T-rex Oil 10-Q 19 Nov 14 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Sep. 30, 2014	Nov. 13, 2014
Document And Entity Information	'	'
Entity Registrant Name	'RANCHER ENERGY CORP.	'
Entity Central Index Key	'0001287900	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--03-31	'
Is Entity a Well-known Seasoned Issuer	'No	'
Is Entity a Voluntary Filer	'No	'
Is Entity's Reporting Status Current	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	714,722
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2015	'

Balance_Sheets

Balance Sheets (USD $)	Sep. 30, 2014	Mar. 31, 2014
Current Assets:	'	'
Cash and cash equivalents	$2,421,016	$344,098
Other	9,193	36,768
Total current assets	2,430,209	380,866
Assets held for sale	'	1,142,237
Furniture and equipment, net of accumulated depreciation of $337,682 and $232,108 respectively	'	105,574
Deposits and other assets	100,000	100,000
Total other assets	100,000	205,574
Total assets	2,530,209	1,728,677
Current liabilities	'	'
Accounts payable and accrued liabilities	'	49,583
Total current liabilities	'	49,583
Total liabilities	'	49,583
Stockholders' Equity	'	'
Common stock, $0.00001 par value; 275,000,000 shares authorized, 249,714,147 and 119,862,791 shares issued and outstanding, respectively	2,498	1,200
Additional paid-in capital	94,520,061	93,209,942
Accumulated deficit	-91,992,350	-91,532,048
Total stockholders' equity	2,530,209	1,679,094
Total liabilities and stockholders' equity	$2,530,209	$1,728,677

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Mar. 31, 2014
Balance Sheets	'	'
Furniture and equipment, accumulated depreciation	$337,682	$232,108
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	275,000,000	275,000,000
Common stock, shares issued	249,714,147	119,862,791
Common stock, shares outstanding	249,714,147	119,862,791

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended				6 Months Ended
	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Statements of Operations	'		'		'		'
Revenue	'		'		'		'
Operating expenses:	'		'		'		'
General and administrative expenses	188,005		201,829		355,206		342,535
Depreciation and amortization	4,168		8,316		12,502		16,632
Total operating expenses	192,173		210,145		367,708		359,167
Loss from operations	-192,173		-210,145		-367,708		-359,167
Other income (expense):	'		'		'		'
Interest income	301		724		477		1,288
Loss on disposition of assets	-93,071		'		-93,071		'
Total other income (expense)	-92,770		724		-92,594		1,288
Net loss	($284,943)		($209,421)		($460,302)		($357,879)
Basic and diluted net loss per share	$0	[1]	$0	[1]	$0	[1]	$0	[1]
Basic and diluted weighted average pre-reverse shares outstanding	184,788,469		119,862,791		152,503,023		119,862,791
[1]	* Less than $0.01 per share. Net loss not adjusted for 350 to 1 reverse split effective in October 2014.

Statements_of_Operations_Paren

Statements of Operations (Parenthetical)	3 Months Ended		6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statements of Operations	'	'	'	'
Reverse stock split ratio (as a percent)	350	350	350	350

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	3 Months Ended	6 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013
Cash flows used in operating activities:	'	'	'
Net loss	($284,943)	($460,302)	($357,879)
Adjustments to reconcile net loss from operations to cash used in operating activities:	'	'	'
Stock based compensation	7,723	11,417	'
Write off of worthless assets	93,071	93,071	'
Depreciation and amortization	'	12,502	16,632
Changes in operating assets and liabilities:	'	'	'
Other	'	27,576	28,428
Accounts payable and accrued liabilities	'	-49,583	8,713
Net cash used in operating activities	'	-365,319	-304,106
Cash flows from investing activities	'	'	'
Proceeds from disposition of assets held for sale	'	1,142,237	'
Net cash from investing activities	'	1,142,237	'
Cash flows from financing activities:	'	'	'
Sale of common shares	'	1,300,000	'
Net cash from financing activities	'	1,300,000	'
Increase (decrease) in cash and cash equivalents	'	2,076,918	-304,106
Cash and cash equivalents, beginning of period	'	344,098	2,076,720
Cash and cash equivalents, end of period	2,421,016	2,421,016	1,772,614
SUPPLEMENTAL SCHEDULE OF CASHFLOW INFORMATION	'	'	'
Cash paid for interest	'	'	'
Cash paid for taxes	'	'	'

Statement_of_Changes_in_Stockh

Statement of Changes in Stockholders' Equity (USD $)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]
Balance at the beginning of the period, Amount at Mar. 31, 2014	$1,679,094	$1,200	$93,209,942	($91,532,048)
Balance at the beginning of the period, Shares at Mar. 31, 2014	'	119,862,791	'	'
Sale of shares for cash	1,300,000	1,298	1,298,702	'
Sale of shares for cash (In shares)	'	129,851,356	'	'
Stock based compensation	11,417	'	11,417	'
Net loss for the period	-460,302	'	'	-460,302
Balance at the end of the period, Amount at Sep. 30, 2014	$2,530,209	$2,498	$94,520,061	($91,992,350)
Balance at the end of the period, Shares at Sep. 30, 2014	'	249,714,147	'	'

Business_Organization

Business Organization	6 Months Ended
	Sep. 30, 2014
Business Organization [Abstract]	'
Business Organization	'
	Note 1 – Business Organization
	Organization
	T-Rex Oil, Inc. (formerly Rancher Energy Corp.) (“T-Rex Oil” or the “Company”) was incorporated in Colorado on September 2, 2014. See Note 9 – Subsequent Events.
	The Company's business operations are in the development, production, and low risk exploration of oil and gas including unconventional natural gas, in the Rocky Mountain region of the continental United States; specifically, in the Rocky Mountain area of Utah, Colorado, Montana and Wyoming, and some Mid Continent areas.
	On August 19, 2014, the Company sold 129,851,356 pre-reverse shares of its restricted common stock to Texas Energy Corporation (“TEC”), a privately owned Colorado corporation, for $1,300,000 and therefore, as of September 30, 2014, TEC owns 52% of the issued and outstanding shares of common stock of the Company. See Note 7 – Purchase Agreement.

