Blacksands Petroleum (BSPE) 10-K 11 Feb 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Oct. 31, 2014	Feb. 05, 2015	Apr. 30, 2014
Document And Entity Information
Entity Registrant Name	BLACKSANDS PETROLEUM, INC.
Entity Central Index Key	1308137
Document Type	10-K
Document Period End Date	31-Oct-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-21
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		18,872,832
Entity Public Float			$32,927,087
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2014

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Oct. 31, 2014	Oct. 31, 2013
Current Assets:
Cash and cash equivalents	$678,940	$1,335,237
Accounts receivable	210,577	417,597
Prepaid expenses	522,073
Total Current Assets	1,411,590	1,752,834
Oil and gas property costs (successful efforts method of accounting)
Proved	735,756	2,077,872
Other assets	50,000	50,312
TOTAL ASSETS	2,197,346	3,881,018
Current Liabilities:
Note payable	60,000	280,000
Accounts payable	129,400	523,365
Accrued expenses	2,372,075	3,121,900
Total Current Liabilities	2,561,475	3,925,265
Notes payable, net of discounts of $1,312,873 and $1,329,581	2,787,127	1,050,419
Notes payable to related party	3,220,000	3,220,000
Asset Retirement obligation	91,707	649,233
Total Liabilities	8,660,309	8,844,917
Stockholders' Equity:
Preferred stock - $0.001 par value; 10,000,000 shares authorized:
Series A - $0.001 par value, 310,000 shares authorized, nil and nil shares issued and outstanding
Series B - $0.001 par value; 2,217,281 shares authorized, 500,000 and nil shares issued and outstanding, respectively	500
Series C - $0.001 par value; 1,750,000 shares authorized, 1,000,000 and nil shares issued and outstanding, respectively	1,000
Common stock - $0.001 par value; 100,000,000 shares authorized; 19,278,017 and 17,719,360 shares issued and outstanding at October 31, 2014 and October 31, 2013, respectively	19,278	17,720
Additional paid-in capital	28,440,320	23,726,191
Accumulated deficit	-34,924,061	-28,707,810
Total Stockholders' Equity	-6,462,963	-4,963,899
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$2,197,346	$3,881,018

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Oct. 31, 2014	Oct. 31, 2013
Stockholders' Equity:
Preferred stock, par value	$0.00	$0.00
Preferred stock, authorized shares	10,000,000	10,000,000
Preferred stock Series A, par value	$0.00	$0.00
Preferred stock Series A, authorized shares	310,000	310,000
Preferred stock Series A, issued shares	0	0
Preferred stock Series A, outstanding shares	0	0
Preferred stock Series B, par value	$0.00	$0.00
Preferred stock Series B, authorized shares	2,217,281	2,217,281
Preferred stock Series B, issued shares	500,000	0
Preferred stock Series B, outstanding shares	500,000	0
Preferred stock Series C, par value	$0.00	$0.00
Preferred stock Series C, authorized shares	1,750,000	1,750,000
Preferred stock Series C, issued shares	1,000,000	0
Preferred stock Series C, outstanding shares	1,000,000	0
Common stock par value	$0.00	$0.00
Common stock shares authorized	100,000,000	100,000,000
Common stock shares issued	19,278,017	17,719,360
Common stock shares outstanding	19,278,017	17,719,360

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Revenue:
Oil and gas revenue	$1,228,868	$1,690,249
Expenses:
Selling, general and administrative	1,265,239	1,443,223
Depreciation and depletion	1,407,644	969,511
Accretion	15,706	39,731
Lease operating expenses	429,810	765,643
Impairment of oil and gas property interest	3,630,194	4,820,770
Gain on sale of assets	-645,323
Gain on sale of working interests	-1,639,394
Oil and gas exploration costs		699,335
Total expenses	4,463,876	8,738,213
Loss from Operations	-3,235,008	-7,047,964
Other income and expense:
Interest expense	-2,139,317	-1,401,611
Other income		55,601
Loss on extinguishment of debt	-841,926
Total Other Income (Expense)	-2,981,243	-1,346,010
Loss before provision for income taxes	-6,216,251	-8,393,974
Provision for income taxes
Net Loss	-6,216,251	-8,393,974
Preferred stock Dividends	-7,583	-200,000
Deemed dividend - beneficial conversion feature Series B Preferred Stock	-450,000
Deemed dividend - beneficial conversion feature Series C Preferred Stock	-390,000
Net loss attributable to common shareholders	-7,063,834	-8,593,974
Loss Per Share attributable to common shareholders Basic and diluted	($0.39)	($0.52)
Weighted Average Shares Outstanding Basic and diluted	$18,094,055	$16,405,142

Consolidated_Statement_of_Stoc

Consolidated Statement of Stockholder's Equity (USD $)	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Deficit	Total
Beginning Balance, Amount at Oct. 31, 2012	$250	$16,387	$22,463,501	($20,313,836)	$2,166,302
Beginning Balance, Shares at Oct. 31, 2012	250,000	16,386,443
Stock issued to director for services, Shares		6,250
Stock issued to director for services, Amount		6	24,787		24,793
Stock based compensation			238,980		238,980
Shares issued in private placement, Shares		500,000
Shares issued in private placement, Amount		500	999,500		1,000,000
Conversion of preferred shares, Shares	-250,000	826,667
Conversion of preferred shares, Amount	-250	827	-577
Net loss				-8,393,974	-8,393,974
Ending Balance, Amount at Oct. 31, 2013		17,720	23,726,191	-28,707,810	-4,963,899
Ending Balance, Shares at Oct. 31, 2013		17,719,360
Stock issued to director for services, Shares		6,250			6,250
Stock issued to director for services, Amount		6	8,432		8,438
Stock based compensation			33,146		33,146
Unvested portion of forfeited options			-68,730		-68,730
Payment of interest with common stock, Shares		1,052,407
Payment of interest with common stock, Amount		1,052	1,893,281		1,894,333
Stock issuance costs, Shares		500,000
Stock issuance costs, Amount		500	-500
Discount on convertible debt			1,350,000		1,350,000
Issuance of Preferred B shares, Shares	500,000
Issuance of Preferred B shares, Amount	500		499,500		500,000
Beneficial conversion feature On Preferred B Shares			450,000		450,000
Deemed dividend on Preferred B shares			-450,000		-450,000
Issuance of Preferred C shares, Shares	1,000,000
Issuance of Preferred C shares, Amount	1,000		999,000		1,000,000
Beneficial conversion feature discount on Preferred C shares			390,000		390,000
Deemed dividend on Preferred C shares			-390,000		-390,000
Net loss				-6,216,251	-6,216,251
Ending Balance, Amount at Oct. 31, 2014	$1,500	$19,278	$28,440,320	($34,924,061)	($6,462,963)
Ending Balance, Shares at Oct. 31, 2014	1,500,000	19,278,017

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($6,216,251)	($8,393,974)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment of oil and gas property costs	3,630,194	4,820,770
Share-based compensation expense	-27,146	263,773
Depreciation and depletion	1,407,644	969,511
Accretion	15,706	39,731
Amortization of debt discount	1,366,708	678,553
Loss on extinguishment	841,926
Gain on sale of working interests	-1,639,394
Gain on sale of assets	-645,323
Changes in operating assets and liabilities:
Accounts receivable	207,020	-15,435
Prepaid expense and other current assets	-522,073	169,611
Accounts payable and accrued expenses	-83,079	1,070,278
Net cash flows provided by (used in) operating activities	-1,664,068	-397,182
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for oil and gas properties	-3,681,623	-647,901
Proceeds from sale of Cabeza Creek property	50,000
Cash received from the sale of oil and gas properties	1,639,394
Net cash flows used in investing activities	-1,992,229	-647,901
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable	1,500,000	220,000
Proceeds from sale of preferred stock	1,500,000
Proceeds from sale of common stock		1,000,000
Net cash flows from financing activities	3,000,000	1,220,000
NET INCREASE IN CASH AND CASH EQUIVALENTS	-656,297	174,917
CASH AND CASH EQUIVALENTS - Beginning of period	1,335,237	1,160,320
CASH AND CASH EQUIVALENTS - End of period	678,940	1,335,237
Supplemental Disclosures
Cash paid for interest	337,246	223,599
Cash paid for income taxes
Supplemental non-cash activities
Discount on debt	1,350,000
Payment of accrued interest through issuance of common stock	1,052,407
Revision of asset retirement obligation	43,957
Conversion of Preferred Stock to Common Stock		$827

