DISPOSAL GROUP HELD FOR SALE	9 Months Ended
Sep. 30, 2013
DISPOSAL GROUP HELD FOR SALE [Abstract]
DISPOSAL GROUP HELD FOR SALE	NOTE 4 - DISPOSAL GROUP HELD FOR SALE ------------------------------------- The Company, as part of an agreement dated September 7, 2012, incurred costs in the amount of $1,477,990 in acquiring certain oil and gas mineral interest, including five (5) producing wells, located in Weld county Colorado. The Company determined that these mineral interests were considered a Disposal Group Held for Sale as set forth in Topic 205 of the ASC and therefore, the Company at December 31, 2012 recorded the property as a current asset in the amount of $1,472,521 [net of $5,658 in amortization] on the balance sheet. Effective January 1, 2013, the Company sold these properties for $1,600,000 in cash and recorded in the statement of operations for the nine months ended September 30, 2013 a gain on the sale of assets in the amount of $127,478 under discontinued operations. In addition and as part of the sale, the purchasers of the property deposited with the Company $400,000 to be used towards the AFE costs in the drilling of future oil and gas wells. At September 30, 2013, the Company owes $400,000 including $209,520 due to a member of its Board of Directors.

NOTE 4 - DISPOSAL GROUP HELD FOR SALE

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The Company, as part of an agreement dated September 7, 2012, incurred costs in

the amount of $1,477,990 in acquiring certain oil and gas mineral interest,

including five (5) producing wells, located in Weld county Colorado. The Company

determined that these mineral interests were considered a Disposal Group Held

for Sale as set forth in Topic 205 of the ASC and therefore, the Company at

December 31, 2012 recorded the property as a current asset in the amount of

$1,472,521 [net of $5,658 in amortization] on the balance sheet. Effective

January 1, 2013, the Company sold these properties for $1,600,000 in cash and

recorded in the statement of operations for the nine months ended September 30,

2013 a gain on the sale of assets in the amount of $127,478 under discontinued

operations.

In addition and as part of the sale, the purchasers of the property deposited

with the Company $400,000 to be used towards the AFE costs in the drilling of

future oil and gas wells. At September 30, 2013, the Company owes $400,000

including $209,520 due to a member of its Board of Directors.