SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION(Tables)

12 Months Ended

Dec. 31, 2017

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION

Schedule of potentially antidilutive securities excluded from computation of earnings per share

	December 31,	December 31,
	2017	2016
Exercisable stock options	4,347,500	3,010,000
Warrants issued to underwriter	255,600	255,600
Warrants issued to convertible note holders	6,666,600	1,294,987
Warrants issued to placement agent - convertible note offering	666,600	129,526
Shares underlying convertible notes	6,372,066	1,295,067
Total	18,308,366	5,985,180

Schedule of concentration of credit risk and major customers

	For the Years Ended December 31,
	2017		2016
Great Western Operating Company	22	%	43	%
Kerr-McGee Oil and Gas Onshore	4	%	23	%
Ward Petroleum	2	%	20	%
DCP Midstream	1	%	11	%
PDC Energy, Inc.	71	%	0	%