The_Company_and_Summary_of_Sig

The Company and Summary of Significant Accounting Policies	12 Months Ended
	Oct. 31, 2014
Notes to Financial Statements
Note 1. The Company and Summary of Significant Accounting Policies	Description of business and history
	Blacksands Petroleum, Inc. (hereinafter referred to as the “Company”) was incorporated in the State of Nevada on October 12, 2004. Since August 2007, the Company has been engaged in the exploration, development, exploitation and production of oil and natural gas. The Company sells its oil and gas products primarily to domestic pipelines and refineries. Its operations are presently focused in the States of Colorado, Texas and New Mexico.
	Principles of consolidation
	The consolidated financial statements include the accounts of the Company and its subsidiaries, including the wholly-owned subsidiaries Blacksands Petroleum Texas LLC, NRG Asset Management LLC, Copano Bay Holdings LLC and APClark LLC, of which we own 100% of the voting interests. All significant inter-company transactions and balances have been eliminated.
	Oil and Gas Properties
	The Company follows the successful efforts method of accounting for its oil and natural gas properties. Oil and gas properties are periodically assessed to determine whether they have been impaired. Any impairment in value of unproved properties is charged to exploration expense. The costs of unproved properties, which are determined to be productive, are transferred to proved oil and gas properties and amortized on an equivalent unit-of-production basis. Exploratory expenses, including geological and geophysical expenses and delay rentals for unevaluated oil and gas properties, are charged to expense as incurred. Exploratory drilling costs are initially capitalized as unproved property but charged to expense if and when the well is determined not to have found proved oil and gas reserves. In accordance with ASC No. 935, exploratory drilling costs are evaluated within a one-year period after the completion of drilling. For proved properties, we compare expected undiscounted future cash flows at a producing filed level to the unamortized capitalized cost of the asset. If the future undiscounted cash flows, based on our estimate of future natural gas and crude oil prices, operating costs, anticipated production from proved reserves and other relevant date, are lower than the unamortized capitalized cost, the capitalized cost is reduced to fair value. Fair value is calculated by discounting the future cash flows at an appropriate risk-adjusted discount rate.
	During the years ended October 31, 2014 and 2013, the Company impaired its oil and gas properties by $3,630,194 and $4,820,770, which is reflected in the consolidated statement of operations (see Note 2).
	The Company had advanced toward future drilling activities at October 31, 2014 totaling $516,976. These advances are reported as prepaid expenses in the Company’s balance sheet.
	Asset Retirement Obligation
	The Company follows ASC 410—Asset Retirement and Environmental Obligations which requires entities to record the fair value of a liability for legal obligations associated with the retirement obligations of tangible long-lived assets in the period in which it is incurred. This standard requires the Company to record a liability for the fair value of the dismantlement and plugging and abandonment costs excluding salvage values. When the liability is initially recorded, the entity increases the carrying amount of the related long-lived asset. Over time, accretion of the liability is recognized each period and the capitalized cost is amortized over the useful life of the related asset. Upon settlement of the liability, an entity either settles the obligation for its recorded amount or incurs a gain or loss upon settlement.
	Accounting for Derivative Instruments
	ASC 815-24 (formerly SFAS No. 133, “Accounting for Derivative Instruments and Hedging Activities,”), requires all derivatives to be recorded on the balance sheet at fair value. The Company’s derivatives are separately valued and accounted for on the balance sheet. Fair values for securities traded in the open market and derivatives are based on quoted market prices. Where market prices are not readily available, fair values are determined using market based pricing models incorporating readily observable market data and requiring judgment and estimates.
	The pricing model the Company used for determining fair values of its derivatives is the Black-Scholes option-pricing model. Valuations derived from this model are subject to ongoing internal and external verification and review. The model uses market-sourced inputs such as interest rates, exchange rates and option volatilities. Selection of these inputs involves management’s judgment and may impact net income.
	Cash and cash equivalents and short term investments
	Cash and cash equivalents include cash on account and all highly liquid investments with original maturities of three months or less on the date of acquisition. Investments with original maturities of greater than three months but less than one year are considered short-term investments.
	Use of estimates
	The preparation of consolidated financial statements 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 the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	The most critical estimate is the engineering estimate of proved oil and gas reserves. This estimate affects the application of the successful efforts method of accounting, the calculation of depreciation, depletion and amortization of the oil and gas properties and the estimate of the impairment of the oil and gas properties. It also affects the estimated lives used to determine asset retirement obligations. In addition, the estimates of proved oil and gas reserves are the basis for the related standardized measure of discounted future cash flows.
	Concentration of credit risks
	The Company’s consolidated financial assets that are exposed to credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintained substantially all of its cash balances in a limited number of financial institutions. The balances are insured by the Federal Deposit Insurance Corporation up to $250,000. The Company had $162,986 in excess of this limit at October 31, 2014.
	Property and equipment
	Property and equipment are stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which are generally 3 to 27 years. The amounts of depreciation provided are sufficient to charge the cost of the related assets to operations over their estimated useful lives. Upon sale or other disposition of a depreciable property, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in the statement of operations.
	The Company periodically evaluates whether events and circumstances have occurred that may warrant revision of the estimated useful life of fixed assets or whether the remaining balance of fixed assets should be evaluated for possible impairment. The Company uses an estimate of the related undiscounted cash flows over the remaining life of the fixed assets in measuring their recoverability.
	Revenue recognition
	Revenue is recognized when title to the products transfer to the purchaser. The Company uses the “sales method” to account for production revenue, whereby revenue is recognized on all oil, natural gas or other related products sold to our purchasers, regardless of whether the sales are proportionate to our ownership in the property. A receivable or liability is recognized only to the extent that there is an imbalance on a specific property greater than the expected remaining proved reserves. As of October 31, 2014, our aggregate production imbalances were not material.
	Stock-based compensation
	The Company follows the provisions of FASB ASC 718—Stock Compensation. The statement requires all stock-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on their fair values on the date of grant.
	Income taxes
	The Company accounts for its income taxes in accordance with ASC 740 Income Taxes, which requires recognition of deferred tax assets and liabilities for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is provided for the amount of deferred tax assets that would otherwise be recorded for income tax benefits primarily relating to operating loss carryforwards as realization cannot be determined to be more likely than not.
	The statement establishes a more-likely-than-not threshold for recognizing the benefits of tax return positions in the financial statements. Also, the statement implements a process for measuring those tax positions which meet the recognition threshold of being ultimately sustained upon examination by the taxing authorities. There are no uncertain tax positions taken by the Company on its tax returns and the adoption of the statement had no material impact to the Company’s consolidated financial statements. The Company files tax returns in the US and states in which it has operations and is subject to taxation. Tax years subsequent to 2010 remain open to examination by U.S. federal and state tax jurisdictions.
	Net loss per common share
	The Company computes net income or loss per share in accordance with ASC 260 Earnings Per Share. Under the provisions of the Earnings per Share Topic ASC, basic net loss per share is computed by dividing the net loss available to common stockholders for the period by the weighted average number of shares of common stock outstanding during the period. The calculation of diluted net loss per share gives effect to common stock equivalents; however, potential common shares are excluded if their effect is anti-dilutive. The weighted average number of potentially dilutive common shares excluded from the calculation of diluted net income (loss) per share totaled 3,066,667 and 3,103,601 for the years ended October 31, 2014 and 2013, respectively.
	Fair Value of Financial Instruments
	The carrying amounts of financial instruments, including cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued liabilities approximate fair value at October 31, 2014 and October 31, 2013 because of the short period to maturity of these instruments.
	Going Concern
	As shown in the accompanying consolidated financial statements, the Company has incurred an accumulated deficit of $34,924,061 through October 31, 2014. In addition, the Company had a working capital deficit of 1,149,885 and cash and cash equivalents of $678,940 at October 31, 2014. The Company’s plan is to raise additional capital for the drilling of new oil wells until such time that the Company generates sufficient revenues from its wells to cover its cash flow needs. However, the Company cannot assure that it will accomplish this task and there are many factors that may prevent the Company from reaching its goal of profitability.
	The current rate of cash usage raises substantial doubt about the Company’s ability to continue as a going concern, absent additional significant revenues from new oil production. The Company’s financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue in existence.

