GulfSlope Energy (GSPE) 10-Q 9 Feb 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Dec. 31, 2014	Feb. 09, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Entity Registrant Name	GULFSLOPE ENERGY, INC.
Entity Central Index Key	1341726
Current Fiscal Year End Date	-21
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		661,019,557

Condensed_Balance_Sheets

Condensed Balance Sheets (USD $)	Dec. 31, 2014	Sep. 30, 2014
Current Assets
Cash and Cash Equivalents	$2,806,038	$4,410,302
Restricted Cash	1,500,190	1,500,077
Prepaid Expenses and Other Current Assets	217,905	33,602
Total Current Assets	4,524,133	5,943,981
Property and Equipment, Net of Depreciation	109,433	107,971
Oil and Natural Gas Properties, Full Cost Method of Accounting Unproved Properties	3,262,637	2,055,978
Other Non-Current Assets	150,000	150,000
Total Non-Current Assets	3,522,070	2,313,949
Total Assets	8,046,203	8,257,930
Current Liabilities
Accounts Payable	209,232	45,210
Related Party Payable	206,049	266,737
Accrued Expenses and Other Payables	2,553,065	2,503,064
Accrued Interest Payable	123,356	40,812
Notes Payable	186,804	4,427
Loan from Related-Party	6,460,000	6,460,000
Total Current Liabilities	9,738,506	9,320,250
Accrued Expenses and Other Payables, Net of Current Portion
Total Liabilities	9,738,506	9,320,250
Stockholders' Deficit
Preferred Stock; par value ($0.001); Authorized 50,000,000 shares none issued or outstanding
Common Stock; par value ($0.001); Authorized 975,000,000 shares; 660,672,345 and 660,672,345 issued and outstanding, respectively	660,672	660,672
Additional Paid-in-Capital	23,154,893	22,936,685
Accumulated Deficit	-25,507,868	-24,659,677
Total Stockholders' Deficit	-1,692,303	-1,062,320
Total Liabilities and Stockholders' Deficit	$8,046,203	$8,257,930

Condensed_Balance_Sheets_Paren

Condensed Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Sep. 30, 2014
Condensed Balance Sheets [Abstract]
Preferred Stock, par value per share	$0.00	$0.00
Preferred Stock, shares authorized	50,000,000	50,000,000
Preferred Stock, shares issued
Preferred Stock, shares outstanding
Common Stock, par value per share	$0.00	$0.00
Common Stock, shares authorized	975,000,000	975,000,000
Common Stock, shares issued	660,672,345	660,672,345
Common Stock, shares outstanding	660,672,345	660,672,345

Condensed_Statements_of_Operat

Condensed Statements of Operations (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Condensed Statements of Operations [Abstract]
Revenues
Impairment of Oil and Natural Gas Properties		1,676,548
General & Administrative Expenses	764,086	404,253
Net Loss from Operations	-764,086	-2,080,801
Other Income/(Expenses):
Interest Income	113	1,300
Interest Expense	-84,218	-69,356
Net Loss Before Income Taxes	-848,191	-2,148,857
Provision for Income Taxes
Net Loss	($848,191)	($2,148,857)
Loss Per Share - Basic and Diluted	$0	$0
Weighted Average Shares Outstanding - Basic and Diluted	660,672,345	609,025,787

Condensed_Statements_of_Cash_F

Condensed Statements of Cash Flows (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
OPERATING ACTIVITIES
Net Loss	($848,191)	($2,148,857)
Adjustments to reconcile net loss to net cash From Operating Activities:
Impairment of Oil and Natural Gas Properties		1,676,548
Depreciation	13,016	6,558
Stock Issued for Services	105,202	221,472
Changes in Operating Assets and Liabilities
(Increase)/Decrease in Prepaid Expenses	40,058	-228,449
Increase/(Decrease) in Accounts Payable	36,357	19,130
Increase/(Decrease) in Related Party Payable	-60,688	-123,621
Increase/(Decrease) in Accrued Interest	82,544	67,464
Increase/(Decrease) in Accrued Liabilities	50,000	22,500
Net Cash From Operating Activities	-581,702	-487,255
INVESTING ACTIVITIES
Exploration Costs	-965,986	-1,577,738
Purchase of Equipment	-14,478	-14,804
Net Cash From Investing Activities	-980,464	-1,592,542
FINANCING ACTIVITIES
Restricted Cash	-113	-189
Proceeds from Stock Issuance		5,154,333
Payments on Note Payable	-41,985	-20,475
Payments on Related Party Loans		-20,000
Net Cash From Financing Activities	-42,098	5,113,669
Net Increase/(Decrease) in cash	-1,604,264	3,033,872
Beginning Cash Balance	4,410,302	310,199
Ending Cash Balance	2,806,038	3,344,071
Supplemental Schedule of Cash Flow Activities
Cash Paid for Income Taxes
Cash Paid for Interest	1,674	912
Non-Cash Financing and Investing Activities
Stock Issued on Conversion of Related Party Note		180,000
Prepaid Asset Financed by Note Payable	224,361	114,748
Settlement of Accrued Expenses through Stock Issuance		112,500
Capital Expenditures Included in Accounts Payable	127,667
Stock-Based Compensation Capitalized to Unproved Properties	$113,006

