Brinx Resources (BNXR) 10-Q16 Jun 142014 Q2 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
Document And Entity Information	Apr. 30, 2014	Jun. 04, 2014
Document Information [Line Items]	'	'
Entity Registrant Name	'BRINX RESOURCES LTD	'
Entity Central Index Key	'0001212641	'
Current Fiscal Year End Date	'--10-31	'
Entity Filer Category	'Smaller Reporting Company	'
Trading Symbol	'BNXR	'
Entity Common Stock, Shares Outstanding	'	24,629,832
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Apr-14	'
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

BALANCE_SHEETS

BALANCE SHEETS (USD $)	Apr. 30, 2014	Oct. 31, 2013
Current assets	'	'
Cash and cash equivalents	$162,988	$60,812
Investment - Certificate of deposit	100,000	200,000
Marketable securities	216,800	44,000
Accounts receivable	17,768	35,760
Prepaid expenses and deposit	41,506	41,871
Total current assets	539,062	382,443
Undeveloped mineral interests, at cost	0	3,101
Oil and gas interests, full cost method of accounting, net of accumulated depletion	944,798	1,169,052
Property, plant and equipment (net)	1,354	1,741
Total assets	1,485,214	1,556,337
Current liabilities	'	'
Accounts payable and accrued liabilities	12,729	63,265
Total current liabilities	12,729	63,265
Asset retirement obligations	33,357	31,636
Total liabilities	46,086	94,901
Stockholders' equity	'	'
Common stock - $0.001 par value; authorized - 100,000,000 shares Issued and outstanding - 24,629,832 shares	24,630	24,630
Capital in excess of par value	2,868,057	2,868,057
Accumulative other comprehensive loss	-55,200	-228,000
Retained earnings	-1,398,859	-1,203,751
Total stockholders' equity	1,439,128	1,461,436
Total liabilities and stockholders' equity	1,485,214	1,556,337
Series A Preferred Stock [Member]	'	'
Stockholders' equity	'	'
Preferred stock - $0.001 par value; authorized - 25,000,000 shares Series A Preferred stock - $0.001 par value; authorized - 1,000,000 shares Issued and outstanding - 500,001 shares	$500	$500

BALANCE_SHEETS_Parenthetical

BALANCE SHEETS [Parenthetical] (USD $)	Apr. 30, 2014	Oct. 31, 2013
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	25,000,000	25,000,000
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	24,629,832	24,629,832
Common stock, shares outstanding	24,629,832	24,629,832
Series A Preferred Stock [Member]	'	'
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	500,001	500,001
Preferred stock, shares outstanding	500,001	500,001

STATEMENTS_OF_COMPREHENSIVE_IN

STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (USD $)	3 Months Ended		6 Months Ended
STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (USD $)	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014	Apr. 30, 2013
REVENUES	'	'	'	'
Natural gas and oil sales	$20,952	$58,182	$104,517	$122,558
DIRECT COSTS	'	'	'	'
Production costs	8,692	5,345	20,102	19,250
Depreciation, depletion and accretion	9,081	39,894	45,169	65,910
General and administrative	112,863	149,159	231,382	311,578
Writedown of natural gas and oil properties	0	0	0	2,039
Writeoff of undeveloped minerial interests	0	0	3,101	0
Total Expenses	-130,636	-194,398	-299,754	-398,777
OPERATING (LOSS)	-109,684	-136,216	-195,237	-276,219
OTHER INCOME	'	'	'	'
Interest income	79	197	129	395
NET(LOSS)	-109,605	-136,019	-195,108	-275,824
OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAX	'	'	'	'
Unrealized gain on held for sale marketable security	174,880	56,000	172,800	0
COMPREHENSIVE INCOME/(LOSS) FOR THE PERIODS	$65,275	($80,019)	($22,308)	($275,824)
Net Income/(Loss) Per Common Share	'	'	'	'
- Basic (in dollars per share)	$0	($0.01)	($0.01)	($0.01)
- Diluted (in dollars per share)	$0	($0.01)	($0.01)	($0.01)
Weighted average number of common shares outstanding	'	'	'	'
- Basic (in shares)	24,629,832	24,629,832	24,629,832	24,629,832
- Diluted (in shares)	24,629,832	24,629,832	24,629,832	24,629,832

STATEMENTS_OF_CASH_FLOWS

STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
STATEMENTS OF CASH FLOWS (USD $)	Apr. 30, 2014	Apr. 30, 2013
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES	'	'
Net (loss)	($195,108)	($275,824)
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation, depletion and accretion	45,169	65,910
Writedown of natural gas and oil properties	0	2,039
Writeoff of undeveloped minerial interests	3,101	0
Changes in working capital:	'	'
Decrease in accounts receivable	17,992	6,512
Decrease / (Increase) in prepaid expenses and deposit	365	-26,730
Decrease in accounts payable and accrued liabilities	-55,289	-9,893
Net cash (used in) operating activities	-183,770	-237,986
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES	'	'
Purchase of equipment	0	-2,322
Redemption of Certificate of deposit	100,000	0
Sale proceeds of natural gas and oil working interests	275,148	0
Payments on oil and gas interests	-89,202	-57,904
Net cash provided by / (used in) investing activities	285,946	-60,226
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES	'	'
Net cash provided by /(used in) financing activities	0	0
Net increase / (decrease) in cash	102,176	-298,212
Cash and cash equivalents, beginning of periods	60,812	540,512
Cash and cash equivalents, end of periods	162,988	242,300
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES	'	'
Assets retirement costs incurred	-1,898	-1,654
Investment in natural oil and gas working interests included in accounts payable	$4,753	$6,283

ORGANIZATION_AND_SUMMARY_OF_SI

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Apr. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	'
	1	ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Brinx Resources Ltd. (the “Company”) was incorporated under the laws of the State of Nevada on December 23, 1998, and issued its initial common stock in February 2001. The Company holds oil and gas interests in Oklahoma and California. In 2006, the Company commenced oil and gas production and started earning revenues.

	The accompanying financial statements of the Company are unaudited. In the opinion of management, the financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for fair presentation. The results of operations for the six-month period ended April 30, 2014 are not necessarily indicative of the operating results for the entire year. These financial statements should be read in conjunction with the financial statements and notes included in the Company’s Form 10-K for the year ended October 31, 2013.

	USE OF ESTIMATES

	The preparation of financial statement in conformity with generally accepted accounting principles 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

	The oil and gas industry is subject, by its nature, to environmental hazards and clean-up costs. At this time, management knows of no substantial costs from environmental accidents or events for which the Company may be currently liable. In addition, the Company’s oil and gas business makes it vulnerable to changes in prices of crude oil and natural gas. Such prices have been volatile in the past and can be expected to be volatile in the future. By definition, proved reserves are based on current oil and gas prices and estimated reserves. Price declines reduce the estimated quantity of proved reserves and increase annual depletion expense (which is based on proved reserves).