Oil_and_Gas_Property_Costs

Oil and Gas Property Costs	12 Months Ended
	Oct. 31, 2014
Notes to Financial Statements
Note 2. Oil and Gas Property Costs	In the years ended October 31, 2014 and October 31, 2013, the Company incurred property acquisition costs as follows:
	Proved Properties
		2014			2013
	Balance, beginning of year	$	2,077,872		$	5,284,597
	Costs incurred during the year		3,681,623			647,901
	Asset retirement obligation revision		43,957			--
	Depletion		(1,407,331	)		(968,451	)
	Impairment of oil and gas property costs		(3,630,194	)		(2,886,175	)
	Cost of property sold		(30,171	)		(--	)
	Balance, end of year	$	735,756		$	2,077,872
	Unproved Properties
		2014			2013
	Balance, beginning of year	$	--		$	1,934,595
	Costs incurred during the year		--			--
	Impairment of oil and gas property costs		--			(1,934,595	)
	Balance, end of year	$	--		$	--
	Blacksands Projects
	Proved Properties
	J.E. Pettus Gas Unit (known as “Cabeza Creek Field”) Acquisition in November 2009
	On November 9, 2009, the Company purchased the J.E. Pettus Gas Unit located in Goliad County, Texas for $402,569. The Company also incurred approximately $25,000 in fees associated with the acquisition, which were expensed when incurred. The Gas Unit includes four (4) active gas wells, (1) active oil well and 22 non-producing wells located on 3,689 acres in Goliad County, Texas. The leasehold working interest acquired by BSPE Texas is 100% leasehold working interest (80% net revenue interest) from the surface to 8,500 feet below the surface and 10.67% leasehold working interest (8.536% net revenue interest) below 8,500 feet.
	At October 31, 2013 and 2012, the Company compared the expected undiscounted future cash flows on a field by field basis to the unamortized capitalized cost of the asset. The Company determined that based on its analysis, capitalized costs for the field exceeded its fair value. As a result the Company recorded an impairment totaling $4,359 and $147,370, respectively.
	In January 2014, the Company sold its interest in all of the wells in the Cabeza Creek Field for all depths from the surface to 8,500 feet below the surface in exchange for $50,000 and the assumption by the buyer of all future liabilities associated with the plugging and abandoning of all wells in the Cabeza Creek Field ($617,189). The Company retained its working interest for depths greater than 8,500 feet. The Company recorded a gain on the sale of $645,323 during the year ended October 31, 2014.
	The following is a summary of the pro forma information for the years ended October 31, 2014 and 2013 assuming the sale of the Cabeza Creek field had occurred as of the beginning of each fiscal year presented:
		2014			2013
	Oil and gas revenue	$	1,228,868		$	1,549,145
	Expenses
	Selling, general and administrative		1,265,239			1,443,223
	Depreciation and depletion		1,407,644			912,948
	Accretion		15,706			3,474
	Lease operating expense		429,810			701,726
	Impairment of oil and gas property interest		3,630,194			4,820,770
	Gain on sale of working interest		(1,639,394	)		--
	Oil and gas exploration costs		--			699,335
	Total expenses		5,109,199			8,581,476
	Loss from operations		(3,880,331	)		(7,032,331	)
	Other income (expense)		(2,981,243	)		(1,346,010	)
	Net loss	$	(6,861,574	)	$	(8,378,341	)
	Beech Creek Oil Wells (known as “Beech Creek Field”) Acquisition in April 2010
	On April 5, 2010, the Company purchased different leasehold working interests in the Beech Creek Wells No. 1 and No A-2 located in Hardin County, Texas for $740,798 in cash. These property interests were previously owned by a group of five different working interest owners. A 30.0587% working interest (21.942851% net revenue interest) was acquired in the Beech Creek #1 well. A 24.4337% (18.3253% Net Revenue Interest) working interest was acquired in the Beech Creek A-2 well. Both of these wells are currently producing. The costs related to these wells have been fully depleted.
	AP Clark Wells (known as “Jo-Mill Field”) Acquisition in August 2010
	On August 10, 2010 the Company purchased an interest in two operating wells and its leasehold interest in 1,257 acres for $460,000. As a result of the acquisition, the Company has a 25% gross working interest (18.75% net revenue interest) in the two operating wells. The Company also has an 18.875% gross working interest (14.15625% net revenue interest) on the leasehold interests acquired on the 1,257 acres.
	On November 29, 2010, the Company acquired additional leasehold interests and rights in the AP Clark Field from Westerly for $260,000. In addition, the Company paid Westerly $119,000 as advance payment towards 70% of the actual third party costs that was required to receive an extension of certain leasehold properties included in the AP Clark Field (the “Extension Monies”) The Company and Westerly also agreed to drill the W.D. Everett Well No. 3 located within the AP Clark Field whereby all costs of such drilling operation were borne 30% by Westerly and 70% by the Company.
	The Company incurred $1,342,539 in drilling costs related to the drilling and completion of the W.D. Everett Well No. 3. In addition, during the quarter ended October 31, 2011, the Company drilled the Beaver Valley Ranch 6-1 well. Westerly elected to not participate for its full working interest in this well and has a working interest on this well of 15%. The Company was able to arrange for two unrelated parties to participate for an additional 20%. As a result, the Company has a working interest in this well of 65%. The Company incurred costs relating to the well totaling $1,166,225. These wells are currently producing and are operated by NRG.
	During the fiscal year 2012, the Company drilled two wells, the Livestock 7-1 and Livestock 18-1 for a total cost of $1,223,535 and $1,275,699, respectively. Westerly elected to not participate for its full working interest in these wells and has a working interest of 11.4% and 8.55%, respectively. The Company was able to arrange for four unrelated parties to participate in each of these wells for an additional 26%. As a result, the Company has a working interest in these well of 62.8% and 65.65%. These wells began production in November 2012. These wells are currently producing and are operated by NRG.
	During the fiscal year 2014, the Company participated in the drilling of three wells, the Livestock 7-2, Livestock 18-2 and the BVR 5-1 for a total cost of $1,015,980, $1,024,117 and $1,009,284, respectively. The Company owned 100% of the working interest in the wells during drilling operations. The Company reported an impairment of $2,219,813 of these costs during the quarter ended January 31, 2014. Subsequent to the drilling of these wells, the Company transferred approximately 59% in working interests to third parties and recorded a gain of $1,639,394. The Company has a working interest in these well of 41.46%. These wells are operated by a third party and began production in June 2014.
	Unproved Properties
	Pedregosa Basin Field Acquisition in June 2010
	On June 18, 2010, the Company acquired a 50% undivided leasehold working interest (with an associated 40% net revenue interest) in and to approximately 147,262 acres of land, located in the Pedregosa Basin (SW New Mexico) for an initial acquisition cost of $1.5 million (the “Exploration Agreement”). Pursuant to the agreement, $1 million was paid at purchase and the remaining $500 thousand was due and subsequently paid on November 1, 2010. The property has no production and was accounted for as an acquisition of unproved property. Pursuant to an agreement, the Company was obligated to carry the drilling costs for a test well up to $1.2 million. Costs in excess of $1.2 million are to be split based upon the parties working interest. During the quarter ended April 30, 2011, the Company began drilling on a test well. The Company incurred $1,665,142 in capitalized exploration costs. During the quarter ended October 31, 2011, the Company determined that there were not economically feasible hydrocarbons at the test well site and expensed the costs of the well as exploration costs. During 2012, the Company determined that it owed an additional $952,320 for the drilling of this test well based on cost over runs reported to the Company by the operator of the well. During 2013, the Company was informed that an additional $171,790 was due on the drilling of the test well. This amount is reported in the statement of operations as exploration costs. At October 31, 2014, the Company owes the entire balance of $1,124,110, which is reflected in accrued expenses. The current leases are being held by production by other wells in the area the Company did not participate in which are operated by the other working interest owner. In October 2013, the Company recorded an impairment charge for the remaining leasehold costs totaling $1,781,214.
	Del Norte Acquisition in September 2010
	On September 9, 2010, the Company acquired a 50% undivided leasehold working interest in and to approximately 3,200 acres of land located in Rio Grande County in Colorado from Dan A. Hughes Company for an initial acquisition cost of $200,000. The property has no production and was accounted for as an acquisition of unproved property. Pursuant to the agreement, the Company has the option to participate in the drilling of a test well. If the Company participates in the drilling of this test well, all costs associated with the well will be borne equally. As a result of this acquisition, the Company recorded $200,000 in unproved properties. In August 2011, leases covering approximately 1,240 of these acres expired. As a result, the Company reported an impairment charge of $77,703 for the year ended October 31, 2012 for the expired leases. In October 2013, the Company recorded an impairment charge for the remaining leasehold costs totaling $138,381.

Debt

Debt	12 Months Ended
	Oct. 31, 2014
Notes to Financial Statements
Note 3. Debt	The following is a summary of the debt outstanding at October 31,
		2014				2013
	Silver Bullet Properties	$	3,220,000			$	3,220,000
	PIE Energy		60,000				60,000
	KP-RAHR Ventures III, LLC, net of discount of $0 and $1,329,581		2,600,000				1,270,419
	Pacific LNG Operations LTD net of discount of $1,312,873 and $0		187,127				--
	Total		6,067,127				4,550,419
	Less current maturities		60,000				280,000
	Long-term debt	$	6,007,127			$	4,270,419
	Silver Bullet Properties
	The Company entered into a series of loan agreements with Silver Bullet Property Holdings SDN BHD (the “Investor”) for promissory notes totaling of $1,500,000, $1,000,000, $500,000 and $220,000 on November 19, 2010, September 27, 2011, June 12, 2012 and August 28, 2013, respectively. The notes bear interest at the rate of 10% per annum until July 20, 2013, after which the notes bear interest at the rate of 12% per annum. The notes as amended are due December 31, 2015. Pursuant to a security agreement, dated September 27, 2011, the Company granted the Investor a first priority lien on the Company’s oil and gas mineral leases in the ApClark Field. The Investor subordinated it’s liens to KP Rahr in July 2013 (see joint venture agreement below).In April 2012, the Company granted a net proceeds interest totaling 9%. The net proceeds interest represents the amount remaining from the proceeds of the sale of the property after deducting the related costs.
	In August 2014, the Company and the Investor entered into an Amendment and Exchange Agreement (the “August 2014 Amendment”). Pursuant to the August 2014 Amendment, all accrued and unpaid interest through June 30, 2014 on the outstanding notes issued to the Investor, totaling $1,052,407, was exchanged for 1,052,407 shares of the Company’s common stock. In addition, interest accrued on the notes is to be paid quarterly in arrears in shares of the Company’s common stock based upon the average common stock price for the last five trading days of the quarter. As a result of the issuance of the shares for the accrued interest due the Investor through June 30, 2014, the company recorded a loss on the extinguishment of debt of $841,926, which is the amount the value of the shares issued exceeded the amount of the accrued interest. As a result of these issuings, Silver Bullet controls in excess of 10% of the Company’s issued and outstanding stock and the outstanding balance on these notes is reflected on the balance sheet as notes payable from a related party.
	In December 2014, 20,183 and 74,574 shares were issued for interest accruing for the month of July 2014 and for the quarter ended October 31, 2014.
	Pacific LNG Operations LTD.
	On June 6, 2014, the Company entered into a subscription agreement with Pacific LNG Operations Ltd., a company incorporated in the British Virgin Islands (“Pacific LNG”), whereby the Company issued to Pacific LNG, in exchange for $2,000,000, a (i) $1,500,000 principal face amount 5% Convertible Debenture (“Debenture”) convertible into shares of Series B Preferred (Note 5) at a conversion price of $1.00 per share, and (ii) $500,000 in exchange for 500,000 shares of Series B Preferred.
	The Debenture accrues interest at the rate of 5% per annum, payable semi-annually in arrears, and matures on June 6, 2017. Pacific LNG has the right, at any time prior to June 6, 2015, to convert the outstanding principal and interest, if any, of the Debenture into shares of Series B Preferred at a price of $1.00 per share of Series B Preferred.
	Each share of Series B Preferred has a stated value of $1.00 (“Stated Value”) and accrues a dividend of 3% of the Stated Value per annum, which is payable in additional shares of Series B Preferred annually on December 31 in arrears. Each share of Series B Preferred may be converted at any time on or prior to May 30, 2017 into such number of shares of the Company’s common stock equal to the Stated Value divided by $1.00 per share. The Company has the right, at any time after May 30, 2017, to redeem the Series B Preferred at a price of $1.00 per share. Management has evaluated the Series B Preferred and its related terms and determined there are no embedded derivatives.
	In connection with the issuance of the Debenture, the Company has reported a beneficial conversion feature for the difference between the conversion price pursuant to the Debenture and the quoted price of the Company’s common stock on the date of the agreement. On the date of the agreement, a discount totaling $1,350,000 was recorded. The unamortized discount which at October 31, 2014 was $1,312,873, will be amortized over the remaining term of the Debenture using the effective interest method. In addition, a deemed dividend totaling $450,000 was recorded in connection with the beneficial conversion feature associated with the conversion features in the Series B Preferred.
	PIE Energy
	In November 2009, the Company received an interest-free advance from an unrelated third party totaling $60,000. In January 2011, the interest-free advances were converted into a note payable, which was due on January 11, 2012 and has a stated annual interest rate of 6%. In January 2012, the parties amended the agreement to extend the due date to January 11, 2013. All other terms and conditions remained unchanged. The note has not been extended further nor has the Company received a notice of default.
	Joint Venture Agreement
	On July 20, 2012, Blacksands Petroleum, Inc. (the “Company”) entered into a Contribution Agreement (the “Contribution Agreement”), between APClark, LLC, a subsidiary of the Company (“APClark”) and KP-RAHR Ventures III, LLC (“KP Ventures”). Pursuant to the Contribution Agreement (i) the Company contributed $1,000 and certain of the Company’s oil and gas assets to APClark in exchange for 1,000 shares of Class A Membership Units of ApClark (the “Class A Membership Units”) and (ii) KP Ventures contributed approximately $2,600,000 (the “KP Ventures Cash Consideration”) to APClark in consideration of 1,000 shares of Class B Non-Voting Convertible Preferred Membership Units of APClark (the “Class B Membership Units” and the transaction, the “Asset Transaction”). KP Ventures has the option to contribute additional funds to APClark, up to an aggregate of $7,600,000, for no further equity consideration.
	In connection with the Contribution Agreement, the Company entered into a Company Agreement (the “Company Agreement”) governing the operations of APClark and defining various rights of the Company and KP Ventures.
	Pursuant to the Company Agreement, KP Ventures shall receive a preferred return of 12% per annum (the “Preferred Return”) on the unrecovered KP Ventures Cash Consideration until such time as the KP Ventures Cash Consideration is repaid. In addition, KP Ventures receives a 1% overriding royalty from the production of the APClark oil and gas properties. Once the KP Ventures Cash Consideration is repaid, including all accrued Preferred Returns, the Class B Membership Units shall automatically convert into Class C Non-Voting Net Profit Membership Units (the “Class C Membership Units”), which represent a non-dilutable “Net Profits” interest (“NPI”) in APClark and the assets owned by APClark and a percentage of all outstanding membership units of APClark initially equal to the NPI. The amount of the NPI granted depends on when the KP Ventures Cash Consideration and Preferred Return is paid, as follows:
	Date of Repayment in Full		NPI %
	On or prior to six month anniversary			7.5	%
	After six months but on or prior to two year anniversary			15	%
	After two years but on or prior to three year anniversary			20	%
	After three years			50	%
	The Company will be responsible for the operations of APClark and has the right to appoint the sole director of APClark, The consent of KP Ventures is required in certain situations, including, but not limited to: expanding the scope of the business; admitting additional members or transfer of membership units; approve annual budget; any merger or sale of all or substantially all of the assets of APClark; voluntary liquidation, dissolution or winding up of APClark; and to make any cash distributions.
	In addition, the Company entered into a Pledge Agreement (the “Pledge Agreement”) pursuant to which it pledged the Class A Membership Units to KP Ventures to secure the Company’s obligations and performance thereunder and under the Contribution Agreement and Operating Agreement, which such Class A Membership Units shall be held pursuant to an escrow agreement.
	Previously, the Company entered into a security agreement, dated as of September 27, 2011, pursuant to which, as security for the repayment of promissory notes in the principal face amount of $3,000,000 (the “Notes”), issued to Silver Bullet Property Holdings SDN BHD (“Silver Bullet”) a first priority security interest (the “Security Interest”) in certain of the assets of the Company that were contributed to APClark pursuant to the Contribution Agreement (the “Pledged Assets”). In connection with the Asset Transaction, the Company, APClark, Silver Bullet and KP Ventures entered into a subordination agreement (the “Subordination Agreement”), pursuant to which Silver Bullet subordinated its Security Interest to KP Ventures, so that KP Ventures would have a first priority interest in the Pledged Assets until KP Ventures is repaid the KP Ventures Cash Consideration and Preferred Return. In addition, the Company previously granted Silver Bullet a “net proceeds” interest of 9% on the Pledged Assets (the “Silver Bullet NPI”), which Silver Bullet NPI was capped at 25% of the outstanding principal and accrued interest owed under the Notes (the “Silver Bullet NPI Limitation”).
	As a result of the required repayment of the equity to KP Ventures, the amount of the contribution has been reflected as a liability on the balance sheet. The Company has also recorded a discount on this liability relating to the relative fair value of the overriding royalties totaling $163,786 and net profits interest totaling $1,915,231. These discounts reduced the carrying value of the proved oil and gas costs. The discounts were fully amortized at October 31, 2014. The Company amortized $1,329,581 and $678,553 as additional interest expense in the fiscal years ended October 31, 2014 and 2013, respectively.