ORGANIZATION_AND_NATURE_OF_BUS

ORGANIZATION AND NATURE OF BUSINESS	3 Months Ended
	Dec. 31, 2014
ORGANIZATION AND NATURE OF BUSINESS [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS
	GulfSlope Energy, Inc. (the “Company,” “GulfSlope,” “our” and words of similar import), a Delaware corporation, is an independent crude oil and natural gas exploration company whose interests are concentrated in the United States Gulf of Mexico federal waters offshore Louisiana in less than 1000 feet of water depth.  The Company has leased 21 federal Outer Continental Shelf blocks (referred to as “leases” in this Report) and licensed 2.2 million acres of three-dimensional (3-D) seismic data in its area of concentration.
	Since March 2013, we have been singularly focused on identifying high-potential oil and gas prospects. We have licensed 3-D seismic data covering approximately 2.2 million acres and have evaluated this data using advanced interpretation technologies. As a result of these analyses, we have identified and acquired leases on 17 prospects that we believe may contain economically recoverable hydrocarbon deposits, and we plan to continue to conduct more refined analyses of our prospects as well as target additional lease and property acquisitions. We have focused our activities in the federal waters of the Gulf of Mexico. We have given preference to areas where oil and gas production infrastructure already exists, which we believe will allow for any discoveries to be developed faster and less expensively with the goal to reduce economic risk while increasing returns.

SIGNIFICANT_ACCOUNTING_POLICIE

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Dec. 31, 2014
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
	The condensed financial statements included herein are unaudited.  However, these condensed financial statements include all adjustments (consisting of normal recurring adjustments) which, in the opinion of management, are necessary for a fair presentation of financial position, results of operations and cash flows for the interim periods.  The results of operations for interim periods are not necessarily indicative of the results to be expected for an entire year. The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the Company's condensed financial statements and accompanying notes. Actual results could differ materially from those estimates.
	Certain information, accounting policies, and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted in this Form 10-Q pursuant to certain rules and regulations of the Securities and Exchange Commission (“SEC”).  The condensed financial statements should be read in conjunction with the audited financial statements for the year ended September 30, 2014, which were included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2014 and filed with the Securities and Exchange Commission on December 15, 2014.
	Cash and Cash Equivalents
	GulfSlope considers highly liquid investments with insignificant interest rate risk and original maturities to the Company of three months or less to be cash equivalents.  Cash equivalents consist primarily of interest-bearing bank accounts and money market funds.  The Company's cash positions represent assets held in checking and money market accounts.  These assets are generally available on a daily or weekly basis and are highly liquid in nature.
	Liquidity/Going Concern
	We have incurred accumulated losses for the period from inception to December 31, 2014 of $25,507,868.  Further losses are anticipated in developing our business.  As a result, our auditors have expressed substantial doubt about our ability to continue as a going concern.  As of December 31, 2014, we had $2,806,038 of unrestricted cash on hand. We believe that under the current spending plan this capital should fund operations through March 2015. The Company estimates that it will need to raise a minimum of $10 million to meet its obligations and planned expenditures through December 31, 2015.  The Company plans to finance its operations through equity and/or debt financings.  Our policy has been to periodically raise funds through sale of equity on a limited basis, to avoid undue dilution while at the early stages of execution of our business plan.  Short term needs have been historically funded through loans from executive management.
	Full Cost Method
	The Company uses the full cost method of accounting for oil and gas exploration and development activities. Under the full cost method of accounting, all costs associated with the exploration for and development of oil and gas reserves are capitalized on a country-by-country basis into a single cost center (“full cost pool”). Such costs include land acquisition costs, geological and geophysical (“G&G”) expenses, carrying charges on non-producing properties, costs of drilling both productive and non-productive wells and overhead charges directly related to acquisition, exploration and development activities. All of the Company's oil and gas properties are located within the United States, its sole cost center.
	The costs of unproved properties and related capitalized costs are withheld from the depletion base until such time as they are either developed or abandoned.  When proved reserves are assigned or the property is considered to be impaired, the cost of the property or the amount of the impairment is added to costs subject to depletion and full cost ceiling calculations.  Capitalized costs that are directly associated with unproved properties acquired by the Company during the current quarter are included in the full cost pool.  As of December 31, 2014, the Company had no proved reserves.
	Companies that use the full cost method of accounting for oil and natural gas exploration and development activities are required to perform a ceiling test calculation each quarter. The full cost ceiling test is an impairment test prescribed by SEC Regulation S-X Rule 4-10. The ceiling test is performed quarterly, on a country-by-country basis, utilizing the average of prices in effect on the first day of the month for the preceding twelve-month period. The ceiling limits such pooled costs to the aggregate of the present value of future net revenues attributable to proved crude oil and natural gas reserves discounted at 10% plus the lower of cost or market value of unproved properties less any associated tax effects. If such capitalized costs exceed the ceiling, the Company will record a write-down to the extent of such excess as a non-cash charge to earnings. Any such write-down will reduce earnings in the period of occurrence and results in a lower depreciation, depletion and amortization rate in future periods. A write-down may not be reversed in future periods even though higher oil and natural gas prices may subsequently increase the ceiling.
	Proceeds from property sales will generally be credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves attributable to these costs.  A significant alteration would typically involve a sale of 25% or more of the proved reserves related to a single full cost pool.
	Basic and Dilutive Earnings Per Share
	Basic earnings per share (“EPS”) is computed by dividing net income (loss) (the numerator) by the weighted average number of common shares outstanding for the period (denominator).  Diluted EPS is computed by dividing net income (loss) by the weighted average number of common shares and potential common shares outstanding (if dilutive) during each period.  Potential common shares include stock options, warrants, and restricted stock.  The number of potential common shares outstanding relating to stock options, warrants, and restricted stock is computed using the treasury stock method.
	As the Company has incurred losses for the three months ended December 31, 2014 and 2013, the potentially dilutive shares are anti-dilutive and are thus not added into the loss per share calculations.  As of December 31, 2014 and 2013, there were 53,290,166 and 47,517,014 potentially dilutive shares.
	Recent Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU No. 2014-09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for annual reporting periods beginning after December 15, 2016.  Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.
	In June 2014, the FASB issued Accounting Standards Update No. 2014-10 (“ASU No. 2014-10”), which eliminated the definition of a Development Stage Entity and the related reporting requirements. ASU No. 2014-10 is effective for annual reporting periods beginning after December 15, 2014, with early adoption allowed.  In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows, and shareholder's equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.  The Company chose to adopt ASU No. 2014-10 early, effective in its financial statements for the period ended September 30, 2014.
	In August 2014,  the FASB issued Accounting Standard Update No. 2014-15 (“ASU No. 2014-15”),  Presentation of Financial Statements Going Concern (Subtopic 205-40) which requires management to assess an entity's ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, ASU 2014-15 provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management's plans and requires an express statement and other disclosures when substantial doubt is not alleviated. ASU No. 2014-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early application is permitted.  We are currently evaluating the accounting implication and do not believe the adoption of ASU 2014-15 to have material impact on our consolidated financial statements, although there may be additional disclosures upon adoption.
	The Company has evaluated all other recent accounting pronouncements and believes that none of them will have a significant effect on the Company's financial statements.

