XML 28 R2.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
Jun. 30, 2011
Dec. 31, 2010
Statement of Financial Position [Abstract]    
Cash and cash equivalents $ 578,768 $ 414
Accounts receivable 1,500 318,744
Accounts receivable oil and gas - related party 28,183  
Deferred financing cost, net 3,708  
Prepaid expenses 5,534  
Total current assets 617,693 319,158
PROPERTY AND EQUIPMENT    
Costs subject to amortization 250,000  
Costs not subject to amortization 3,201,552 3,084,144
Pipeline transmission properties 100,000  
Less accumulated depreciation and depletion (104,271)  
Total property and equipment, net 3,447,281 3,084,144
TOTAL ASSETS 4,064,974 3,403,302
CURRENT LIABILITIES    
Accounts payable - trade 243,475 147,737
Accrued expenses 607,868 78,432
Accrued expenses - related parties 62,975  
Short-term debt 1,726,578 50,000
Short-term debt - related parties 958,577 779,500
Current maturities of long-term debt 227,131  
Convertible debentures, net of debt discount of $32,007 and $0, respectively 512,993  
Total current liabilities 4,339,597 1,055,669
LONG-TERM LIABILITIES    
Derivative liability 241,416  
Asset retirement obligation 63,311 63,000
TOTAL LIABILITIES 4,644,324 1,118,669
Commitments and contingencies    
Preferred stock, undesignated, 10,000,000 shares authorized, none issued and outstanding    
Common stock, $0.001 par value; 75,000,000 shares authorized; 22,994,229 and -0- shares issued and outstanding, respectively 22,994  
Members' equity   848,158
Additional paid-in-capital 4,303,083  
Accumulated deficit (6,404,837)  
Total Eagle Ford Oil & Gas Corp. shareholders' and members' equity (deficit) (2,078,760) 848,158
Noncontrolling interest 1,499,410 1,436,475
Total shareholders' and members' equity (deficit) (579,350) 2,284,633
TOTAL LIABILITIES AND SHAREHOLDERS' AND MEMBERS' EQUITY $ 4,064,974 $ 3,403,302