Petro River Oil (PTRC) 10-Q 21 Mar 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jan. 31, 2016	Mar. 21, 2016
Document And Entity Information
Entity Registrant Name	Petro River Oil Corp.
Entity Central Index Key	1,172,298
Document Type	10-Q
Document Period End Date	Jan. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--04-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		4,263,671
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jan. 31, 2016	Apr. 30, 2015
Current Assets:
Cash and cash equivalents	$ 1,324,288	$ 1,010,543
Certificate of deposit - restricted	125,000	125,000
Accounts receivable - oil and gas	8,044	$ 42,688
Accounts receivable - related party	5,980,339
Accrued interest on notes receivable - related party	44,095
Real estate - held for sale	3,282,292
Prepaid expenses and other current assets	45,964	$ 52,771
Prepaid oil and gas development costs	735,798
Total Current Assets	11,545,820	$ 1,231,002
Oil and gas assets, full cost method
Costs subject to amortization, net	690,420	6,935,000
Costs not being amortized, net	100,000	8,822,011
Property, plant and equipment, net of accumulated depreciation of $308,032 and $313,508, respectively	2,532	60,953
Intangible assets, net of accumulated amortization of $110,632 and $20,293, respectively	2,113,054	$ 2,203,393
Notes receivable - related party	16,348,000
Other assets	28,132	$ 27,922
Total Assets	30,827,958	19,280,281
Current Liabilities:
Accounts payable and accrued expenses	137,028	$ 252,227
Accrued income tax liability	1,330,755
Deposits on real estate sales	363,750
Notes payable - related party	1,500,000
Asset retirement obligations, current portion	541,959	$ 541,959
Total Current Liabilities	3,873,492	794,186
Long-term liabilities:
Asset retirement obligations	216,964	376,471
Total Long-term Liabilities	216,964	376,471
Total Liabilities	$ 4,090,456	$ 1,170,657
Commitments and contingencies
Equity:
Preferred shares
Common shares - 100,000,000 authorized; par value $0.00001; 4,263,671 and 4,259,505 issued and outstanding	$ 43	$ 43
Additional paid-in capital	38,749,173	31,115,291
Accumulated deficit	(24,268,505)	(16,650,486)
Total Petro River Oil Corp. Equity	14,480,711	14,464,848
Non-controlling interest	12,256,791	3,644,776
Total Equity	26,737,502	18,109,624
Total Liabilities and Equity	$ 30,827,958	$ 19,280,281
Preferred B Shares [Member]
Equity:
Preferred shares

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jan. 31, 2016	Apr. 30, 2015
Accumulated depreciation of Property, plant and equipment	$ 308,032	$ 313,508
Accumulated amortization	$ 110,632	$ 20,293
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares issued	4,263,671	4,259,505
Common stock, shares outstanding	4,263,671	4,259,505
Preferred B Shares [Member]
Preferred stock, shares authorized	29,500	29,500
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Revenues
Oil and natural gas sales	$ 9,882	$ 488,273	$ 72,723	$ 1,912,034
Sales of real estate	5,354,413		23,701,524
Total Revenues	5,364,295	$ 488,273	23,774,247	$ 1,912,034
Operating Expenses
Cost of revenue - sales of real estate	2,976,652		13,463,025
Lease operating expenses	68,469	$ 832,458	328,457	$ 1,619,955
Depreciation, depletion and accretion	43,468	$ 168,001	149,218	$ 568,834
Amortization of intangibles	$ 30,113		90,339
Gain on sale of equipment			(5,519)
Loss on sale of oil and gas assets	$ 7,519,460		7,519,460
Impairment of oil and gas assets	6,870,613		6,870,613
General and administrative	505,629	$ 806,283	2,483,990	$ 3,858,315
Total Operating Expenses	18,014,404	1,806,742	30,899,583	6,047,104
Operating Loss	(12,650,109)	(1,318,469)	(7,125,336)	(4,135,070)
Other income	45,937	(459)	46,719	(426)
Net Loss Before Income Tax Provision	(12,604,172)	$ (1,318,928)	(7,078,617)	$ (4,135,496)
Income Tax Provision	1,330,755		1,330,755
Net Loss	(13,934,927)	$ (1,318,928)	(8,409,372)	$ (4,135,496)
Net Loss Attributable to Non-controlling Interest	(3,833,483)	(264,289)	(791,353)	(611,320)
Net Loss Attributable to Petro River Oil Corp. and Subsidiaries	$ (10,101,444)	$ (1,054,639)	$ (7,618,019)	$ (3,524,176)
Basic and Diluted Net Loss Per Common Share	$ (2.37)	$ (0.26)	$ (1.79)	$ (0.86)
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	4,259,777	4,092,839	4,259,687	4,092,839

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (8,409,372)	$ (4,135,496)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation, depletion and accretion	149,218	568,834
Amortization of intangibles	90,339	0
Stock-based compensation	1,492,868	$ 902,329
Non-cash cost of real estate properties sold	2,262,090
Impairment of oil and gas assets	6,870,613
Loss on sale of oil and gas assets	7,519,460
Gain on sale of equipment	(5,519)
Changes in operating assets and liabilities:
Accounts receivable - oil and gas	34,644
Accounts receivable - related party	(5,980,339)	$ (82,872)
Accrued interest on notes receivable- related party	(44,095)
Prepaid expenses and other current assets	6,807	(30,076)
Accounts payable and accrued expenses	(115,200)	$ (192,158)
Accrued income tax liability	1,330,755
Deposit for real estate sales	363,750
Net Cash Provided by (Used in) Operating Activities	$ 15,566,019	$ (2,969,439)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase on certificate of deposit - restricted		$ (125,000)
Prepaid oil and gas development costs	$ (735,798)
Capitalized expenditures on oil and gas assets	(7,279)	$ (8,674,744)
Cash received upon disposal of oil and gas assets	279,013
Issuance of notes receivable - related party	(16,348,000)
Proceeds from sale of equipment	$ 60,000
Purchase of equipment		$ (39,756)
Payments on deposits	$ (210)	(11,123)
Net Cash Used in Investing Activities	(16,752,274)	$ (8,850,623)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable - related party	$ 1,500,000
Cash payments of note payable		$ (31,500)
Cash received from non-controlling interest contribution		5,000,000
Net Cash Provided by Financing Activities	$ 1,500,000	4,968,500
Change in cash and cash equivalents	313,745	(6,851,562)
Cash and cash equivalents, beginning of period	1,010,543	8,352,949
Cash and cash equivalents, end of period	1,324,288	1,501,387
Cash paid during the period for:
Income taxes	$ 14,482	7,975
Interest paid		$ 308
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Real estate contributed by non-controlling interest	$ 15,544,382
Acquisition of oil and gas assets for accrued liabilities		$ 52,514
Issuance of note payable for purchase of fixed assets		$ 31,500

Organization

Organization	9 Months Ended
	Jan. 31, 2016
Organization And Liquidity
Organization	Petro River Oil Corp (the “ Company In light of the challenging oil price environment and capital markets, management is focusing on specific target acquisitions and investments, limiting operating expenses and exploring farm-in and joint venture opportunities for the Company’s oil and gas assets. No assurances can be given that management will be successful. Recent Developments Reverse Stock Split. Effective Date Reverse Split As a result of the Reverse Split, all historical share amounts disclosed in this prospectus have been retrospectively recast to reflect the share exchange. No fractional shares were issued, with fractional shares of common stock were rounded up to the nearest whole share. Megawest Transaction. Contribution Agreement Fortis Megawest Shares Megawest Transaction Upon execution of the Contribution Agreement, (i) the Company transferred its 50% membership interest in Bandolier Energy, LLC (the “ Bandolier Interest Redetermination

