Nimin Energy (NEYYF) 10-K 24 Mar 14 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2013	Mar. 24, 2014
Document and Entity Information	'	'
Entity Registrant Name	'NiMin Energy Corp.	'
Document Type	'10-K	'
Document Period End Date	31-Dec-13	'
Amendment Flag	'false	'
Entity Central Index Key	'0001404636	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	69,834,396
Entity Filer Category	'Non-accelerated Filer	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'FY	'
Entity Public Float	$4,888,408	'

Consolidated_Statements_of_Net

Consolidated Statements of Net Assets as of December 31, 2013 and December 31, 2012 (Liquidation Basis) (Expressed in U.S. dollars) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Current assets:	'	'
Cash and cash equivalents.	$6,864,806	$9,657,306
Other accounts receivable	7,515	60,129
Income tax receivable	0	329,185
Total assets	6,872,321	10,046,620
Current liabilities:	'	'
Accounts payable	91,645	71,654
Accrued professional fees related to liquidation	1,691,940	1,481,470
Other costs related to liquidation	185,549	452,717
Asset retirement obligations,	0	203,861
Total liabilities	1,969,134	2,209,702
Net assets in liquidation (Note 2)	$4,903,187	$7,836,918
Net assets in liquidation per outstanding share	$0.07	$0.11

Consolidated_Statements_of_Net1

Consolidated Statements of Net Assets as of December 31, 2013 and December 31, 2012 (Liquidation Basis) Parentheticals (USD $)	Dec. 31, 2013	Dec. 31, 2012
Parentheticals	'	'
Common Stock, no par value	$0	$0
Common Stock, shares issued	69,834,396	69,834,396
Common Stock, shares outstanding	69,834,396	69,834,396

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Loss (Going Concern Basis) (Expressed in U.S. dollars) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Revenues:	'	'
Crude oil and natural gas revenues	$10,985,590	$24,305,685
Expenses:	'	'
Operating costs	4,257,619	11,565,565
General and administrative	6,043,260	7,894,479
Liquidation related expenses	7,537,423	0
Depreciation, depletion, amortization, and accretion	1,697,361	3,507,669
(Gain) Loss on crude oil derivative contracts	-189,507	753,053
Total Operating Expenses	19,346,156	23,720,766
Income (loss) before other items	-8,360,566	584,919
Interest income	10,673	44,595
Interest expense	-6,443,178	-5,406,133
Foreign exchange gain (loss)	-438	-26,101
Change in fair value of options	296,519	707,513
Change in fair value of warrants	235,134	1,062,208
Other	-22,818	-196,649
Other Reclamation Costs	-659,115	0
Gain on sale of oil & gas properties and equipment	46,280,232	0
Total other income	39,697,009	-3,814,567
Income (loss) before taxes	31,336,443	-3,229,648
Income tax expense	2,478,263	0
Net Income (loss) and comprehensive income (loss)	$28,858,180	($3,229,648)
Basic and diluted income (loss) per share	$0.41	($0.05)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Going Concern Basis) (Expressed in U.S. dollars) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Cash flows operating activities:	'	'
Net Income (loss)	$28,858,180	($3,229,648)
Depreciation, depletion, amortization, and accretion,	1,697,361	3,507,669
Change in fair values of options.	-296,519	-707,513
Changes in fair value of warrants.	-235,134	-1,062,208
Gain on sale of oil and gas properties.	-46,377,296	0
Stock-based compensation	2,289,568	2,605,892
Unrealized (gain) loss on crude oil derivative contracts	82,731	-365,109
Write down of fixed assets	97,064	0
Non-cash interest expense	3,497,867	906,569
Trade accounts receivable	1,061,589	-1,307,337
Prepaid expenses	311,922	-49,712
Crude oil inventory	149,553	91,822
Other Assets	0	1,797
Accounts payable and accrued liabilities	7,850,251	-1,105,344
Asset retirement obligation	659,114	0
Net cash provided by (used in) operating activities	-353,750	-713,122
Purchase of and expenditures on crude oil and natural gas properties	-1,579,255	-18,044,984
Divestiture of crude and natural gas properties	0	1,000,000
Sale of oil & gas properties	119,245,819	0
Purchase of equipment	0	-68,564
Increase in restricted investments	-3,143,741	19,208
Net cash provided by (used in) investing activities	114,522,823	-17,094,340
Repayment of long-term debt	-36,000,000	0
Repurchase of options	-29,108	0
Exercise of warrants and options	0	8,521,761
Proceeds from issuance of common shares (net of costs)	0	3,606,725
Net cash provided by (used in) financing activities	-36,029,108	12,128,486
Change in cash and cash equivalents during the period	78,139,965	-5,678,976
Cash and cash equivalents at beginning of the period	3,811,028	9,490,005
Cash and cash equivalents at end of the period	81,950,992	3,811,029
Cash paid for interest	$2,945,444	$4,500,000