Summary_of_Significant_Account

Summary of Significant Account Policies	6 Months Ended
	Sep. 30, 2014
Summary of Significant Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Note 2 – Summary of Significant Accounting Policies
	Use of Estimates in the Preparation of Financial Statements
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
	Change in Accounting Principle
	The Company has disclosed in its financial statements for the years ended March 31 2014 and 2013 and for the three months ended June 30, 2014 that it followed the successful efforts method of accounting for its oil and natural gas operations. However, during such periods, the Company had no assets, liabilities, revenues or costs associated with its oil and natural gas operations under ASC Topic 932 as the Company had totally disposed of all of its oil and natural gas properties during the year ended March 31, 2012. Effective July 1, 2014, the Company will be following the full cost method accounting for its oil and natural gas operations. Pursuant with ASC Topic 250, there are is no retroactive restatement of prior financial information as there were no oil and natural gas capitalized costs or operations incurred by the Company since April 1, 2012.
	Cash and Cash Equivalents
	The Company considers all liquid investments purchased with an initial maturity of three months or less to be cash equivalents. Cash and cash equivalents include demand deposits and money market funds carried at cost which approximates fair value. The Company maintains its cash in institutions insured by the Federal Deposit Insurance Corporation (“FDIC”), although such deposits are in excess of the insurance coverage. At September 30, 2014, the Company had $1,921,016 in cash deposits in excess of FDIC insured limits.
	Oil and Gas Producing Activities
	The Company follows the full cost method of accounting for oil and natural gas operations. Under this method all productive and nonproductive costs incurred in connection with the acquisition, exploration, and development of oil and natural gas reserves are capitalized. No gains or losses are recognized upon the sale or other disposition of oil and natural gas properties except in transactions that would significantly alter the relationship between capitalized costs and proved reserves. Unproved properties with significant acquisition costs are assessed annually on a property-by-property basis and any impairment in value is charged to expense. If the unproved properties are determined to be productive, the related costs are transferred to proved oil and natural gas properties and are depleted. Proceeds from sales of partial interests in unproved leases are accounted for as a recovery of cost without recognizing any gain or loss until all costs have been recovered. The costs of unproved oil and natural gas properties are excluded from the amortizable base until the time that either proven reserves are found or it has been determined that such properties are impaired. As properties become proved, the related costs transfer to proved oil and natural gas properties using full cost accounting. There were no proved or unproved capitalized costs at September 30, 2014 and March 31, 2014, respectively and the Company did not expense any capitalized costs for the three and six months ended September 30, 2014 and 2013, respectively.
	The Company performs a quarterly “ceiling test” calculation to test its oil and gas properties for possible impairment. The primary components impacting this calculation are commodity prices, reserve quantities added and produced, overall exploration and development costs, depletion expense, and tax effects. If the net capitalized cost of the Company's oil and gas properties subject to amortization (the carrying value) exceeds the ceiling limitation, the excess would be charged to expense. The ceiling limitation is equal to the sum of the present value discounted at 10% of estimated future net cash flows from proved reserves, the cost of properties not being amortized, the lower of cost or estimated fair value of unproved properties included in the costs being amortized, and all related tax effects.
	Property and Equipment
	Other property and equipment, such as computer hardware and software, are recorded at cost. Costs of renewals and improvements that substantially extend the useful lives of the assets are capitalized. Maintenance and repair costs are expensed when incurred. When other property and equipment is sold or retired, the capitalized costs and related accumulated depreciation are removed from their respective accounts.
	DD&A
	Depreciation of other property and equipment is calculated using the straight-line method over the estimated useful lives of the assets from five to ten years
	Depreciation, depletion and amortization of capitalized acquisition, exploration and development costs incurred in oil and gas producing activities are computed using the units-of-production method by individual fields on the basis of the total estimated units of proved reserves as the related proved reserves are produced.
	Depreciation expense of other property and equipment for the three and six months ended September 30, 2014 and 2013 was $4,168 and $8,316 and $12,502 and $16,632 respectively. During the three months ended September 30, 2014, the Company retired its computer hardware and software and as a result recorded an expense of $93,071 in the statement of operations for the three and six months ended September 30, 2014
	Impairment of Long-Lived Assets
	In accordance with authoritative guidance on accounting for the impairment or disposal of long-lived assets, as set forth in Topic 360 of the ASC, the Company assesses the recoverability of the carrying value of its non-oil and gas long-lived assets when events occur that indicate an impairment in value may exist. An impairment loss is indicated if the sum of the expected undiscounted future net cash flows is less than the carrying amount of the assets. If this occurs, an impairment loss is recognized for the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. No events occurred during the three and six months ended September 30, 2014 and 2013, respectively that would be indicative of possible impairment.
	Revenue Recognition
	The Company currently has no revenue from operations although during the three and six months ended September 30, 2014 and 2013, respectively the Company did have a nominal amount of interest received from financial institutions for funds on deposit.
	Income Taxes
	The Company uses the liability method of accounting for income taxes under which deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the accounting bases and the tax bases of the Company's assets and liabilities. The deferred tax assets and liabilities are computed using enacted tax rates in effect for the year in which the temporary differences are expected to reverse.
	The Company assessed the likelihood of utilization of the deferred tax assets in light of recent and expected continuing losses and an event that occurred during the three months ended September 30, 2014. On August 18, 2014, the Company sold 52% ownership in the Company to an unrelated party and as such the Company's net operating loss carryforwards are affected by the tax limitations under section 382 of the Internal Revenue Code. As a result, the Company is only allowed to utilize annually $78,500 of net operating loss carryforwards in affect at August 18, 2014 against future income until such carryforwards expire. Therefore, based upon this review and the impact of the tax limitations, the deferred tax asset of $31,265,000 has been fully reserved at September 30, 2014. At September 30, 2014, the Company had net operating loss carryforwards of approximately $85,000,000 that begin to expire in the year 2023.
	The Company adopted the provisions of ASC 740, “Income Taxes” on April 1, 2007. FASB ASC 740 provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized upon the adoption of FASB ASC 740 and in subsequent periods. The adoption of ASC 740 had an immaterial impact on the Company's financial position and did not result in unrecognized tax benefits being recorded. Subsequent to adoption, there have been no changes to the Company's assessment of uncertain tax positions. Accordingly, no corresponding interest and penalties have been accrued. The Company's policy is to recognize penalties and interest, if any, related to uncertain tax positions as general and administrative expense. The Company files income tax returns in the U.S. Federal jurisdiction and various states.
	Net Loss per Share
	Basic net loss per common share of stock is calculated by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding during each period.
	Diluted net loss per common share is calculated by dividing net loss by the weighted-average number of common shares outstanding, including the effect of other dilutive securities. The Company's potentially dilutive securities consist of in-the-money outstanding options and warrants to purchase the Company's common stock. Diluted net loss per common share does not give effect to dilutive securities as their effect would be anti-dilutive. Net loss not adjusted for 350 to 1 reverse split effective in October 2014.
	The treasury stock method is used to measure the dilutive impact of stock options and warrants. The following table details the weighted-average pre-reverse dilutive and anti-dilutive pre-reverse securities related to stock options and warrants for the periods presented:
		For the Six Months Ended
		September 30,
		2014		2013
	Dilutive		-		-
	Anti-dilutive		14,375,000		1,507,171
	Share-Based Payments
	The Company recognizes compensation cost for stock-based awards based on estimated fair value of the award and records compensation expense over the requisite service period. See Note 6 - Share-Based Compensation.
	Comprehensive Loss
	The Company does not have revenue, expenses, gains or losses that are reflected in equity rather than in results of operations. Consequently, for all periods presented, comprehensive loss is equal to net loss.
	Major Customers
	The Company has no operations during the three and six months ended September 30, 2014 and 2013 and as a result no customers or billings.
	Off-Balance Sheet Arrangements
	As part of its ongoing business, the Company has not participated in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities (SPEs), which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes. From its incorporation on February 4, 2004 through September 30, 2014, the Company has not been involved in any unconsolidated SPE transactions.
	Reclassification
	Certain amounts in the prior period financial statements have been reclassified to conform to the current period financial statement presentation. Such reclassifications had no effect on the Company's net loss.
	Recent Accounting Pronouncements
	The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