EXPLORATION_COSTS

EXPLORATION COSTS	3 Months Ended
	Dec. 31, 2014
EXPLORATION COSTS [Abstract]
EXPLORATION COSTS	NOTE 3 – EXPLORATION COSTS
	On March 20, 2013, the Company entered into an assignment and assumption agreement (the “Assignment Agreement”) with third parties pursuant to which the Company was assigned the exclusive right to license certain seismic data. On March 22, 2013, the Company executed a master license agreement with this seismic company. In consideration for the assignment and other transactions contemplated by the Assignment Agreement, the Company agreed to issue to the assignor parties an aggregate of 243,516,666 shares of the Company's common stock. The common stock was valued at $2,435,167 and the shares were subsequently issued in April 2013. In March 2013, the Company licensed certain seismic data from a geophysical company.  The seismic data license fee totaled $6,135,500.  Also in March 2013, the Company licensed certain seismic data from a second seismic company pursuant to another ordinary business course agreement.  The seismic data purchase totaled $4,012,260. These expenses were included in accrued expenses as of March 31, 2013 and also capitalized as oil and gas exploration costs. The Company properly capitalized these geological and geophysical (“G&G”) costs and included them in the depletion base because the Company did not yet own the specific unevaluated properties to which these costs were related. Therefore, these G&G costs were subject to the ceiling limitation test, resulting in immediate impairment in accordance with the full cost method for the year ended September 30, 2014.
	During April through September of 2013, the Company incurred $1,674,376 of costs associated with technological infrastructure and third party hosting services, $773,271 in consulting fees and salaries and benefits associated with full time geoscientists, and $90,000 in costs to participate in a geophysical research program with a public institution. The Company properly capitalized these G&G costs and included them in the depletion base.  Because the Company did not yet own the specific unevaluated properties these costs related to, these costs were subject to the ceiling limitation test, resulting in the immediate impairment of $15,120,574 for accounting purposes for the year ended September 30, 2013.
	From October 2013 through March 2014, the Company incurred $1,426,786 in consulting fees, salaries and benefits associated with consultants and full-time geoscientists, $1,219,317 associated with technological infrastructure and third party hosting services and seismic data, and $80,000 for an independent reserve study. The Company properly capitalized these G&G costs and included them in the depletion base as the Company did not yet own the specific unevaluated properties to which these costs were related. Therefore, these G&G costs were subject to the ceiling limitation test, resulting in the immediate impairment of $2,726,103 for accounting purposes for the year ended September 30, 2014.

