GOING CONCERN UNCERTAINTY	12 Months Ended
Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
GOING CONCERN UNCERTAINTY	NOTE 2. GOING CONCERN UNCERTAINTY Our audited consolidated financial statements for the year ended December 31, 2019 have been prepared on a going concern basis in accordance with generally accepted accounting principles in the United States. The going concern basis assumes that we will continue in operation for the next 12 months and will be able to realize our assets and discharge our liabilities and commitments in the normal course of business. Thus, our consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. Our recurring losses, negative cash flows from operating activities, stockholders’ deficit, need for additional financing and the uncertainties surrounding our ability to obtain such financing, raise substantial doubt about our ability to continue as a going concern. We anticipate negative cash flows from operating activities to continue for the foreseeable future due to, among other things, the significant uncertainty in the outlook for oil and natural gas development as a result of the recent significant decline in oil prices since the beginning of 2020 due in part to failed OPEC negotiations and to concerns about the COVID–19 coronavirus pandemic and its impact on the worldwide economy and global demand for oil. We were recently notified that contracts to acquire seismic data offshore West Africa, valued at approximately $42 million, were terminated by the operator presumably due to uncertainty on government restrictions on operations during the COVID–19 coronavirus pandemic. In addition, other scheduled and anticipated projects have been delayed and there is no assurance as to when they may resume, if at all. We are also unable to predict when industry market conditions may improve. Our senior loan facility matures in January 2021 and to date, we have been unable to negotiate an extension of the maturity date with our debt holders. If we are unable to extend or otherwise address the maturity date of the senior loan facility, we expect that we will be unable to repay the senior loan facility when due in January 2021. In addition, since February 2020, we have been engaged in discussions with the holders of the indebtedness outstanding under our credit facility, senior loan facility and 2023 Notes to extend the January 2021 maturity date of our senior loan facility. The COVID-19 coronavirus pandemic has delayed the determination by certain debt holders as to whether to extend the maturity date of our senior loan facility, as such debt holders require additional analysis and information to make that determination due to the circumstances related to the COVID-19 coronavirus pandemic. Our management continues to: (i) discuss with our debt holders an extension of the maturity date of the senior loan facility and waivers of the events of default due to the inclusion of an explanatory paragraph raising substantial doubt about our ability to continue as a going concern in the report of our independent registered public accounting firm on our financial statements included in this Annual Report on Form 10–K; (ii) seek to obtain additional financing through the issuance of debt or equity securities; and (iii) manage operating costs by actively pursuing cost cutting measures to maximize liquidity consistent with current industry market expectations. There is no assurance that we will be successful in extending the maturity date of the senior loan facility or obtaining additional financing on satisfactory terms or at all. In addition, there is no assurance that any such financing, if obtained, will be adequate to meet our needs and support our working capital needs. Based on the uncertainty of achieving these goals and the significance of the factors described, there is substantial doubt as to our ability to continue as a going concern for a period of 12 months after the date our consolidated financial statements included in this Annual Report on Form 10–K are issued. If we become unable to continue as a going concern, we may have to liquidate our assets, and potentially realize significantly less than the values at which they are carried on our financial statements, and the holders of our securities could lose all or part of their investment. Accordingly, our independent registered public accounting firm included an explanatory paragraph in their report accompanying our consolidated financial statements included in this Annual Report on Form 10-K.

GOING CONCERN UNCERTAINTY

12 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

NOTE 2. GOING CONCERN UNCERTAINTY

Our audited consolidated financial statements for the year ended December 31, 2019 have been prepared on a going concern basis in accordance with generally accepted accounting principles in the United States. The going concern basis assumes that we will continue in operation for the next 12 months and will be able to realize our assets and discharge our liabilities and commitments in the normal course of business. Thus, our consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

Our recurring losses, negative cash flows from operating activities, stockholders’ deficit, need for additional financing and the uncertainties surrounding our ability to obtain such financing, raise substantial doubt about our ability to continue as a going concern. We anticipate negative cash flows from operating activities to continue for the foreseeable future due to, among other things, the significant uncertainty in the outlook for oil and natural gas development as a result of the recent significant decline in oil prices since the beginning of 2020 due in part to failed OPEC negotiations and to concerns about the COVID–19 coronavirus pandemic and its impact on the worldwide economy and global demand for oil. We were recently notified that contracts to acquire seismic data offshore West Africa, valued at approximately $42 million, were terminated by the operator presumably due to uncertainty on government restrictions on operations during the COVID–19 coronavirus pandemic. In addition, other scheduled and anticipated projects have been delayed and there is no assurance as to when they may resume, if at all. We are also unable to predict when industry market conditions may improve. Our senior loan facility matures in January 2021 and to date, we have been unable to negotiate an extension of the maturity date with our debt holders. If we are unable to extend or otherwise address the maturity date of the senior loan facility, we expect that we will be unable to repay the senior loan facility when due in January 2021.

In addition, since February 2020, we have been engaged in discussions with the holders of the indebtedness outstanding under our credit facility, senior loan facility and 2023 Notes to extend the January 2021 maturity date of our senior loan facility. The COVID-19 coronavirus pandemic has delayed the determination by certain debt holders as to whether to extend the maturity date of our senior loan facility, as such debt holders require additional analysis and information to make that determination due to the circumstances related to the COVID-19 coronavirus pandemic.

Our management continues to: (i) discuss with our debt holders an extension of the maturity date of the senior loan facility and waivers of the events of default due to the inclusion of an explanatory paragraph raising substantial doubt about our ability to continue as a going concern in the report of our independent registered public accounting firm on our financial statements included in this Annual Report on Form 10–K; (ii) seek to obtain additional financing through the issuance of debt or equity securities; and (iii) manage operating costs by actively pursuing cost cutting measures to maximize liquidity consistent with current industry market expectations. There is no assurance that we will be successful in extending the maturity date of the senior loan facility or obtaining additional financing on satisfactory terms or at all. In addition, there is no assurance that any such financing, if obtained, will be adequate to meet our needs and support our working capital needs.

Based on the uncertainty of achieving these goals and the significance of the factors described, there is substantial doubt as to our ability to continue as a going concern for a period of 12 months after the date our consolidated financial statements included in this Annual Report on Form 10–K are issued. If we become unable to continue as a going concern, we may have to liquidate our assets, and potentially realize significantly less than the values at which they are carried on our financial statements, and the holders of our securities could lose all or part of their investment. Accordingly, our independent registered public accounting firm included an explanatory paragraph in their report accompanying our consolidated financial statements included in this Annual Report on Form 10-K.