release (FRR) -Number 203 -Paragraph 02-03 false0Cash and Cash Equivalents6false 2us-gaap_OilAndGasPropertiesPolicyPolicyTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div style="WIDTH: 720px"> Oil and Gas Properties The Company follows the full cost method of accounting for its oil and gas properties, whereby all costs incurred in connection with the acquisition, exploration for and development of petroleum and natural gas reserves are capitalized. Such costs include lease acquisition, geological and geophysical activities, rentals on non-producing leases, drilling, completing and equipping of oil and gas wells and administrative costs directly attributable to those activities and asset retirement costs. Disposition of oil and gas properties are accounted for as a reduction of capitalized costs, with no gain or loss recognized unless such adjustment would significantly alter the relationship between capital costs and proved reserves of oil, in which case the gain or loss is recognized in the statement of operations. Depletion of capitalized oil and gas properties and estimated future development costs, excluding unproved properties, are based on the units-of-production method based on proved reserves. There was no depletion recognized during the year ended September 31, 2012, because there was no production during this period. The company recognized $7,206 of depletion during the nine months ended June 30, 2013. Net capitalized costs of oil and gas properties, less related deferred taxes, are limited to the lower of unamortized cost or the cost ceiling, defined as the sum of the present value of estimated future net revenues from proved reserves based on unescalated prices discounted at 10 percent, plus the cost of properties not being amortized, if any, plus the lower of cost or estimated fair value of unproved properties included in the costs being amortized, if any, less related income taxes. As of June 30, 2013, the Company has oil and gas properties in the amount of $235,575 which are being excluded from amortization because they have not been evaluated to determine whether proved reserves are associated with those properties. Costs in excess of the present value of estimated future net revenues as discussed above are charged to impairment expense. The Company applies the full cost ceiling test on a quarterly basis on the date of the latest balance sheet presented. Based on management's review, 100% of the unproved oil and gas properties balance as of June 30, 2013 is expected to be added to amortization during the year ending September 30, 2013. The table below sets forth the cost of unproved properties excluded from the amortization base as of June 30, 2013 and notes the year in which the associated costs were incurred: <table style="FONT-SIZE: 10pt; MARGIN-TOP: 0px" cellspacing="0" cellpadding="0" align="center"> <tr style="FONT-SIZE: 1pt"> <td width="131"> </td> <td width="18"> </td> <td width="19"> </td> <td width="58"> </td> <td width="19"> </td> <td width="20"> </td> <td width="56"> </td> <td width="19"> </td> <td width="17"> </td> <td width="58"> </td> <td width="19"> </td> <td width="17"> </td> <td width="60"> </td> <td width="11"> </td> </tr> <tr> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="131">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="18">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="365" colspan="11"> Year of Acquisition </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="11">   </td> </tr> <tr> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="131">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="18">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="77" colspan="2"> 2011 </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="19">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="77" colspan="2"> 2012 </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="19">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="75" colspan="2"> 2013 </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="19">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="77" colspan="2"> Total </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="11">   </td> </tr> <tr> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="131"> Acquisition costs </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="18">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="19"> $ </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="58"> - </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="19">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="20"> $ </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="56"> 153,264 </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="19">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="17"> $ </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="58"> 82,311 </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="19">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="17"> $ </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="60"> 235,575 </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="11">   </td> </tr> <tr> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="131"> Development costs </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="18">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="19">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="58"> - </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="19">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="20">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="56"> - </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="19">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="17">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="58"> - </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="19">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="17">   </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="60"> - </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="11">   </td> </tr> <tr> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="131"> Exploration costs </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="18">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="19">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="58"> - </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="19">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="20">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="56"> - </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="19">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="17">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="58"> - </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="19">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="17">   </td> <td style="BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="60"> - </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ccecff" valign="bottom" width="11">   </td> </tr> <tr> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="131"> Total </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="18">   </td> <td style="BORDER-BOTTOM: #000000 3px double; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="19"> $ </td> <td style="BORDER-BOTTOM: #000000 3px double; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="58"> - </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="19">   </td> <td style="BORDER-BOTTOM: #000000 3px double; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="20"> $ </td> <td style="BORDER-BOTTOM: #000000 3px double; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="56"> 153,264 </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="19">   </td> <td style="BORDER-BOTTOM: #000000 3px double; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="17"> $ </td> <td style="BORDER-BOTTOM: #000000 3px double; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="58"> 82,311 </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="19">   </td> <td style="BORDER-BOTTOM: #000000 3px double; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="17"> $ </td> <td style="BORDER-BOTTOM: #000000 3px double; MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="60"> 235,575 </td> <td style="MARGIN-TOP: 0px; BACKGROUND-COLOR: #ffffff" valign="bottom" width="11">   </td> </tr> </table> Asset retirement costs are recognized when the asset is placed in service, and are included in the amortization base and amortized over proved reserves using the units of production method. Asset retirement costs are estimated by management using existing regulatory requirements and anticipated future inflation rates. </div> </div>falsefalsefalsenonnum:textBlockItemTypenaDisclosure of accounting policy for oil and gas property which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 false0Oil and Gas Properties7false 2us-gaap_EarningsPerSharePolicyTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div style="WIDTH: 720px"> Earnings (Loss) per Share The basic earnings (loss) per share are calculated by dividing the Company's net income available to common shareholders by the weighted average number of common shares outstanding during the year. The diluted earnings (loss) per share are calculated by dividing the Company's net income (loss) available to common Shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as of the first of the year for any potentially dilutive debt or equity. There are no diluted shares outstanding for any periods reported. </div> </div>falsefalsefalsenonnum:textBlockItemTypenaDisclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2144384 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 false0Earnings (Loss) Per Share8false 2us-gaap_RevenueRecognitionPolicyTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div style="WIDTH: 720px"> Revenue and Cost Recognition Sales of crude oil are recognized when the delivery to the purchaser has occurred and title has been transferred. This occurs when oil has been delivered to a pipeline or a tank lifting has occurred. Crude oil is priced on the delivery date based upon prevailing prices published by purchasers with certain adjustments related to oil quality and physical location. The Company began receiving revenue effective October 1, 2012. </div> </div>falsefalsefalsenonnum:textBlockItemTypenaDisclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18726-107790 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 13 -Section B -Paragraph Question 1 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 13.B.Q1) -URI http://asc.fasb.org/extlink&oid=27012821&loc=d3e214044-122780 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18823-107790 false0Revenue and Cost Recognition9false 2us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div style="WIDTH: 720px"> Recently Issued Accounting Pronouncements In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to: <table style="FONT-SIZE: 10pt; MARGIN-TOP: 0px" cellspacing="0" cellpadding="0"> <tr style="FONT-SIZE: 1pt"> <td width="48"> </td> <td width="672"> </td> </tr> <tr> <td style="MARGIN-TOP: 0px" valign="top" width="48"> · </td> <td style="MARGIN-TOP: 0px" valign="top" width="672"> Present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and </td> </tr> <tr> <td style="MARGIN-TOP: 0px" valign="top" width="48">   </td> <td style="MARGIN-TOP: 0px" valign="top" width="672">   </td> </tr> <tr> <td style="MARGIN-TOP: 0px" valign="top" width="48"> · </td> <td style="MARGIN-TOP: 0px" valign="top" width="672"> Cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension-related amounts) instead of directly to income or expense. </td> </tr> </table> The amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013-02 is not expected to have a material impact on our financial position or results of operations. In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies which instruments and transactions are subject to the offsetting disclosure requirements originally established by ASU 2011-11. The new ASU addresses preparer concerns that the scope of the disclosure requirements under ASU 2011-11 was overly broad and imposed unintended costs that were not commensurate with estimated benefits to financial statement users. In choosing to narrow the scope of the offsetting disclosures, the Board determined that it could make them more operable and cost effective for preparers while still giving financial statement users sufficient information to analyze the most significant presentation differences between financial statements prepared in accordance with U.S. GAAP and those prepared under IFRSs. Like ASU 2011-11, the amendments in this update will be effective for fiscal periods beginning on, or after January 1, 2013. The adoption of ASU 2013-01 is not expected to have a material impact on our financial position or results of operations. In October 2012, the FASB issued Accounting Standards Update ASU 2012-04, "Technical Corrections and Improvements" in Accounting Standards Update No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on our financial position or results of operations. In August 2012, the FASB issued ASU 2012-03, "Technical Amendments and Corrections to SEC Sections: Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin (SAB) No. 114, Technical Amendments Pursuant to SEC Release No. 33-9250, and Corrections Related to FASB Accounting Standards Update 2010-22 (SEC Update)" in Accounting Standards Update No. 2012-03. This update amends various SEC paragraphs pursuant to the issuance of SAB No. 114. The adoption of ASU 2012-03 is not expected to have a material impact on our financial position or results of operations. In July 2012, the FASB issued ASU 2012-02, "Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment" in Accounting Standards Update No. 2012-02. This update amends ASU 2011-08, Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment and permits an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with Subtopic 350-30, Intangibles - Goodwill and Other - General Intangibles Other than Goodwill. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted, including for annual and interim impairment tests performed as of a date before July 27, 2012, if a public entity's financial statements for the most recent annual or interim period have not yet been issued or, for nonpublic entities, have not yet been made available for issuance. The adoption of ASU 2012-02 has not had a material impact on our financial position or results of operations. In December 2011, the FASB issued ASU 2011-12, "Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05. This update defers the requirement to present items that are reclassified from accumulated other comprehensive income to net income in both the statement of income where net income is presented and the statement where other comprehensive income is presented. The adoption of ASU 2011-12 has not had a material impact on our financial position or results of operations. In December 2011, the FASB issued ASU No. 2011-11 "Balance Sheet: Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). This Update requires an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. The objective of this disclosure is to facilitate comparison between those entities that prepare their financial statements on the basis of U.S. GAAP and those entities that prepare their financial statements on the basis of IFRS. The amended guidance is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The Company is currently evaluating the impact, if any, that the adoption of this pronouncement may have on its results of operations or financial position. </div> </div>falsefalsefalsenonnum:textBlockItemTypenaDisclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. 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