Basis of Preparation

Basis of Preparation	9 Months Ended
	Jan. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Preparation	The consolidated financial statements and accompanying footnotes are prepared in accordance with U.S. GAAP and include the accounts of the Company and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. Non–controlling interest represents the minority equity investment in the Company’s subsidiaries, plus the minority investors’ share of the net operating results and other components of equity relating to the non–controlling interest. These consolidated financial statements include the Company and the following subsidiaries: Petro Spring, LLC, PO1, LLC, Petro River UK Limited and MegaWest Energy USA Corp. and MegaWest Energy USA Corp.’s wholly owned subsidiaries: MegaWest Energy Texas Corp. MegaWest Energy Kentucky Corp. MegaWest Energy Missouri Corp. MegaWest Energy Montana Corp. Also contained in the consolidated financial statements is the financial information of the Company’s 58.51% owned subsidiary, MegaWest, which pursuant to the Megawest Transaction includes the Company’s contribution of its 50% interest in Bandolier Energy LLC, as described in Note 4.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	The unaudited consolidated financial information furnished herein reflects all adjustments, consisting solely of normal recurring items, which in the opinion of management are necessary to fairly state the financial position of the Company and the results of its operations for the periods presented. This report should be read in conjunction with the Company’s consolidated financial statements and notes thereto included in the Company’s Form 10-K for the year ended April 30, 2015 filed with the Securities and Exchange Commission (the “ SEC (a) Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s financial statements are based on a number of significant estimates, including oil and natural gas reserve quantities which are the basis for the calculation of depreciation, depletion and impairment of oil and natural gas properties, and timing and costs associated with its asset retirement obligations, as well as those related to the fair value of stock options, stock warrants and stock issued for services. While we believe that our estimates and assumptions used in preparation of the financial statements are appropriate, actual results could differ from those estimates. (b) Receivables: Pursuant to FASB ASC paragraph 310-10-35-47 receivables that management has the intent and ability to hold for the foreseeable future shall be reported in the balance sheet at outstanding principal adjusted for any charge-offs and the allowance for doubtful accounts. The Company follows FASB ASC paragraphs 310-10-35-7 through 310-10-35-10 to estimate the allowance for doubtful accounts. Pursuant to FASB ASC paragraph 310-10-35-9, losses from uncollectible receivables shall be accrued when both of the following conditions are met: (a) Information available before the financial statements are issued or are available to be issued (as discussed in Section 855-10-25) indicates that it is probable that an asset has been impaired at the date of the financial statements, and (b) The amount of the loss can be reasonably estimated. These conditions may be considered in relation to individual receivables or in relation to groups of similar types of receivables. If the conditions are met, an accrual shall be made even though the particular receivables that are uncollectible may not be identifiable. The Company reviews individually each receivable for collectability and performs on-going credit evaluations of its customers and adjusts credit limits based upon payment history and the customer’s current credit worthiness, as determined by the review of their current credit information; and determines the allowance for doubtful accounts based on historical write-off experience, customer specific facts and general economic conditions that may affect a client’s ability to pay. Bad debt expense is included in general and administrative expenses, if any. Pursuant to FASB ASC paragraph 310-10-35-41 Credit losses for receivables (uncollectible receivables), which may be for all or part of a particular receivable, shall be deducted from the allowance. The related receivable balance shall be charged off in the period in which the receivables are deemed uncollectible. Recoveries of receivables previously charged off shall be recorded when received. The Company charges off its account receivables against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The allowance for doubtful accounts at January 31, 2016 and April 30, 2015 was $0 and $0, respectively. (c) Real Estate – Held for Sale: Real estate for which the Company commits to a plan to sell within one year and actively markets in its current condition for a reasonable price in comparison to its estimated fair value is classified as held-for-sale. Real estate held-for-sale is stated at the lower of depreciated cost or estimated fair value less expected disposition costs and is not depreciated. (d) Per Share Amounts: Basic net income (loss) per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. For the three and nine months ended January 31, 2015, potentially dilutive securities were not included in the calculation of diluted net loss per share because to do so would be anti-dilutive. For the three and nine months ended January 31, 2016, the dilutive effect of stock options and warrants was 0 because all options and warrants outstanding were out of money. The Company had the following common stock equivalents at January 31, 2016 and 2015: January 31, 2016 January 31, 2015 Stock Options 710,019 544,691 Stock Purchase Warrants 336,458 203,125 Total 1,046,477 747,816 (e) Income Taxes: Income Tax Provision The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date. The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“ Section 740-10-25 The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying consolidated balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its consolidated balance sheets and provides valuation allowances as management deems necessary. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In addition, the Company operates within multiple taxing jurisdictions and is subject to audit in these jurisdictions. In management’s opinion, adequate provisions for income taxes have been made for all years. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary. During the three and nine months ended January 31, 2016, the Company recorded an accrued income tax liability of $1,330,755. Uncertain Tax Positions The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the provisions of Section 740-10-25 for the reporting period ended January 31, 2016 or 2015. (f) Recent Accounting Pronouncements: The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on its financial position, results of operations, or cash flows. (g) Subsequent Events: The Company has evaluated all transactions through the date the consolidated financial statements were issued for subsequent event disclosure consideration.

Business Acquisitions

Business Acquisitions	9 Months Ended
	Jan. 31, 2016
Business Combinations [Abstract]
Business Acquisitions	Acquisition of Interest in Bandolier Energy LLC . Bandolier Bandolier Acquisition PWIG Ranger Station Option The Company has operational control along with a 50% ownership interest in Bandolier. As a result, the Company consolidates Bandolier. The remaining 50% non–controlling interest represents the equity investment from PWIG and Ranger Station. On May 30, 2014, Bandolier acquired for $8,712,893, less a $407,161 claw back, all of the issued and outstanding equity of Spyglass Energy Group, LLC (“ Spyglass The Company recorded the purchase of Spyglass using the acquisition method of accounting as specified in ASC 805 “Business Combinations.” The Company consolidated Bandolier as of May 30, 2014, and the results of operations of the Company include that of Bandolier from June 1, 2014. The following table summarizes, on an unaudited pro forma basis, the results of operations of the Company as though the acquisition had occurred as of May 1, 2014. The pro forma amounts presented are not necessarily indicative of either the actual operation results had the acquisition transaction occurred as of May 1, 2014. For the Three Months Ended For the Nine Months Ended January 31, 2015 January 31, 2015 Revenues $ 488,273 $ 2,697,446 Net loss $ (1,318,469 ) $ (3,560,883 ) Net loss per common share - Basic and diluted $ (0.32 ) $ (0.87 ) Weighted average number of common shares outstanding - Basic and diluted 4,092,839 4,092,839 Acquisition of Horizon Investments. Purchase Agreement Closing Date Horizon Note Closing Proceeds Purchased Assets The Escrow Proceeds are being held in a third party escrow account under the terms of an Escrow Agreement, dated November 17, 2015 (" Escrow Agreement Horizon Energy is an oil and gas exploration and development company owned and managed by former senior oil and gas executives. It has a portfolio of domestic and international assets, including two assets located in the United Kingdom, adjacent to the giant Wytch Farm oil field, the largest onshore oil field in Western Europe. Other projects include the proposed redevelopment of a large oil field in Kern County, California and the development of an additional recent discovery in Kern County.

Accounts Receivable - Related P

Accounts Receivable - Related Party	9 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Accounts Receivable - Related Party	As discussed in Note 1, on October 15, 2015, the Company entered into the Contribution Agreement with Megawest and Fortis pursuant to which the Company and Fortis each agreed to assign certain assets to Megawest in exchange for the Megawest Shares. Upon execution of the Contribution Agreement, (i) the Company transferred its 50% membership interest in Bandolier with a net book value of $7,119,798, and cancelled all of its ownership interest in the then issued and outstanding Megawest Shares, and (ii) Fortis transferred certain indirect interests held in 30 condominium units and the rights to any profits and proceeds therefrom, with a book value of $15,544,382, to Megawest. Immediately thereafter, Megawest issued to the Company 58,510 Megawest Shares, representing a 58.51% equity interest in Megawest, as consideration for the assignment of the Bandolier Interest, and issued to Fortis 41,490 Megawest Shares, representing a 41.49% equity interest in Megawest, as consideration for the condominiums assigned to Megawest by Fortis. As of January 31, 2016, the Company recorded an accounts receivable – related party in the amount of $5,616,589, which was due from Fortis for the sale of condominiums, see Note 7. The Company also recorded an accounts receivable – related party in the amount of $363,750 for deposits received on the sale of additional units that was being held in escrow and an offsetting liability of $363,750 for the deposits received. These funds were received by Megawest subsequent to January 31, 2016. These funds are held currently by Megawest and controlled by the board of directors of Megawest, consisting of two members appointed by Fortis, and one by the Company.

Notes Receivable - Related Part

Notes Receivable - Related Party	9 Months Ended
	Jan. 31, 2016
Notes Receivable - Related Party
Notes Receivable - Related Party	During November and December 2015, the Company entered into five promissory note agreements with Fortis. With total principal amounts of $16,438,000. The notes receivable bear interest at an annual rate of 3% and mature on December 31, 2017. As of January 31, 2016, the outstanding balance of the notes receivable was $16,348,000.