OIL_AND_NATURAL_GAS_PROPERTIES

OIL AND NATURAL GAS PROPERTIES	3 Months Ended
	Dec. 31, 2014
OIL AND NATURAL GAS PROPERTIES [Abstract]
OIL AND NATURAL GAS PROPERTIES	NOTE 4 – OIL AND NATURAL GAS PROPERTIES
	During March 2014, the Company bid on 23 blocks in the Central Gulf of Mexico Lease Sale 231, conducted by the Bureau of Ocean Energy Management (“BOEM”). Of those 23 bids, we were the high bidder on 22 of 23 blocks. During May and June of 2014, the Company was awarded 21 of the 22 blocks and paid the remaining 80% lease bid amount and the first year lease rentals on all of the awarded blocks. The total amount paid was $8,126,972, which includes the lease deposit amount, the remaining 80% and the first year lease rental payment.
	In March 2014, the Company entered into a farm-out letter agreement with Texas South Energy, Inc. (“Texas South”) relating to five prospects located within the blocks the Company bid on at the Central Gulf of Mexico Lease Sale 231.  Under the terms of the farm-out letter agreement, Texas South may acquire up to a 20% working interest in these five prospects for up to $10 million.  As of December 31, 2014, the Company had received $8.2 million of the proceeds from the agreement.  In accordance with full cost requirements, the Company recorded the proceeds from the transaction as an adjustment to capitalized costs with no gain recognition.
	During the period April 1 to September 30, 2014, the Company incurred $1,365,239 in consulting fees and salaries and benefits associated with full-time geoscientists, and $763,767 associated with technological infrastructure, third party hosting services and seismic data. The Company properly capitalized these geological and geophysical (G&G) costs because the Company acquired specific unevaluated properties during the period to which these costs were related. The capitalized exploration costs of $2,129,006 and the $8,126,972 paid for the awarded leases are netted with the $8,200,000 received for the farm-out agreement resulting in the amount of our unproved oil and gas properties of $2,055,978 reflected on our balance sheet at September 30, 2014.
	During the period October 1 to December 31, 2014 the Company incurred $803,374 in consulting fees and salaries and benefits associated with full-time geoscientists, and $403,285 associated with technological infrastructure, third party hosting services and seismic data. The Company properly capitalized these G&G costs because the Company acquired specific unevaluated properties during the period that these costs relate to. These capitalized amounts when added to our unproved oil and gas properties result in $3,262,637 reflected on our balance sheet at December 31, 2014.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Dec. 31, 2014
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 – RELATED PARTY TRANSACTIONS
	During April through September 2013, the Company entered into convertible promissory notes whereby it borrowed a total of $6,500,000 from John Seitz, its current chief executive officer.   The notes are due on demand, bear interest at the rate of 5% per annum, and are convertible into shares of common stock at a conversion price equal to $0.12 per share of common stock (the then offering price of shares of common stock to unaffiliated investors). In May 2013, John Seitz converted $1,200,000 of the aforementioned debt into 10,000,000 shares of common stock, which shares were issued in July 2013.   Additionally, in June of 2014, the Company entered into a promissory note whereby it borrowed a total of $1,160,000 from Mr. Seitz. The note is due on demand and bears interest at a rate of 5% per annum. There was a total of $123,356 of unpaid interest associated with these loans included in accrued liabilities within our balance sheet as of December 31, 2014.
	During September 2013, the Company entered into convertible promissory notes whereby it borrowed a total of $200,000 from Dr. Ronald Bain, its current president and chief operating officer, and his affiliate ConRon Consulting, Inc.  The notes are due on demand, bear interest at the rate of 5% per annum, and are convertible into shares of common stock at a conversion price equal to $0.12 per share of common stock (the then offering price of shares of common stock to unaffiliated investors).  As of September 30, 2013, there was a total of $667 accrued interest associated with these loans and the Company has recorded interest expense for the same amount. In October 2013, Dr. Bain converted principal and accrued interest in the amount of $180,408 into 1,503,403 shares of common stock (a conversion rate of $0.12 per share).  In November 2013, the Company repaid in full the $20,000 remaining principal balance (plus accrued interest) of the convertible promissory note.
	In October 2013, the Company issued 937,500 shares of common stock to Brady Rodgers, the Company's Vice President Engineering and Business Development, to settle $112,500 of fees due to Mr. Rodgers for services rendered.
	In October 2013, the Company issued to Brady Rodgers, the Company's Vice President Engineering and Business Development, a ten-year option to purchase 2,000,000 shares of the Company's common stock at an exercise price of $0.12 per share.  A fair value of $161,143 was computed using the Black-Scholes option-pricing model, of which $15,558 has been expensed during the three months ended December 31, 2014, and $25,632 for the three months ended December 31, 2013. The options vested 50% in October 2014 and 50% will vest in October 2015.
	Domenica Seitz, CPA, has provided accounting consulting services to the Company. During the fiscal year ended September 30, 2014, the level of services provided was valued at $59,510 based on market-competitive salaries, time devoted and professional rates. During the three month period ended December 31, 2014, services provided were valued at $14,880.  The Company has accrued these amounts, and they are reflected in the December 31, 2014 condensed financial statements. The Company has also engaged a third party professional services firm to assist with accounting and internal controls and maintains the proper segregation of duties.
	John Seitz has not received a salary since May 31, 2013, the date he commenced serving as our chief executive officer and accordingly, no amount has been accrued on our financial statements. Prior to serving as Chief Executive Officer, John Seitz served as a Company consultant and the Company has accrued $120,000 of consulting compensation owed to Mr. Seitz.  This amount was paid in August 2014.  As of December 31, 2014, Mr. Seitz beneficially owns 244,595,722 shares of the Company's common stock (including shares issuable upon conversion of the principal amount of convertible notes held by Mr. Seitz).  The Company recognizes that his level of stock ownership significantly aligns his interests with shareholders' interests. From time to time, the Compensation Committee may consider compensation arrangements for Mr. Seitz given his continuing contributions and leadership.
	In connection with the Company's 2013 private placement of common stock at a purchase price of $0.12 per share, Mr. John Malanga, our CFO, purchased 166,667 shares, Mr. Brady Rodgers, our V.P. Engineering and Business Development purchased 256,106 shares of common stock, Mr. Paul Morris, a director, purchased 1,666,667 shares of common stock, and Mr. Richard Langdon, a director, purchased 416,667 shares of common stock.
	In connection with the Company's 2014 private placement of common stock at a purchase price of $0.24 per share, Mr. Bain, our President and COO, purchased 750,000 shares of common stock, Mr. Charles Hughes, Vice President, Land purchased 100,000  shares of common stock, and Mr. Paul Morris, a Director, purchased 416,667 shares of common stock.