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' Equity (Going Concern Basis) (Expressed in U.S. dollars) (USD $)	Common Stock Shares	Common Stock Amount	Additional Paid in Capital	Accumulated Deficit	Total Stockholders' Equity
		USD ($)	USD ($)	USD ($)	USD ($)
Balance at Dec. 31, 2010	61,690,977	93,107,905	9,861,010	-70,891,787	-32,077,128
Exercise of options	29,999	59,411	-21,022	'	38,389
Exercise of warrants	5,354,800	8,483,372	'	'	8,483,372
Reclassified from warrant liability	'	$4,258,164	'	'	$4,258,164
Reclassified to options liability	'	'	-1,025,463	169,804	-855,659
Issuance of common stock	2,758,620	3,166,057	844,488	'	4,010,545
Stock issuance cost	'	-316,449	-87,371	'	-403,820
Stock-based compensation expense	'	'	2,605,892	'	2,605,892
Net loss,	'	'	'	-3,229,648	-3,229,648
Balance at Dec. 31, 2011	69,834,396	108,758,460	12,177,534	-73,951,631	46,984,363
Options repurchased	'	29,108	'	'	-29,108
Reclassified to options liability,	'	'	-188,467	'	-188,467
Stock-based compensation expense,	'	'	2,289,568	'	2,289,568
Net Income,	'	'	'	$28,858,180	$28,858,180
Balance at Jun. 30, 2012	69,834,396	108,729,352	14,278,635	-45,093,451	77,914,536

Consolidated_Statement_of_Chan

Consolidated Statement of Changes in Nets Assets in Liquidation as of December 31, 2013 (Liquidation Basis) (Expressed in U.S. dollars) (Net Assets, USD $)	Net Assets
	USD ($)
Net Assets in Liquidation at Jun. 30, 2012	$77,914,536
Increase (decrease) to net assets:	'
Cash distribution to shareholders from July 1, 2012 to December 31, 2012	-70,532,740
Investment income from July 1, 2012 to December 31, 2012	56,213
Tax Adjustment from July 1, 2012 to December 31, 2012	1,019,447
Adjustments to assets from July 1, 2012 to December 31, 2012	-55,927
Adjustments to liquidation accruals from July 1, 2012 to December 31, 2012	-528,868
Costs incurred from July 1, 2012 to December 31, 2012	-85,255
Foreign exchange adjustment from July 1, 2012 to December 31, 2012	49,512
Net decrease to net assets:	-70,077,618
Net Assets in Liquidation , at Dec. 31, 2012	7,836,918
Net Assets in Liquidation at Dec. 31, 2012	'
Increase (decrease) to net assets:	'
Adjustments to assets from January 1, 2013 to December 31, 2013	-28,689
Adjustments to liquidation accruals from January 1, 2013 to December 31, 2013	-2,847,920
Foreign exchange adjustment from January 1, 2013 to December 31, 2013	-57,122
Net decrease to net assets	-2,933,731
Net Assets in Liquidation . at Dec. 31, 2013	$4,903,187