	OIL AND GAS INTERESTS

	The Company utilizes the full cost method of accounting for oil and gas activities. Under this method, subject to a limitation based on estimated value, all costs associated with property acquisition, exploration and development, including costs of unsuccessful exploration; are capitalized within a cost center. No gain or loss is recognized upon the sale or abandonment of undeveloped or producing oil and gas interests unless the sale represents a significant portion of oil and gas interests and the gain significantly alters the relationship between capitalized costs and proved oil and gas reserves of the cost center. Depreciation, depletion and amortization of oil and gas interests are computed on the units of production method based on proved reserves. Amortizable costs include estimates of future development costs of proved undeveloped reserves.

	Capitalized costs of oil and gas interests may not exceed an amount equal to the present value, discounted at 10%, of the estimated future net cash flows from proved oil and gas reserves plus the cost, or estimated fair market value, if lower, of unproved interests. Should capitalized costs exceed this ceiling, and impairment is recognized. The present value of estimated future net cash flows is computed by applying average prices, in the preceding twelve months, of oil and gas to estimated future production of proved oil and gas reserves as of year ends, less estimated future expenditures to be incurred in developing and producing the proved reserves and assuming continuation of existing economic conditions.

	REVENUE RECOGNITION

	Revenue from sales of crude oil, natural gas and refined petroleum products are recorded when deliveries have occurred and legal ownership of the commodity transfers to the customers. Title transfers for crude oil, natural gas and bulk refined products generally occur at pipeline custody points or when a tanker lifting has occurred. Revenues from the production of oil and natural gas properties in which the Company shares an undivided interest with other producers are recognized based on the actual volumes sold by the Company during the period. Gas imbalances occur when the Company’s actual sales differ from its entitlement under existing working interests. The Company records a liability for gas imbalances when it has sold more than its working interest of gas production and the estimated remaining reserves make it doubtful that the partners can recoup their share of production from the field. At April 30, 2014 and 2013, the Company had no overproduced imbalances.

	ACCOUNTS RECEIVABLE

	Accounts receivable are carried at net receivable amounts less an estimate for doubtful accounts. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history, and current economic conditions. Trade receivables are written off when deemed uncollectible. Recoveries of receivables previously written off are recorded when received.

	OTHER EQUIPMENT

	Computer equipment is stated at cost. Provision for depreciation on computer equipment is calculated using the straight-line method over the estimated useful life of three years.

	IMPAIRMENT OF LONG-LIVED ASSETS

	The Company has adopted FASB ASC 360 “Accounting for the Impairment or Disposal of Long-Lived Assets", which requires that long-lived assets to be held and used be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Oil and gas interests accounted for under the full cost method are subject to a ceiling test, described above, and are excluded from this requirement.

	ASSET RETIREMENT OBLIGATIONS

	The Company follows FASB ASC 410-20 "Accounting for Asset Retirement Obligations", which addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs.

	FASB ASC 410-20 requires recognition of the present value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. The liability is capitalized as part of the related long-lived asset's carrying amount.

	Over time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. The Company's asset retirement obligations are related to the plugging, dismantlement, removal, site reclamation and similar activities of its oil and gas exploration activities.

	INCOME / (LOSS) PER SHARE

	Basic income/(loss) per share is computed based on the weighted average number of common shares outstanding during each year. The computation of diluted earnings per share assumes the conversion, exercise or contingent issuance of securities only when such conversion, exercise or issuance would have the dilutive effect on income/(loss) per share. The dilutive effect of outstanding options was nil as of April 30, 2014 and 2013.

	The table below presents the computation of basic and diluted earnings per share for the six-month periods ended April 30, 2014 and 2013:

			April 30, 2014		April 30, 2013
	Basic earnings per share computation:

	(Loss) from continuing operations		$	-195,108	$	-275,824
	Basic shares outstanding			24,629,832		24,629,832
	Basic earnings per share		$	-0.01	$	-0.01

	INCOME TAXES

	Deferred tax assets and liabilities are recognized for temporary differences between the financial reporting and tax bases of the firm’s assets and liabilities. Valuation allowances are established to reduce deferred tax assets to the amount that more likely than not will be realized. The firm’s tax assets and liabilities, if any, are presented as a component of “Other assets” and “Other liabilities and accrued expenses,” respectively, in the balance sheet. Tax provisions are computed in accordance with FASB ASC 740, “Accounting for Income Taxes”.

	The Company applies the provisions of FASB ASC 740-10 “Accounting for Uncertainty in Income Taxes — an Interpretation”. A tax position can be recognized in the financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. A liability is established for differences between positions taken in a tax return and amounts recognized in the financial statements. FASB ASC 740-10 also provides guidance on de-recognition, classification, interim period accounting and accounting for interest and penalties.

	CASH EQUIVALENTS

For purposes of reporting cash flows, the Company considers as cash equivalents all highly liquid investments with a maturity of three months or less at the time of purchase. On occasion, the Company may have cash balances in excess of federally insured amounts.

MARKETABLE SECURITIES AND INVESTMENTS

All equity Investments are classified as available for sale and any subsequent changes in the fair value are recorded in comprehensive income. If in the opinion of management there has been a decline in the value of the investment below the carrying value that is considered to be other than temporary, the valuation adjustment is recorded in net earnings in the period of determination. The fair value of the investments is based on the quoted market price on the closing date of the period.

FAIR VALUE

The Company adopted FASB ASC 820-10-50, “Fair Value Measurements”. This guidance defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows:

Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

Level 3 inputs to valuation methodology are unobservable and significant to the fair measurement.

The carrying amounts reported in the balance sheets for the cash and cash equivalents, investments in certificates of deposits, receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. Marketable securities are valued using Level 1 inputs.

CONCENTRATION OF CREDIT RISK

Financial instruments which potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, investments in certificates of deposit and accounts receivable. The Company maintains cash at one financial institution. The Company periodically evaluates the credit worthiness of financial institutions, and maintains cash accounts only in large high quality financial institutions, thereby minimizing exposure for deposits in excess of federally insured amounts. The Company believes credit risk associated with cash and cash equivalents to be minimal.

The Company has recorded trade accounts receivable from the business operations. Management periodically evaluates the collectability of the trade receivables and believes that the Company’s receivables are fully collectable and that the risk of loss is minimal.

RECENT ACCOUNTING PRONOUNCEMENTS

On February 5, 2013, the FASB issued ASU 2013-02, which requires entities to disclose the following additional information about items reclassified out of accumulated other comprehensive income (AOCI): (1) changes in AOCI balances by component, (2) significant items reclassified out of AOCI by component either on the face of the income statement or as a separate footnote to the financial statements. For public entities, the ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. The adoption of this ASU did not have a material impact on the financial statements of the Company.

