Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred income tax assets are as follows: 

	December 31, 2015			December 31, 2014
Net operating loss carry forward	$	6,966,642		$	6,037,022
Depreciation and accretion	7,222			3,209
Equity based expenses	1,920,230			1,912,720
Impairment losses on oil and gas properties	1,559,951			1,265,154
Deferred taxes	10,449,482			9,218,105
Valuation allowance	(10,449,482		)	(9,218,105		)
Net Deferred Income Tax Assets	$	—		$	—

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation of the effective income tax rate to the U.S. statutory rate is as follows:

	12/31/2015		12/31/2014
Net operating loss	34	%	34	%
Meals and entertainment	0.03	%	0.15	%
Debt discount accretion	0.04	%	0.10	%
Net operating loss reduction due to IRC 382	—		—	%
Change in valuation allowance	33.92	%	33.75	%
Effective income tax rate	—	%	—	%