Description_of_the_Business

Description of the Business	12 Months Ended
	Dec. 31, 2013
Description of the Business	'
Description of the Business	'
	1.Description of the Business
	NiMin Energy Corp. (the “Company” or “NiMin”) was incorporated under the name NiMin Capital Corp. under the Business Corporations Act (Alberta) on May 31, 2007.  The Company changed its name to NiMin Energy Corp. on September 3, 2009, and consolidated its shares on the basis of one new post-consolidation share (“Common Shares”) for each three existing Common Shares.
	The principal business of the Company was conducted through its wholly owned subsidiary, Legacy Energy, Inc. (“Legacy”), a Delaware company that was engaged in the exploration, development, and production of crude oil and natural gas properties in the states of California and Wyoming until the sale of its assets in June 2012.
	The annual and special meeting (the "Special Meeting") of holders (“Shareholders”) of Common Shares of the Company (“Common Shares”) was held on June 26, 2012.  At the Special Meeting, in addition to annual items of business, Shareholders were asked to consider and vote on, among other things, special resolutions approving the proposed sale of all or substantially all of the Company's assets (the "Sale of Assets") including those assets held by NiMin's wholly-owned subsidiary, Legacy, pursuant to purchase and sale agreements with respect to its Wyoming based assets and California based assets.
	At the Special Meeting, the Shareholders were also asked to consider and vote on the voluntary winding up and dissolution of the Company pursuant to the laws of the Business Corporations Act (Alberta) (the "Winding Up") and the distribution to Shareholders of the net proceeds of the Sale of Assets (less the settlement of obligations of Legacy) and cash on hand, as part of such liquidation and dissolution after satisfaction of all liabilities of the Company, by way of a reduction of the stated capital of the Common Shares of the Company.
	Both the Sale of Assets and the Winding Up were approved by the Shareholders at the Special Meeting.  In order for the Company to complete the Winding Up, the appropriate corporate steps were required to be taken for the dissolution and liquidation of Legacy. Pursuant to the approval of the Sale of Assets, Legacy proceeded with the sale of the Wyoming oil and gas assets and the California oil and gas assets all as more particularly described below.
	On June 28, 2012, Legacy completed its previously announced sale of its assets in Wyoming's Big Horn Basin (the "Wyoming Assets") to BreitBurn Operating L.P., a wholly-owned subsidiary of BreitBurn Energy Partners L.P. (NASDAQ: BBEP “BreitBurn”), for total cash consideration of approximately $93 million, being the original purchase price of approximately $98 million less approximately $5 million adjusted to account for preliminary purchase price adjustments.  On August 30, 2012, Legacy completed its final settlement with BreitBurn and received approximately $2.3 million based on the final purchase price adjustments.
	On June 29, 2012, Legacy completed its previously announced sale of its assets in California's San Joaquin Basin (the "California Assets") to Southern San Joaquin Production, LLC for total cash consideration of approximately $26 million, being the original purchase price of approximately $27 million, less approximately $1 million adjusted to account for preliminary purchase price adjustments. Pursuant to the terms of the purchase and sale agreement, $3 million of the $26 million purchase price paid on closing had been deposited with an escrow agent until December 28, 2012 in connection with various indemnities contained therein.  On August 30, 2012, Legacy completed its final settlement with Southern San Joaquin Production LLC and received $347,938 based on the final purchase price adjustments. On December 28, 2012, the $3 million was released to NiMin from the escrow account.
	The Winding Up and the dissolution and liquidation of Legacy contemplates the orderly disposition of the assets, the orderly discharge of all outstanding liabilities, including all outstanding debt, and after the establishment of appropriate reserves, the distribution of cash to Shareholders in installments.
	On September 24, 2012, the Board declared an initial distribution to Shareholders of $1.01 per Common Share. The distribution was made as a return of capital to Shareholders of record at the close of business on October 9, 2012, and the stated capital of the Company was reduced accordingly. The distribution of $70,532,740 was paid on October 22, 2012.
	Upon settlement of all liabilities of the Company, the Company intends to distribute the remaining net proceeds of the liquidation and dissolution of the Company to Shareholders in one final distribution occuring in mid-year 2014
	NiMin’s wholly-owned subsidiary, Legacy Energy, Inc., a Delaware company, dissolved in accordance with the laws of Delaware on September 17, 2012.
	Nimin voluntarily delisted its Common Shares from the Toronto Stock Exchange ("TSX") after the close of trading on October 22, 2012, the date on which NiMin's initial distribution was "payable" and its listing was transferred to the NEX, a separate board of the TSX Venture Exchange, effective as of opening of the market on October 23, 2012. From October 23, 2012, and onwards until the time that is on or about the date of dissolution, NiMin's Common Shares trade on the NEX under the symbol "NNN.H".
	The Company announced that the Common Shares of the Company were delisted from the OTCQX effective July 23, 2012.