Assets_Held_for_Sale

Assets Held for Sale	6 Months Ended
	Sep. 30, 2014
Assets Held for Sale [Abstract]	'
Assets Held for Sale	'
	Note 3 – Assets Held for Sale
	On October 3, 2013, the Company entered into a Participation Agreement with PetroShare Corp., a privately-held Colorado corporation not affiliated with the Company (“PetroShare”), for the purposes of drilling at least one and up to two oil and/or gas wells to test the Niobrara formation to a depth of approximately 7,850 feet total vertical depth in Moffatt County, Colorado. The estimated cost for drilling the first well (Kowach 3-25) was $1,824,460 ($547,338 net to the Company) and if warranted an additional $471,772 for completion ($141,517 to the Company). The estimated cost for drilling the second well (Voloshin 3-25) was $1,982,998 ($549,899 net to the Company) and if warranted an additional $474,247 for completion ($142,274 to the Company). PetroShare is the operator of the wells and two other companies, not affiliated with the Company or PetroShare, were also participating in the well.
	During the year ended March 31, 2014, the Company paid a total of $1,142,237 to PetroShare for (1) its share of the costs of drilling the first well and second well in exchange for a 30% working interest (25.309% net revenue interest) in each well subject to a reduction of the working interest to 25% (and a proportional reduction of the net revenue interest) if the Company and PetroShare did not complete a business combination and (2) a deposit with PetroShare for costs relating to completion of the wells. The Company does not have a direct ownership interest in the leases since no assignment was made to the Company. The Company's only interest in the leases is through the Participation Agreement, under which a dispute had been raised. As set forth in ASC 360, these costs in the amount of $1,142,237 have been recorded on the balance sheet at March 31, 2014 as Assets Held for Sale.
	On May 5, 2014, the parties entered into a Settlement Agreement to settle their claims and, among other provisions, payment of $100,000 (which payment was received by the Company on May 6, 2014). The Settlement Agreement also requires payment by PetroShare to the Company of $1,042,237 by June 16, 2014, as well as mutual releases that become effective upon receipt of the final payment. The Settlement Agreement acknowledges that neither the Company nor PetroShare admits any liability to the other. Also, the Company's board of directors does not consider this to be the sale of all or substantially all of the Company's assets. The Company received the remaining $1,042,237 on June 16, 2014. Further, the Company is not conveying any properties or assets to PetroShare but upon receipt of the final payment from PetroShare pursuant to the Settlement Agreement. The Company acknowledged that the Participation Agreement and the Company's rights under the related joint operating agreement have been terminated.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2014
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies	'
	Note 4 – Commitments and Contingencies
	Litigation
	A group of persons who purchased $1,776,750 of securities as part of the Company's private placement offering filed suit in 2009 against the Company alleging that securities laws were violated. Subsequently, these cases were dismissed and the Company entered into tolling agreements with these stockholders to toll the statutes of limitations applicable to any claims related to the private placement. These stockholders filed a proof of claim with the Bankruptcy Court in the amount of $1,776,050 plus ancillary amounts purported to be damages attributable to the alleged securities violations and in June 2011 the Bankruptcy Court found that these claims were subordinated to unsecured claims, as such they were settled as part of the Plan approved by the Bankruptcy Court in September 2012.These claims are covered under the Company's D&O insurance policy and at September 30, 2014 no claims have been filed by these stockholders.