GOING CONCERN

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

As shown in the accompanying financial statements, the Company has incurred a net loss of $1,398,859 since inception. To achieve profitable operations, the Company requires additional capital for obtaining producing oil and gas properties through either the purchase of producing wells or successful exploration activity. Management believes that sufficient funding will be available to meet its business objectives including anticipated cash needs for working capital and is currently evaluating several financing options. However, there can be no assurance that the Company will be able to obtain sufficient funds to continue the development of its properties and, if successful, to commence the sale of its projects under development. As a result of the foregoing, there exists substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

MARKETABLE_SECURITIES

MARKETABLE SECURITIES	6 Months Ended
	Apr. 30, 2014
Marketable Securities [Abstract]	'
Marketable Securities [Text Block]	'
	2	MARKETABLE SECURITIES

	In August 2011, the Company received 800,000 common shares in Lexaria Corp. on the sale of its oil and natural gas interests in Mississippi, with a value of $0.34 per share. The value of the shares at April 30, 2014 was $0.27 per share, as compared to $0.055 per share as at October 31, 2013, giving rise to an unrealized gain of $172,800 for the six-month period ended April 30, 2014 (2013 – no unrealized gain or loss). The Company evaluated the prospects of Lexaria in relation to the severity and duration of the impairment. Based on the evaluation and the Company’s ability and intent to hold the shares for a reasonable period of time sufficient for a recovery, the Company does not consider the shares to be other-than-temporarily impaired at April 30, 2014.

ACCOUNTS_RECEIVABLE

ACCOUNTS RECEIVABLE	6 Months Ended
ACCOUNTS RECEIVABLE	Apr. 30, 2014
Receivables [Abstract]	'
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	'
	3	ACCOUNTS RECEIVABLE

	Accounts receivable consists of revenues receivable, interest receivable and other receivable. The revenues receivable are from the operators of the oil and gas projects for the sale of oil and gas by the operators on the Company’s behalf and are carried at net receivable amounts less an estimate for doubtful accounts. Management considers all accounts receivable to be fully collectible at April 30, 2014 and October 31, 2013. Accordingly, no allowance for doubtful accounts or bad debt expense has been recorded.

			April 30, 2014		October 31, 2013
	Accounts receivable		$	17,768	$	35,760
	Less: allowance for doubtful account			-		-
			$	17,768	$	35,760

OIL_AND_GAS_INTERESTS

OIL AND GAS INTERESTS	6 Months Ended
OIL AND GAS INTERESTS	Apr. 30, 2014
Oil and Gas Interests [Abstract]	'
Oil and Gas Interests [Text Block]	'
	4	OIL AND GAS INTERESTS

	The Company holds the following oil and natural gas interests:

			April 30, 2014			October 31, 2013
	2008-3 Drilling Program, Oklahoma		$	309,152		$	309,152
	2009-2 Drilling Program, Oklahoma			114,420			114,420
	2009-3 Drilling Program, Oklahoma			353,399			349,320
	2009-4 Drilling Program, Oklahoma			190,182			190,182
	2010-1 Drilling Program, Oklahoma			-48,138			270,665
	Washita Bend 3D, Oklahoma			882,583			793,551
	Double T Ranch #1 SWDW, Oklahoma			51,655			50,812
	Kings City Prospect, California			406,766			406,766
	South Wayne Prospect, Oklahoma			61,085			61,085
	PP F-12-2, PP F-12-3, PP F-12-4 and PP F-52, Mississippi			-222,123			-222,123
	Three Sands Project, Oklahoma			555,715			555,715
	Asset retirement cost			3,190			3,367
	Less: Accumulated depletion and impairment			-1,713,088			-1,713,860
			$	944,798		$	1,169,052

	2008-3 Drilling Program, Oklahoma

	On January 12, 2009, the Company acquired a 5% working interest in the Ranken Energy Corporation’s 2008-3 Drilling Program. The Company agreed to participate in the drilling operations to casing point in the initial test well of each prospect. The Before Casing Point Interest (“BCP”) is 6.25% and the After Casing Point Interest (“ACP”) is 5.00%. At April 30, 2014, the total cost of the 2008-3 Drilling Program was $309,152. The interests are located in Garvin County, Oklahoma.

	2009-2 Drilling Program, Oklahoma

	On June 19, 2009, the Company acquired a 5% working interest in the Ranken Energy Corporation’s 2009-2 Drilling Program. The Company agreed to participate in the drilling operations to casing point in the initial test well of each prospect. The BCP Interest is 6.25% and the ACP Interest is 5.00%. At April 30, 2014, the total cost of the 2009-2 Drilling Program was $114,420. The interests are located in Garvin County, Oklahoma.

	2009-3 Drilling Program, Oklahoma

	On August 12, 2009, the Company acquired a 5.00% working interest in Ranken Energy Corporation’s 2009-3 Drilling Program. The Company agreed to participate in the drilling operations to casing point in the initial test well of each prospect. The BCP Interest is 6.25% and the ACP is 5.00%. At April 30, 2014, the total cost of the 2009-3 Drilling Program was $353,399. The interests are located in Garvin County, Oklahoma.

	2009-4 Drilling Program, Oklahoma

	On December 19, 2009, the Company acquired a 5.00% working interest in Ranken Energy Corporation’s 2009-4 Drilling Program. The Company agreed to participate in the drilling operations to casing point in the initial test well of each prospect. The BCP Interest is 6.25% and the ACP Interest is 5.00%. At April 30, 2014, the total cost of the 2009-4 Drilling Program was $190,182. The interests are located in Garvin County, Oklahoma.

	2010-1 Drilling Program, Oklahoma

	On April 23, 2010, the Company acquired a 5.00% working interest in Ranken Energy Corporation’s 2010-1 Drilling Program. The Company agreed to participate in the drilling operations to casing point in the initial test well of each prospect. The BCP Interest is 6.25% and the ACP Interest is 5.00%.

	On January 1, 2014, the Company sold all its working interest in Miss Jenny#1-8 from the 2010-1 drilling program for $275,147 less sales commission as part of the sale of 100% of the well by its operator. At April 30, 2014, the total cost of the 2010-1 Drilling Program was ($48,138). The interests are located in Garvin County, Oklahoma.

	Washita Bend 3D Exploration Project, Oklahoma

	On March 1, 2010, the Company acquired a 5.00% working interest in Ranken Energy Corporation’s Washita Bend 3D Exploration Project. The BCP Interest is 5.625% and the ACP Interest is 5.00% on the first eight wells and then 5% before and after casing point on succeeding wells. At April 30, 2014, the total costs including seismic costs, was $882,583.

	As a result of seismic evaluation and analysis, eight initial prospects at the Washita Bend Project have been identified. Lucretia #1-14 was the first well drilled on May 14, 2013. This well was classified as a dry hole on May 27, 2013. On August 1, 2013, Karges #1-35 was also classified as a dry hole. On September 4, 2013, Carol #1-22 was plugged and abandoned. The costs of $148,391 associated therewith have been moved to proved properties. During November 2013, Bunch #1-17 started production, the costs of $76,890 have been moved to proved properties. On March 20, 2014, Hamilton 1-5 was plugged and abandoned. The costs of $44,793 associated therewith have been moved to proved properties.

	Double T Ranch#1 SWDW, Oklahoma

	On July 17, 2012, the Company acquired a 3.00% working interest in the drilling, completion and operations of the Double T Ranch#1 SWDW located in Garvin County from Ranken Energy Corporation. At April 30, 2014, the cost of the Double T Ranch#1 SWDW was $51,655.