Real Estate Held for Sale

Real Estate Held for Sale	9 Months Ended
	Jan. 31, 2016
Notes to Financial Statements
Real Estate Held for Sale	As discussed in Note 5, the Company acquired an interest in 30 condominium units pursuant to the Megawest Transaction. Between October 15, 2015 and January 31, 2016, the Company sold 24 condominium units with a book value of $12,262,090 for gross proceeds of $23,701,524. The Company incurred commissions and closing costs of $1,200,935 for the 24 units sold. As of January 31, 2016, proceeds from the sale of several units was received by Fortis, but only a portion had been transferred to the Company as of January 31, 2016. See Note 5. The following table summarizes the activity for real estate held for sale: January 31, 2016 Balance at April 30, 2015 $ - Additions - 30 condominium units contributed by Fortis 15,544,382 Cost of sales - 24 condominium units (12,262,090 ) Balance at January 31, 2016 $ 3,282,292 The Company reviewed the accounting standards, Real Estate - General (ASC 970-10) and Property, Plant, and Equipment (ASC 360-10), to determine the appropriate classification for this property. According to ASC 970-10, real estate that is held for sale in the ordinary course of business is classified as inventory, which is a current asset. ASC 360-10 provides the following criteria for property to be classified as held for sale: • Management with the appropriate authority commits to a plan to sell the asset; • The asset is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets; • An active program to locate a buyer and other actions required to complete the plan of sale have been initiated; • The sale of the property or asset within one year is probable and will qualify for accounting purposes as a sale; • The asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and • Actions required to complete the plan of sale indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. The Company had sales of units during the period and has reviewed the recent interest for remaining units. Based on the review, the Company believes that the sale of the remaining units within one year is probable. The Company concluded that all of these criteria have been met for these properties and that they are appropriately classified as held for sale in current assets.

Oil and Gas Assets

Oil and Gas Assets	9 Months Ended
	Jan. 31, 2016
Extractive Industries [Abstract]
Oil and Gas Assets	The following table summarizes the oil and gas assets by project: Cost Oklahoma Kansas Missouri Other Total Balance as of April 30, 2015 $ 6,935,000 $ 7,803,020 $ 918,991 $ 100,000 $ 15,757,011 Additions 7,279 - - - 7,279 Disposals (279,013 ) (7,727,287 ) - - (8,006,300 ) Depreciation, depletion and amortization (21,224 ) (75,733 ) - - (96,957 ) Impairment (5,951,622 ) (918,991 ) (6,870,613 ) Balance as of January 31, 2016 $ 690,420 $ - $ - $ 100,000 $ 790,420 Divestiture of Kansas Properties. On December 23, 2015, Petro River Oil, LLC (“ Petro Acquisition of Interest in Larne Basin. Larne Licenses Larne Transaction Escrow Agreement Divestiture of Oklahoma Properties. Impairment of Oil & Gas Properties.

Intangible Assets

Intangible Assets	9 Months Ended
	Jan. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Acquisition of Havelide and Coalthane Assets. Petro Spring I Havelide Purchase Agreement Havelide Coalthane Havelide Assets Coalthane Assets The Company’s intangible assets are held by Petro Spring, a wholly owned technology focused subsidiary of the Company. It was launched with an intentionally broad mandate to acquire and commercialize cutting edge technologies with the intent to capitalize on the significant technological experience of its leadership team and network of industry relationships within the energy sector. The Company’s intangibles assets consisted of the following: Estimated useful life As of January 31, 2016 As of April 30, 2015 Patent rights 15 years $ 2,223,686 $ 2,223,686 Less: accumulated amortization (110,632 ) (20,293 ) Intangible assets, net $ 2,113,054 $ 2,203,393 The Company recorded amortization expense of $30,113 and $0 for the three months ended January 31, 2016 and 2015, respectively, and recorded amortization expense of $90,339 and $0 for the nine months ended January 31, 2016 and 2015, respectively. As of April 30, 2015 and January 31, 2016, the Company performed an impairment assessment on the intangible assets and no impairment was noted. The following table outlines estimated future annual amortization expense for the next five years and thereafter: April 30, 2016 (remainder of year) $ 29,367 2017 119,469 2018 119,469 2019 119,469 2020 119,469 Thereafter 1,605,811 $ 2,113,054

Asset Retirement Obligations

Asset Retirement Obligations	9 Months Ended
	Jan. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	The total future asset retirement obligation was estimated based on the Company’s ownership interest in all wells and facilities, the estimated legal obligations required to retire, dismantle, abandon and reclaim the wells and facilities and the estimated timing of such payments. The Company estimated the present value of its asset retirement obligations at both January 31, 2016 and April 30, 2015, based on a future undiscounted liability of $895,292 and $1,143,857, respectively. These costs are expected to be incurred within one to 24 years. A credit-adjusted risk-free discount rate of 10% and an inflation rate of 2% were used to calculate the present value. Changes to the asset retirement obligation were as follows: Nine Months Ended 2016 Period from 2015 Balance, beginning of period $ 918,430 $ 818,010 Additions - 52,514 Disposals (207,827 ) - Accretion 48,320 47,906 Total asset retirement obligations 758,923 918,430 Less: current portion of asset retirement obligations (541,959 ) (541,959 ) Long-term portion of asset retirement obligations $ 216,964 $ 376,471 Expected timing of asset retirement obligations: Year Ending April 30, 2016 (remainder of year) 541,959 2017 20,000 2018 - 2019 - 2020 - Thereafter 393,353 Subtotal 955,312 Effect of discount (196,389 ) Total $ 758,923 As of January 31, 2016 and April 30, 2015, the Company has $0 of reclamation deposits with authorities to secure certain abandonment liabilities.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Jan. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	On October 30, 2015, Mr. Stephen Brunner joined the Company as President. Mr. Brunner has been tasked with making oil and gas related decisions and execute the Company’s growth strategy. Under the terms of the contract, Mr. Brunner will receive a base salary of $5,000 per month from January 2016 until March 2016, which amount will increase to $10,000 per month thereafter. Mr. Brunner was also granted 53,244 stock options, which represents 1.25% of the Company’s outstanding common stock as of January 31, 2016, subject to vesting schedules, aligning his interests strongly with shareholders. He also has the right to purchase an additional 1.75% of the Company’s common stock subject to shareholder approval on the increase of the current stock option plan and achieving pre-defined target objectives. The Company computed the fair value of the grant as of the date of grant utilizing a Black-Scholes option-pricing model using the following assumptions: common share value based on the fair value of the Company’s common stock as quoted on the Over the Counter Bulletin Board, $1.78; exercise price of $2.00; expected volatility of 171%; and a discount rate of 2.16%. The grant date fair value of the award was $89,525. For the three and nine months ended January 31, 2016, the Company expensed $6,101 and $24,006, respectively, to general and administrative expenses. On December 1, 2015, the Company issued a non-recourse promissory note, in the principal amount of $750,000 to Horizon Investments ( “Note A” On December 7, 2015, the Company entered into the Horizon Transaction, pursuant to which the Company executed a purchase agreement to acquire Horizon Investments in an all-stock deal, see Note 4. Mr. Scot Cohen, the Company’s Executive Chairman, is the sole Manager of Horizon Investments. In addition, Mr. Cohen owns a 9.2% membership interest in Horizon Investments. Horizon Investments owns a 20% interest in Horizon Energy Partners. Mr. Cohen owns a 2.8% membership interest in Horizon Energy Partners. On January 13, 2016, the Company issued a second non-recourse promissory note in the principal amount of $750,000 (" Note B

Equity

Equity	9 Months Ended
	Jan. 31, 2016
Stockholders' Equity Note [Abstract]
Equity	As of January 31, 2016 and April 30, 2015, the Company had 5,000,000 shares of blank check preferred stock authorized with a par value of $0.00001 per share. None of the blank check preferred shares were issued or outstanding. As of January 31, 2016 and April 30, 2015, the Company had 29,500 shares of Series B Preferred Stock authorized with a par value of $0.00001 per share (“ Series B Preferred As of January 31, 2016 and April 30, 2015, the Company had 100,000,000 shares of common stock authorized with a par value of $0.00001 per share. There were 4,263,671 and 4,259,505 shares of common stock issued and outstanding as of January 31, 2016 and April 30, 2015, respectively. On January 19, 2016, the Company granted 25,000 shares of the Company’s restricted common stock for certain consulting services, vesting over six months. During the three and nine months ended January 31, 2016, the Company issued 4,166 shares of this restricted stock and recognized stock-based compensation of $6,875. In February 2016, the Company cancelled the related consulting agreement and the remaining 20,834 shares of the Company’s restricted common stock.