Basis_of_Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2013
Basis of Presentation:	'
Basis of Presentation	'
	2.Basis of Presentation
	The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the
	United States (“U.S.GAAP”) and include the accounts of the Company, its wholly-owned subsidiary and the Company’s
	proportionate interest in Joint Interest Activities. All inter-company balances and transactions have been eliminated upon
	consolidation.
	As a result of the Shareholders’ approval of the Winding Up of the Company, the liquidation basis of accounting was adopted effective June 30, 2012. This basis of accounting is considered appropriate when, among other things, liquidation of a company is imminent and the net realizable values of assets are reasonably determinable. Under this basis of accounting, assets are valued at their net realizable values and liabilities are stated at their estimated settlement amounts.  Further, all expected costs of liquidation are accrued as of December 31, 2013.  Financial information presented as of and subsequent to June 30, 2012, includes a Consolidated Statement of Net Assets and a Consolidated Statement of Changes in Net Assets in Liquidation, as required under the liquidation basis of accounting.  Financial information included for periods ending prior to June 30, 2012, is presented under the going concern basis of accounting.
	Given that the respective property sales transactions closed on June 28, 2012, and June 29, 2012, the associated revenues are included in revenues and expenses for the period ended June 30, 2012.  However, the purchase and sale agreements provide adjustments to the purchase price be made related to revenues and operating expenses for the period of April 1, 2012 through the closing date of the sale of the properties.  As such, the purchase price of the sale of the properties in June 2012 was adjusted for revenues and operating expenses for the period of April 1 through closing date of the sale of the properties.
	These consolidated financial statements of the Company are presented in U.S dollars.
	The conversion to liquidation basis of accounting requires management to make significant estimates and judgments in order to record assets at estimated net realizable value and liabilities at estimated settlement amounts.
	A statement of operations is not presented for the year ended December 31, 2013, due to the liquidation basis of accounting.  Instead, a statement of changes in net assets has been reported.
	Accrued Cost of Liquidation
	Under the liquidation basis of accounting, the Company has accrued for the estimated costs to be incurred in liquidation, as follows:
		Accrued Liquidation Costs		Balances as of      June 30,            2012		Adjustments to accrual		Payments		Balances as of December 31, 2012
		Lease obligation	$	62,943	$	-	$	(62,943)	$	-
		Professional fees		3,964,723		908,005		(3,391,258)		1,481,470
		Payroll related costs		3,009,757		34,222		(3,043,979)		-
		Other		500,000		136,564		(183,847)		452,717
		Total	$	7,537,423	$	1,078,791	$	(6,682,027)	$	1,934,187
		Accrued Liquidation Costs		Balances as of      December 31,            2012		Adjustments to accrual		Payments		Balances as of December 31, 2013
		Professional fees	$	1,481,470	$	2,181,580	$	(1,971,110)	$	1,691,940
		Other		452,717		326,997		(594,165)		185,549
		Total	$	1,934,187	$	2,508,577	$	(2,565,275)	$	1,877,489
	The Company will continue to incur operating costs through the liquidation of the Company (the “Liquidation Period”). On a regular basis, we evaluate our assumptions, judgments and estimates that can have a significant impact on our reported net assets in liquidation based on the most recent information available to us, and when necessary make changes accordingly. Actual costs and income may differ from our estimates, which might reduce net assets available in liquidation to be distributed to Shareholders.
	The Winding Up continues to be assessed and the exact amount and timing of further distribution(s) to Shareholders can only be determined upon completion of the orderly disposition of assets and orderly discharge of all liabilities.  Once management of the Company has completed those required steps, current estimates will be revised to reflect actual numbers.  The numbers reflected in the statement of net assets and the estimated $0.07 net assets in liquidation per outstanding share include management estimates made as of December 31, 2013, and do not necessarily reflect the final dollars that may be available to the Company for distribution to Shareholders.  Any distribution amounts can only be calculated upon completion of all the dispositions, discharges and determinations of reserves.