Asset_Retirement_Obligation

Asset Retirement Obligation	12 Months Ended
	Oct. 31, 2014
Notes to Financial Statements
Note 4. Asset Retirement Obligation	The following table summarizes the change in the asset retirement obligation (“ARO”) for the years ended October 31,
		2014			2013
	Beginning balance at November 1	$	649,233		$	609,502
	Liabilities settled		--			--
	Liabilities incurred through acquisition of assets		--			--
	Liabilities transferred through sale of assets		(617,189	)		--
	Change in estimate of well life		43,957			--
	Accretion expense		15,706			39,731
	Ending balance at October 31	$	91,707		$	649,233
	The ARO reflects the estimated present value of the amount of dismantlement, removal, site reclamation and similar activities associated with the Company’s oil and gas properties. Inherent in the fair value calculation of the ARO are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit adjusted discount rates, timing of settlement, and changes in the legal, regulatory, environmental and political environments. To the extent future revisions to these assumptions impact the fair value of the existing ARO liability, a corresponding adjustment is made to the oil and gas property balance.

Stockholders_Equity

Stockholders' Equity	12 Months Ended
	Oct. 31, 2014
Notes to Financial Statements
Note 5. Stockholders' Equity	Preferred Stock
	The Company is authorized to issue 10,000,000 shares of preferred stock at a par value of $.001.
	Series A Preferred Stock
	In October 2010, the Board of Directors (“Board”) designated 310,000 shares of the Company’s preferred stock as Series A Convertible Preferred Stock (“Series A Preferred”). The Series A Preferred are convertible into shares of common stock at a conversion price of $3.75. The shares are entitled to dividends at a rate of 8% of the stated value per share per annum. The dividends are payable annually on December 31 in cash or additional shares of the Series A Preferred, at the option of the Company. The Series A Preferred and any accrued and unpaid dividends mandatorily convert into common shares on October 29, 2013. The outstanding Series A Preferred and accumulated unpaid dividends were converted into 826,667 shares of the Company’s common stock on October 29, 2013.
	On October 29, 2010, the Company and Talras Overseas S.A. (“Talras”) entered into an exchange agreement, whereby $2,500,000 in notes payable were exchanged for 250,000 shares of the Company’s Series A convertible preferred stock and warrants to purchase 333,333 shares of the Company’s common stock. The warrants were exercisable at an exercise price of $6 per share through October 29, 2013. The preferred shares and accumulated dividends were converted into 826,667 shares of common stock on October 29, 2013. The warrants expired unexercised.
	Series B Preferred Stock
	On May 30, 2014, the Board of the Company approved the filing of a Certificate of Designation of Preferences, Rights and Limitations of Series B Convertible Preferred Stock (the “Certificate of Designation”), which was filed with and accepted by the Secretary of State of Nevada on June 6, 2014. Pursuant to the Certificate of Designation, the Company established a new series of 2,217,281 shares of the Series B Convertible Preferred Stock (“Series B Preferred Stock”).
	Each share of Series B Preferred Stock has a stated value of $1.00 (“Stated Value”) and accrues a dividend of 3% of the Stated Value per annum, which is payable in additional shares of Series B Preferred Stock annually on December 31, in arrears. Each share of Series B Preferred Stock may be converted at any time on or prior to May 30, 2017 into such number of shares of the Company’s common stock equal to the Stated Value divided by $1.00 per share. The Company has the right, at any time after May 30, 2017, to redeem the Series B Preferred Stock at a price of $1.00 per share. In June 2014, the Company issued 500,000 shares of the Series B Preferred Stockin exchange for $500,000 pursuant to a subscription agreement with Pacific LNG (see note 3). At October 31, 2014, there were 500,000 shares of the Series B Preferred Stock outstanding. A deemed dividend totaling $450,000 was recorded in connection with the beneficial conversion feature associated with the conversion features of the Series B Preferred Shares.
	Series C Preferred Stock
	On October 15, 2014, the Board the Company approved the filing of a Certificate of Designation of Preferences, Rights and Privileges of Series C Convertible Preferred Stock (“Certificate of Designation”), which was filed with and accepted by the Secretary of State of the State of Nevada on October 16, 2014. Pursuant to the Certificate of Designation, the Company established a new series of 1,750,000 shares of the Series C Convertible Preferred Stock (“Series C Preferred Stock”).
	Each share of Series C Preferred Stock has a stated value of $1.00 (“Stated Value”) and accrues a dividend of 3% of the Stated Value per annum, which is payable in additional shares of Series C Preferred Stock annually on December 31, in arrears, and beginning on December 31, 2014. Each share of Series C Preferred Stock may be converted at any time on or before June 30, 2017, into such number of shares of the Company’s common stock equal to the Stated Value divided by $1.00 per share. The Company has the right, at any time after June 30, 2017, to redeem the shares of Series C Preferred Stock, either in whole or in part, at the price of $1.00 per share. There are no voting rights underlying the Series C Preferred Stock. In October 2014, the Company issued 1,000,000 shares of the Series C Preferred Stock in exchange for $1,000,000. At October 31, 2014, there were 1,000,000 shares of Series C Preferred Stock outstanding. A deemed dividend totaling $390,000 was recorded in connection with the beneficial conversion feature associated with the conversion features of the Series C Preferred Shares.
	Issuances of Common Stock
	In October 2013, the Company issued 500,000 shares of its common stock to Silver Bullet in exchange for $1,000,000. The base price paid by Silver Bullet will be reduced and additional shares issued if there is an issuance of securities or repricing of an existing right to a price less than the base share price paid by Silver Bullet prior to October 23, 2014. As a result of the issuance of the debenture and Series B Preferred stock which had a conversion price of $1 per share, an additional 500,000 shares were required to be issued to Silver Bullet pursuant to the price protection clause. The Company reported the issuance of these shares as an equity transaction as the shares were issued in relation to the prior equity issuance, there were no derivative reporting on the original equity tranasaction and there were no additional services or goods provided.
	During 2014, the Company recorded the vesting of 6,250 restricted shares of the Company’s common stock that were granted to a director. The Company recorded a stock based compensation expense for the vesting of the shares totaling $8,438.
	Stock Options
	As of June 26, 2006, the Company’s Board of Directors approved, and a majority of the Company’s stockholders ratified, the adoption of the Company’s 2006 Stock Option Plan (the “Plan”), pursuant to which the Board of Directors has the ability to provide incentives through the issuance of options, stock, restricted stock, and other stock-based awards, representing up to 2,000,000 shares of the Company’s common stock, to certain employees, outside directors, officers, consultants and advisors. The 2006 Stock Option Plan allows the term of options granted to be determined by the Board of Directors not to exceed ten years. The Board of Directors is authorized to determine the vesting requirements of the options granted.
	During the Fiscal year ended October 31, 2012, stock options were granted to a director of the Company for options representing 88,000 common shares. The exercise price of the option is $4.50, with a ten year term, vesting equally over four years. The fair value of the option grants were estimated on the date of the grant using the Black-Scholes option-pricing model with the following weighted average assumptions: expected volatility of 134%, risk free interest rate of 0.77%; and expected lives of 3.7 years. During the years ended October, 31, 2014 and 2013, the Company recorded stock based compensation totaling $(35,584) and $238,980 as a result of the stock option grants. Included in stock based compensation for the fiscal year ended October 31, 2014 is a reduction of $68,730 that was previously recognized on unvested options which were forfeited.
	A summary of the Company’s stock option activity and related information is as follows:
		Number of			Weighted Average Exercise Price
		Shares
	Outstanding at November 1, 2012		1,046,333			3.13
	Granted		--		$	--
	Exercised		-			-
	Cancelled		--			--
	Outstanding at October 31, 2013		1,046,333		$	3.13
	Granted		--			--
	Exercised		-			-
	Cancelled		979,666			4.5
	Outstanding at October 31, 2014		66,667		$	3
	Exercisable at October 31, 2014		66,667		$	3
	The intrinsic value of the exercisable options at October 31, 2014 totaled $0. At October 31, 2014, the weighted average remaining life of the stock options is 5.44 years. At October 31, 2014, there was $0 of total unrecognized compensation cost related to the stock options granted under the plan.
	Warrants
	A summary of the Company’s stock warrant activity and related information for the years ended October 31, 2014 and 2013 is as follows:
		Warrants			Weighted Average Exercise Price
	Outstanding at November 1, 2012		2,390,601		$	4.71
	Granted		--			--
	Cancelled		(333,333	)		6
	Outstanding at October 31, 2013		2,057,268		$	4.5
	Granted		--		$	--
	Cancelled		(2,057,268	)	$	4.5
	Outstanding at October 31, 2014		--		$	--

