XML 43 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (1,658,401)us-gaap_ProfitLoss $ (446,148)us-gaap_ProfitLoss
Adjustments to reconcile net loss from operations to net cash used in operating activities    
Amortization of debt financing costs 10,206us-gaap_AmortizationOfFinancingCostsAndDiscounts 3,968us-gaap_AmortizationOfFinancingCostsAndDiscounts
Accretion of asset retirement obligation 3,057us-gaap_ResultsOfOperationsAccretionOfAssetRetirementObligations 1,395us-gaap_ResultsOfOperationsAccretionOfAssetRetirementObligations
Depletion, depreciation, and amortization 75,199us-gaap_DepletionOfOilAndGasProperties 78,031us-gaap_DepletionOfOilAndGasProperties
Impairment of assets 5,496us-gaap_AssetImpairmentCharges 0us-gaap_AssetImpairmentCharges
Stock based compensation 38,027us-gaap_ShareBasedCompensation 0us-gaap_ShareBasedCompensation
Restricted stock in exchange for services 58,900vyey_RestrictedStockInExchangeForServices 0vyey_RestrictedStockInExchangeForServices
Change in operating assets and liabilities    
Accounts receivable 9,158us-gaap_IncreaseDecreaseInAccountsReceivable 35,872us-gaap_IncreaseDecreaseInAccountsReceivable
Accounts receivable - affiliates (689)us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties (3,900)us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties
Prepaid expense 7,529us-gaap_IncreaseDecreaseInPrepaidExpense (72,538)us-gaap_IncreaseDecreaseInPrepaidExpense
Accounts payable 41,108us-gaap_IncreaseDecreaseInAccountsPayable 16,656us-gaap_IncreaseDecreaseInAccountsPayable
Accrued liabilities 7,328us-gaap_IncreaseDecreaseInAccruedLiabilities (1,319)us-gaap_IncreaseDecreaseInAccruedLiabilities
Accrued liabilities – affiliates (200,777)vyey_IncreaseDecreaseInAccruedLiabilitiesrelatedParties (15,349)vyey_IncreaseDecreaseInAccruedLiabilitiesrelatedParties
Net cash used in operating activities (1,603,859)us-gaap_NetCashProvidedByUsedInOperatingActivities (403,332)us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES    
Drilling and completion costs (147,562)us-gaap_PaymentsToExploreAndDevelopOilAndGasProperties (461,970)us-gaap_PaymentsToExploreAndDevelopOilAndGasProperties
Renewal of leaseholds 0vyey_RenewalOfLeaseholds (22,577)vyey_RenewalOfLeaseholds
Net cash used in investing activities (147,562)us-gaap_NetCashProvidedByUsedInInvestingActivities (484,547)us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES    
Non-controlling interest contributions 1,925,000vyey_Relatedpartycontribution 320,000vyey_Relatedpartycontribution
Debt financing costs 0us-gaap_PaymentsOfDebtIssuanceCosts (122,469)us-gaap_PaymentsOfDebtIssuanceCosts
Proceeds from issuance of note payable 0us-gaap_ProceedsFromNotesPayable 868,000us-gaap_ProceedsFromNotesPayable
Net cash provided by financing activities 1,925,000us-gaap_NetCashProvidedByUsedInFinancingActivities 1,065,531us-gaap_NetCashProvidedByUsedInFinancingActivities
Net change in cash 173,579us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 177,652us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Beginning cash 2,941us-gaap_CashAndCashEquivalentsAtCarryingValue 20,858us-gaap_CashAndCashEquivalentsAtCarryingValue
Ending cash 176,520us-gaap_CashAndCashEquivalentsAtCarryingValue 198,510us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid:    
Interest 8,500us-gaap_InterestPaid 3,893us-gaap_InterestPaid
Non-cash investing and financing activities:    
Asset retirement obligation incurred 2,506us-gaap_AssetRetirementObligationLiabilitiesIncurred 3,955us-gaap_AssetRetirementObligationLiabilitiesIncurred
Accrued capital expenditures $ 1,022,359us-gaap_CapitalExpendituresIncurredButNotYetPaid $ 0us-gaap_CapitalExpendituresIncurredButNotYetPaid