Stock Options

Stock Options	9 Months Ended
	Jan. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options	The following table summarizes information about the options changes of options for the period from April 30, 2015 to January 31, 2016 and options outstanding and exercisable at January 31, 2016: Options Weighted Average Exercise Prices Outstanding April 30, 2015 540,941 $ 12.00 Exercisable – April 30, 2015 158,241 $ Granted 564,706 $ 2.15 Exercised - $ - Forfeited/Cancelled (395,629 ) $ 11.72 Outstanding – January 31, 2016 710,019 $ 4.00 Exercisable – January 31, 2016 398,823 $ 3.50 Outstanding – Aggregate Intrinsic Value $ - Exercisable – Aggregate Intrinsic Value $ - On October 23, 2015, the Company restructured its option plan by cancelling 395,629 options and issuing 453,039 options to new and existing option holders pursuant to the Amended and Restated 2012 Equity Compensation Plan. In December 2015, the Company issued an additional 111,667 to consultants. For options issued during the nine months ended January 31, 2016, the Company computed the fair value of the grant as of the date of grant utilizing a Black-Scholes option-pricing model using the following assumptions: common share value based on the fair value of the Company’s common stock as quoted on the Over the Counter Bulletin Board, range of $2.00 to $12.00; exercise price range of $2.00 to $12.00; expected volatility range of 170% to 179%; and a discount rate range of 1.94% to 2.29%. The following table summarizes information about the options outstanding and exercisable at January 31, 2016: Options Outstanding Options Exercisable Exercise Price Options Weighted Avg. Life Remaining Weighted Avg. Exercise Price Options Weighted Avg. Exercise Price $ 44.00 2,326 0.01 years $ 44.00 2,326 $ 44.00 $ 12.00 132,987 7.93 years $ 12.00 54,654 $ 12.00 $ 6.00 10,000 9.00 years $ 6.00 10,000 $ 6.00 $ 2.00 483,039 9.25 years $ 2.00 320,037 $ 2.00 $ 3.00 81,667 9.91 years $ 2.00 6,806 $ 3.00 710,019 393,823 Aggregate Intrinsic Value $ - $ - During the three months ended January 31, 2016 and 2015, the Company expensed $311,993 and $841,052 to general and administrative expense for stock-based compensation pursuant to employment and consulting agreements. During the nine months ended January 31, 2016 and 2015, the Company expensed approximately $1,485,993 and $902,329 to general and administrative expense for stock-based compensation pursuant to employment and consulting agreements. As of January 31, 2016, the Company has approximately $65,519 in unrecognized stock-based compensation expense, which will be amortized over a weighted average exercise period of 4 years. Warrants: Number of Warrants Weighted Average Exercise Price Weighted Average Life Remaining Outstanding and exercisable – April 30, 2015 336,458 $ 36.00 2.29 Forfeited - - Granted - - Outstanding and exercisable – January 31, 2016 336,458 $ 36.00 1.53 There were no changes of the Company’s warrants during the nine months ended January 31, 2016. The aggregate intrinsic value of the outstanding warrants was $0.

Non-Controlling Interest

Non-Controlling Interest	9 Months Ended
	Jan. 31, 2016
Noncontrolling Interest [Abstract]
Non-Controlling Interest	For the nine months ended January 31, 2016, the changes in the Company’s non–controlling interest was as follows: Bandolier Fortis Total Non–controlling interest at April 30, 2015 $ 3,644,776 $ - $ 3,644,776 Contribution of real estate by non-controlling interest holders - 9,403,368 9,403,368 Non–controlling interest share of income (losses) (3,184,304 ) 2,392,951 (791,353 ) Non–controlling interest at January 31, 2016 $ 460,472 $ 11,796,319 $ 12,256,791

Segment Information

Segment Information	9 Months Ended
	Jan. 31, 2016
Segment Reporting [Abstract]
Segment Information	The Company evaluates performance of its operating segments based on revenue and operating profit (loss). Segment information for the three and nine months ended January 31, 2016 and 2015 and as of January 31, 2016, and April 30, 2015, are as follows: Oil and Gas Real Estate Total Three months ended January 31, 2016 Revenue $ 9,882 $ 5,354,413 $ 5,364,295 Cost of revenue – – – Gross margin 9,882 5,354,413 5,364,295 Operating expenses (15,037,752 ) (2,976,652 ) (18,014,404 ) Operating profit (loss) $ (15,027,870 ) $ 2,377,761 $ (12,650,109 ) Three months ended January 31, 2015 Revenue $ 488,273 $ – $ 488,273 Cost of revenue – – – Gross margin 488,273 – 488,273 Operating expenses (1,806,742 ) – (1,806,742 ) Operating loss $ (1,318,469 ) $ – $ (1,318,469 ) Nine months ended January 31, 2016 Revenue $ 72,723 $ 23,701,524 $ 23,774,247 Cost of revenue – – – Gross margin 72,723 23,701,524 23,774,247 Operating expenses (17,436,558 ) (13,463,025 ) (30,899,583 ) Operating profit (loss) $ (17,363,835 ) $ 10,238,499 $ (7,125,336 ) Nine months ended January 31, 2015 Revenue $ 1,912,034 $ – $ 1,912,034 Cost of revenue – – – Gross margin 1,912,034 – 1,912,034 Operating expenses (6,047,104 ) – (6,047,104 ) Operating loss $ (4,135,070 ) $ – $ (4,135,070 ) January 31, 2016 Cash and cash equivalents (excludes $125,000 of restricted cash) $ 634,310 $ 689,978 $ 1,324,288 Investment in real estate $ – $ 3,282,292 $ 3,282,292 Oil and gas assets, net $ 790,420 $ – $ 790,420 Intangible assets, net $ 2,113,054 $ – $ 2,113,054 April 30, 2015 Cash and cash equivalents (excludes $125,000 of restricted cash) $ 1,010,543 $ – $ 1,010,543 Investment in real estate $ – $ – $ – Oil and gas assets, net $ 15,757,011 $ – $ 15,757,011 Intangible assets, net $ 2,203,393 $ – $ 2,203,393

Contingency and Contractual Obl

Contingency and Contractual Obligations	9 Months Ended
	Jan. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingency and Contractual Obligations	(a) In January 2010, the Company experienced a flood in its Calgary office premises as a result of a broken water pipe. There was significant damage to the premises rendering them unusable until the landlord had completed remediation. Pursuant to the lease contract, the Company asserted that rent should be abated during the remediation process and accordingly, the Company did not pay any rent after December 2009. During the remediation process, the Company engaged an independent environmental testing company to test for air quality and for the existence of other potentially hazardous conditions. The testing revealed the existence of potentially hazardous mold and the consultant provided specific written instructions for the effective remediation of the premises. During the remediation process, the landlord did not follow the consultant’s instructions and correct the potentially hazardous mold situation and subsequently in June 2010 gave notice and declared the premises to be ready for occupancy. The Company re-engaged the consultant to re-test the premises and the testing results again revealed the presence of potentially hazardous mold. The Company determined that the premises were not fit for re-occupancy and considered the landlord to be in default of the lease and the lease terminated. On January 30, 2014, the landlord filed a Statement of Claim against the Company for rental arrears in the amount aggregating approximately CAD $759,000 (approximately USD $536,500 as of January 31, 2016). On October 20, 2014, the Company filed a summary judgment application stating that the landlord’s claim is barred as it was commenced outside the 2-year statute of limitation period under the Alberta Limitations Act. The landlord subsequently filed a cross-application to amend its Statement of Claim to add a claim for loss of prospective rent in an amount of approximately CAD $665,000 (approximately USD $475,700 as of January 31, 2016). The applications were heard on June 25, 2015. The court reserved its decision and there is no specific timeline by which it must render a ruling as of the date of this filing. (b) In September 2013, the Company was notified by the Railroad Commission of Texas (the “ Commission (c) On August 11, 2014, Martha Donelson and John Friend amended their complaint in an existing lawsuit by filing a class action complaint styled: Martha Donelson and John Friend, et al. v. United States of America, Department of the Interior, Bureau of Indian Affairs and Devon Energy Production, LP, et al., Proceeding BIA NEPA ab initio On October 7, 2014, Spyglass, along with other defendants, filed a motion to dismiss the August 11, 2014 Proceeding on various procedural and legal arguments. Plaintiffs filed their response to the motion to dismiss on October 27, 2014. Spyglass filed its reply brief on November 10, 2014 and the plaintiffs were granted leave until November 19, 2014 to file a reply to Spyglass’ reply brief. Once the briefing cycle concluded on November 19, 2014, the motion to dismiss became ripe for determination by the court. Oral arguments may be ordered by the court. As of the date of this filing, there is no specific timeline by which the court must render a ruling. (d) Mega West Energy Missouri Corp. (“ Megawest Missouri James Long and Jodeane Long v. Mega West Energy Missouri and Petro River Oil Corp. Mega West Energy Missouri Corp. v. James Long, Jodeane Long, and Arrow Mines LLC . (e) The Company is from time to time involved in legal proceedings in the ordinary course of business. The Company does not believe that any of these claims and proceedings against it is likely to have, individually or in the aggregate, a material adverse effect on its financial condition or results of operations.

