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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (4,905,518) $ (4,229,137)
Adjustments to reconcile net loss to net cash used in operating activities    
Accretion and revisions of asset retirement obligations 66,172 3,360
Amortization of debt discount and financing warrants 40,823 34,586
Depletion, depreciation, and amortization 570,337 430,912
Gain on settlement of asset retirement obligation (3,721) 0
Gain on settlement of asset retirement obligation 0 (2,170,725)
Gain from legal settlement agreement (637,248) 0
Impairment of oil and natural gas properties 867,048 3,721,042
Stock based compensation 567,112 490,174
Stock grants in exchange for services 169,210 81,667
Change in operating assets and liabilities    
Accounts receivable 3,875 74,977
Accounts receivable - affiliate (7,217) (105,796)
Prepaid expense 13,112 16,817
Accounts payable 876,507 131,213
Accounts liabilities - related parties 327,245 359,392
Accrued liabilities 313,410 24,296
Net cash used in operating activities (1,738,853) (1,137,222)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Drilling capital expenditures (1,058,704) (841,270)
Acquisition of oil and gas properties 0 (3,214,872)
Proceeds from sale of oil and gas properties 0 4,031,625
Renewal of leasehold costs 0 (22,577)
Purchase of furniture and fixtures 0 (3,710)
Net cash used in investing activities (1,058,704) (50,804)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Non-controlling interest contributions 2,917,000 1,140,000
Non-controlling interest distributions 0 (647,422)
Debt financing costs 0 (122,469)
Proceeds from debt financing 0 1,233,000
Principal payments on debt financing (120,000) (433,000)
Net cash provided by financing activities 2,797,000 1,170,109
Net Change in Cash and Cash Equivalents (557) (17,917)
Beginning Cash and Cash Equivalents 2,941 20,858
Ending Cash and Cash Equivalents 2,384 2,941
Cash paid for:    
Interest 40,053 30,595
Non-cash investing and financing activities:    
Asset retirement obligation 63,338 3,721
Accrued capital expenditures 293,304 0
Drilling costs 0 637,248
Acquisition of properties $ 0 $ 182,250