Stockholders_Equity

Stockholders' Equity	6 Months Ended
	Sep. 30, 2014
Stockholders' Equity [Abstract]	'
Stockholders' Equity	'
	Note 5 – Stockholders' Equity
	The Company's capital stock at September 30, 2014 and March 31, 2014 consists of 275,000,000 authorized shares of common stock, par value $0.00001 per share. At September 30, 2014 and March 31, 2014, a total of 249,714,147 and 119,862,791 pre-reverse shares of common stock, respectively were issued and outstanding.
	On August 19, 2014, the Company sold 129,851,356 pre-reverse shares of its restricted common stock for $1,300,000 to Terex Energy Corporation. See Note 7 – Purchase Agreement
	During the three and six months ended September 30, 2014, the Company realized additional paid in capital relative to the fair value of stock based compensation in the amount of $7,723 and $11,417, respectively. See Note 6 - Share-Based Compensation

ShareBased_Compensation

Share-Based Compensation	6 Months Ended
	Sep. 30, 2014
Share-Based Compensation [Abstract]	'
Share-Based Compensation	'
	Note 6 – Share-Based Compensation
	2006 Stock Incentive Plan
	On March 30, 2007, the Company's 2006 Stock Incentive Plan (the “2006 Stock Incentive Plan”) was approved by its shareholders and became effective October 2, 2006. Under the 2006 Stock Incentive Plan, the Board of Directors were entitled to grant awards of options to purchase common stock, restricted stock, or restricted stock units to officers, employees, and other persons who provided services to the Company or any related company. The participants to whom awards were granted, the type of awards granted, the number of shares covered for each award, and the purchase price, conditions and other terms of each award were determined by the Board of Directors, except that the term of the options could not exceed 10 years. A total of 10 million pre-reverse shares of the Company's common stock were subject to the 2006 Stock Incentive Plan. The shares issued for the 2006 Stock Incentive Plan may be either treasury or authorized and unissued shares. During the three and six months ended September 30, 2014 and 2013, no options were granted, expired or exercised.
	2013 Stock Incentive Plan
	Effective March 29, 2013, the Company's 2013 Stock Option and Award Plan (the “2013 Stock Incentive Plan”) was approved by its Board of Directors. Under the 2013 Stock Incentive Plan, the Board of Directors may grant options or purchase rights to purchase common stock to officers, employees, and other persons who provide services to the Company or any related company. The participants to whom awards are granted, the type of awards granted, the number of shares covered for each award, and the purchase price, conditions and other terms of each award are determined by the Board of Directors, except that the term of the options shall not exceed 10 years. A total of 12 million pre-reverse shares of the Company's common stock are subject to the 2013 Stock Incentive Plan. The shares issued for the 2013 Stock Incentive Plan may be either treasury or authorized and unissued shares. During the three and six months ended September 30, 2014 and 2013, no options were granted, expired or exercised under the 2013 Stock Incentive Plan.
	Non-Qualified Stock Options
	During the three and six months ended September 30, 2014 and 2013, no non-qualified stock options were granted, expired or exercised. However, on August 19, 2014, the four members of the Board of Directors returned and cancelled, in aggregate, their options for 10,000,000 pre-reverse shares of common stock granted on December 3, 2013, and therefore at September 30, 2014 there were no non-qualified stock options issued and outstanding.
	Warrants
	Effective August 19, 2014, the Company issued to three of the members of the Board of Directors who returned and cancelled their non-qualified options, warrants to acquire up to 5,000,000 pre-reverse shares of the Company's common stock at an exercise price of $.01 per share. The term of the warrant is for a period of three years from the effective date of the warrant. The warrants are fully vested.
	The following table summarizes information related to the outstanding and vested pre-reverse warrants at September 30, 2014:
		Outstanding and Vested Warrants
	Number of shares – warrants		15,000,000
	Weighted average remaining contractual life – warrants		2.88 years
	Weighted average exercise price – warrants	$	0.01
	Aggregate intrinsic value	$	133,296
	The aggregate intrinsic value of outstanding securities is the amount by which the fair value of underlying (common) shares exceeds the exercise price of the options issued and outstanding.
	During the three and six months ended September 30, 2014 and 2013, the Company did not realize any income tax expense related to the exercise of stock options. During the three and six months ended September 30, 2014, the Company's realized stock based compensation expense in the amount of $7,723 and $11,417, respectively There was no stock based compensation expense during the three and six months ended September 30, 2013.