	Kings City Prospect, California

	A Farmout agreement was made effective on May 25, 2009 between the Company and Sunset Exploration, Inc., to explore for oil and natural gas on 10,000 acres located in west central California. The Company paid $100,000 (50% pro rata share of $200,000) to earn a 20% working interest in project by funding a maximum of 50% of a $200,000 geophysical survey composed of gravity and seismic surveys and carry Sunset exploration for 33.33% of dry hole cost of the first well. Completions and drilling of this first well and completion of subsequent wells on the 10,000 acres will be proportionate to each party’s working interest. On April 15, 2013, the Company elected to plug and abandon this well. All costs associated with this well have been moved to the proved property pool for depletion. The total cost of the King City prospect as at April 30, 2014 was $406,766.

	South Wayne Prospect, Oklahoma

	On March 14, 2010, the Company acquired a 5.00% working interest in McPherson#1-1 well for a payment for leasehold, prospect and geophysical fees of $5,000, and dry hole costs of $32,370. The Company agreed to participate in the drilling operations to casing point in the initial test well of each prospect. The BCP Interest is 6.25% and the ACP Interest is 5.00%. The interests are located in McClain County, Oklahoma. The total cost of the South Wayne prospect as at April 30, 2014 was $61,085.

	Impairment

	Under the full cost method, the Company is subject to a ceiling test. This ceiling test determines whether there is an impairment to the proved properties. The impairment amount represents the excess of capitalized costs over the present value, discounted at 10%, of the estimated future net cash flows from the proven oil and gas reserves plus the cost, or estimated fair market value if lower, of unproved interests. There was $nil and $2,039 impairment cost for the six-month periods ended April 30, 2014 and 2013, respectively.

Depletion

Under the full cost method, depletion is computed on the units of production method based on proved reserves. Depletion expense recognized was $42,884 and $64,062 for the six-month periods ended April 30, 2014 and 2013, respectively.

Capitalized Costs

		April 30, 2014			October 31, 2013
Proved properties		$	2,003,576		$	2,186,940
Unproved properties			654,310			695,972
Total Proved and Unproved properties			2,657,886			2,882,912
Accumulated depletion expense			-906,980			-885,724
Impairment			-806,108			-828,136
Net capitalized cost		$	944,798		$	1,169,052

Results of Operations

Results of operations for oil and gas producing activities during the six-month periods ended are as follows:

		April 30, 2014			April 30, 2013
Revenues		$	104,517		$	122,558
Production costs			-20,102			-19,250
Depletion and accretion			-44,782			-65,716
Results of operations (excluding corporate overhead)		$	39,633		$	37,592

ASSET_RETIREMENT_OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	6 Months Ended
ASSET RETIREMENT OBLIGATIONS	Apr. 30, 2014
Asset Retirement Obligation Disclosure [Abstract]	'
Asset Retirement Obligation Disclosure [Text Block]	'
	5	ASSET RETIREMENT OBLIGATIONS

	The Company follows FASB ASC 410-20 “Accounting for Asset Retirement Obligations” which addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs. This policy requires recognition of the present value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. As of April 30, 2014 and October 31, 2013, the Company recognized the future cost to plug and abandon the gas wells over the estimated useful lives of the wells in accordance with “Accounting for Asset Retirement Obligations”. The liability for the fair value of an asset retirement obligation with a corresponding increase in the carrying value of the related long-lived asset is recorded at the time a well is completed and ready for production. The Company amortizes the amount added to the oil and gas properties and recognizes accretion expense in connection with the discounted liability over the remaining life of the respective well. The estimated liability is based on historical experience in plugging and abandoning wells, estimated useful lives based on engineering studies, external estimates as to the cost to plug and abandon wells in the future and federal and state regulatory requirements. The liability is a discounted liability using a credit-adjusted risk-free rate of 12%. Revisions to the liability could occur due to changes in plugging and abandonment costs, well useful lives or if federal or state regulators enact new guidance on the plugging and abandonment of wells.

	The Company amortizes the amount added to oil and gas properties and recognizes accretion expense in connection with the discounted liability over the remaining useful lives of the respective wells.

	The information below reflects the change in the asset retirement obligations during the six-month period ended April 30, 2014 and year ended October 31, 2013:

			April 30, 2014		October 31, 2013
	Balance, beginning of periods		$	31,636	$	27,554
	Liabilities assumed			-		-
	Revisions			-177		774
	Accretion expense			1,898		3,308
	Balance, end of periods		$	33,357	$	31,636

	The reclamation obligation relates to the Ard#1-36, Bagwell#1-20, Bagwell#2-20, Jackson#1-18, Miss Gracie#1-18, Joe Murray Farm, Gehrke#1-24 and Jack#1-13 at Oklahoma Properties, and McPherson#1-1 well at South Wayne Prospect. The present value of the reclamation liability may be subject to change based on management’s current estimates, changes in remediation technology or changes in applicable laws and regulations. Such changes will be recorded in the accounts of the Company as they occur.

CAPITAL_STOCK

CAPITAL STOCK	6 Months Ended
	Apr. 30, 2014
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
		6	CAPITAL STOCK

	PREFERRED STOCK

	The Company has authorized 25,000,000 shares of preferred stock. On February 10, 2012, the Company issued 500,001 Series A preferred stock at par value. The rights attached to these Series A preferred stock include:

		·	The holders of the Series A preferred stock can redeem their stock at a predetermined redemption price.

		·	The holders of the Series A Preferred Stock shall be entitled to elect one director of the Company in connection with each annual election of directors who shall be the designated “Series A Director”. With respect to any other matter submitted for a vote (or a written consent in lieu thereof) by the stockholders of the Company (except as to which the Series A Preferred Stock will be entitled to vote separately as a class), the holders of Series A Preferred Stock and the holders of the common stock, $0.001 par value of the Company (“Common Stock”) shall vote together as a single class and not as separate series.

		·	The Company shall not without first obtaining the approval (by vote or written consent, as provided by law) of the holders of a majority of the Series A Preferred Stock do any of the following:

	(a) amend, alter, or repeal any provision of the Articles of Incorporation or the Bylaws of the Company (including any filing of a Certificate of Designation) that alters or changes the voting powers, preferences, or other special rights or privileges, or restrictions of the Series A Preferred Stock;

	(b) increase or decrease the total number of authorized shares of Series A Preferred Stock;

	(c) authorize or issue, or obligate itself to issue, any other equity security, including any other security convertible into or exercisable for any other equity security, which has a preference over the Series A Preferred Stock with respect to voting, or authorize any increase in the authorized or designated number of any such security;

	(d) purchase or otherwise acquire any share or shares of Preferred Stock or Common Stock (or pay into or set aside for a sinking fund for such purpose); provided, however, that this restriction shall not apply to the repurchase of shares of Common Stock from employees, officers, directors, consultants or other persons performing services for the Company or any subsidiary pursuant to agreements under which the Company has the option to repurchase such shares at cost or at cost upon the occurrence of certain events, such as the termination of employment;

	(e) authorize the voluntary or involuntary dissolution, liquidation or winding-up of the Company;

	(f) pay any dividend or other distribution other than (i) in the case of the Common Stock, a dividend or distribution payable solely in Common Stock and (ii) any dividend or distribution the fair market value of which does not exceed 10% of the Company's aggregate net profits for the fiscal year of the Company in which such dividend is declared and the immediately preceding fiscal year;

