Acquisitions	3 Months Ended
Mar. 31, 2015
Business Combinations [Abstract]
Acquisitions	Acquisitions Planned Business Combination As previously disclosed in the Company's Form 8-K filed on February 4, 2015, Victory Energy Corporation entered into a letter of intent ("LOI") relating to a proposed business combination with Lucas Energy, Inc. ("Lucas"). The business combination was contingent on, among other things, the parties completing due diligence, including title due diligence, the mutual negotiation of definitive documents, regulatory approvals and the registration of the securities to be issued to the shareholders of the combined company resulting from the Combination (the “Combined Company”). On February 26, 2015, Victory entered into (a) the Pre-Merger Collaboration Agreement (the “Collaboration Agreement”) by and between Victory, Lucas, Navitus and AEP Assets, LLC, a wholly-owned subsidiary of Aurora (“AEP”); and (b) the Pre-Merger Loan and Funding Agreement (the “Loan Agreement”) between Victory and Lucas . Subsequently the parties entered into Amendment No. 1 to the Pre-Merger Collaboration Agreement on March 3, 2015 , which amendments affected thereby are included in the discussion of the Collaboration Agreement below. On March 2, 2015, payments of $195,928 and $317,027 were made by Aurora , on behalf of the Victory, to Earthstone Energy/Oak Valley Resources and Penn Virginia, respectively, pursuant to the Pre-Merger Collaboration Agreement for costs related to the two Earthstone Energy/Oak Valley Resources and the five Penn Valley operated Eagle Ford wells, respectively. The Initial Draw, and any other amounts borrowed under the Loan Agreement are evidenced by a Secured Subordinated Delayed Draw Term Note issued by Lucas in favor of Victory, which is in an initial amount of $250,000 (the “Draw Note”). Borrowings evidenced by the Draw Note accrue interest at 0.5% per annum, with accrued interest payable in one lump sum on maturity. The maturity date of the Draw Note is February 26, 2016 and Lucas has the right to pre-pay any amounts owed under the Draw Note at any time with ten days prior written notice to the Victory. Upon the occurrence of an event of default (as described in the Draw Note), the interest rate increases by 5% per annum, Victory can declare the entire outstanding balance of the Draw Note immediately due and payable, and can further take actions to enforce its security interests in the Pledged Shares Pursuant to the above, a total of $350,000 was paid to Lucas through March 31, 2015 and is recorded to notes receivable. Through May 27, 2015, a total of $600,000 was paid to Lucas under the Draw Note. As previously disclosed in the Company's Form 8-K filed on May 11, 2015, the Company terminated its previously disclosed non-binding letter of intent (the “LOI”) with Lucas pursuant to its terms, which permitted either the Company or Lucas to terminate the LOI by written notification to the other party. As previously disclosed, the LOI contemplated the combination of the businesses of the Company and Lucas by way of a merger (the “Proposed Business Combination”). The Company also notified Lucas pursuant to the Loan Agreement between the Company and Lucas dated February 26, 2015, as well as the related promissory note, and that it will not extend any further credit to Lucas under the Loan Agreement. The Company and Lucas are currently negotiating a mutual settlement. Merger related direct costs, as well as cost related to reserving amounts receivable on advances made under the Collaboration Agreement total approximately $957,000 and included in General and Administrative expense for the three months ended March 31, 2015. Additional costs to be incurred with concluding the merger termination in the next quarter, including the additional $250,000 of working capital advanced to Lucas from April 1, 2015 through May 11, 2015. Due to the financial condition of Lucas, this note receivable balance of $250,000 has been fully reserved as a bad debt and charged to general administrative expenses as a cost of terminated merger. Pursuant to the aforementioned merger termination, the payment of $195,928 made by Aurora, on behalf of the Victory, to Earthstone Energy/Oak Valley Resources for costs related to the two Earthstone Energy/Oak Valley Resources operated Eagle Ford wells was reclassified to the costs of terminated merger in the Company’s general and administrative expenses as the operator has refused to refund this amount. Pursuant to the aforementioned merger termination, the Company has recorded a Promissory Note in the amount of $250,000 payable to Louise H. Rogers, Lucas’ senior lender in conjunction with the Collaboration Agreement, which accrues interest at the rate of 18% per annum. The Promissory Note is due and payable prior to August 15, 2015 in accordance with the Pre-Merger Collaboration Agreement. In connection with the issuance of the Promissory Note, Louise H. Rogers had released the Well Rights from its security interest in order to accommodate the transactions contemplated by the Collaboration Agreement and Loan Agreement as of February 27, 2015. The Company and Lucas are currently negotiating a mutual settlement. On May 15, 2015, the Company filed the related press release of the same day announcing the above noted merger termination.