Purchase_Agreement

Purchase Agreement	6 Months Ended
	Sep. 30, 2014
Purchase Agreement [Abstract]	'
Purchase Agreement	'
	Note 7 – Purchase Agreement
	On August 19, 2014, the Company entered into a Securities Purchase Agreement with Terex Energy Corporation in which it sold 129,851,356 pre-reverse shares of its restricted common stock to TEC for $1,300,000 in cash. Concurrently, two members of the Board of Directors of the Company resigned, and two new members of the Board of Directors were appointed who are currently members of the Board of Directors and officers of TEC. As a result of this transaction, TEC is the majority shareholder of the Company, owning 52% of the issued and outstanding shares of the Company's common stock as well as controlling the Company's operations. Prior to this Agreement, TEC owned no shares of the Company's 119,862,791 issued and outstanding pre-reverse shares of common stock nor was any member of the Board of Directors or officer of TEC a part of the Board of Directors or management of the Company.
	As a result of the transaction, TEC files its financial statements on a consolidated basis that include the accounts of the Company from the date of the Agreement. However, even though TEC files its financial statements on a consolidated basis, management does not believe that a new basis of accounting (using push down accounting) arising from the acquisition by TEC should be reflected in the separate financial statements of the Company. Staff Accounting Bulletin Topic 5J does not insist a subsidiary to use push down accounting when less than substantially all of the common stock is acquired by its parent especially when significant non-controlling interest in the subsidiary might influence the parent's ability to control the form of ownership.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	Note 8 – Related Party Transactions
	A former director of the Company is a partner in the law firm that acted as counsel to the Company before the director resigned on August 18, 2014. The Company incurred legal fees and expenses to the law firm for the three and six months ended September 30, 2014 and 2013 in the amount of $$0 and $9,704 and $0 and $3,360, respectively that are included in the statements of operations.
	A director of the Company who is also a director of TEC was paid a fee in the amount of $26,000 for services rendered during August of 2014 that is included in the statements of operations for the three and six months ended September 30, 2014.

Subsequent_Events

Subsequent Events	6 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Note 9 – Subsequent Events
	On September 22, 2014, the Board of Directors approved and the majority shareholders of the Company voted to approve the following:
	To authorize a reverse split of the common stock issued and outstanding of the Company on a one (1) new share for three hundred and fifty (350) old shares basis. Fractional shares will be redeemed in cash. This action required an amendment to the Articles of Incorporation, which was filed on October 8, 2014, and required the approval of FINRA which FINRA approved effective October 29, 2014; and
	To authorize additional shares of preferred stock in the amount of 50,000,000 shares, $.001 par value in such series and classes, and with such rights and privileges as the Board hereafter adopts in its sole discretion. This action required an amendment to the Articles of Incorporation which was filed on October 8, 2014; and
	To authorize the Board of Directors to grant authority to redomicile and reincorporate by merger in Colorado. The Company has merged into its wholly owned subsidiary, T-Rex Oil, Inc., effective October 20, 2014 to redomicile to Colorado as a Colorado corporation. T-Rex Oil, Inc. was incorporated on September 2, 2014 for the sole purpose of merging with Rancher Energy Corporation and as of the effective date of the merger, T-Rex Oil, Inc. had no assets or liabilities and no operations had yet to commence.