Subsequent Events

Subsequent Events	9 Months Ended
	Jan. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Kern County Project. Closing Date Project Business Acquisitions Under the terms of the agreement, the Company paid $83,333 to the sellers on the Closing Date, and is obligated to pay certain other costs and expenses after the Closing Date related to existing and new leases. In addition, the sellers are entitled to an overriding royalty interest in certain existing and new leases acquired after the Closing Date.

Significant Accounting Polici23

Significant Accounting Policies (Policies)	9 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s financial statements are based on a number of significant estimates, including oil and natural gas reserve quantities which are the basis for the calculation of depreciation, depletion and impairment of oil and natural gas properties, and timing and costs associated with its asset retirement obligations, as well as those related to the fair value of stock options, stock warrants and stock issued for services. While we believe that our estimates and assumptions used in preparation of the financial statements are appropriate, actual results could differ from those estimates.
Receivables	Pursuant to FASB ASC paragraph 310-10-35-47 receivables that management has the intent and ability to hold for the foreseeable future shall be reported in the balance sheet at outstanding principal adjusted for any charge-offs and the allowance for doubtful accounts. The Company follows FASB ASC paragraphs 310-10-35-7 through 310-10-35-10 to estimate the allowance for doubtful accounts. Pursuant to FASB ASC paragraph 310-10-35-9, losses from uncollectible receivables shall be accrued when both of the following conditions are met: (a) Information available before the financial statements are issued or are available to be issued (as discussed in Section 855-10-25) indicates that it is probable that an asset has been impaired at the date of the financial statements, and (b) The amount of the loss can be reasonably estimated. These conditions may be considered in relation to individual receivables or in relation to groups of similar types of receivables. If the conditions are met, an accrual shall be made even though the particular receivables that are uncollectible may not be identifiable. The Company reviews individually each receivable for collectability and performs on-going credit evaluations of its customers and adjusts credit limits based upon payment history and the customer’s current credit worthiness, as determined by the review of their current credit information; and determines the allowance for doubtful accounts based on historical write-off experience, customer specific facts and general economic conditions that may affect a client’s ability to pay. Bad debt expense is included in general and administrative expenses, if any. Pursuant to FASB ASC paragraph 310-10-35-41 Credit losses for receivables (uncollectible receivables), which may be for all or part of a particular receivable, shall be deducted from the allowance. The related receivable balance shall be charged off in the period in which the receivables are deemed uncollectible. Recoveries of receivables previously charged off shall be recorded when received. The Company charges off its account receivables against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The allowance for doubtful accounts at January 31, 2016 and April 30, 2015 was $0 and $0, respectively.
Real Estate - Held for Sale	Real estate for which the Company commits to a plan to sell within one year and actively markets in its current condition for a reasonable price in comparison to its estimated fair value is classified as held-for-sale. Real estate held-for-sale is stated at the lower of depreciated cost or estimated fair value less expected disposition costs and is not depreciated.
Per Share Amounts	Basic net income (loss) per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. For the three and nine months ended January 31, 2015, potentially dilutive securities were not included in the calculation of diluted net loss per share because to do so would be anti-dilutive. For the three and nine months ended January 31, 2016, the dilutive effect of stock options and warrants was 0 because all options and warrants outstanding were out of money. The Company had the following common stock equivalents at January 31, 2016 and 2015: January 31, 2016 January 31, 2015 Stock Options 710,019 544,691 Stock Purchase Warrants 336,458 203,125 Total 1,046,477 747,816
Income Tax Provision	The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date. The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“ Section 740-10-25 The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying consolidated balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its consolidated balance sheets and provides valuation allowances as management deems necessary. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In addition, the Company operates within multiple taxing jurisdictions and is subject to audit in these jurisdictions. In management’s opinion, adequate provisions for income taxes have been made for all years. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary. During the three and nine months ended January 31, 2016, the Company recorded an accrued income tax liability of $1,330,755.
Uncertain Tax Positions	The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the provisions of Section 740-10-25 for the reporting period ended January 31, 2016 or 2015.
Recent Accounting Pronouncements	The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on its financial position, results of operations, or cash flows.
Subsequent Events	The Company has evaluated all transactions through the date the consolidated financial statements were issued for subsequent event disclosure consideration.

Significant Accounting Polici24

Significant Accounting Policies (Tables)	9 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Schedule of Common Stock Equivalents	January 31, 2016 January 31, 2015 Stock Options 710,019 544,691 Stock Purchase Warrants 336,458 203,125 Total 1,046,477 747,816

Business Acquisition (Tables)

Business Acquisition (Tables)	9 Months Ended
	Jan. 31, 2016
Business Combinations [Abstract]
Schedule of Pro Forma Basis, Results of Operations	For the Three Months Ended For the Nine Months Ended January 31, 2015 January 31, 2015 Revenues $ 488,273 $ 2,697,446 Net loss $ (1,318,469 ) $ (3,560,883 ) Net loss per common share - Basic and diluted $ (0.32 ) $ (0.87 ) Weighted average number of common shares outstanding - Basic and diluted 4,092,839 4,092,839

Real Estate Held for Sale (Tabl

Real Estate Held for Sale (Tables)	9 Months Ended
	Jan. 31, 2016
Notes to Financial Statements
Real estate held for sale	January 31, Balance at April 30, 2015 $ - Additions - 30 condominium units contributed by Fortis 15,544,382 Cost of sales - 24 condominium units (12,262,090 ) Balance at January 31, 2016 $ 3,282,292

Oil and Gas Assets (Tables)

Oil and Gas Assets (Tables)	9 Months Ended
	Jan. 31, 2016
Extractive Industries [Abstract]
Schedule of Oil and Gas Assets	Cost Oklahoma Kansas Missouri Other Total Balance as of April 30, 2015 $ 6,935,000 $ 7,803,020 $ 918,991 $ 100,000 $ 15,757,011 Additions 7,279 - - - 7,279 Disposals (279,013 ) (7,727,287 ) - - (8,006,300 ) Depreciation, depletion and amortization (21,224 ) (75,733 ) - - (96,957 ) Impairment (5,951,622 ) (918,991 ) (6,870,613 ) Balance as of January 31, 2016 $ 690,420 $ - $ - $ 100,000 $ 790,420

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Jan. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	Estimated useful life As of January 31, 2016 As of April 30, 2015 Patent rights 15 years $ 2,223,686 $ 2,223,686 Less: accumulated amortization (110,632 ) (20,293 ) Intangible assets, net $ 2,113,054 $ 2,203,393
Future annual amortization expense	April 30, 2016 (remainder of year) $ 29,367 2017 119,469 2018 119,469 2019 119,469 2020 119,469 Thereafter 1,605,811 $ 2,113,054

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
	Jan. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Changes to Asset Retirement Obligation	Nine Months Ended January 31, 2016 Period from May 1, 2014 to April 30, 2015 Balance, beginning of period $ 918,430 $ 818,010 Additions - 52,514 Disposals (207,827 ) - Accretion 48,320 47,906 Total asset retirement obligations 758,923 918,430 Less: current portion of asset retirement obligations (541,959 ) (541,959 ) Long-term portion of asset retirement obligations $ 216,964 $ 376,471
Schedule of Expected Timing of Asset Retirement Obligations	Year Ending April 30, 2016 (remainder of year) 541,959 2017 20,000 2018 - 2019 - 2020 - Thereafter 393,353 Subtotal 955,312 Effect of discount (196,389 ) Total $ 758,923

Stock Options (Tables)

