Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Reconciliation of the ARO Liability

The following table is a reconciliation of the ARO liability for the twelve months ended December 31, 2016 and 2015.

	Years Ended December 31,
	2016			2015
Asset retirement obligation at beginning of period	$	109,171		$	44,214
Liabilities incurred	—			2,506
Revisions to previous estimates and sales of properties	—			60,832
Liabilities on properties sold or settled	(27,850		)	(3,721		)
Accretion expense	2,670			$	5,340
Asset retirement obligation at end of period	$	83,991		$	109,171

Schedule of Common Stock and Common Stock Equivalents

The following table outlines outstanding common stock shares and common stock equivalents.

	Years Ended December 31,
	2016	2015
Common Stock Shares Outstanding	31,220,326	31,220,326
Common Stock Equivalents Outstanding
Warrants	11,392,386	8,622,486
Stock Options	1,055,000	1,430,000
Unconverted Class B Shares	137,932	137,932
Total Common Stock Equivalents Outstanding	12,585,318	10,190,418