PreLiquidation_Accounting_Poli

Pre-Liquidation Accounting Policies	12 Months Ended
	Dec. 31, 2013
Pre-Liquidation Accounting Policies	'
Pre-Liquidation Accounting Policies	'
	3.Pre-Liquidation Accounting Policies
	a.       Crude Oil  and Natural Gas Properties and Equipment
	The Company accounts for its crude oil and natural gas producing activities under the full-cost method of accounting.  Accordingly, all costs incurred in the acquisition, exploration, and development of proved crude oil and natural gas properties, including the costs of abandoned properties, dry holes, geological and geophysical costs, and annual lease rentals, were capitalized.  All general corporate costs were expensed as incurred.  Sales or other dispositions of crude oil and natural gas properties were accounted for as adjustments to capitalized costs with no gain or loss recorded unless such sale would significantly alter the relationship between pool cost and reserves.
	b.       Depletion and Depreciation
	Depletion of crude oil and natural gas properties was computed under the unit-of-production method whereby the ratio of production to proved reserves, after royalties, determined the proportion of depletable costs to be expensed in each period.  Costs associated with unevaluated properties were excluded from the full-cost pool until a determination was made whether proved reserves can be attributable to the related properties.  Unevaluated properties were evaluated at least annually to determine whether the costs incurred should have been classified to the full-cost pool and thereby subject to amortization.  Reserves were determined by an independent reserves engineering firm.  Volumes were converted to equivalent units using the ratio of one barrel of oil to six thousand cubic feet of natural gas.  A significant reduction in our proved reserves may result in an accelerated depletion rate.
	Depreciation of equipment was provided for on a straight-line basis over the useful life (5 to 10 years) of the asset.
	c.        Impairment of Long-lived Assets
	The Company performed a full-cost ceiling test on proved crude oil and natural gas properties in which the capitalized costs were not allowed to exceed their related estimated future net revenues of proved reserves discounted at 10%, net of tax considerations.  When calculating reserves, the Company conformed to SEC rules under “Modernization of Oil and Gas Reporting” for pricing and used constant prices which were adopted by the SEC in December of 2008.
	Equipment was reviewed for impairment whenever events or changes in circumstances indicate such impairment may have occurred.  Impairment was recognized when the estimated undiscounted future net cash flows of an asset were less than its carrying value.  A significant reduction in our proved reserves have resulted in a full cost ceiling limitation.  If an impairment occurred, the carrying value of the impaired asset was reduced to fair value.
	d.       Revenue Recognition
	Petroleum and natural gas sales were recognized as revenue when the commodities were delivered and title has passed to the purchasers and collection was reasonably assured.
	e.        Joint Interest Activities
	Certain of the Company’s exploration, development and production activities were conducted jointly with other entities and accordingly the consolidated financial statements reflect only the Company’s proportionate interest in such activities.
	f.        Asset Retirement Obligations
	The Company recognized a liability for the present value of all legal obligations associated with the retirement of tangible, long-lived assets and capitalized an equal amount as a cost of the asset.  The cost associated with the abandonment obligation was included in the computation of depreciation, depletion, amortization and accretion.  The liability accreted until the Company settles the obligation.  The Company uses a credit-adjusted risk-free interest rate in its calculation of asset retirement obligations (“ARO”).
	Revisions to the original estimated liability would have resulted in an increase or decrease to the ARO liability and related capitalized costs.  Actual costs incurred upon settlement of the asset retirement obligation were charged against the obligation to the extent of the liability recorded.
	Estimates for future abandonment and reclamation costs were based on historical costs to abandon and reclaim similar sites, taking currents costs into consideration.  The liability was based on the Company’s net interest in the respective sites.
	g.       Crude Oil Inventory
	Unsold crude oil production was carried in inventory at the lower of cost, generally applied on a first-in, first-out (“FIFO”) basis, or net realizable value, and included costs incurred to bring the inventory to its existing condition.
	h.       Use of Estimates
	In preparing financial statements, management makes informed judgments and estimates that affect the reported amounts of assets and liabilities as of the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting period.
	The amounts recorded for the depletion and depreciation of property and equipment, the accretion expense associated with the asset retirement obligation and the cost recovery assessments for property and equipment were based on estimates of proved reserves, production and discount rates,  oil and natural gas prices, future costs and other relevant assumptions.  The amount recorded for the unrealized gain or loss on financial instruments was based on estimates of future commodity prices and volatility.  The recognition of amounts in relation to stock-based compensation and the fair value of warrants required estimates related to valuation of stock options and warrants.  Future taxes required estimates as to the realization of future tax assets and the timing of reversal of tax assets and liabilities.  By their nature, those estimates were subject to measurement uncertainty and the effect on the consolidated financial statements from changes in such estimates in future years could have been significant.
