Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016			December 31, 2015
Net operating loss carry forward	$	7,403,629		$	6,859,102
Depreciation and accretion	3,106			7,222
Equity based expenses	86,734			1,920,230
Impairment losses on oil and gas properties	—			1,559,951
Deferred taxes	7,493,469			10,346,505
Valuation allowance	(7,493,469		)	(10,346,505		)
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:

	12/31/2016		12/31/2015
Net operating loss	34	%	34	%
Meals and entertainment	1	%	15	%
Debt discount accretion	0.11	%	0.10	%
Net operating loss reduction due to IRC 382	—		—	%
Change in valuation allowance	33.89	%	33.75	%
Effective income tax rate	—	%	—	%