Summary_of_Significant_Account1

Summary of Significant Account Policies (Policies)	6 Months Ended
	Sep. 30, 2014
Summary of Significant Accounting Policies [Abstract]	'
Use of Estimates in the Preparation of Financial Statements	'
	Use of Estimates in the Preparation of Financial Statements
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Change in Accounting Principle	'
	Change in Accounting Principle
	The Company has disclosed in its financial statements for the years ended March 31 2014 and 2013 and for the three months ended June 30, 2014 that it followed the successful efforts method of accounting for its oil and natural gas operations. However, during such periods, the Company had no assets, liabilities, revenues or costs associated with its oil and natural gas operations under ASC Topic 932 as the Company had totally disposed of all of its oil and natural gas properties during the year ended March 31, 2012. Effective July 1, 2014, the Company will be following the full cost method accounting for its oil and natural gas operations. Pursuant with ASC Topic 250, there are is no retroactive restatement of prior financial information as there were no oil and natural gas capitalized costs or operations incurred by the Company since April 1, 2012.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	The Company considers all liquid investments purchased with an initial maturity of three months or less to be cash equivalents. Cash and cash equivalents include demand deposits and money market funds carried at cost which approximates fair value. The Company maintains its cash in institutions insured by the Federal Deposit Insurance Corporation (“FDIC”), although such deposits are in excess of the insurance coverage. At September 30, 2014, the Company had $1,921,016 in cash deposits in excess of FDIC insured limits.
Oil and Gas Producing Activities	'
	Oil and Gas Producing Activities
	The Company follows the full cost method of accounting for oil and natural gas operations. Under this method all productive and nonproductive costs incurred in connection with the acquisition, exploration, and development of oil and natural gas reserves are capitalized. No gains or losses are recognized upon the sale or other disposition of oil and natural gas properties except in transactions that would significantly alter the relationship between capitalized costs and proved reserves. Unproved properties with significant acquisition costs are assessed annually on a property-by-property basis and any impairment in value is charged to expense. If the unproved properties are determined to be productive, the related costs are transferred to proved oil and natural gas properties and are depleted. Proceeds from sales of partial interests in unproved leases are accounted for as a recovery of cost without recognizing any gain or loss until all costs have been recovered. The costs of unproved oil and natural gas properties are excluded from the amortizable base until the time that either proven reserves are found or it has been determined that such properties are impaired. As properties become proved, the related costs transfer to proved oil and natural gas properties using full cost accounting. There were no proved or unproved capitalized costs at September 30, 2014 and March 31, 2014, respectively and the Company did not expense any capitalized costs for the three and six months ended September 30, 2014 and 2013, respectively.
	The Company performs a quarterly “ceiling test” calculation to test its oil and gas properties for possible impairment. The primary components impacting this calculation are commodity prices, reserve quantities added and produced, overall exploration and development costs, depletion expense, and tax effects. If the net capitalized cost of the Company's oil and gas properties subject to amortization (the carrying value) exceeds the ceiling limitation, the excess would be charged to expense. The ceiling limitation is equal to the sum of the present value discounted at 10% of estimated future net cash flows from proved reserves, the cost of properties not being amortized, the lower of cost or estimated fair value of unproved properties included in the costs being amortized, and all related tax effects.
Property and Equipment	'
	Property and Equipment
	Other property and equipment, such as computer hardware and software, are recorded at cost. Costs of renewals and improvements that substantially extend the useful lives of the assets are capitalized. Maintenance and repair costs are expensed when incurred. When other property and equipment is sold or retired, the capitalized costs and related accumulated depreciation are removed from their respective accounts.
DD&A	'
	DD&A
	Depreciation of other property and equipment is calculated using the straight-line method over the estimated useful lives of the assets from five to ten years
	Depreciation, depletion and amortization of capitalized acquisition, exploration and development costs incurred in oil and gas producing activities are computed using the units-of-production method by individual fields on the basis of the total estimated units of proved reserves as the related proved reserves are produced.
	Depreciation expense of other property and equipment for the three and six months ended September 30, 2014 and 2013 was $4,168 and $8,316 and $12,502 and $16,632 respectively. During the three months ended September 30, 2014, the Company retired its computer hardware and software and as a result recorded an expense of $93,071 in the statement of operations for the three and six months ended September 30, 2014
Impairment of Long-Lived Assets	'
	Impairment of Long-Lived Assets
	In accordance with authoritative guidance on accounting for the impairment or disposal of long-lived assets, as set forth in Topic 360 of the ASC, the Company assesses the recoverability of the carrying value of its non-oil and gas long-lived assets when events occur that indicate an impairment in value may exist. An impairment loss is indicated if the sum of the expected undiscounted future net cash flows is less than the carrying amount of the assets. If this occurs, an impairment loss is recognized for the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. No events occurred during the three and six months ended September 30, 2014 and 2013, respectively that would be indicative of possible impairment.
Revenue Recognition	'
	Revenue Recognition
	The Company currently has no revenue from operations although during the three and six months ended September 30, 2014 and 2013, respectively the Company did have a nominal amount of interest received from financial institutions for funds on deposit.
Income Taxes	'
	Income Taxes
	The Company uses the liability method of accounting for income taxes under which deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the accounting bases and the tax bases of the Company's assets and liabilities. The deferred tax assets and liabilities are computed using enacted tax rates in effect for the year in which the temporary differences are expected to reverse.
	The Company assessed the likelihood of utilization of the deferred tax assets in light of recent and expected continuing losses and an event that occurred during the three months ended September 30, 2014. On August 18, 2014, the Company sold 52% ownership in the Company to an unrelated party and as such the Company's net operating loss carryforwards are affected by the tax limitations under section 382 of the Internal Revenue Code. As a result, the Company is only allowed to utilize annually $78,500 of net operating loss carryforwards in affect at August 18, 2014 against future income until such carryforwards expire. Therefore, based upon this review and the impact of the tax limitations, the deferred tax asset of $31,265,000 has been fully reserved at September 30, 2014. At September 30, 2014, the Company had net operating loss carryforwards of approximately $85,000,000 that begin to expire in the year 2023.
	The Company adopted the provisions of ASC 740, “Income Taxes” on April 1, 2007. FASB ASC 740 provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized upon the adoption of FASB ASC 740 and in subsequent periods. The adoption of ASC 740 had an immaterial impact on the Company's financial position and did not result in unrecognized tax benefits being recorded. Subsequent to adoption, there have been no changes to the Company's assessment of uncertain tax positions. Accordingly, no corresponding interest and penalties have been accrued. The Company's policy is to recognize penalties and interest, if any, related to uncertain tax positions as general and administrative expense. The Company files income tax returns in the U.S. Federal jurisdiction and various states.
Net Loss per Share	'
	Net Loss per Share
	Basic net loss per common share of stock is calculated by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding during each period.
	Diluted net loss per common share is calculated by dividing net loss by the weighted-average number of common shares outstanding, including the effect of other dilutive securities. The Company's potentially dilutive securities consist of in-the-money outstanding options and warrants to purchase the Company's common stock. Diluted net loss per common share does not give effect to dilutive securities as their effect would be anti-dilutive. Net loss not adjusted for 350 to 1 reverse split effective in October 2014.
	The treasury stock method is used to measure the dilutive impact of stock options and warrants. The following table details the weighted-average pre-reverse dilutive and anti-dilutive pre-reverse securities related to stock options and warrants for the periods presented:
		For the Six Months Ended
		September 30,
		2014		2013
	Dilutive		-		-
	Anti-dilutive		14,375,000		1,507,171
Share-Based Payments	'
	Share-Based Payments
	The Company recognizes compensation cost for stock-based awards based on estimated fair value of the award and records compensation expense over the requisite service period. See Note 6 - Share-Based Compensation.
Comprehensive Loss	'
	Comprehensive Loss
	The Company does not have revenue, expenses, gains or losses that are reflected in equity rather than in results of operations. Consequently, for all periods presented, comprehensive loss is equal to net loss.
Major Customers	'
	Major Customers
	The Company has no operations during the three and six months ended September 30, 2014 and 2013 and as a result no customers or billings.
Off-Balance Sheet Arrangements	'
	Off-Balance Sheet Arrangements
	As part of its ongoing business, the Company has not participated in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities (SPEs), which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes. From its incorporation on February 4, 2004 through September 30, 2014, the Company has not been involved in any unconsolidated SPE transactions.
Reclassification	'
	Reclassification
	Certain amounts in the prior period financial statements have been reclassified to conform to the current period financial statement presentation. Such reclassifications had no effect on the Company's net loss.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Sep. 30, 2014
Summary of Significant Accounting Policies [Abstract]	'
Weighted-Average Dilutive and Anti-dilutive Securties to Stock Options and Warrants	'
		For the Six Months Ended
		September 30,
		2014		2013
	Dilutive		-		-
	Anti-dilutive		14,375,000		1,507,171