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Oct. 31, 2014
Notes to Financial Statements
Note 6. Commitments and Contingencies	The Company, as an owner or lessee and operator of oil and gas properties, is subject to various federal, state and local laws and regulations relating to discharge of materials into, and protection of, the environment. These laws and regulations may, among other things, impose liability on the lessee under an oil and gas lease for the cost of pollution clean-up resulting from operations and subject the lessee to liability for pollution damages. In some instances, the Company may be directed to suspend or cease operations in the affected area. The Company maintains insurance coverage, which it believes is customary in the industry, although the Company is not fully insured against all environmental risks. The Company is not aware of any environmental claims existing as of October 31, 2014, which have not been provided for, covered by insurance or otherwise have a material impact on its financial position or results of operations. There can be no assurance, however, that current regulatory requirements will not change, or past noncompliance with environmental laws will not be discovered on the Company’s properties.
	On January 26, 2015, David DeMarco, a former Chief Executive Officer and director of the Company, filed a complaint against the Company in the District Court of Harris County, Texas, alleging that pursuant to a contract for work performed and/or services rendered, Mr. DeMarco is due $151,000 in deferred compensation that accrued during his tenure as Chief Executive Officer of the Company. The Company believes that Mr. DeMarco is currently an officer of an affiliate of PIE Holding LLC, the operator of five of the Company's wells. Mr. DeMarco is seeking between $200,000 and $1 million in damages. As of the date of this filing, service of process has not been effected. The Company has reported $151,000 in accrued expenses.
	Operating leases
	The Company leases its offices Texas on a month to month basis. Rent expense for the years ended October 31, 2014 and 2013 was $40,494 and $47,832, respectively.

Income_Taxes

Income Taxes	12 Months Ended
	Oct. 31, 2014
Notes to Financial Statements
Note 7. Income Taxes	The reconciliation between the expected income tax benefit, computed using the statutory federal rate of 34%, and the actual income tax benefit is as follows:
		October 31,
		2014			2013
	Expected tax benefit at 34%	$	2,113,525		$	2,853,951
	Stock option expenses		(14,139	)		(89,672	)
	Miscellaneous		(312,681	)		1,762
	Loss on extinguishment		(286,256	)		-
	Amortization of debt discount		(464,681	)		(230,708	)
	Change in valuation allowance		(1,035,768	)		(2,535,333	)
	Actual tax benefit	$	-		$	-
	The composition of deferred tax assets/liability is as follows:
		October 31,
		2014			2013
	Deferred Tax Asset
	Net operating loss	$	7,037,058		$	5,234,969
	Oil and gas property interests		630,168			1,211,160
	Other		196,982			382,311
	Total deferred tax assets	$	7,864,208		$	6,828,440
	Valuation allowance		(7,864,208	)		(6,828,440	)
	Net	$	-		$	-
	The valuation allowance increased by $1,035,768 during the year ended October 2014. The Company established a valuation allowance to fully offset the net deferred income tax assets due to the uncertainty of the Company's ability to generate future taxable income necessary to realize these net deferred income tax assets, considering the Company's history of significant operating losses. In addition, future utilization of the available net operating loss carryforwards may be limited under Internal Revenue Code Section 382 as a result of any future changes in ownership.
	For federal income tax purposes, the Company has net operating losses of approximately $20,597,272 at October 31, 2014. These losses expire as follows:
	2026	$	291,662
	2027		1,739,955
	2028		1,265,101
	2029		769,546
	2030		588,394
	2031		5,153,072
	2032		3,748,939
	2033		1,438,676
	2034		5,601,927
		$	20,597,272

Supplemental_Oil_and_Gas_Discl

Supplemental Oil and Gas Disclosures	12 Months Ended
	Oct. 31, 2014
Notes to Financial Statements
Note 8. Supplemental Oil and Gas Disclosures (Unaudited)	The following supplemental information regarding the oil and gas activities of the Company for 2014 and 2013 is presented pursuant to the disclosure requirements promulgated by the Securities and Exchange Commission and ASC 932, "Disclosures About Oil and Gas Producing Activities." Capitalized costs relating to oil and gas activities and costs incurred in oil and gas property acquisition, exploration and development activities for each year are shown below.
	CAPITALIZED COST OF OIL AND GAS PRODUCING ACTIVITIES
			2014			2013
	As of October 31		United States			United States
	Unproved properties not being amortized		$	--		$	--
	Proved property being amortized			10,515,204			8,387,479
	Accumulated depreciation, depletion amortization and impairment			(9,779,448	)		(6,309,607	)
	Net capitalized costs		$	735,756		$	2,077,872
	COSTS INCURRED IN OIL AND GAS PROPERTY ACQUISITION, EXPLORATION, AND DEVELOPMENT ACTIVITIES
	As of October 31		2014			2013
	Property acquisition costs—proved and unproved properties		$	--		$	--
	Exploration costs		$	--		$	699,335
	Development costs		$	3,681,623		$	649,003
	OIL AND GAS RESERVES
	Users of this information should be aware that the process of estimating quantities of “proved” and “proved developed” oil and natural gas reserves is very complex, requiring significant subjective decisions in the evaluation of all available geological, engineering and economic data for each reservoir. The data for a given reservoir may also change substantially over time as a result of numerous factors including, but not limited to, additional development activity, evolving production history and continual reassessment of the viability of production under varying economic conditions. As a result, revisions to existing reserve estimates may occur from time to time. Although every reasonable effort is made to ensure reserve estimates reported represent the most accurate assessments possible, the subjective decisions and variances in available data for various reservoirs make these estimates generally less precise than other estimates included in the financial statement disclosures.
	Proved reserves represent estimated quantities of natural gas, crude oil and condensate that geological and engineering data demonstrate, with reasonable certainty, to be recoverable in future years from known reservoirs under economic and operating conditions in effect when the estimates were made. Proved developed reserves are proved reserves expected to be recovered through wells and equipment in place and under operating methods used when the estimates were made.
	The following table illustrates the Company’s estimated net proved reserves, including changes, and proved developed reserves for the periods indicated, as estimated by Hite & Associates for the years ended October 31, 2014 and 2013, respectively. The oil and natural gas price as of October 31, 2014 and 2013 is based on the 12-month unweighted average of the first of the month prices of the West Texas Intermediate posted price. The oil and natural gas prices were adjusted by lease for quality, transportation fees, and regional price differentials. The gas price as of October 31, 2014 and 2013 is based on the 12-month unweighted average of the first of the month prices of the Henry Hub spot price. All prices are adjusted by lease for energy content, transportation fees, and regional price differentials. All prices are held constant in accordance with SEC guidelines. All proved reserves are located in the United States.
			Oil BBls			Gas Mcf
	31-Oct-12			586,300			510,090
	Revisions of previous estimates			(511,801	)		(296,245	)
	Acquisition of minerals in place			--			--
	Sales of minerals in place			--			--
	Production			(16,139	)		(18,285	)
	31-Oct-13			58,360			195,560
	Revisions of previous estimates			(17,503	)		(154,195	)
	Acquisition of minerals in place			--			--
	Sales of minerals in place			(910	)		(4,570	)
	Production			(11,107	)		(19,395	)
	31-Oct-14			28,840			17,400
	The Company's proved developed reserves are as follows:
			Developed						Undeveloped
			Oil BBls			Gas Mcf			Oil BBls		Gas Mcf
	31-Oct-14			28,840			17,400			--		--
	31-Oct-13			58,360			195,560			--		--
	31-Oct-12			76,000			234,526			510,300		275,564
	STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOW
	The following Standardized Measure of Discounted Future Net Cash Flow information has been developed utilizing ASC 932, Extractive Activities —Oil and Gas, (ASC 932) procedures and based on oil and natural gas reserve and production volumes estimated by Hite & Associates. It can be used for some comparisons, but should not be the only method used to evaluate the Company or its performance. Further, the information in the following table may not represent realistic assessments of future cash flows, nor should the Standardized Measure of Discounted Future Net Cash Flow be viewed as representative of the current value of the Company.
	The Company believes that the following factors should be taken into account when reviewing the following information:
		·	future costs and selling prices will probably differ from those required to be used in these calculations;
		·	due to future market conditions and governmental regulations, actual rates of production in future years may vary significantly from the rate of production assumed in the calculations;
		·	a 10% discount rate may not be reasonable as a measure of the relative risk inherent in realizing future net oil and natural gas revenues; and
		·	future net revenues may be subject to different rates of income taxation.
	Under the Standardized Measure, for the years ended October 31, 2014 and 2013 the future cash inflows were estimated by applying the 12 month average of the oil and natural gas prices on the first day of the month ($98.13 and $92.60 for oil and $4.29 and $2.34 for natural gas for the years ended October 31, 2014 and 2013, respectively) to the estimated future production of year-end proved reserves. Estimates of future income taxes are computed using current statutory income tax rates including consideration for estimated future statutory depletion and tax credits. The resulting net cash flows are reduced to present value amounts by applying a 10% discount factor. Use of a 10% discount rate and year-end prices were required. At October 31, 2014 and 2013, as specified by the SEC, the prices for oil and natural gas used in this calculation were the unweighted 12-month average of the first day of the month (12-month unweighted average) cash price quotes, except for volumes subject to fixed price contracts.
			2014			2013
	Future cash inflows		$	2,623,080		$	6,077,480
	Future development costs			(136,170	)		(321,400	)
	Future production costs			(1,215,530	)		(2,940,800	)
	Future income tax expenses			-			-
	Future net cash flows before 10% discount			1,271,380			2,815,280
	10%Annual discount for estimated timing of cash flows			(262,700	)		(713,950	)
	Standardized measure discounted future net cash flows		$	1,008,680		$	2,101,330
	CHANGES IN STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS
	The following is a summary of the changes in the Standardized Measure of discounted future net cash flows for the Company’s proved oil and natural gas reserves during each of the years in the two year period ended October 31, 2014:
			2014			2013
	Beginning of the year		$	2,101,330		$	7,682,610
	Sales and transfers of oil and gas produced, net of production costs			(799,057	)		(924,607	)
	Net changes in prices and production costs			306,123			(6,104,363	)
	Net changes in income taxes			-			-
	Production costs incurred			61,626			647,901
	Changes in estimated future development costs, net of current development costs			(166,349	)		16,571,027
	Acquisition of minerals in place			--			--
	Revision of previous estimates			(519,601	)		(12,918,359	)
	Change of discount			210,833			768,261
	Change in production rate and other			(186,225	)		(3,621,140	)
End of year		$	1,008,680		$	2,101,330