COMMON_STOCKPAID_IN_CAPITAL

COMMON STOCK/PAID IN CAPITAL	3 Months Ended
	Dec. 31, 2014
COMMON STOCK/PAID IN CAPITAL [Abstract]
COMMON STOCK/PAID IN CAPITAL	NOTE 6 – COMMON STOCK/PAID IN CAPITAL
	During April through October of 2013 the Company sold 68,496,107 shares of common stock for proceeds of $8,219,533 or $0.12 per share. The Company issued 10,000,000 shares of common stock to Mr. Seitz, its chief executive officer, to settle $1,200,000 in convertible debt (see Note 5, above) and 1,503,403 shares of common stock to Dr. Ron Bain, its chief operating officer, for the conversion of $180,408 of convertible debt and accrued interest (see Note 5 above).  The Company also issued 937,500 shares of common stock to Mr. Rodgers, the Company's vice president engineering, to settle $112,500 of fees due to Mr. Rodgers for services rendered.
	In October 2013, the Company issued 1,620,000 shares of common stock, with a fair value of $194,400, to three employees pursuant to employment arrangements. The Company also made gross-up payments to cover the three employees' personal income tax obligations in connection with these grants.
	In October 2013, the Company issued a ten-year option to purchase 2,000,000 shares of the Company's common stock at an exercise price of $0.12 per share to Mr. Rodgers. The options vest 50% in October 2014 and 50% in October 2015.
	In March 2014, the Company awarded 500,000 shares of restricted stock to an employee, of which one-half vests in April 2015 and the remaining half vests in April 2016.
	In March 2014, the Company issued an aggregate of 1,000,000 shares of restricted stock to two non-employee directors.  The restricted stock is subject to vesting pursuant to which one-half will vest on March 2015 and the remaining one-half will vest on March 2016.
	In May 2014, the Company awarded 550,000 shares of restricted stock to an employee, one-half of which vests in May 2015 and the remaining half vests in May 2016.
	At our annual meeting in May of 2014 our shareholders approved increasing the number of authorized shares of common stock from 750,000,000 to 975,000,000. The number of authorized shares of preferred stock was not changed and remains at 50,000,000.
	The Company shareholders approved the 2014 Omnibus Incentive Plan on May of 29, 2014.   Restricted stock awards made after this date, to executives and employees, were made pursuant to the plan.
	During July 2014, the Company sold 33,448,335 shares of common stock in a private placement at a price of $0.24 per share for $8,027,600 cash.
	In July 2014, John H. Malanga, chief financial officer and chief accounting officer, was awarded 2,500,000 inducement shares of restricted stock, with a fair value of $600,000, one-half of which vests in July 2015 and the remaining half vests in July 2016.
	In August 2014, a new employee was awarded 200,000 inducement shares of restricted stock, one-half of which vests in August 2015 and the remaining half vests in August 2016.
	In August 2014, the Company closed an equity financing in which 1,500,000 shares of common stock were sold at a price of $0.24 per share for gross proceeds of $360,000.
	In September 2014, the Company awarded 3,030,000 shares of restricted stock to six employees under the Company's 2014 Omnibus Incentive Plan, one-half of which vests in September 2015 and the remaining half vests in September 2016.
	Shares of the restricted stock awards will be issued to the recipients according to the vesting terms.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Dec. 31, 2014
STOCK-BASED COMPENSATION [Abstract]
STOCK-BASED COMPENSATION	NOTE 7– STOCK-BASED COMPENSATION
	Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized over the required vesting period. The Company recognized $218,208 and $25,632 in stock-based compensation during the three months ended December 31, 2014, and December 31, 2013, respectively.  A portion of these costs were capitalized to unproved properties and the remainder were recorded as general and administrative expenses.
	The following table summarizes the Company's stock option activity during the three months ended December 31, 2014:
		Number		Weighted Average		Weighted Average Remaining Contractual Term (In years)
		of Options		Exercise Price
	Outstanding at September 30, 2014		2,000,000		-
	Granted		-		-
	Exercised		-		-
	Cancelled		-		-
	Outstanding at December 31, 2014		2,000,000	$	0.12		4.56
	Vested and expected to vest		2,000,000	$	0.12		4.56
	Exercisable at December 31, 2014		1,000,000		-		-
	As of December 31, 2014 there was $32,712 of unrecognized stock-based compensation cost related to the stock option grant that is expected to be expensed over a weighted-average period of one year.  There was no intrinsic value for options outstanding as of December 31, 2014.  As of December 31, 2014 there was $1,275,500 of unrecognized stock-based compensation cost related to restricted stock grants that is expected to be expensed over a period of 21 months.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Dec. 31, 2014
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8– COMMITMENTS AND CONTINGENCIES
	In March 2013, the Company licensed certain seismic data pursuant to two agreements.  With respect to the first agreement, as of December 31, 2014, the Company has paid $4,635,500.  The Company is obligated to provide an additional $1,500,000 in an escrow account upon the delivery of certain seismic data by the vendor to the Company, which occurred in July 2014.  This amount will be paid to the seismic company in March of 2015. With respect to the second agreement, as of December 31, 2014, the Company has paid $3,009,195 in cash, and is obligated to pay $1,003,065 during April 2015.
	In July 2013, the Company entered into a two-year office lease agreement.  The agreement calls for monthly payments of approximately $20,200 for the first twelve months and $20,500 for the second twelve months.  In addition, the Company paid a security deposit of $18,760 in July 2013.
	In October 2013, the Company purchased an insurance policy and financed the premium by executing a note payable in the amount of $114,748. The note was paid in full in September of 2014.
	In May 2014, the Company entered into an agreement with a seismic data reprocessing company in which the Company agreed to purchase an aggregate of $3 million of reprocessing services prior to May 2015, of which $1.5 million will be paid in cash and the remaining amount by the issuance of 2 million shares of our common stock using the valuation of $0.75 per share  As of December 31, 2014 approximately $65,000 of services have been provided under this agreement.
	In October 2014, the Company purchased an insurance policy and financed the premium by executing a note payable in the amount of $224,361. The balance of the note payable at December 31, 2014 is $184,252.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Dec. 31, 2014
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS
	In January 2015, the Company issued 347,212 shares of common stock to three vendors in exchange for their services.