	On an ongoing basis, management reviewed estimates, including those related to the impairment of long-lived assets, contingencies and income taxes.  Changes in facts and circumstances may have resulted in revised estimates and actual results may have differed from those estimates.
	i.         Income Taxes
	j.         Deferred tax assets and liabilities were recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.  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 enacted tax rates is recognized in income in the period that includes the enactment date.  The Company does not have any unrecognized tax benefits.  The Company does not believe there will be any material changes in its unrecognized tax positions over the next twelve months.  The Company’s policy is that it recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense.  The Company did not have any accrued interest or penalties associated with any unrecognized tax benefits, nor was any tax-related interest expense recognized during 2013, 2012 or 2011. Cash and Cash Equivalents
	The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents and therefore classifies them with cash.
	k.       Commodity Derivative Instruments
	Derivative instruments were recognized as either assets or liabilities in the balance sheet at fair value.  The a ccounting for changes in the fair value of derivative instruments depends on their intended use and resulting hedge d esignation.  For derivative instruments designated as hedges, the changes in fair value were recorded in the balance sheet as a component of accumulated other comprehensive income (loss).  Changes in the fair value of derivative instruments not designated as hedges were recorded as a gain or loss on derivative contracts in the consolidated statements of operations.  The Company did not designate its derivative financial instruments as hedging instruments and, as a result, recognized the change in a derivative’s fair value currently in earnings.
	l.         Fair Value Measurements
	The Company categorizes its assets and liabilities that were measured at fair value, based on the priority of the inputs to the valuation techniques. The three levels of the fair value measurement hierarchy were as follows:
	Level 1:	Unadjusted quoted prices in active markets that were accessible at the measurement date for identical, unrestricted assets or liabilities.
	Level 2:	Quoted prices in markets that were not active, or inputs which were observable, either directly or indirectly, for substantially the full term of the asset or liability.
	Level 3:	Measured based on prices or valuation models that required inputs that were both significant to the fair value measurement and less observable for objective sources (i.e., supported by little or no market activity).
	Financial assets and liabilities were classified based on the lowest level of input that was significant to the fair value measurement.  The Company’s assessment of the significance of a particular input to the fair value measurement required judgment, which may have affected the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels.  The Company considered active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. For assets and liabilities carried at fair value the Company measured fair value under the following levels:
	m.     Stock-Based Compensation
	The Company measures and recognizes compensation expense for all share-based payment awards, including employee stock options, based on estimated fair values.  The value of the portion of the award that was ultimately expected to vest was recognized as an expense on a straight-line basis over the requisite vesting period.  The Company estimates the fair value of stock option awards on the date of grant using an option-pricing model.  The Company uses the Black-Scholes Merton option-pricing model (“Black-Scholes Model”) as its method of valuation for share-based awards.  The Company’s determination of fair value of share-based payment awards on the date of grant using the Black-Scholes Model was affected by the Company’s stock price, as well as assumptions regarding a number of subjective variables.  These variables included, but are not limited to, the Company’s expected stock price volatility over the term of the awards, as well as actual and projected exercise and forfeiture activity.  The fair value
	of options granted to consultants, to the extent unvested due to required services not having been fully performed, was determined on subsequent reporting dates.
	n.       Foreign Currency Transactions
	These consolidated financial statements are presented and measured in U.S. dollars, as substantially all of the Company’s operations are located in the United States of America.  Transactions and balances using Canadian dollars are expressed in U.S. dollars whereby monetary assets and liabilities are expressed at the period end exchange rate, non-monetary assets and liabilities are expressed at historical exchange rates, and revenue and expenses are expressed at the average exchange rate for the period.  Foreign exchange gains and losses are included in the consolidated statements of operations.
	o.       Per Share Amounts
	Basic per share amounts were computed using the weighted average number of Common Shares outstanding during the year.  Diluted per share amounts reflected the potential dilution that could have occurred if stock options or warrants to purchase Common Shares were exercised for Common Shares.  The treasury stock method of calculating diluted per share amounts was used whereby any proceeds from the exercise of stock options or warrants were assumed to be used to purchase Common Shares of the Company at the average market price during the year.