The_Company_and_Summary_of_Sig1

The Company and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Oct. 31, 2014
Company And Summary Of Significant Accounting Policies Policies
Description of business and history	Blacksands Petroleum, Inc. (hereinafter referred to as the “Company”) was incorporated in the State of Nevada on October 12, 2004. Since August 2007, the Company has been engaged in the exploration, development, exploitation and production of oil and natural gas. The Company sells its oil and gas products primarily to domestic pipelines and refineries. Its operations are presently focused in the States of Colorado, Texas and New Mexico.
Principles of consolidation	The consolidated financial statements include the accounts of the Company and its subsidiaries, including the wholly-owned subsidiaries Blacksands Petroleum Texas LLC, NRG Asset Management LLC, Copano Bay Holdings LLC and APClark LLC, of which we own 100% of the voting interests. All significant inter-company transactions and balances have been eliminated.
Oil and Gas Properties	The Company follows the successful efforts method of accounting for its oil and natural gas properties. Oil and gas properties are periodically assessed to determine whether they have been impaired. Any impairment in value of unproved properties is charged to exploration expense. The costs of unproved properties, which are determined to be productive, are transferred to proved oil and gas properties and amortized on an equivalent unit-of-production basis. Exploratory expenses, including geological and geophysical expenses and delay rentals for unevaluated oil and gas properties, are charged to expense as incurred. Exploratory drilling costs are initially capitalized as unproved property but charged to expense if and when the well is determined not to have found proved oil and gas reserves. In accordance with ASC No. 935, exploratory drilling costs are evaluated within a one-year period after the completion of drilling. For proved properties, we compare expected undiscounted future cash flows at a producing filed level to the unamortized capitalized cost of the asset. If the future undiscounted cash flows, based on our estimate of future natural gas and crude oil prices, operating costs, anticipated production from proved reserves and other relevant date, are lower than the unamortized capitalized cost, the capitalized cost is reduced to fair value. Fair value is calculated by discounting the future cash flows at an appropriate risk-adjusted discount rate.
	During the years ended October 31, 2014 and 2013, the Company impaired its oil and gas properties by $3,630,194 and $4,820,770, which is reflected in the consolidated statement of operations (see Note 2).
	The Company had advanced toward future drilling activities at October 31, 2014 totaling $516,976. These advances are reported as prepaid expenses in the Company’s balance sheet.
Asset Retirement Obligation	The Company follows ASC 410—Asset Retirement and Environmental Obligations which requires entities to record the fair value of a liability for legal obligations associated with the retirement obligations of tangible long-lived assets in the period in which it is incurred. This standard requires the Company to record a liability for the fair value of the dismantlement and plugging and abandonment costs excluding salvage values. When the liability is initially recorded, the entity increases the carrying amount of the related long-lived asset. Over time, accretion of the liability is recognized each period and the capitalized cost is amortized over the useful life of the related asset. Upon settlement of the liability, an entity either settles the obligation for its recorded amount or incurs a gain or loss upon settlement.
Accounting for Derivative Instruments	ASC 815-24 (formerly SFAS No. 133, “Accounting for Derivative Instruments and Hedging Activities,”), requires all derivatives to be recorded on the balance sheet at fair value. The Company’s derivatives are separately valued and accounted for on the balance sheet. Fair values for securities traded in the open market and derivatives are based on quoted market prices. Where market prices are not readily available, fair values are determined using market based pricing models incorporating readily observable market data and requiring judgment and estimates.
	The pricing model the Company used for determining fair values of its derivatives is the Black-Scholes option-pricing model. Valuations derived from this model are subject to ongoing internal and external verification and review. The model uses market-sourced inputs such as interest rates, exchange rates and option volatilities. Selection of these inputs involves management’s judgment and may impact net income.
Cash and cash equivalents and short term investments	Cash and cash equivalents include cash on account and all highly liquid investments with original maturities of three months or less on the date of acquisition. Investments with original maturities of greater than three months but less than one year are considered short-term investments.
Use of estimates	The preparation of consolidated financial statements 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 the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	The most critical estimate is the engineering estimate of proved oil and gas reserves. This estimate affects the application of the successful efforts method of accounting, the calculation of depreciation, depletion and amortization of the oil and gas properties and the estimate of the impairment of the oil and gas properties. It also affects the estimated lives used to determine asset retirement obligations. In addition, the estimates of proved oil and gas reserves are the basis for the related standardized measure of discounted future cash flows.
Concentration of credit risks	The Company’s consolidated financial assets that are exposed to credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintained substantially all of its cash balances in a limited number of financial institutions. The balances are insured by the Federal Deposit Insurance Corporation up to $250,000. The Company had $162,986 in excess of this limit at October 31, 2014.
Property and equipment	Property and equipment are stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which are generally 3 to 27 years. The amounts of depreciation provided are sufficient to charge the cost of the related assets to operations over their estimated useful lives. Upon sale or other disposition of a depreciable property, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in the statement of operations.
	The Company periodically evaluates whether events and circumstances have occurred that may warrant revision of the estimated useful life of fixed assets or whether the remaining balance of fixed assets should be evaluated for possible impairment. The Company uses an estimate of the related undiscounted cash flows over the remaining life of the fixed assets in measuring their recoverability.
Revenue recognition	Revenue is recognized when title to the products transfer to the purchaser. The Company uses the “sales method” to account for production revenue, whereby revenue is recognized on all oil, natural gas or other related products sold to our purchasers, regardless of whether the sales are proportionate to our ownership in the property. A receivable or liability is recognized only to the extent that there is an imbalance on a specific property greater than the expected remaining proved reserves. As of October 31, 2014, our aggregate production imbalances were not material.
Stock-based compensation	The Company follows the provisions of FASB ASC 718—Stock Compensation. The statement requires all stock-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on their fair values on the date of grant.
Income taxes	The Company accounts for its income taxes in accordance with ASC 740 Income Taxes, which requires recognition of deferred tax assets and liabilities for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is provided for the amount of deferred tax assets that would otherwise be recorded for income tax benefits primarily relating to operating loss carryforwards as realization cannot be determined to be more likely than not.
	The statement establishes a more-likely-than-not threshold for recognizing the benefits of tax return positions in the financial statements. Also, the statement implements a process for measuring those tax positions which meet the recognition threshold of being ultimately sustained upon examination by the taxing authorities. There are no uncertain tax positions taken by the Company on its tax returns and the adoption of the statement had no material impact to the Company’s consolidated financial statements. The Company files tax returns in the US and states in which it has operations and is subject to taxation. Tax years subsequent to 2010 remain open to examination by U.S. federal and state tax jurisdictions.
Net loss per common share	The Company computes net income or loss per share in accordance with ASC 260 Earnings Per Share. Under the provisions of the Earnings per Share Topic ASC, basic net loss per share is computed by dividing the net loss available to common stockholders for the period by the weighted average number of shares of common stock outstanding during the period. The calculation of diluted net loss per share gives effect to common stock equivalents; however, potential common shares are excluded if their effect is anti-dilutive. The weighted average number of potentially dilutive common shares excluded from the calculation of diluted net income (loss) per share totaled 3,066,667 and 3,103,601 for the years ended October 31, 2014 and 2013, respectively.
Fair Value of Financial Instruments	The carrying amounts of financial instruments, including cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued liabilities approximate fair value at October 31, 2014 and October 31, 2013 because of the short period to maturity of these instruments.
Going Concern	As shown in the accompanying consolidated financial statements, the Company has incurred an accumulated deficit of $34,924,061 through October 31, 2014. In addition, the Company had a working capital deficit of 1,149,885 and cash and cash equivalents of $678,940 at October 31, 2014. The Company’s plan is to raise additional capital for the drilling of new oil wells until such time that the Company generates sufficient revenues from its wells to cover its cash flow needs. However, the Company cannot assure that it will accomplish this task and there are many factors that may prevent the Company from reaching its goal of profitability.
	The current rate of cash usage raises substantial doubt about the Company’s ability to continue as a going concern, absent additional significant revenues from new oil production. The Company’s financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue in existence.