Stock Options (Tables)	9 Months Ended
	Jan. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Changes in Stock Options	Options Weighted Average Exercise Prices Outstanding April 30, 2015 540,941 $ 12.00 Exercisable – April 30, 2015 158,241 $ Granted 564,706 $ 2.15 Exercised - $ - Forfeited/Cancelled (395,629 ) $ 11.72 Outstanding – January 31, 2016 710,019 $ 4.00 Exercisable – January 31, 2016 398,823 $ 3.50 Outstanding – Aggregate Intrinsic Value $ - Exercisable – Aggregate Intrinsic Value $ -
Summary of Options Outstanding and Exercisable	Options Outstanding Options Exercisable Exercise Price Options Weighted Avg. Life Remaining Weighted Avg. Exercise Price Options Weighted Avg. Exercise Price $ 44.00 2,326 0.01 years $ 44.00 2,326 $ 44.00 $ 12.00 132,987 7.93 years $ 12.00 54,654 $ 12.00 $ 6.00 10,000 9.00 years $ 6.00 10,000 $ 6.00 $ 2.00 483,039 9.25 years $ 2.00 320,037 $ 2.00 $ 3.00 81,667 9.91 years $ 2.00 6,806 $ 3.00 710,019 393,823 Aggregate Intrinsic Value $ - $ -
Summary of Warrants Outstanding and Exercisable	Number of Warrants Weighted Average Exercise Price Weighted Average Life Remaining Outstanding and exercisable – April 30, 2015 336,458 $ 36.00 2.29 Forfeited - - Granted - - Outstanding and exercisable – January 31, 2016 336,458 $ 36.00 1.53

Non-Controlling Interest (Table

Non-Controlling Interest (Tables)	9 Months Ended
	Jan. 31, 2016
Noncontrolling Interest [Abstract]
Non-controlling interest	Bandolier Fortis Total Non–controlling interest at April 30, 2015 $ 3,644,776 $ - $ 3,644,776 Contribution of real estate by non-controlling interest holders - 9,403,368 9,403,368 Non–controlling interest share of income (losses) (3,184,304 ) 2,392,951 (791,353 ) Non–controlling interest at January 31, 2016 $ 460,472 $ 11,796,319 $ 12,256,791

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jan. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Information	Oil and Gas Real Estate Total Three months ended January 31, 2016 Revenue $ 9,882 $ 5,354,413 $ 5,364,295 Cost of revenue – – – Gross margin 9,882 5,354,413 5,364,295 Operating expenses (15,037,752 ) (2,976,652 ) (18,014,404 ) Operating profit (loss) $ (15,027,870 ) $ 2,377,761 $ (12,650,109 ) Three months ended January 31, 2015 Revenue $ 488,273 $ – $ 488,273 Cost of revenue – – – Gross margin 488,273 – 488,273 Operating expenses (1,806,742 ) – (1,806,742 ) Operating loss $ (1,318,469 ) $ – $ (1,318,469 ) Nine months ended January 31, 2016 Revenue $ 72,723 $ 23,701,524 $ 23,774,247 Cost of revenue – – – Gross margin 72,723 23,701,524 23,774,247 Operating expenses (17,436,558 ) (13,463,025 ) (30,899,583 ) Operating profit (loss) $ (17,363,835 ) $ 10,238,499 $ (7,125,336 ) Nine months ended January 31, 2015 Revenue $ 1,912,034 $ – $ 1,912,034 Cost of revenue – – – Gross margin 1,912,034 – 1,912,034 Operating expenses (6,047,104 ) – (6,047,104 ) Operating loss $ (4,135,070 ) $ – $ (4,135,070 ) January 31, 2016 Cash and cash equivalents (excludes $125,000 of restricted cash) $ 634,310 $ 689,978 $ 1,324,288 Investment in real estate $ – $ 3,282,292 $ 3,282,292 Oil and gas assets, net $ 790,420 $ – $ 790,420 Intangible assets, net $ 2,113,054 $ – $ 2,113,054 April 30, 2015 Cash and cash equivalents (excludes $125,000 of restricted cash) $ 1,010,543 $ – $ 1,010,543 Investment in real estate $ – $ – $ – Oil and gas assets, net $ 15,757,011 $ – $ 15,757,011 Intangible assets, net $ 2,203,393 $ – $ 2,203,393

Organization (Details Narrative

Organization (Details Narrative) - USD ($)	Dec. 07, 2015	Oct. 15, 2015	Jan. 31, 2016	Apr. 30, 2015
Equity ownership		100.00%
Due from related party			$ 5,980,339
Increase authorized number common stock shares	100,000,000
Reverse stock split	One (1) for two hundred (200) reverse split
Bandolier Energy, LLC [Member]
Equity ownership		50.00%	50.00%
Equity transfer value		$ 7,119,798
MegaWest [Member]
Equity ownership		58.51%	58.51%
Equity transfer value		$ 15,544,382
Equity shares		58,510
Fortis [Member]
Equity ownership		41.49%
Equity shares		41,490

Basis of Preparation (Details N

Basis of Preparation (Details Narrative)	Jan. 31, 2016	Oct. 15, 2015
Equity ownership		100.00%
MegaWest [Member]
Equity ownership	58.51%	58.51%
Bandolier [Member]
Equity ownership	50.00%	50.00%

Significant Accounting Polici35

Significant Accounting Policies - Schedule of Common Stock Equivalents (Details) - shares	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Common stock equivalent shares	1,046,477	747,816
Stock Options [Member]
Common stock equivalent shares	710,019	544,691
Stock Purchase Warrant [Member]
Common stock equivalent shares	336,458	203,125

Significant Accounting Polici36

Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2016	Jan. 31, 2015
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 0	$ 0	$ 0
Accrued income tax liability	$ 1,330,755	$ 1,330,755

Business Acquisitions (Details)

Business Acquisitions (Details) - USD ($)	3 Months Ended	9 Months Ended
	Jan. 31, 2015	Jan. 31, 2015
Business Combinations [Abstract]
Revenues	$ 488,273	$ 2,697,446
Net loss	$ (1,318,469)	$ (3,560,883)
Net loss per common share - Basic and diluted	$ (0.32)	$ (0.87)
Weighted average number of common shares outstanding - Basic and diluted	4,092,839	4,092,839

Business Acquisitions (Details

Business Acquisitions (Details Narrative)	1 Months Ended
	Dec. 31, 2015USD ($)shares	May. 30, 2014USD ($)a$ / sharesshares	Jan. 31, 2016shares	Dec. 03, 2015USD ($)	Nov. 17, 2015shares	Oct. 15, 2015	Apr. 30, 2015shares
Equity ownership						100.00%
Common stock shares issued for escrow proceeds | shares			4,263,671				4,259,505
Oklahoma [Member]
Oil and gas land area | a		10,600
Spyglass Energy Group, LLC [Member]
Consideration paid		$ 8,712,893
Clawback, amount		$ 407,161
Bandolier Energy LLC. [Member]
Equity ownership		50.00%
Capital contribution		$ 5,000,000
Persona West [Member]
Equity ownership		44.00%
Consideration paid		$ 4,400,000
Equity exchange price per share | $ / shares		$ 16
Common stock ownership percentage		6.00%
Option contingently issuable | shares		275,000
Ranger Station [Member]
Equity ownership		6.00%
Consideration paid		$ 600,000
Escrow Agreement [Member]
Common stock shares issued for escrow proceeds | shares					230,000,000
Horizon Investments [Member]
Equity ownership				20.00%
Escrow account				$ 690,000
Cash paid for acquisition of assets	$ 5,000,000
Consideration paid	$ 750,000
Common stock shares issued for purchase assets | shares	10,168,333

Accounts Receivable - Related39

Accounts Receivable - Related Party (Details Narrative) - USD ($)	Oct. 15, 2015	Jan. 31, 2016	Apr. 30, 2015
Equity ownership	100.00%
Due from related party		$ 5,980,339
Fortis [Member]
Equity ownership	41.49%
Equity shares	41,490
Accounts receivable related party		5,616,589
Proceeds from related party		$ 363,750
Bandolier Energy, LLC [Member]
Equity ownership	50.00%	50.00%
Equity transfer value	$ 7,119,798
MegaWest [Member]
Equity ownership	58.51%	58.51%
Equity transfer value	$ 15,544,382
Equity shares	58,510

Notes Receivable - Related Pa40

Notes Receivable - Related Party (Details Narrative)	Dec. 03, 2015	Nov. 29, 2015	Dec. 31, 2015USD ($)	Jan. 31, 2016USD ($)	Nov. 30, 2015USD ($)
Receivables, Other, Related Parties and Retainage [Abstract]
Number of promissory note			5		5
Notes receivable related party			$ 16,438,000	$ 16,348,000	$ 16,438,000
Notes receivable bear interest			3.00%		3.00%
Notes receivable related party maturity date	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2017