Asset_Retirement_Obligations

Asset Retirement Obligations	12 Months Ended
	Dec. 31, 2013
Asset Retirement Obligations	'
Asset Retirement Obligations	'
	4.Asset Retirement Obligations.
	The Company’s asset retirement obligations are based on net ownership in wells and facilities and management’s estimate of the timing and expected future costs associated with site reclamation, facilities dismantlement and the plugging and abandonment of wells.
	The following table provides a reconciliation of the beginning and ending aggregate carrying amount of the obligation associated with the retirement of property and equipment:
			Year endedDecember 31,2013		Year endedDecember 31,2012		Year endedDecember 31,2011
	Balance, beginning of year	$	203,861	$	1,180,661	$	1,309,789
	Liabilites incurred						313,684
	Change in estimate		339,341		163,850		(422,813)
	Reduction to liabilities		(543,202)		(1,180,336)		(105,737)
	Accretion expense		-		39,686		85,738
	Balance, end of year	$	-	$	203,861	$	1,180,661
	(i)                   The Company adjusted the remaining life of its California oil and gas properties in calculating its asset retirement obligation from approximately 9 years to 25 years to better reflect estimated useful lives of the properties.
	There is no remaining balance sheet liability at December 31, 2013, related to the completion of well site restoration in Louisiana.  The Company received confirmation that the former well site has been released for unrestricted use from the state of Louisiana on August 30, 2013.