	(g) cause the Company to enter into or engage, directly or indirectly, in any material respect any line of business other than the other than the business anticipated to be conducted by the Company as of the date of the first issuance of the Series A Preferred Stock; or

	(h) enter into any transaction with any officer, director or stockholder of the Company or any "affiliate" or "associate" (as such terms are defined in the regulations promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1940) of any such person or entity, other than normal employment arrangements and benefit programs on reasonable terms and other than any transaction (or series of related transactions) involving not more than $100,000 in the aggregate that has been approved by a majority of the Board of Directors (excluding any director who is interested in such transaction, either directly or through one of his affiliates or associates) after full disclosure of the terms thereof to the Board of Directors and after the determination by such majority of the Board of Directors.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Apr. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	7	RELATED PARTY TRANSACTIONS

	During the six-month periods ended April 30, 2014 and 2013, the Company entered into the following transactions with related parties:

		a)	The Company paid $42,000 (2013 - $42,000) to a related entity, for administration services.

		b)	The Company paid $81,000 (2013 - $81,000) in management fees to the director and President of the Company.

		c)	The Company paid $18,000 (2013 - $3,000) in consulting fee to the director of the Company.

MAJOR_CUSTOMERS

MAJOR CUSTOMERS	6 Months Ended
	Apr. 30, 2014
Major Customers [Abstract]	'
Major Customers [Text Block]	'
	8	MAJOR CUSTOMERS

	The Company collected $99,798 (2013: $116,153) or 95% (2013: 95%) of its revenues from one of its operators during the six-month period ended April 30, 2014. As of April 30, 2014, $14,422 (2013: $15,664) was due from this operator.

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Apr. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	9	CONTINGENCIES

	Hamm Litigation

	In September 2010, two lawsuits were filed in the District Court of Garvin County in the State of Oklahoma by Harold Hamm (“Hamm”) against certain defendants (“Defendants”) and consolidated together alleging, among other things, that Hamm owns an interest in two oil and gas leases in Garvin County and is entitled to a 50% participatory interest. The Company was not named as a party in these legal proceedings, but Hamm’s allegations include that he is entitled to a 50% participatory interest in the Joe Murray Farms well drilled as part of the 2009-3 Drilling Program, in which the Company purchased a 6.25% working interest before casing point and 5.0% working interest after casing point. The Defendants and the Company believe that there is no merit to Hamm’s allegations. In connection with these proceedings, the Defendants were ordered in January 2011 to escrow fifty percent (50%) of the revenues generated within the subject area pending the outcome of these proceedings. For this reason, fifty percent (50%) of the revenues the Company is entitled to that have been generated by production from the Joe Murray Farms well is being escrowed and there is no assurance that the Company will be able to recover these proceeds. The Company recognized $6,359 in revenue during the six-month period ended April 30, 2014, and $12,391 in revenue during the year ended October 31, 2013. As at April 30, 2014, revenue from the Joe Murray Farms totaling $189,321 has not been recognized as revenue and is being escrowed pending the outcome of these proceedings.

	Beckett Complaint

	In April 2013, Jeffrey R. Beckett, a shareholder of the Company, filed a lawsuit in the District Court of Washoe County, Nevada against the Company, its directors, Kenneth A. Cabianca and George Knight, and a principal of one of the Company’s consultants, Sarah Cabianca, generally alleging mismanagement of the Company’s affairs by the directors to the detriment of the Company and its shareholders (the “State Lawsuit”). The State Lawsuit seeks the issuance of an injunction, the appointment of a receiver and unspecified damages. In June 2013, Mr. Beckett filed a similar complaint against the same defendants in the United States District Court for the District of Nevada (the “Federal Lawsuit”). Sarah Cabianca has been dismissed from the State Lawsuit and the Federal Lawsuit has been dismissed. The Company believes the State Lawsuit has been improperly brought and lacks merit, and is vigorously defending the State Lawsuit.

ORGANIZATION_AND_SUMMARY_OF_SI1

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Apr. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Use of Estimates, Policy [Policy Text Block]	'
	USE OF ESTIMATES

	The preparation of financial statement in conformity with generally accepted accounting principles 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

	The oil and gas industry is subject, by its nature, to environmental hazards and clean-up costs. At this time, management knows of no substantial costs from environmental accidents or events for which the Company may be currently liable. In addition, the Company’s oil and gas business makes it vulnerable to changes in prices of crude oil and natural gas. Such prices have been volatile in the past and can be expected to be volatile in the future. By definition, proved reserves are based on current oil and gas prices and estimated reserves. Price declines reduce the estimated quantity of proved reserves and increase annual depletion expense (which is based on proved reserves).

Oil and Gas Interests Policy [Policy Text Block]	'
	OIL AND GAS INTERESTS

	The Company utilizes the full cost method of accounting for oil and gas activities. Under this method, subject to a limitation based on estimated value, all costs associated with property acquisition, exploration and development, including costs of unsuccessful exploration; are capitalized within a cost center. No gain or loss is recognized upon the sale or abandonment of undeveloped or producing oil and gas interests unless the sale represents a significant portion of oil and gas interests and the gain significantly alters the relationship between capitalized costs and proved oil and gas reserves of the cost center. Depreciation, depletion and amortization of oil and gas interests are computed on the units of production method based on proved reserves. Amortizable costs include estimates of future development costs of proved undeveloped reserves.

	Capitalized costs of oil and gas interests may not exceed an amount equal to the present value, discounted at 10%, of the estimated future net cash flows from proved oil and gas reserves plus the cost, or estimated fair market value, if lower, of unproved interests. Should capitalized costs exceed this ceiling, and impairment is recognized. The present value of estimated future net cash flows is computed by applying average prices, in the preceding twelve months, of oil and gas to estimated future production of proved oil and gas reserves as of year ends, less estimated future expenditures to be incurred in developing and producing the proved reserves and assuming continuation of existing economic conditions.

Revenue Recognition, Policy [Policy Text Block]	'
	REVENUE RECOGNITION

	Revenue from sales of crude oil, natural gas and refined petroleum products are recorded when deliveries have occurred and legal ownership of the commodity transfers to the customers. Title transfers for crude oil, natural gas and bulk refined products generally occur at pipeline custody points or when a tanker lifting has occurred. Revenues from the production of oil and natural gas properties in which the Company shares an undivided interest with other producers are recognized based on the actual volumes sold by the Company during the period. Gas imbalances occur when the Company’s actual sales differ from its entitlement under existing working interests. The Company records a liability for gas imbalances when it has sold more than its working interest of gas production and the estimated remaining reserves make it doubtful that the partners can recoup their share of production from the field. At April 30, 2014 and 2013, the Company had no overproduced imbalances.

Trade and Other Accounts Receivable, Policy [Policy Text Block]	'
	ACCOUNTS RECEIVABLE

	Accounts receivable are carried at net receivable amounts less an estimate for doubtful accounts. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history, and current economic conditions. Trade receivables are written off when deemed uncollectible. Recoveries of receivables previously written off are recorded when received.