Acquisitions

Planned Business Combination

As previously disclosed in the Company's Form 8-K filed on February 4, 2015, Victory Energy Corporation entered into a letter of intent ("LOI") relating to a proposed business combination with Lucas Energy, Inc. ("Lucas"). The business combination was contingent on, among other things, the parties completing due diligence, including title due diligence, the mutual negotiation of definitive documents, regulatory approvals and the registration of the securities to be issued to the shareholders of the combined company resulting from the Combination (the “Combined Company”).

On February 26, 2015, Victory entered into (a) the Pre-Merger Collaboration Agreement (the “Collaboration Agreement”) by and between Victory, Lucas, Navitus and AEP Assets, LLC, a wholly-owned subsidiary of Aurora (“AEP”); and (b) the Pre-Merger Loan and Funding Agreement (the “Loan Agreement”) between Victory and Lucas . Subsequently the parties entered into Amendment No. 1 to the Pre-Merger Collaboration Agreement on March 3, 2015 , which amendments affected thereby are included in the discussion of the Collaboration Agreement below.

On March 2, 2015, payments of $195,928 and $317,027 were made by Aurora , on behalf of the Victory, to Earthstone Energy/Oak Valley Resources and Penn Virginia, respectively, pursuant to the Pre-Merger Collaboration Agreement for costs related to the two Earthstone Energy/Oak Valley Resources and the five Penn Valley operated Eagle Ford wells, respectively.

The Initial Draw, and any other amounts borrowed under the Loan Agreement are evidenced by a Secured Subordinated Delayed Draw Term Note issued by Lucas in favor of Victory, which is in an initial amount of $250,000 (the “Draw Note”). Borrowings evidenced by the Draw Note accrue interest at 0.5% per annum, with accrued interest payable in one lump sum on maturity. The maturity date of the Draw Note is February 26, 2016 and Lucas has the right to pre-pay any amounts owed under the Draw Note at any time with ten days prior written notice to the Victory. Upon the occurrence of an event of default (as described in the Draw Note), the interest rate increases by 5% per annum, Victory can declare the entire outstanding balance of the Draw Note immediately due and payable, and can further take actions to enforce its security interests in the Pledged Shares Pursuant to the above, a total of $350,000 was paid to Lucas through March 31, 2015 and is recorded to notes receivable. Through May 27, 2015, a total of $600,000 was paid to Lucas under the Draw Note.

As previously disclosed in the Company's Form 8-K filed on May 11, 2015, the Company terminated its previously disclosed non-binding letter of intent (the “LOI”) with Lucas pursuant to its terms, which permitted either the Company or Lucas to terminate the LOI by written notification to the other party. As previously disclosed, the LOI contemplated the combination of the businesses of the Company and Lucas by way of a merger (the “Proposed Business Combination”). The Company also notified Lucas pursuant to the Loan Agreement between the Company and Lucas dated February 26, 2015, as well as the related promissory note, and that it will not extend any further credit to Lucas under the Loan Agreement. The Company and Lucas are currently negotiating a mutual settlement. Merger related direct costs, as well as cost related to reserving amounts receivable on advances made under the Collaboration Agreement total approximately $957,000 and included in General and Administrative expense for the three months ended March 31, 2015. Additional costs to be incurred with concluding the merger termination in the next quarter, including the additional $250,000 of working capital advanced to Lucas from April 1, 2015 through May 11, 2015. Due to the financial condition of Lucas, this note receivable balance of $250,000 has been fully reserved as a bad debt and charged to general administrative expenses as a cost of terminated merger.

Pursuant to the aforementioned merger termination, the payment of $195,928 made by Aurora, on behalf of the Victory, to Earthstone Energy/Oak Valley Resources for costs related to the two Earthstone Energy/Oak Valley Resources operated Eagle Ford wells was reclassified to the costs of terminated merger in the Company’s general and administrative expenses as the operator has refused to refund this amount.

Pursuant to the aforementioned merger termination, the Company has recorded a Promissory Note in the amount of $250,000 payable to Louise H. Rogers, Lucas’ senior lender in conjunction with the Collaboration Agreement, which accrues interest at the rate of 18% per annum. The Promissory Note is due and payable prior to August 15, 2015 in accordance with the Pre-Merger Collaboration Agreement. In connection with the issuance of the Promissory Note, Louise H. Rogers had released the Well Rights from its security interest in order to accommodate the transactions contemplated by the Collaboration Agreement and Loan Agreement as of February 27, 2015. The Company and Lucas are currently negotiating a mutual settlement. On May 15, 2015, the Company filed the related press release of the same day announcing the above noted merger termination.