SIGNIFICANT_ACCOUNTING_POLICIE1

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Dec. 31, 2014
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents
	GulfSlope considers highly liquid investments with insignificant interest rate risk and original maturities to the Company of three months or less to be cash equivalents.  Cash equivalents consist primarily of interest-bearing bank accounts and money market funds.  The Company's cash positions represent assets held in checking and money market accounts.  These assets are generally available on a daily or weekly basis and are highly liquid in nature.
Liquidity/Going Concern	Liquidity/Going Concern
	We have incurred accumulated losses for the period from inception to December 31, 2014 of $25,507,868.  Further losses are anticipated in developing our business.  As a result, our auditors have expressed substantial doubt about our ability to continue as a going concern.  As of December 31, 2014, we had $2,806,038 of unrestricted cash on hand. We believe that under the current spending plan this capital should fund operations through March 2015. The Company estimates that it will need to raise a minimum of $10 million to meet its obligations and planned expenditures through December 31, 2015.  The Company plans to finance its operations through equity and/or debt financings.  Our policy has been to periodically raise funds through sale of equity on a limited basis, to avoid undue dilution while at the early stages of execution of our business plan.  Short term needs have been historically funded through loans from executive management.
Full Cost Method	Full Cost Method
	The Company uses the full cost method of accounting for oil and gas exploration and development activities. Under the full cost method of accounting, all costs associated with the exploration for and development of oil and gas reserves are capitalized on a country-by-country basis into a single cost center (“full cost pool”). Such costs include land acquisition costs, geological and geophysical (“G&G”) expenses, carrying charges on non-producing properties, costs of drilling both productive and non-productive wells and overhead charges directly related to acquisition, exploration and development activities. All of the Company's oil and gas properties are located within the United States, its sole cost center.
	The costs of unproved properties and related capitalized costs are withheld from the depletion base until such time as they are either developed or abandoned.  When proved reserves are assigned or the property is considered to be impaired, the cost of the property or the amount of the impairment is added to costs subject to depletion and full cost ceiling calculations.  Capitalized costs that are directly associated with unproved properties acquired by the Company during the current quarter are included in the full cost pool.  As of December 31, 2014, the Company had no proved reserves.
	Companies that use the full cost method of accounting for oil and natural gas exploration and development activities are required to perform a ceiling test calculation each quarter. The full cost ceiling test is an impairment test prescribed by SEC Regulation S-X Rule 4-10. The ceiling test is performed quarterly, on a country-by-country basis, utilizing the average of prices in effect on the first day of the month for the preceding twelve-month period. The ceiling limits such pooled costs to the aggregate of the present value of future net revenues attributable to proved crude oil and natural gas reserves discounted at 10% plus the lower of cost or market value of unproved properties less any associated tax effects. If such capitalized costs exceed the ceiling, the Company will record a write-down to the extent of such excess as a non-cash charge to earnings. Any such write-down will reduce earnings in the period of occurrence and results in a lower depreciation, depletion and amortization rate in future periods. A write-down may not be reversed in future periods even though higher oil and natural gas prices may subsequently increase the ceiling.
	Proceeds from property sales will generally be credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves attributable to these costs.  A significant alteration would typically involve a sale of 25% or more of the proved reserves related to a single full cost pool.
Basic and Dilutive Earnings Per Share	Basic and Dilutive Earnings Per Share
	Basic earnings per share (“EPS”) is computed by dividing net income (loss) (the numerator) by the weighted average number of common shares outstanding for the period (denominator).  Diluted EPS is computed by dividing net income (loss) by the weighted average number of common shares and potential common shares outstanding (if dilutive) during each period.  Potential common shares include stock options, warrants, and restricted stock.  The number of potential common shares outstanding relating to stock options, warrants, and restricted stock is computed using the treasury stock method.
	As the Company has incurred losses for the three months ended December 31, 2014 and 2013, the potentially dilutive shares are anti-dilutive and are thus not added into the loss per share calculations.  As of December 31, 2014 and 2013, there were 53,290,166 and 47,517,014 potentially dilutive shares.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU No. 2014-09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for annual reporting periods beginning after December 15, 2016.  Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.
	In June 2014, the FASB issued Accounting Standards Update No. 2014-10 (“ASU No. 2014-10”), which eliminated the definition of a Development Stage Entity and the related reporting requirements. ASU No. 2014-10 is effective for annual reporting periods beginning after December 15, 2014, with early adoption allowed.  In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows, and shareholder's equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.  The Company chose to adopt ASU No. 2014-10 early, effective in its financial statements for the period ended September 30, 2014.
	In August 2014,  the FASB issued Accounting Standard Update No. 2014-15 (“ASU No. 2014-15”),  Presentation of Financial Statements Going Concern (Subtopic 205-40) which requires management to assess an entity's ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, ASU 2014-15 provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management's plans and requires an express statement and other disclosures when substantial doubt is not alleviated. ASU No. 2014-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early application is permitted.  We are currently evaluating the accounting implication and do not believe the adoption of ASU 2014-15 to have material impact on our consolidated financial statements, although there may be additional disclosures upon adoption.
	The Company has evaluated all other recent accounting pronouncements and believes that none of them will have a significant effect on the Company's financial statements.