Property, Plant and Equipment, Policy [Policy Text Block]	'
	OTHER EQUIPMENT

	Computer equipment is stated at cost. Provision for depreciation on computer equipment is calculated using the straight-line method over the estimated useful life of three years.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	'
	IMPAIRMENT OF LONG-LIVED ASSETS

	The Company has adopted FASB ASC 360 “Accounting for the Impairment or Disposal of Long-Lived Assets", which requires that long-lived assets to be held and used be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Oil and gas interests accounted for under the full cost method are subject to a ceiling test, described above, and are excluded from this requirement.

Asset Retirement Obligations, Policy [Policy Text Block]	'
	ASSET RETIREMENT OBLIGATIONS

	The Company follows FASB ASC 410-20 "Accounting for Asset Retirement Obligations", which addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs.

	FASB ASC 410-20 requires recognition of the present value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. The liability is capitalized as part of the related long-lived asset's carrying amount.

	Over time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. The Company's asset retirement obligations are related to the plugging, dismantlement, removal, site reclamation and similar activities of its oil and gas exploration activities.

Earnings Per Share, Policy [Policy Text Block]	'
	INCOME / (LOSS) PER SHARE

	Basic income/(loss) per share is computed based on the weighted average number of common shares outstanding during each year. The computation of diluted earnings per share assumes the conversion, exercise or contingent issuance of securities only when such conversion, exercise or issuance would have the dilutive effect on income/(loss) per share. The dilutive effect of outstanding options was nil as of April 30, 2014 and 2013.

	The table below presents the computation of basic and diluted earnings per share for the six-month periods ended April 30, 2014 and 2013:

		April 30, 2014		April 30, 2013
	Basic earnings per share computation:

	(Loss) from continuing operations	$	-195,108	$	-275,824
	Basic shares outstanding		24,629,832		24,629,832
	Basic earnings per share	$	-0.01	$	-0.01

Income Tax, Policy [Policy Text Block]	'
	INCOME TAXES

	Deferred tax assets and liabilities are recognized for temporary differences between the financial reporting and tax bases of the firm’s assets and liabilities. Valuation allowances are established to reduce deferred tax assets to the amount that more likely than not will be realized. The firm’s tax assets and liabilities, if any, are presented as a component of “Other assets” and “Other liabilities and accrued expenses,” respectively, in the balance sheet. Tax provisions are computed in accordance with FASB ASC 740, “Accounting for Income Taxes”.

	The Company applies the provisions of FASB ASC 740-10 “Accounting for Uncertainty in Income Taxes — an Interpretation”. A tax position can be recognized in the financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. A liability is established for differences between positions taken in a tax return and amounts recognized in the financial statements. FASB ASC 740-10 also provides guidance on de-recognition, classification, interim period accounting and accounting for interest and penalties.

Cash and Cash Equivalents, Policy [Policy Text Block]	'
	CASH EQUIVALENTS

	For purposes of reporting cash flows, the Company considers as cash equivalents all highly liquid investments with a maturity of three months or less at the time of purchase. On occasion, the Company may have cash balances in excess of federally insured amounts.

Investment, Policy [Policy Text Block]	'
	MARKETABLE SECURITIES AND INVESTMENTS

	All equity Investments are classified as available for sale and any subsequent changes in the fair value are recorded in comprehensive income. If in the opinion of management there has been a decline in the value of the investment below the carrying value that is considered to be other than temporary, the valuation adjustment is recorded in net earnings in the period of determination. The fair value of the investments is based on the quoted market price on the closing date of the period.

Fair Value of Financial Instruments, Policy [Policy Text Block]	'
	FAIR VALUE

	The Company adopted FASB ASC 820-10-50, “Fair Value Measurements”. This guidance defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows:

	Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

	Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

	Level 3 inputs to valuation methodology are unobservable and significant to the fair measurement.

	The carrying amounts reported in the balance sheets for the cash and cash equivalents, investments in certificates of deposits, receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. Marketable securities are valued using Level 1 inputs.

Concentration Risk, Credit Risk, Policy [Policy Text Block]	'
	CONCENTRATION OF CREDIT RISK

	Financial instruments which potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, investments in certificates of deposit and accounts receivable. The Company maintains cash at one financial institution. The Company periodically evaluates the credit worthiness of financial institutions, and maintains cash accounts only in large high quality financial institutions, thereby minimizing exposure for deposits in excess of federally insured amounts. The Company believes credit risk associated with cash and cash equivalents to be minimal.

	The Company has recorded trade accounts receivable from the business operations. Management periodically evaluates the collectability of the trade receivables and believes that the Company’s receivables are fully collectable and that the risk of loss is minimal.

New Accounting Pronouncements, Policy [Policy Text Block]	'
	RECENT ACCOUNTING PRONOUNCEMENTS

	On February 5, 2013, the FASB issued ASU 2013-02, which requires entities to disclose the following additional information about items reclassified out of accumulated other comprehensive income (AOCI): (1) changes in AOCI balances by component, (2) significant items reclassified out of AOCI by component either on the face of the income statement or as a separate footnote to the financial statements. For public entities, the ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. The adoption of this ASU did not have a material impact on the financial statements of the Company.

Going Concern Policy [Policy Text Block]	'
	GOING CONCERN

	The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

	As shown in the accompanying financial statements, the Company has incurred a net loss of $1,398,859 since inception. To achieve profitable operations, the Company requires additional capital for obtaining producing oil and gas properties through either the purchase of producing wells or successful exploration activity. Management believes that sufficient funding will be available to meet its business objectives including anticipated cash needs for working capital and is currently evaluating several financing options. However, there can be no assurance that the Company will be able to obtain sufficient funds to continue the development of its properties and, if successful, to commence the sale of its projects under development. As a result of the foregoing, there exists substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

ORGANIZATION_AND_SUMMARY_OF_SI2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Apr. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
	The table below presents the computation of basic and diluted earnings per share for the six-month periods ended April 30, 2014 and 2013:

		April 30, 2014		April 30, 2013
	Basic earnings per share computation:

	(Loss) from continuing operations	$	-195,108	$	-275,824
	Basic shares outstanding		24,629,832		24,629,832
	Basic earnings per share	$	-0.01	$	-0.01

ACCOUNTS_RECEIVABLE_Tables

ACCOUNTS RECEIVABLE (Tables)	6 Months Ended
ACCOUNTS RECEIVABLE (Tables)	Apr. 30, 2014
Receivables [Abstract]	'
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	'
	Accordingly, no allowance for doubtful accounts or bad debt expense has been recorded.