Oil_and_Gas_Property_Costs_Tab

Oil and Gas Property Costs (Tables)	12 Months Ended
	Oct. 31, 2014
Oil And Gas Property Costs Tables
Property acquisition costs	Proved Properties
		2014			2013
	Balance, beginning of year	$	2,077,872		$	5,284,597
	Costs incurred during the year		3,681,623			647,901
	Asset retirement obligation revision		43,957			--
	Depletion		(1,407,331	)		(968,451	)
	Impairment of oil and gas property costs		(3,630,194	)		(2,886,175	)
	Cost of property sold		(30,171	)		(--	)
	Balance, end of year	$	735,756		$	2,077,872
	Unproved Properties
		2014			2013
	Balance, beginning of year	$	--		$	1,934,595
	Costs incurred during the year		--			--
	Impairment of oil and gas property costs		--			(1,934,595	)
	Balance, end of year	$	--		$	--
Proforma information		2014			2013
	Oil and gas revenue	$	1,228,868		$	1,549,145
	Expenses
	Selling, general and administrative		1,265,239			1,443,223
	Depreciation and depletion		1,407,644			912,948
	Accretion		15,706			3,474
	Lease operating expense		429,810			701,726
	Impairment of oil and gas property interest		3,630,194			4,820,770
	Gain on sale of working interest		(1,639,394	)		--
	Oil and gas exploration costs		--			699,335
	Total expenses		5,109,199			8,581,476
	Loss from operations		(3,880,331	)		(7,032,331	)
	Other income (expense)		(2,981,243	)		(1,346,010	)
	Net loss	$	(6,861,574	)	$	(8,378,341	)

Debt_Tables

Debt (Tables)	12 Months Ended
	Oct. 31, 2014
Debt Tables
Debt outstanding		2014				2013
	Silver Bullet Properties	$	3,220,000			$	3,220,000
	PIE Energy		60,000				60,000
	KP-RAHR Ventures III, LLC, net of discount of $0 and $1,329,581		2,600,000				1,270,419
	Pacific LNG Operations LTD net of discount of $1,312,873 and $0		187,127				--
	Total		6,067,127				4,550,419
	Less current maturities		60,000				280,000
	Long-term debt	$	6,007,127			$	4,270,419
Date of Repayment	Date of Repayment in Full		NPI %
	On or prior to six month anniversary			7.5	%
	After six months but on or prior to two year anniversary			15	%
	After two years but on or prior to three year anniversary			20	%
	After three years			50	%

Asset_Retirement_Obligation_Ta

Asset Retirement Obligation (Tables)	12 Months Ended
	Oct. 31, 2014
Asset Retirement Obligation Tables
Change in the asset retirement obligation		2014			2013
	Beginning balance at November 1	$	649,233		$	609,502
	Liabilities settled		--			--
	Liabilities incurred through acquisition of assets		--			--
	Liabilities transferred through sale of assets		(617,189	)		--
	Change in estimate of well life		43,957			--
	Accretion expense		15,706			39,731
	Ending balance at October 31	$	91,707		$	649,233

Stockholders_Equity_Tables

Stockholders Equity (Tables)	12 Months Ended
	Oct. 31, 2014
Stockholders Equity Tables
Stock Options Activity		Number of			Weighted Average Exercise Price
		Shares
	Outstanding at November 1, 2012		1,046,333			3.13
	Granted		--		$	--
	Exercised		-			-
	Cancelled		--			--
	Outstanding at October 31, 2013		1,046,333		$	3.13
	Granted		--			--
	Exercised		-			-
	Cancelled		979,666			4.5
	Outstanding at October 31, 2014		66,667		$	3
	Exercisable at October 31, 2014		66,667		$	3
Stock Warrant Activity		Warrants			Weighted Average Exercise Price
	Outstanding at November 1, 2012		2,390,601		$	4.71
	Granted		--			--
	Cancelled		(333,333	)		6
	Outstanding at October 31, 2013		2,057,268		$	4.5
	Granted		--		$	--
	Cancelled		(2,057,268	)	$	4.5
	Outstanding at October 31, 2014		--		$	--

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Oct. 31, 2014
Income Taxes Tables
Reconciliation between the expected income tax benefit and statutory federal rate		October 31,
		2014			2013
	Expected tax benefit at 34%	$	2,113,525		$	2,853,951
	Stock option expenses		(14,139	)		(89,672	)
	Miscellaneous		(312,681	)		1,762
	Loss on extinguishment		(286,256	)		-
	Amortization of debt discount		(464,681	)		(230,708	)
	Change in valuation allowance		(1,035,768	)		(2,535,333	)
	Actual tax benefit	$	-		$	-
Deferred tax assets/liability		October 31,
		2014			2013
	Deferred Tax Asset
	Net operating loss	$	7,037,058		$	5,234,969
	Oil and gas property interests		630,168			1,211,160
	Other		196,982			382,311
	Total deferred tax assets	$	7,864,208		$	6,828,440
	Valuation allowance		(7,864,208	)		(6,828,440	)
	Net	$	-		$	-
Net operating losses	2026	$	291,662
	2027		1,739,955
	2028		1,265,101
	2029		769,546
	2030		588,394
	2031		5,153,072
	2032		3,748,939
	2033		1,438,676
	2034		5,601,927
		$	20,597,272

Supplemental_Oil_and_Gas_Discl1

Supplemental Oil and Gas Disclosures (Unaudited) (Tables)	12 Months Ended
	Oct. 31, 2014
Supplemental Oil And Gas Disclosures Tables
Capitalized Cost Of Oil And Gas Producing Activities		2014			2013
	As of October 31	United States			United States
	Unproved properties not being amortized	$	--		$	--
	Proved property being amortized		10,515,204			8,387,479
	Accumulated depreciation, depletion amortization and impairment		(9,779,448	)		(6,309,607	)
	Net capitalized costs	$	735,756		$	2,077,872
Costs Incurred In Oil And Gas Property Acquisition, Exploration, And Development Activities	As of October 31	2014			2013
	Property acquisition costs—proved and unproved properties	$	--		$	--
	Exploration costs	$	--		$	699,335
	Development costs	$	3,681,623		$	649,003
Oil And Gas Reserves		Oil BBls			Gas Mcf
	31-Oct-12		586,300			510,090
	Revisions of previous estimates		(511,801	)		(296,245	)
	Acquisition of minerals in place		--			--
	Sales of minerals in place		--			--
	Production		(16,139	)		(18,285	)
	31-Oct-13		58,360			195,560
	Revisions of previous estimates		(17,503	)		(154,195	)
	Acquisition of minerals in place		--			--
	Sales of minerals in place		(910	)		(4,570	)
	Production		(11,107	)		(19,395	)
	31-Oct-14		28,840			17,400
Proved developed reserves		Developed						Undeveloped
		Oil BBls			Gas Mcf			Oil BBls		Gas Mcf
	31-Oct-14		28,840			17,400			--		--
	31-Oct-13		58,360			195,560			--		--
	31-Oct-12		76,000			234,526			510,300		275,564
Standardized Measure Of Discounted Future Net Cash Flow		2014			2013
	Future cash inflows	$	2,623,080		$	6,077,480
	Future development costs		(136,170	)		(321,400	)
	Future production costs		(1,215,530	)		(2,940,800	)
	Future income tax expenses		-			-
	Future net cash flows before 10% discount		1,271,380			2,815,280
	10%Annual discount for estimated timing of cash flows		(262,700	)		(713,950	)
	Standardized measure discounted future net cash flows	$	1,008,680		$	2,101,330
Changes In Standardized Measure Of Discounted Future Net Cash Flows		2014			2013
	Beginning of the year	$	2,101,330		$	7,682,610
	Sales and transfers of oil and gas produced, net of production costs		(799,057	)		(924,607	)
	Net changes in prices and production costs		306,123			(6,104,363	)
	Net changes in income taxes		-			-
	Production costs incurred		61,626			647,901
	Changes in estimated future development costs, net of current development costs		(166,349	)		16,571,027
	Acquisition of minerals in place		--			--
	Revision of previous estimates		(519,601	)		(12,918,359	)
	Change of discount		210,833			768,261
	Change in production rate and other		(186,225	)		(3,621,140	)
	End of year	$	1,008,680		$	2,101,330

The_Company_and_Summary_of_Sig2

The Company and Summary of Significant Accounting Policies (Details Narrative) (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Company And Summary Of Significant Accounting Policies Details Narrative
Impairment of oil and gas property interest	$3,630,194	$4,820,770
Advanced from future drilling acitivities	516,976
Potentially dilutive common shares excluded from the calculation of diluted net income (loss)	3,066,667	3,103,601
Accumulated deficit	-34,924,061	-28,707,810
Working capital deficit	1,149,885
Cash and cash equivalents	678,940	1,335,237
Insurance Deposit	$162,986

Oil_and_Gas_Property_Costs_Det

Oil and Gas Property Costs (Details) (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Proved Properties [Member]
Balance, beginning of year	$2,077,872	$5,284,597
Costs incurred during the year	3,681,623	647,901
Asset retirement obligation acquired	43,957
Depletion	-1,407,331	-968,451
Impairment of oil and gas property costs	-3,630,194	-2,886,175
Cost of property sold	-30,171
Balance, end of year	735,756	2,077,872
Unproved Properties [Member]
Balance, beginning of year		1,934,595
Costs incurred during the year
Impairment of oil and gas property costs		-1,934,595
Balance, end of year

