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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 851,671 $ (838,386)
Adjustments to reconcile net income (loss) from operations to net cash used in operating activities    
Amortization of debt financing costs 14,174  
Accretion of asset retirement obligation 1,395 1,998
Gain from sale of oil and gas properties (2,159,592)   
Depletion, depreciation, and amortization 170,071 77,899
Stock based compensation 370,700 43,325
Warrants for services    16,500
Restricted stock in exchange for services 20,417   
Change in operating assets and liabilities    
Accounts receivable 77,510 17,234
Accounts receivable - affiliates (85,787) (22,500)
Prepaid expense 15,552 68,693
Accounts payable (154,732) 254,882
Accrued liabilities 201 (42,294)
Accrued interest    (25,639)
Accrued liabilities - affiliates 42,390 37,885
Net cash used in operating activities (836,030) (410,403)
CASH FLOWS FROM INVESTING ACTIVITIES    
Drilling and completion costs (772,801) (1,335,922)
Acquisition of oil and gas properties (2,491,888) (81,550)
Proceeds from the sale of assets 4,021,000   
Purchase of furniture and fixtures (3,710)   
Renewal of leaseholds (22,577)   
Sale-farm out of leaseholds    160,000
Net cash from (used in) in investing activities 730,024 (1,257,472)
CASH FLOWS FROM FINANCING ACTIVITIES    
Non-controlling interest contributions 890,000 1,869,000
Non-controlling interest distributions (257,901)   
Debt financing costs (122,469)   
Proceeds from debt financing 1,233,000   
Principal payments on debt financing (433,000)   
Net cash provided by financing activities 1,309,630 1,869,000
Net change in cash 1,203,624 201,125
Beginning cash 20,858 158,165
Ending cash $ 1,224,482 $ 359,290