		April 30, 2014		October 31, 2013
	Accounts receivable	$	17,768	$	35,760
	Less: allowance for doubtful account		-		-
		$	17,768	$	35,760

OIL_AND_GAS_INTERESTS_Tables

OIL AND GAS INTERESTS (Tables)	6 Months Ended
OIL AND GAS INTERESTS (Tables)	Apr. 30, 2014
Oil and Gas Interests Abstract [Abstract]	'
Schedule of Exploratory Wells Drilled [Table Text Block]	'
	The Company holds the following oil and natural gas interests:

		April 30, 2014		October 31, 2013
	2008-3 Drilling Program, Oklahoma	$	309,152	$	309,152
	2009-2 Drilling Program, Oklahoma		114,420		114,420
	2009-3 Drilling Program, Oklahoma		353,399		349,320
	2009-4 Drilling Program, Oklahoma		190,182		190,182
	2010-1 Drilling Program, Oklahoma		-48,138		270,665
	Washita Bend 3D, Oklahoma		882,583		793,551
	Double T Ranch #1 SWDW, Oklahoma		51,655		50,812
	Kings City Prospect, California		406,766		406,766
	South Wayne Prospect, Oklahoma		61,085		61,085
	PP F-12-2, PP F-12-3, PP F-12-4 and PP F-52, Mississippi		-222,123		-222,123
	Three Sands Project, Oklahoma		555,715		555,715
	Asset retirement cost		3,190		3,367
	Less: Accumulated depletion and impairment		-1,713,088		-1,713,860
		$	944,798	$	1,169,052

Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block]	'
	Capitalized Costs

		April 30, 2014		October 31, 2013
	Proved properties	$	2,003,576	$	2,186,940
	Unproved properties		654,310		695,972
	Total Proved and Unproved properties		2,657,886		2,882,912
	Accumulated depletion expense		-906,980		-885,724
	Impairment		-806,108		-828,136
	Net capitalized cost	$	944,798	$	1,169,052

Results of Operations for Oil and Gas Producing Activities Disclosure [Table Text Block]	'
	Results of operations for oil and gas producing activities during the six-month periods ended are as follows:

		April 30, 2014		April 30, 2013
	Revenues	$	104,517	$	122,558
	Production costs		-20,102		-19,250
	Depletion and accretion		-44,782		-65,716
	Results of operations (excluding corporate overhead)	$	39,633	$	37,592

ASSET_RETIREMENT_OBLIGATIONS_T

ASSET RETIREMENT OBLIGATIONS (Tables)	6 Months Ended
ASSET RETIREMENT OBLIGATIONS (Tables)	Apr. 30, 2014
Asset Retirement Obligation Disclosure [Abstract]	'
Schedule of Change in Asset Retirement Obligation [Table Text Block]	'
	The information below reflects the change in the asset retirement obligations during the six-month period ended April 30, 2014 and year ended October 31, 2013:

		April 30, 2014		October 31, 2013
	Balance, beginning of periods	$	31,636	$	27,554
	Liabilities assumed		-		-
	Revisions		-177		774
	Accretion expense		1,898		3,308
	Balance, end of periods	$	33,357	$	31,636

ORGANIZATION_AND_SUMMARY_OF_SI3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended		6 Months Ended
	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014	Apr. 30, 2013
Basic earnings per share computation:	'	'	'	'
(Loss) from continuing operations	($109,605)	($136,019)	($195,108)	($275,824)
Basic shares outstanding (in shares)	24,629,832	24,629,832	24,629,832	24,629,832
Basic earnings per share (in dollars per share)	$0	($0.01)	($0.01)	($0.01)

ORGANIZATION_AND_SUMMARY_OF_SI4

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (USD $)	6 Months Ended
	Apr. 30, 2014	Oct. 31, 2013
Capitalized Costs, Oil and Gas Producing Activities, Discounted Percentage	10.00%	'
Retained Earnings (Accumulated Deficit), Total	($1,398,859)	($1,203,751)

MARKETABLE_SECURITIES_Details_

MARKETABLE SECURITIES (Details Textual) (USD $)	1 Months Ended	6 Months Ended
MARKETABLE SECURITIES (Details Textual) (USD $)	Aug. 31, 2011	Apr. 30, 2014	Apr. 30, 2013	Oct. 31, 2013
Marketable Securities Number Of Shares (in shares)	800,000	'	'	'
Marketable Securities Par Or Stated Value Per Share	$0.34	$0.27	'	$0.06
Marketable Securities, Unrealized Gain (Loss)	'	$172,800	$0	'

ACCOUNTS_RECEIVABLE_Details

ACCOUNTS RECEIVABLE (Details) (USD $)	Apr. 30, 2014	Oct. 31, 2013
Accounts receivable	$17,768	$35,760
Less: allowance for doubtful account	0	0
Accounts Receivable, Net, Current	$17,768	$35,760

OIL_AND_GAS_INTERESTS_Details

OIL AND GAS INTERESTS (Details) (USD $)	Apr. 30, 2014	Oct. 31, 2013
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Asset retirement cost	$3,190	$3,367
Less: Accumulated depletion and impairment	-1,713,088	-1,713,860
Oil and Gas Property, Full Cost Method, Net	944,798	1,169,052
2008-3 Drilling Program, Oklahoma [Member]	'	'
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Oil and Gas Property, Full Cost Method, Gross	309,152	309,152
2009-2 Drilling Program, Oklahoma [Member]	'	'
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Oil and Gas Property, Full Cost Method, Gross	114,420	114,420
2009-3 Drilling Program, Oklahoma [Member]	'	'
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Oil and Gas Property, Full Cost Method, Gross	353,399	349,320
2009-4 Drilling Program, Oklahoma [Member]	'	'
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Oil and Gas Property, Full Cost Method, Gross	190,182	190,182
2010-1 Drilling Program, Oklahoma [Member]	'	'
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Oil and Gas Property, Full Cost Method, Gross	-48,138	270,665
Washita Bend 3D, Oklahoma [Member]	'	'
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Oil and Gas Property, Full Cost Method, Gross	882,583	793,551
Double T Ranch #1 SWDW, Oklahoma [Member]	'	'
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Oil and Gas Property, Full Cost Method, Gross	51,655	50,812
Kings City Prospect California [Member]	'	'
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Oil and Gas Property, Full Cost Method, Gross	406,766	406,766
South Wayne Prospect, Oklahoma [Member]	'	'
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Oil and Gas Property, Full Cost Method, Gross	61,085	61,085
PP F-12-2, PP F-12-3, PP F-12-4 and PP F-52, Mississippi [Member]	'	'
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Oil and Gas Property, Full Cost Method, Gross	-222,123	-222,123
Three Sands Project, Oklahoma [Member]	'	'
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]	'	'
Oil and Gas Property, Full Cost Method, Gross	$555,715	$555,715

OIL_AND_GAS_INTERESTS_Details_

OIL AND GAS INTERESTS (Details 1) (USD $)	Apr. 30, 2014	Oct. 31, 2013
Proved properties	$2,003,576	$2,186,940
Unproved properties	654,310	695,972
Total Proved and Unproved properties	2,657,886	2,882,912
Accumulated depletion expense	-906,980	-885,724
Impairment	-806,108	-828,136
Net capitalized cost	$944,798	$1,169,052

OIL_AND_GAS_INTERESTS_Details_1

OIL AND GAS INTERESTS (Details 2) (USD $)	6 Months Ended
OIL AND GAS INTERESTS (Details 2) (USD $)	Apr. 30, 2014	Apr. 30, 2013
Revenues	$104,517	$122,558
Production costs	-20,102	-19,250
Depletion and accretion	-44,782	-65,716
Results of operations (excluding corporate overhead)	$39,633	$37,592

OIL_AND_GAS_INTERESTS_Details_2

OIL AND GAS INTERESTS (Details Textual) (USD $)