Oil_and_Gas_Property_Costs_Det1

Oil and Gas Property Costs (Details 1) (Copano Bay [Member], USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Copano Bay [Member]
Oil and gas revenues	$1,228,868	$1,549,145
Expenses
Selling, general and administrative	1,265,239	1,443,223
Depreciation and depletion	1,407,644	912,948
Accretion	15,706	3,474
Lease operating expense	429,810	701,726
Impairment of oil and gas properties	3,630,194	4,820,770
Gain on sale of working interest	-1,639,394
Oil and gas exploration costs		699,335
Total expenses	5,109,199	8,581,476
Loss from operations	-3,880,331	-7,032,331
Other income (expense)	-2,981,243	-1,346,010
Net income	($6,861,574)	($8,378,341)

Oil_and_Gas_Property_Costs_Det2

Oil and Gas Property Costs (Details Narrative) (USD $)	12 Months Ended
	Oct. 30, 2014	Oct. 31, 2014	Oct. 31, 2013	Oct. 31, 2012
Livestock 7-2 [Member]
Drilled wells cost	$1,015,980
Livestock 18-2 [Member]
Drilled wells cost	1,024,117
BVR 5-1 [Member]
Drilled wells cost		1,009,284
Unproved Properties [Member]
Impairment			1,934,595
Drilled wells cost		171,790
Unproved Properties [Member] | Del Norte Acquisition [Member]
Impairment			153,381
Unproved Properties [Member] | Pedregosa Basin [Member]
Impairment		1,781,214
Proved Properties [Member]
Impairment		3,630,194	2,886,175
Proved Properties [Member] | Cabeza Creek Field [Member]
Impairment			4,359	147,370
Gain on sale		645,323
Pedregosa Basin [Member] | Unproved Properties [Member]
Amount due		$1,124,110

Debt_Details

Debt (Details) (USD $)	Oct. 31, 2014	Oct. 31, 2013
Total	$6,067,127	$4,270,419
Less current maturities	60,000	280,000
Long-term debt	6,007,127	4,550,419
KP-RAHR Ventures III, LLC
Total	2,600,000	1,270,419
Silver Bullet Properties [Member]
Total	3,220,000	3,220,000
PIE Energy [Member]
Total	60,000	60,000
Pacific LNG [Member]
Total	$187,127

Debt_Details_1

Debt (Details 1)	12 Months Ended
	Oct. 31, 2014
Date of Repayment in Full
On or prior to six month anniversary	7.50%
After six months but on or prior to two year anniversary	15.00%
After two years but on or prior to three year anniversary	20.00%
After three years	50.00%

Debt_Details_Narrative

Debt (Details Narrative) (USD $)	12 Months Ended
	Oct. 31, 2014
Debt Details Narrative
Carrying value of the discounts	$1,329,581
Amortization of interest expense	678,553
Unamortized discount	$1,312,873

Asset_Retirement_Obligation_De

Asset Retirement Obligation (Details) (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Asset Retirement Obligation Details
Beginning balance	$649,233	$609,502
Liabilities settled
Liabilities incurred through acquisition of assets
Liabilities transferred through sale of assets	-617,189
Change in estimate of well life	43,957
Accretion expense	15,706	39,731
Ending balance	$91,707	$649,233

Stockholders_Equity_Details

Stockholders Equity (Details) (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Number of Shares
Beginning Balance	1,046,333	1,046,333
Granted
Exercised
Cancelled	979,666
Ending Balance	66,667	1,046,333
Exercisable at October 31, 2014	66,667
Weighted Average Exercise Price
Beginning Balance	$3.13	$3.13
Granted
Exercised
Cancelled	$4.50
Ending Balance	$3	$3.13
Exercisable at October 31, 2014	$3

Stockholders_Equity_Details_1

Stockholders' Equity (Details 1) (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Number of Shares
Beginning Balance	1,046,333	1,046,333
Granted
Cancelled	979,666
Ending Balance	66,667	1,046,333
Weighted Average Exercise Price
Beginning Balance	$3.13	$3.13
Granted
Cancelled	$4.50
Ending Balance	$3	$3.13
Warrant [Member]
Number of Shares
Beginning Balance	2,057,268	2,390,601
Granted
Cancelled	-2,057,268	-333,333
Ending Balance		2,057,268
Weighted Average Exercise Price
Beginning Balance	$4.50	$4.71
Granted
Cancelled	$4.50	$6
Ending Balance		$4.50

Stockholders_Equity_Details_Na

Stockholders Equity (Details Narrative) (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Preferred stock, par value	$0.00	$0.00
Preferred stock, authorized shares	10,000,000	10,000,000
Deemed dividend - beneficial conversion feature Series B Preferred Stock	$450,000
Deemed dividend - beneficial conversion feature Series C Preferred Stock	390,000
Restricted stock granted to a director	6,250
Stock based compensation expense for vested shares	8,438
Stock-based compensation expenses	-35,584	238,980
Intrinsic value of the exercisable options	0
Weighted average remaining life of the stock options	5 years 5 months 9 days
Unrecognized compensation cost	$0

Commitments_and_Contingencies_

Commitments and Contingencies (Details Narrative) (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Commitments And Contingencies Details Narrative
Rent expense	$40,494	$47,832

Income_Taxes_Details

Income Taxes (Details) (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Income Taxes Details
Expected tax benefit at 34%	$2,113,525	$2,853,951
Stock option expenses	-14,139	-89,672
Miscellaneous	-312,681	1,762
Loss on extinguishment	-286,256
Amortization of debt discount	-464,681	-230,708
Change in valuation allowance	-1,035,768	-2,535,333
Actual tax benefit

Income_Taxes_Details_1

Income Taxes (Details 1) (USD $)	Oct. 31, 2014	Oct. 31, 2013
Deferred Tax Asset
Net operating loss	$7,037,058	$5,234,969
Oil and gas property interests	630,168	1,211,160
Other	196,982	382,311
Total deferred tax assets	7,864,208	6,828,440
Valuation allowance	-7,864,208	-6,828,440
Net

Income_Taxes_Details_2

Income Taxes (Details 2) (USD $)	Oct. 31, 2014
Operating Loss Carry forwards	$20,597,272
2026
Operating Loss Carry forwards	291,662
2027
Operating Loss Carry forwards	1,739,955
2028
Operating Loss Carry forwards	1,265,101
2029
Operating Loss Carry forwards	769,546
2030
Operating Loss Carry forwards	588,394
2031
Operating Loss Carry forwards	5,153,072
2032
Operating Loss Carry forwards	3,748,939
2033
Operating Loss Carry forwards	1,438,676
2034
Operating Loss Carry forwards	$5,601,927

Income_Taxes_Details_Narrative

Income Taxes (Details Narrative) (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Income Taxes Details Narrative
Statutory federal rate	34.00%
Change in valuation allowance	($1,035,768)	($2,535,333)
Operating Loss Carry forwards	$20,597,272

Supplemental_Oil_and_Gas_Discl2

Supplemental Oil and Gas Disclosures (Unaudited) (Details) (United States, USD $)	Oct. 31, 2014	Oct. 31, 2013
United States
CAPITALIZED COST OF OIL AND GAS PRODUCING ACTIVITIES
Unproved properties not being amortized
Proved property being amortized	10,515,204	8,387,479
Accumulated depreciation, depletion amortization and impairment	-9,779,448	-6,309,607
Net capitalized costs	$735,756	$2,077,872

Supplemental_Oil_and_Gas_Discl3

Supplemental Oil and Gas Disclosures (Unaudited) (Details 1) (USD $)	Oct. 31, 2014	Oct. 31, 2013
COSTS INCURRED IN OIL AND GAS PROPERTY ACQUISITION, EXPLORATION, AND DEVELOPMENT ACTIVITIES
Property acquisition costs proved and unproved properties
Exploration costs		699,335
Development costs	$3,681,623	$649,003

Supplemental_Oil_and_Gas_Discl4

Supplemental Oil and Gas Disclosures (Unaudited) (Details 2)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
	bbl	bbl
Oil BBls Member
Begnning Balance	58,360	586,300
Revisions of previous estimates	-17,503	-511,801
Acquisition of minerals in place
Sales of minerals in place	-910
Production	-11,107	-16,139
Ending Balance	28,840	58,360
Gas Mcf Member
Begnning Balance	195,560	510,090
Revisions of previous estimates	-154,195	-296,245
Acquisition of minerals in place
Sales of minerals in place	-4,570
Production	-19,395	-18,285
Ending Balance	17,400	195,560

Supplemental_Oil_and_Gas_Discl5

Supplemental Oil and Gas Disclosures (Unaudited) (Details 3)	Oct. 31, 2014	Oct. 31, 2013	Oct. 31, 2012
	bbl	bbl	bbl
Oil BBls Member
Developed Reserves	28,840	58,360	76,000
Undeveloped Reserves			510,300
Gas Mcf Member
Developed Reserves	17,400	195,560	234,526
Undeveloped Reserves			275,564

Supplemental_Oil_and_Gas_Discl6

Supplemental Oil and Gas Disclosures (Unaudited) (Details 4) (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Notes to Financial Statements
Future cash inflows	$2,623,080	$6,077,480
Future development costs	-136,170	-321,400
Future production costs	-1,215,530	-2,940,800
Future income tax expenses
Future net cash flows before 10% discount	1,271,380	2,815,280
10%Annual discount for estimated timing of cash flows	-262,700	-713,950
Standardized measure discounted future net cash flows	$1,008,680	$2,101,330

Supplemental_Oil_and_Gas_Discl7

Supplemental Oil and Gas Disclosures (Unaudited) (Details 5) (USD $)	12 Months Ended
	Oct. 31, 2014	Oct. 31, 2013
Supplemental Oil And Gas Disclosures Details 5
Beginning of the year	$2,101,330	$7,682,610
Sales and transfers of oil and gas produced, net of production costs	-799,057	-924,607
Net changes in prices and production costs	306,123	-6,104,363
Net changes in income taxes
Production costs incurred	61,626	647,901
Changes in estimated future development costs, net of current development costs	-166,349	16,571,027
Acquisition of minerals in place
Revision of previous estimates	-519,601	-12,918,359
Change of discount	210,833	768,261
Change in production rate and other	-186,225	-3,621,140
End of year	$1,008,680	$2,101,330