Real Estate Held for Sale - Rea

Real Estate Held for Sale - Real estate held for sale (Details) - USD ($)	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Notes to Financial Statements
Balance at beginning of period
Additions	$ 15,544,382
Cost of sales	(2,262,090)
Balance at end of period	$ 3,282,292

Real Estate Held for Sale - R42

Real Estate Held for Sale - Real estate held for sale (Details Narrative) - USD ($)	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Notes to Financial Statements
Real estate sales	$ 2,262,090
Gross proceeds from real estate sales	23,701,524
Closing costs	$ 1,200,935

Oil and Gas Assets (Details)

Oil and Gas Assets (Details)	9 Months Ended
	Jan. 31, 2016USD ($)
Oil and gas assets, net	$ 15,757,011
Additions	7,279
Disposals	(8,006,300)
Depreciation, depletion and amortization	(96,957)
Impairment	(6,870,613)
Oil and gas assets, net	790,420
Oklahoma Bandolier [Member]
Oil and gas assets, net	6,935,000
Additions	7,279
Disposals	(279,013)
Depreciation, depletion and amortization	(21,224)
Impairment	(5,951,622)
Oil and gas assets, net	690,420
Kansas [Member]
Oil and gas assets, net	$ 7,803,020
Additions
Disposals	$ (7,727,287)
Depreciation, depletion and amortization	$ (75,733)
Oil and gas assets, net
Missouri [Member]
Oil and gas assets, net	$ 918,991
Additions
Disposals
Depreciation, depletion and amortization
Impairment	$ (918,991)
Oil and gas assets, net
Other [Member]
Oil and gas assets, net	$ 100,000
Additions
Disposals
Depreciation, depletion and amortization
Oil and gas assets, net	$ 100,000

Oil and Gas Assets (Details Nar

Oil and Gas Assets (Details Narrative)	3 Months Ended		9 Months Ended
	Jan. 31, 2016USD ($)	Jan. 31, 2015USD ($)	Jan. 31, 2016USD ($)	Jan. 31, 2015USD ($)	Jan. 19, 2016USD ($)a	Oct. 15, 2015	May. 30, 2014a
Disposals	$ (7,519,460)		$ (7,519,460)
Interest rate						100.00%
Impairment charge			$ 6,870,613
Missouri [Member]
Disposals
Impairment charge			$ 918,991
Oklahoma Bandolier [Member]
Disposals			279,013
Area of land | a							10,600
Impairment charge			5,951,622
Petro UK [Member]
Escrow deposit					$ 735,798
Total deposit cost to drill the first well	6,159,452		6,159,452
Horizon Energy [Member]
Interest rate					20.00%
Brigantes Energy Limited [Member]
Interest rate					10.00%
Southwestern Resources Ltd [Member]
Interest rate					16.00%
Larne Basin [Member]
Interest rate					9.00%
Area of land | a					130,000
Kansas [Member]
Disposals	$ 7,519,460		$ 7,727,287

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	9 Months Ended
	Jan. 31, 2016	Apr. 30, 2015
Patent rights	$ 2,223,686	$ 2,223,686
Less: Accumulated amortization	(110,632)	(20,293)
Intangible assets, net	$ 2,113,054	$ 2,203,393
Patents [Member]
Estimated useful life	15 years

Intangible Assets (Details 1)

Intangible Assets (Details 1) - USD ($)	Jan. 31, 2016	Apr. 30, 2015
Estimated future annual amortization expense
2,016	$ 29,367
2,017	119,469
2,018	119,469
2,019	119,469
2,020	119,469
Thereafter	1,605,811
Intangible assets, net	$ 2,113,054	$ 2,203,393

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 30,113	$ 0	$ 90,339	$ 0

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($)	9 Months Ended	12 Months Ended
	Jan. 31, 2016	Apr. 30, 2015
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations, beginning of period	$ 918,430	$ 818,010
Additions		$ 52,514
Disposals	$ (207,827)
Accretion	48,320	$ 47,906
Total asset retirement obligations	758,923	918,430
Less: Current portion of asset retirement obligations	(541,959)	(541,959)
Long-term portion of asset retirement obligations	$ 216,964	$ 376,471

Asset Retirement Obligations 49

Asset Retirement Obligations (Details 1) - USD ($)	Jan. 31, 2016	Apr. 30, 2015	Apr. 30, 2014
Asset Retirement Obligation Disclosure [Abstract]
2016 (remainder of year)	$ 541,959
2,017	$ 20,000
2,018
2,019
2,020
Thereafter	$ 393,353
Subtotal	955,312	$ 1,143,857
Effect of discount	(196,389)
Total	$ 758,923	$ 918,430	$ 818,010

Asset Retirement Obligations 50

Asset Retirement Obligations (Details Narrative) - USD ($)	9 Months Ended
	Jan. 31, 2016	Apr. 30, 2015
Asset Retirement Obligation, future liability	$ 955,312	$ 1,143,857
Credit-adjusted risk-free discount rate	10.00%
Percentage of inflation rate	2.00%
Reclamation deposits	$ 0	$ 0
MinimumMember
Costs are expected to be incurred, minimum period	1 year
Maximum [Member]
Costs are expected to be incurred, minimum period	24 years

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Jan. 13, 2016	Dec. 07, 2015	Dec. 03, 2015	Nov. 29, 2015	Jan. 31, 2016	Dec. 31, 2015	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015	Oct. 15, 2015
Equity ownership											100.00%
Proceeds from promissory note	$ 750,000		$ 750,000
Promissory note, due date			Dec. 31, 2016	Dec. 31, 2017		Dec. 31, 2017
Outstanding balance of promissory note	$ 750,000				$ 750,000		$ 750,000		$ 750,000
Membership interest, description		Mr. Cohen owns a 9.2% membership interest in Horizon Investments. Horizon Investments owns a 20% interest in Horizon Energy Partners. Mr. Cohen owns a 2.8% membership interest in Horizon Energy Partners.
General & Administrative [Member]
Compensation expense							311,993	$ 841,052	1,485,993	$ 902,329
President [Member]
Salary					5,000		5,000		5,000
Salary after March 2016					$ 10,000		$ 10,000		$ 10,000
Stock option grant					53,244
Equity ownership					1.25%		1.25%		1.25%
Right to purchase, equity ownership					1.75%		1.75%		1.75%
Fair value of common stock					$ 1.78		$ 1.78		$ 1.78
Option exercise price					$ 2		$ 2		$ 2
Volatility					171.00%
Discount rate					2.16%
Grant date fair value					$ 89,525
President [Member] | General & Administrative [Member]
Compensation expense							$ 6,101		$ 24,006

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	1 Months Ended
	Feb. 29, 2016	Jan. 19, 2016	Jan. 31, 2016	Apr. 30, 2015
Preferred stock, shares authorized			5,000,000	5,000,000
Preferred stock, par value			$ 0.00001	$ 0.00001
Preferred stock, shares issued			0	0
Preferred stock, shares outstanding			0	0
Common stock, shares authorized			100,000,000	100,000,000
Common stock, par value			$ 0.00001	$ 0.00001
Common stock, shares issued			4,263,671	4,259,505
Common stock, shares outstanding			4,263,671	4,259,505
Restricted common stock granted		25,000
Restricted common stock issued		4,166
Stock-based compensation		$ 6,875
Subsequent Event [Member]
Comon stock cancelled	20,834
Preferred B Shares [Member]
Preferred stock, shares authorized			29,500	29,500
Preferred stock, par value			$ 0.00001	$ 0.00001
Preferred stock, shares issued			0	0
Preferred stock, shares outstanding			0	0

Stock Options (Details)

Stock Options (Details)	9 Months Ended
	Jan. 31, 2016USD ($)$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of Options, Outstanding, beginning balance	540,941
Number of Options, Exercisable, beginning balance	158,241
Number of Options, Granted	564,706
Number of Options, Exercised
Number of Options, Forfeited/Cancelled	(395,629)
Number of Options, Outstanding, ending balance	710,019
Number of Options, Exercisable, ending balance	398,823
Weighted Avg. Exercise Price, Outstanding | $ / shares	$ 2
Weighted Avg. Exercise Price, Granted | $ / shares	$ 2.15
Weighted Avg. Exercise Price, Exercised | $ / shares
Weighted Avg. Exercise Price, Forfeited/Cancelled | $ / shares	$ 11.72
Weighted Avg. Exercise Price, Outstanding | $ / shares	4
Weighted Avg. Exercise Price, Exercisable | $ / shares	$ 3.50
Outstanding - Aggregate Intrinsic Value | $
Exercisable - Aggregate Intrinsic Value | $