3 Months Ended

6 Months Ended

12 Months Ended

Apr. 30, 2014

Apr. 30, 2013

Apr. 30, 2014

Apr. 30, 2013

Oct. 31, 2013

Jan. 31, 2009

Jan. 12, 2009

Jun. 19, 2009

Jul. 31, 2009

Aug. 12, 2009

Oct. 31, 2009

Dec. 19, 2009

Jan. 31, 2010

Apr. 30, 2014

Apr. 23, 2010

Apr. 30, 2014

Mar. 20, 2014

Oct. 31, 2013

Mar. 01, 2010

Apr. 30, 2010

Jul. 17, 2012

Oct. 31, 2009

25-May-09

Oct. 31, 2010

Mar. 14, 2010

Oct. 31, 2010

After Casing Point [Member]

Before Casing Point [Member]

2008-3 Drilling Program, Oklahoma [Member]

2009-2 Drilling Program, Oklahoma [Member]

2009-3 Drilling Program, Oklahoma [Member]

2009-4 Drilling Program, Oklahoma [Member]

2010-1 Drilling Program, Oklahoma [Member]

Washita Bend Oklahoma [Member]

Double T Ranch 1 Swdw, Oklahoma [Member]

Kings City Prospect California [Member]

South Wayne Prospect Oklahoma [Member]

After Casing Point [Member]

Before Casing Point [Member]

After Casing Point [Member]

Before Casing Point [Member]

After Casing Point [Member]

Before Casing Point [Member]

After Casing Point [Member]

Before Casing Point [Member]

After Casing Point [Member]

Before Casing Point [Member]

After Casing Point [Member]

Before Casing Point [Member]

Business Acquisition, Percentage of Voting Interests Acquired

5.00%

6.25%

5.00%

6.25%

5.00%

6.25%

5.00%

6.25%

5.00%

6.25%

5.00%

5.63%

3.00%

20.00%

5.00%

6.25%

Description Of Land Allocated For Exploration

'10,000 acres located in west central California

Percentage Of Costs Incurred To Explore and Develop Oil and Gas Properties

50.00%

Costs Incurred To Explore and Develop Oil and Gas Properties

$200,000

Dry Hole Cost Of Exploration Projects

32,370

Dry Hole Cost Of Exploration Projects, Percentage

33.33%

Payment For Lease Hold Prospect and Geophysical Fees

5,000

Payments to Explore and Develop Oil and Gas Properties

100,000

Depletion, Total

42,884

64,062

Impairment Of Proved Properties Discounted Rate

10.00%

Impairment of Oil and Gas Properties

2,039

Capitalized Costs, Proved Properties

2,003,576

2,186,940

76,890

44,793

148,391

Proceeds From Sale Of Oil and Gas Property and Equipment

$275,148

$275,147

Percentage of Oil and Gas Property and Equipment, Sold

100.00%

ASSET_RETIREMENT_OBLIGATIONS_D

ASSET RETIREMENT OBLIGATIONS (Details) (USD $)	6 Months Ended	12 Months Ended
ASSET RETIREMENT OBLIGATIONS (Details) (USD $)	Apr. 30, 2014	Oct. 31, 2013
Asset Retirement Obligation [Line Items]	'	'
Balance, beginning of periods	$31,636	$27,554
Liabilities assumed	0	0
Revisions	-177	774
Accretion expense	1,898	3,308
Balance, end of periods	$33,357	$31,636

ASSET_RETIREMENT_OBLIGATIONS_D1

ASSET RETIREMENT OBLIGATIONS (Details Textual)	6 Months Ended
ASSET RETIREMENT OBLIGATIONS (Details Textual)	Apr. 30, 2014
Asset Retirement Obligation [Line Items]	'
Liability, Weighted Average Risk Free Discount Rate	12.00%

CAPITAL_STOCK_Details_Textual

CAPITAL STOCK (Details Textual) (USD $)	6 Months Ended
CAPITAL STOCK (Details Textual) (USD $)	Apr. 30, 2014	Oct. 31, 2013	Feb. 10, 2012
Class of Stock [Line Items]	'	'	'
Preferred Stock, Shares Authorized (in shares)	25,000,000	25,000,000	'
Preferred Stock, Par Or Stated Value Per Share (in dollars per share)	$0.00	$0.00	'
Series A Preferred Stock [Member]	'	'	'
Class of Stock [Line Items]	'	'	'
Preferred Stock, Shares Authorized (in shares)	1,000,000	1,000,000	'
Preferred Stock, Shares Issued (in shares)	500,001	500,001	500,001
Preferred Stock, Par Or Stated Value Per Share (in dollars per share)	$0.00	$0.00	'
Common Stock, Dividend Rate, Percentage, Maximum	10.00%	'	'
Related Party Transaction Maximum Amounts Of Transaction	$100,000	'	'

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details Textual) (USD $)	6 Months Ended
RELATED PARTY TRANSACTIONS (Details Textual) (USD $)	Apr. 30, 2014	Apr. 30, 2013
Affiliated Entity [Member]	'	'
Related Party Transaction [Line Items]	'	'
Related Party Transaction, Amounts of Transaction	$42,000	$42,000
Director and President [Member]	'	'
Related Party Transaction [Line Items]	'	'
Related Party Transaction, Amounts of Transaction	81,000	81,000
Director [Member]	'	'
Related Party Transaction [Line Items]	'	'
Related Party Transaction, Amounts of Transaction	$18,000	$3,000

MAJOR_CUSTOMERS_Details_Textua

MAJOR CUSTOMERS (Details Textual) (USD $)	6 Months Ended
MAJOR CUSTOMERS (Details Textual) (USD $)	Apr. 30, 2014	Apr. 30, 2013
Revenue, Major Customer [Line Items]	'	'
Due From Major Customer, Amount	14,422	15,664
Sales [Member]	'	'
Revenue, Major Customer [Line Items]	'	'
Concentration Risk, Percentage	95.00%	95.00%
Major Customer [Member]	'	'
Revenue, Major Customer [Line Items]	'	'
Revenues	99,798	116,153

CONTINGENCIES_Details_Textual

CONTINGENCIES (Details Textual) (USD $)	3 Months Ended		6 Months Ended			12 Months Ended	6 Months Ended
	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014	Oct. 31, 2013	Apr. 30, 2014	Apr. 30, 2014
					Drilling Program Oklahoma Three [Member]	Drilling Program Oklahoma Three [Member]	Drilling Program Oklahoma Three [Member]	Drilling Program Oklahoma Three [Member]
							Before Casing Point Interest Percentage [Member]	After Casing Point Interest Percentage [Member]
Contingencies [Line Items]	'	'	'	'	'	'	'	'
Cost Method Investment Ownership Percentage (in percentage)	'	'	'	'	'	'	6.25%	5.00%
Percentage Of Pending Outcome Of Legal Proceedings (in percentage)	'	'	'	'	50.00%	'	'	'
Oil and Gas Revenue	$20,952	$58,182	$104,517	$122,558	$6,359	$12,391	'	'
Oil and Gas Revenue Unrecognized	'	'	'	'	$189,321	'	'	'