ShareBased_Compensation_Tables

Share-Based Compensation (Tables) (Warrants [Member])	6 Months Ended
	Sep. 30, 2014
Warrants [Member]	'
Share-Based Compensation [Line items]	'
Summary of information related to the outstanding and vested pre-reverse warrant	'
		Outstanding and Vested Warrants
	Number of shares – warrants		15,000,000
	Weighted average remaining contractual life – warrants		2.88 years
	Weighted average exercise price – warrants	$	0.01
	Aggregate intrinsic value	$	133,296

Business_Organization_Narrativ

Business Organization (Narrative) (Details) (USD $)	6 Months Ended			0 Months Ended
	Sep. 30, 2014	Aug. 18, 2014	Sep. 30, 2014	Aug. 19, 2014
			TEC [Member]	Restricted common stock [Member]
			T-Rex Oil, Inc. [Member]	TEC [Member]
				T-Rex Oil, Inc. [Member]
Business Organization [Line Items]	'	'	'	'
Number of pre-reverse shares issued	'	'	'	129,851,356
Value of pre-reverse shares issued	$1,300,000	'	'	$1,300,000
Ownership percentage	'	52.00%	52.00%	'

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Cash and Cash Equivalents) (Narrative) (Details) (USD $)	Sep. 30, 2014
Summary of Significant Accounting Policies [Abstract]	'
Cash deposit in excess of FDIC insured limits	$1,921,016

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Oil and Gas Producing Activities) (Narrative) (Details)	6 Months Ended
	Sep. 30, 2014
Summary of Significant Accounting Policies [Abstract]	'
Discount rate (as a percent)	10.00%

Summary_of_Significant_Account5

Summary of Significant Accounting Policies (DD&A) (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
DD&A	'	'	'	'
Depreciation expense	$4,168	$8,316	$12,502	$16,632
Loss on disposition of assets	$93,071	'	$93,071	'
Minimum [Member]	'	'	'	'
DD&A	'	'	'	'
Estimated useful life	'	'	'5 years	'
Maximum [Member]	'	'	'	'
DD&A	'	'	'	'
Estimated useful life	'	'	'10 years	'

Summary_of_Significant_Account6

Summary of Significant Accounting Policies (Income Taxes) (Narrative) (Details) (USD $)	6 Months Ended
	Sep. 30, 2014	Aug. 18, 2014
Income taxes	'	'
Ownership percentage	'	52.00%
Deferred tax asset	$31,265,000	'
Net operating loss carryforwards	$85,000,000	$78,500
Expiration year	1-Jan-23	'

Summary_of_Significant_Account7

Summary of Significant Accounting Policies (Net Loss per share) (Details)	3 Months Ended		6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Summary of Significant Accounting Policies [Abstract]	'	'	'	'
Reverse stock split ratio (as a percent)	350	350	350	350
Dilutive	'	'	'	'
Anti-dilutive	'	'	14,375,000	1,507,171

Assets_Held_for_Sale_Narrative

Assets Held for Sale (Narrative) (Details) (USD $)	Mar. 31, 2014	Oct. 03, 2013	Mar. 31, 2014	Oct. 03, 2013	Oct. 03, 2013	Oct. 03, 2013	Oct. 03, 2013	Jun. 16, 2014	6-May-14	Jun. 16, 2014
		Participation Agreement [Member]	Participation Agreement [Member]	Participation Agreement [Member]	Participation Agreement [Member]	Participation Agreement [Member]	Participation Agreement [Member]	Settlement Agreement [Member]	Settlement Agreement [Member]	Settlement Agreement [Member]
		PetroShare [Member]	PetroShare [Member]	PetroShare [Member]	PetroShare [Member]	PetroShare [Member]	PetroShare [Member]			PetroShare [Member]
		item		Kowach 3-25 well [Member]	Voloshin 3-25 [Member]	Minimum [Member]	Maximum [Member]
						item	item
Assets Held for Sale [Line items]	'	'	'	'	'	'	'	'	'	'
Number of oil and/or gas wells to be drill for test the Niobrara formation	'	'	'	'	'	1	2	'	'	'
Total vertical depth to be drill (in feet)	'	7,850	'	'	'	'	'	'	'	'
Estimated cost for drilling	'	'	'	$1,824,460	$1,982,998	'	'	'	'	'
Estimated cost for drilling, net	'	'	'	547,338	549,899	'	'	'	'	'
Additional estimated cost for drilling if warranted for completion	'	'	'	471,772	474,247	'	'	'	'	'
Additional estimated cost for drilling, net if warranted for completion	'	'	'	141,517	142,274	'	'	'	'	'
Number of entities who also participating in the well	'	2	'	'	'	'	'	'	'	'
Amount paid for costs of drilling	'	'	1,142,237	'	'	'	'	'	'	'
Share of the costs of drilling wells in exchange for working interest (as a percent)	'	'	30.00%	'	'	'	'	'	'	'
Share of the costs of drilling wells in exchange for net revenue interest (as a percent)	'	'	25.31%	'	'	'	'	'	'	'
Share of the costs of drilling wells in reduction of the working interest (as a percent)	'	'	25.00%	'	'	'	'	'	'	'
Assets held for sale	1,142,237	'	'	'	'	'	'	'	'	'
Proceeds from settlement of claims and other provisions	'	'	'	'	'	'	'	'	100,000	1,042,237
Proceeds from final settlement of claims and other provisions	'	'	'	'	'	'	'	$1,042,237	'	'