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Dec. 31, 2014
STOCK-BASED COMPENSATION [Abstract]
Summary of Stock Options Activity	The following table summarizes the Company's stock option activity during the three months ended December 31, 2014:
		Number		Weighted Average		Weighted Average Remaining Contractual Term (In years)
		of Options		Exercise Price
	Outstanding at September 30, 2014		2,000,000		-
	Granted		-		-
	Exercised		-		-
	Cancelled		-		-
	Outstanding at December 31, 2014		2,000,000	$	0.12		4.56
	Vested and expected to vest		2,000,000	$	0.12		4.56
	Exercisable at December 31, 2014		1,000,000		-		-

ORGANIZATION_AND_NATURE_OF_BUS1

ORGANIZATION AND NATURE OF BUSINESS (Details)	3 Months Ended
	Dec. 31, 2014
	item
	acre
	m
ORGANIZATION AND NATURE OF BUSINESS [Abstract]
Minimum area under water where exploration activity are conducted	1,000
Number of leased federal outer continental shelf blocks	21
Area of three-dimensional (3-D) seismic data licensed	2,200,000
Number of leases acquired of hydrocarbon deposits	17

SIGNIFICANT_ACCOUNTING_POLICIE2

SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2013
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Accumulated losses	$25,507,868		$24,659,677
Cash	2,806,038	3,344,071	4,410,302	310,199
Minimum capital which company estimated to raise to meet its obligations and planned expenditures through December 31, 2015	$10,000,000
Shares excluded from the computation of diluted loss per share	53,290,166	47,517,014

EXPLORATION_COSTS_Details

EXPLORATION COSTS (Details) (USD $)	3 Months Ended		12 Months Ended		1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2013	Mar. 31, 2013	Mar. 31, 2014
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Impairment of Oil and Natural Gas Properties		$1,676,548	$2,726,103	$15,120,574
License Fee [Member]
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Exploration costs capitalized during the period					6,135,500
Seismic Data Purchase [Member]
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Exploration costs capitalized during the period					4,012,260
Geophysical Research Program [Member]
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Exploration costs capitalized during the period				90,000
Technological Infrastructure And Third Party Hosting Services [Member]
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Exploration costs capitalized during the period				1,674,376		1,219,317
Consulting Fees And Salaries And Benefits [Member]
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Exploration costs capitalized during the period				773,271		1,426,786
Independent Reserve Study [Member]
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Exploration costs capitalized during the period						80,000
TGS [Member]
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Shares issued in consideration for seismic data					243,516,666
Value of shares issued in consideration for seismic data					$2,435,167

OIL_AND_NATURAL_GAS_PROPERTIES1

OIL AND NATURAL GAS PROPERTIES (Details) (USD $)	3 Months Ended	6 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Exploration costs capitalized during the period	$2,129,006
Paid for lease	8,126,972
Proceeds from sale of working interest	8,200,000
Unproved oil and gas properties	3,262,637	2,055,978
Technological Infrastructure And Third Party Hosting Services [Member]
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Exploration costs capitalized during the period	403,285	763,767
Consulting Fees And Salaries And Benefits [Member]
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Exploration costs capitalized during the period	803,374	1,365,239
Farm Out Letter Agreement Texas South [Member]
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]
Maximum proceeds to be received under farm out agreement	10,000,000
Proceeds received under farm out agreement	$8,200,000

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)

3 Months Ended

1 Months Ended

7 Months Ended

1 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Oct. 31, 2013

Jan. 31, 2015

Jun. 30, 2014

31-May-13

Nov. 30, 2013

Sep. 30, 2013

Oct. 31, 2013

Mar. 31, 2014

Sep. 30, 2014

Aug. 31, 2014

Related Party Transaction [Line Items]

Payment to related party

$20,000

Exercise price

$0.12

Stock-based compensation

218,208

25,632

Accrued expense

123,356

40,812

Common stock issued, price per share

$0.24

Private Placement [Member]

Related Party Transaction [Line Items]

Stock issued during period, shares

166,667

Subsequent Event [Member]

Related Party Transaction [Line Items]

Issuance of common stock for services, shares

347,212

John Seitz [Member]

Related Party Transaction [Line Items]

Note payable from related party, original amount

1,160,000

6,500,000

Interest rate

5.00%

5.00%

Debt conversion, price per share

$0.12

Stock issued for debt

1,200,000

Conversion of notes payable, shares

10,000,000

Interest Expense

123,356

Accrued expense

120,000

Number of common shares beneficially owned

244,595,722

Dr. Ronald Bain [Member]

Related Party Transaction [Line Items]

Proceeds from Related Party Loans

200,000

Interest rate

5.00%

Debt conversion, price per share

0.12

$0.12

$0.12

Stock issued for debt

180,408

Conversion of notes payable, shares

1,503,403

Interest Expense

667

Payment to related party

20,000

Dr. Ronald Bain [Member] | Private Placement [Member]

Related Party Transaction [Line Items]

Stock issued during period, shares

750,000

Common stock issued, price per share

$0.24

Brady Rodgers [Member]

Related Party Transaction [Line Items]

Issuance of common stock for services

112,500

Issuance of common stock for services, shares

937,500

Number of common stock shares that can be purchased through options granted

2,000,000

Exercise price

0.12

$0.12

Stock-based compensation

15,558

25,632

161,143

Brady Rodgers [Member] | Private Placement [Member]

Related Party Transaction [Line Items]

Stock issued during period, shares

256,106

Brady Rodgers [Member] | October 2014 [Member]

Related Party Transaction [Line Items]

Vesting percentage of options granted

50.00%

Brady Rodgers [Member] | October 2015 [Member]

Related Party Transaction [Line Items]

Vesting percentage of options granted

50.00%

Paul Morris [Member] | Private Placement [Member]

Related Party Transaction [Line Items]

Stock issued during period, shares

100,000

1,666,667

Common stock issued, price per share

$0.24

Richard Langdon [Member] | Private Placement [Member]

Related Party Transaction [Line Items]