Stock Options (Details 1)

Stock Options (Details 1)	9 Months Ended
	Jan. 31, 2016USD ($)$ / sharesshares
Options Outstanding | shares	710,019
Options Exercisable | shares	393,823
Options Outstanding - Aggregate Intrinsic Value | $
Options Exercisable - Aggregate Intrinsic Value | $
Exercise Price Range One [Member]
Exercise Price	$ 44
Options Outstanding | shares	2,326
Options Outstanding, Weighted Avg. Life Remaining	4 days
Options Outstanding, Weighted Avg. Exercise Price	$ 44
Options Exercisable | shares	2,326
Options Exercisable, Weighted Avg. Exercise Price	$ 44
Exercise Price Range Two [Member]
Exercise Price	$ 12
Options Outstanding | shares	132,987
Options Outstanding, Weighted Avg. Life Remaining	7 years 11 months 5 days
Options Outstanding, Weighted Avg. Exercise Price	$ 12
Options Exercisable | shares	54,654
Options Exercisable, Weighted Avg. Exercise Price	$ 12
Exercise Price Range Three [Member]
Exercise Price	$ 6
Options Outstanding | shares	10,000
Options Outstanding, Weighted Avg. Life Remaining	9 years
Options Outstanding, Weighted Avg. Exercise Price	$ 6
Options Exercisable | shares	10,000
Options Exercisable, Weighted Avg. Exercise Price	$ 6
Exercise Price Range Four [Member]
Exercise Price	$ 2
Options Outstanding | shares	483,039
Options Outstanding, Weighted Avg. Life Remaining	9 years 3 months
Options Outstanding, Weighted Avg. Exercise Price	$ 2
Options Exercisable | shares	320,037
Options Exercisable, Weighted Avg. Exercise Price	$ 2
Exercise Price Range Five [Member]
Exercise Price	$ 3
Options Outstanding | shares	81,667
Options Outstanding, Weighted Avg. Life Remaining	9 years 10 months 28 days
Options Outstanding, Weighted Avg. Exercise Price	$ 2
Options Exercisable | shares	6,806
Options Exercisable, Weighted Avg. Exercise Price	$ 3

Stock Options (Details 2)

Stock Options (Details 2)	9 Months Ended
	Jan. 31, 2016$ / sharesshares
Weighted Avg. Exercise Price, Granted	$ 2.15
Stock Purchase Warrants [Member]
Number of Warrants, Outstanding and exercisable, Beginning balance | shares	336,458
Number of Warrants, Forfeited | shares
Number of Warrants, Granted | shares
Number of Warrants, Outstanding and exercisable, Ending balance | shares	336,458
Weighted Avg. Exercise Price, Outstanding and exercisable	$ 36
Weighted Avg. Exercise Price, Forfeited
Weighted Avg. Exercise Price, Granted
Weighted Avg. Exercise Price, Outstanding and exercisable	$ 36
Weighted Avg. Life Remaining, Outstanding and exercisable, beginning	2 years 3 months 15 days
Weighted Avg. Life Remaining, Outstanding and exercisable, ending	1 year 6 months 11 days

Stock Options (Details Narrativ

Stock Options (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Dec. 31, 2015	Oct. 23, 2015	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Unrecognized stock based compensation expense			$ 65,519		$ 65,519
Unrecognized Share-based Compensation, Period for Recognition					4 years
Aggregate intrinsic value of warrants			$ 0		$ 0
Number of Options, Forfeited/Cancelled					(395,629)
Number of Options, Granted					564,706
Employee Stock Option [Member]
Number of Options, Forfeited/Cancelled		(395,629)
Number of Options, Granted		453,039
Employee Stock Option [Member] | MinimumMember
Fair value of common stock			$ 2		$ 2
Option exercise price			2		$ 2
Volatility					170.00%
Discount rate					1.94%
Employee Stock Option [Member] | Maximum [Member]
Fair value of common stock			12		$ 12
Option exercise price			$ 12		$ 12
Volatility					179.00%
Discount rate					2.29%
Employee Stock Option [Member] | Consultants [Member]
Number of Options, Granted	111,667
General and Administrative Expense [Member]
Allocated stock based compensation expense			$ 311,993	$ 841,052	$ 1,485,993	$ 902,329

Non-Controlling Interest (Detai

Non-Controlling Interest (Details)	9 Months Ended
	Jan. 31, 2016USD ($)
Non-controlling interest at April 30, 2015	$ 3,644,776
Contribution of real estate by of non-controlling interest holders	9,403,368
Non-controlling interest share of income (losses)	(791,353)
Non-controlling interest at January 31, 2016	12,256,791
Bandolier [Member]
Non-controlling interest at April 30, 2015	$ 3,644,776
Contribution of real estate by of non-controlling interest holders
Non-controlling interest share of income (losses)	$ (3,184,304)
Non-controlling interest at January 31, 2016	$ 460,472
Fortis [Member]
Non-controlling interest at April 30, 2015
Contribution of real estate by of non-controlling interest holders	$ 9,403,368
Non-controlling interest share of income (losses)	2,392,951
Non-controlling interest at January 31, 2016	$ 11,796,319

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015	Apr. 30, 2015	Apr. 30, 2014
Cost of revenue	$ 2,976,652		$ 13,463,025
Operating profit (loss )	(12,650,109)	$ (1,318,469)	(7,125,336)	$ (4,135,070)
Cash and cash equivalents (excludes $125,000 of restricted cash)	1,324,288	1,501,387	1,324,288	1,501,387	$ 1,010,543	$ 8,352,949
Investment in real estate	3,282,292		3,282,292
Oil and gas assets, net	790,420		790,420		$ 15,757,011
Intangible assets, net	2,113,054		2,113,054		2,203,393
Restricted cash	125,000		125,000		125,000
Oil and Gas [Member]
Revenue	$ 9,882	$ 488,273	$ 72,723	$ 1,912,034
Cost of revenue
Gross margin	$ 9,882	$ 488,273	$ 72,723	$ 1,912,034
Operating expenses	(15,037,752)	(1,806,742)	(17,436,558)	(6,047,104)
Operating profit (loss )	(15,027,870)	$ (1,318,469)	(17,363,835)	$ (4,135,070)
Cash and cash equivalents (excludes $125,000 of restricted cash)	$ 634,310		$ 634,310		$ 1,010,543
Investment in real estate
Oil and gas assets, net	$ 790,420		$ 790,420		$ 15,757,011
Intangible assets, net	2,113,054		2,113,054		$ 2,203,393
Real Estate [Member]
Revenue	$ 5,354,413		$ 23,701,524
Cost of revenue
Gross margin	$ 5,354,413		$ 23,701,524
Operating expenses	(2,976,652)		(13,463,025)
Operating profit (loss )	2,377,761		10,238,499
Cash and cash equivalents (excludes $125,000 of restricted cash)	689,978		689,978
Investment in real estate	$ 3,282,292		$ 3,282,292
Oil and gas assets, net
Intangible assets, net
Total [Member]
Revenue	$ 5,364,295	$ 488,273	$ 23,774,247	$ 1,912,034
Cost of revenue
Gross margin	$ 5,364,295	$ 488,273	$ 23,774,247	$ 1,912,034
Operating expenses	(18,014,404)	(1,806,742)	(30,899,583)	(6,047,104)
Operating profit (loss )	$ (12,650,109)	$ (1,318,469)	$ (7,125,336)	$ (4,135,070)

Contingency and Contractual O59

Contingency and Contractual Obligations (Details Narrative) - USD ($)	Jan. 30, 2014	Sep. 30, 2013
Landlord filed a statement against company for the amount	$ 536,500
Amount collected by Railroad Commission of Taxes	475,700	$ 25,000
Estimated cost of plug		$ 88,960
Canada, Dollars
Landlord filed a statement against company for the amount	759,000
Amount collected by Railroad Commission of Taxes	$ 665,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Mar. 04, 2016	Dec. 03, 2015	Oct. 15, 2015
Working interest, percentage			100.00%
Horizon Investments [Member]
Working interest, percentage		20.00%
Subsequent Event [Member]
Working interest, percentage	13.75%
Payment in acquisition	$ 83,333
Subsequent Event [Member] | Horizon Energy [Member]
Working interest, percentage	27.50%
Subsequent Event [Member] | Horizon Investments [Member]
Working interest, percentage	20.00%