Commitments_and_Contingencies_

Commitments and Contingencies (Narrative) (Details) (USD $)	6 Months Ended
	Sep. 30, 2014
Litigation	'
Description	'
	A group of persons who purchased $1,776,750 of securities as part of the Company's private placement offering filed suit in 2009 against the Company alleging that securities laws were violated.
Damages Sought	$1,776,050

Stockholders_Equity_Narrative_

Stockholders Equity (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended			0 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Mar. 31, 2014	Aug. 19, 2014
						Restricted common stock [Member]
						TEC [Member]
						T-Rex Oil, Inc. [Member]
Class of Stock [Line Items]	'	'	'	'	'	'
Common stock, par value	$0.00	'	$0.00	'	$0.00	'
Common Stock, authorized	275,000,000	'	275,000,000	'	275,000,000	'
Common stock, shares issued	249,714,147	'	249,714,147	'	119,862,791	'
Common stock, shares outstanding	249,714,147	'	249,714,147	'	119,862,791	'
Number of pre-reverse shares issued	'	'	'	'	'	129,851,356
Value of pre-reverse shares issued	'	'	$1,300,000	'	'	$1,300,000
Additional stock based compensation	$7,723	'	$11,417	'	'	'

ShareBased_Compensation_Narrat

Share-Based Compensation (Narrative) (Details)	0 Months Ended			6 Months Ended		6 Months Ended
	Dec. 03, 2013	Aug. 19, 2014	Mar. 30, 2007	Sep. 30, 2014	Mar. 29, 2013	Sep. 30, 2014
	Non-Qualified Stock Options [Member]	Non-Qualified Stock Options [Member]	2006 Stock Incentive Plan [Member]	2006 Stock Incentive Plan [Member]	2013 Stock Incentive Plan [Member]	2013 Stock Incentive Plan [Member]
		item	Stock option [Member]	Maximum [Member]	Stock option [Member]	Maximum [Member]
				Stock option [Member]		Stock option [Member]
Share-Based Compensation [Line items]	'	'	'	'	'	'
Number of shares	'	'	10,000,000	'	12,000,000	'
Term of award	'	'	'	'10 years	'	'10 years
Cancelled or returned (in shares)	10,000,000	'	'	'	'	'
Number of Board of Directors	'	4	'	'	'	'

ShareBased_Compensation_Warran

Share-Based Compensation (Warrants) (Details) (Warrants [Member], USD $)	6 Months Ended
	Sep. 30, 2014	Aug. 19, 2014
		item
Share-Based Compensation [Line items]	'	'
Number of Board of Directors	'	3
Number of outstanding and vested shares	15,000,000	'
Weighted average remaining contractual life	'2 years 10 months 17 days	'
Weighted average exercise price	$0.01	'
Aggregate intrinsic value	$133,296	'
Maximum [Member]	'	'
Share-Based Compensation [Line items]	'	'
Number of warrants authorised	'	5,000,000
Term of award (in years)	'3 years	'

ShareBased_Compensation_Option

Share-Based Compensation (Options) (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Share-Based Compensation [Abstract]	'	'	'	'
Stock based compensation expense	$7,723	'	$11,417	'

Purchase_Agreement_Narrative_D

Purchase Agreement (Narrative) (Details) (USD $)	6 Months Ended			0 Months Ended
	Sep. 30, 2014	Aug. 18, 2014	Sep. 30, 2014	Aug. 19, 2014	Aug. 18, 2014
			TEC [Member]	Restricted common stock [Member]	Securities Purchase Agreement [Member]
			T-Rex Oil, Inc. [Member]	TEC [Member]	TEC [Member]
				T-Rex Oil, Inc. [Member]
Purchase Agreement [Line items]	'	'	'	'	'
Number of pre-reverse shares issued	'	'	'	129,851,356	'
Value of pre-reverse shares issued	$1,300,000	'	'	$1,300,000	'
Ownership percentage	'	52.00%	52.00%	'	'
Pre-reverse shares issued and outstanding	'	'	'	'	119,862,791

Related_Party_Transactions_Nar

Related Party Transactions (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Director [Member] | TEC [Member]	'	'	'	'
Related party transaction [Line items]	'	'	'	'
Fees paid for services	$26,000	'	$26,000	'
Former director [Member]	'	'	'	'
Related party transaction [Line items]	'	'	'	'
Legal Fees	$0	$9,704	$0	$3,360

Subsequent_Events_Narrative_De

Subsequent Events (Narrative) (Details) (Subsequent event [Member], USD $)	0 Months Ended
	Oct. 08, 2014
Subsequent event [Member]	'
Subsequent events [Line items]	'
Reverse stock split ratio (as a percent)	350
Preferred stock, shares authorized	50,000,000
Preferred stock, par value	$0.00