Stock issued during period, shares

416,667

Domenica Seitz [Member]

Related Party Transaction [Line Items]

Accrued expense

$14,880

$59,510

Mr. Charles Hughes [Member] | Private Placement [Member]

Related Party Transaction [Line Items]

Stock issued during period, shares

416,667

Common stock issued, price per share

$0.24

James Askew [Member]

Related Party Transaction [Line Items]

Issuance of common stock for services, shares

1,000,000

COMMON_STOCKPAID_IN_CAPITAL_De

COMMON STOCK/PAID IN CAPITAL (Details) (USD $)	1 Months Ended	3 Months Ended		7 Months Ended	1 Months Ended
	Aug. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Oct. 31, 2013	Jan. 31, 2015	Mar. 31, 2014	Jul. 31, 2014	Oct. 31, 2013	Sep. 30, 2014	31-May-14	31-May-13
Common Stock Issuance [Line Items]
Shares issued				68,496,107				68,496,107
Stock Issued for Services		$105,202	$221,472
Shares of common stock issued for cash	1,500,000
Common shares issued for cash	360,000			8,219,533
Common Stock, shares authorized		975,000,000							975,000,000	750,000,000
Common Stock, par value per share		$0.00							0.001
Preferred Stock, shares authorized		50,000,000							50,000,000	50,000,000
Preferred Stock, par value per share		$0.00							0.001
Accrued liabilities		123,356							40,812
Shares issued, price per share	$0.24
Weighted average exercise price per share		$0.12
Subsequent Event [Member]
Common Stock Issuance [Line Items]
Shares of stock issued for services					347,212
James Askew [Member]
Common Stock Issuance [Line Items]
Shares of stock issued for services						1,000,000
Private Placement [Member]
Common Stock Issuance [Line Items]
Shares of common stock issued for cash							33,448,335
Common shares issued for cash							8,027,600
Shares issued, price per share							$0.24
John Seitz [Member]
Common Stock Issuance [Line Items]
Shares issued				10,000,000				10,000,000
Common shares issued for cash				1,200,000
Common stock issued for consulting services, per share value				$0.12
Accrued liabilities											120,000
Brady Rodgers [Member]
Common Stock Issuance [Line Items]
Shares of stock issued for services				937,500
Value of stock issued for services				112,500
Weighted average exercise price per share				$0.12				$0.12
Number of common stock shares that can be purchased through options granted								2,000,000
Employees [Member]
Common Stock Issuance [Line Items]
Stock Issued for Services								194,400
Shares of stock issued for services						500,000		1,620,000	3,030,000	550,000
John H. Malanga, Chief Financial Officer and Chief Accounting Officer [Member]
Common Stock Issuance [Line Items]
Shares of stock issued for services							2,500,000
Value of stock issued for services							600,000
Ron Bain, COO [Member]
Common Stock Issuance [Line Items]
Shares issued				1,503,403				1,503,403
Common shares issued for cash				$180,408
New Employee [Member]
Common Stock Issuance [Line Items]
Shares of stock issued for services	200,000

STOCKBASED_COMPENSATION_Narrat

STOCK-BASED COMPENSATION (Narrative) (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Stock-based compensation [Line Items]
Stock-based compensation	$218,208	$25,632
Options outstanding, aggregate intrinsic value	0
Stock option [Member]
Stock-based compensation [Line Items]
Unrecognized compensation cost	32,712
Unrecognized compensation cost, period of recognition	1 year
Restricted stock [Member]
Stock-based compensation [Line Items]
Unrecognized compensation cost	$1,275,500
Unrecognized compensation cost, period of recognition	21 months

STOCKBASED_COMPENSATION_Summar

STOCK-BASED COMPENSATION (Summary of Stock Options Activity) (Details) (USD $)	3 Months Ended
	Dec. 31, 2014
Number of Options
Outstanding at beginning of period	2,000,000
Granted
Exercised
Cancelled
Outstanding at end of period	2,000,000
Vested and expected to vest	2,000,000
Exercisable at end of period	1,000,000
Weighted Average Exercise Price
Outstanding at beginning of period
Granted
Exercised
Cancelled
Outstanding at end of period	$0.12
Vested and expected to vest	$0.12
Exercisable at end of period
Weighted Average Remaining Contractual Term
Outstanding at end of period	4 years 6 months 22 days
Vested and expected to vest	4 years 6 months 22 days

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	1 Months Ended			3 Months Ended		1 Months Ended
Share data in Millions, except Per Share data, unless otherwise specified	Oct. 31, 2014	31-May-14	Oct. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Jul. 31, 2013
				item
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Security deposit						$18,760
Prepaid Asset Financed by Note Payable			114,748	224,361	114,748
Aggregate purchase of reprocessing services		3,000,000
Reprocessing services purchase payment in cash		1,500,000
Shares issued for reprocessing services purchase		2
Price per share		$0.75
Number of reprocessing services provided				65,000
Amount of premium paid by executing a note payable	224,361
Prepaid Asset Financed by Note Payable Outstanding Amount				184,252
First Period [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Agreement monthly amount						20,200
Second Period [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Agreement monthly amount						20,500
TGS [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Payments for exploration costs				4,635,500
Remaining amount obligated to escrow by end of April, 2013				1,500,000
Payment due during April 2015				1,003,065
Nonspecified Siesmic Company [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Payments for exploration costs				$3,009,195

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (Subsequent Event [Member])	1 Months Ended
	Jan. 31, 2015
	item
Subsequent Event [Member]
Subsequent Event [Line Items]
Shares of stock issued for services	347,212
Number of vendors to who stock issued for services	3