Senior_Loan

Senior Loan	12 Months Ended
	Dec. 31, 2013
Senior Loan	'
Senior Loan	'
	5.Senior Loan
	On June 30, 2010, the Company entered into a senior secured loan (the “Senior Loan”) in the amount of $36 million from a U.S. based institutional private lender (the “Lender”).  The Company borrowed $36 million subject to an original issuer discount of 7.5%, a commitment fee of 1%, a placement fee of 1% and a transaction fee of 3%.  Debt issuance costs of $4.9
	million were incurred and were being amortized to net income under the effective interest method. The Senior Loan had a 12.5% fixed interest rate and a term of five years.  Interest was payable quarterly beginning September 30, 2010.
	As part of the Winding Up of the Company, on June 28, 2012, the Company prepaid the entire amount of the Senior Loan and as a result, a prepayment penalty of 2% representing $707,705 was applied in addition to the accrued interest of $1,118,853 and principal of $36,000,000.  The remaining unamortized debt issuance cost of $3.23 million as of June 28, 2012, related to the Senior Loan, was written off and is included in the period ended June 30, 2012 interest expense.

Share_Capital

Share Capital	12 Months Ended
	Dec. 31, 2013
Share Capital	'
Share Capital	'
	6      Share Capital
	a.       Authorized and Outstanding
	Common Shares
	NiMin was authorized to issue an unlimited number of Common Shares.  As of December 31, 2013, and December 31, 2012, 69,834,396 Common Shares were issued and outstanding.
	Preferred Shares
	NiMin was also authorized to issue an unlimited number of Preferred Shares issuable in series.  As of December 31, 2013, and December 31, 2012, no Preferred Shares have been issued.
	b.       Issued
	In September 2011, the Company completed a brokered private placement (the “Private Placement”) of 2,758,620 units (“U.S. Units”) of the Company at a purchase price of CDN$1.45 per U.S. Unit for gross proceeds of CDN$3,999,999 or USD $4,010,545, net of CDN $267,224 or USD $267,928 of agents fees. Each U.S. Unit consisted of one Common Share and one-half of one Common Share purchase warrant (“U.S. Warrant”).
	c.        Stock Option Plan
	The Company established a stock option plan as approved by the Shareholders whereby options to purchase Common Shares may be granted to the Company’s directors, officers, employees and consultants.  The exercise prices of stock options are denominated in Canadian dollars.  The number of Common Shares issuable under the Company’s stock option plan cannot exceed 15% of the issued and outstanding Common Shares of the Company.  The exercise price of each option equals the market price of the Company’s stock on the date of grant and the option has a maximum life of ten years.  The vesting period is determined by the Board of Directors at the time of grant.  Options issued by the Company generally vest one-third on the first, second, and third anniversary of the date of grant.  Following the approval of the Winding Up of the Company, all outstanding unvested options became automatically vested and the Company recognized the remaining grant date fair value of approximately $1.7 million in the period ended June 30, 2012.
	Pursuant to Section 3.5 of the Company’s stock option plan, the Company completed the sale of all or substantially      all of the Company’s assets and, as such, terminated all unexercised options under the plan in July of 2012.
	The following table sets forth a reconciliation of the stock option activity for the period ended December 31, 2013, and December 31, 2012:
	(i)                   The 2.70 million stock options relating to former employees were modified upon transition to a consulting role in 2011and first quarter of 2012 to allow for continued vesting. The resulting $310,309
	and $104,483 was recognized as incremental stock-based compensation expense during the year ended December 31, 2011 and the six months ended June 30, 2012, respectively. As the related options are denominated in Canadian dollars, which is not the functional currency of the Company (which is the
	U.S. dollar), the vested options were classified as a liability on the balance sheet and recorded at their fair value at the end of each period and the change in fair value is recognized in earnings.
	Total compensation expense was amortized over the vesting period of the options.  Compensation expense of $2.29 million has been recognized during the six months ended June 30, 2012.
	At December 31, 2013, there were no outstanding stock options to purchase Common Shares.
	All options granted had an estimated fair value determined using the Black-Scholes Model using the following weighted average assumptions (no options granted during 2013):
	Risk-free interest rate was the Government of Canada marketable bond rate for the day of the grant having a term approximating the expected life of the option.
	Expected lives of options was based on the simple average of the average vesting period and the life of the award, or the simplified method, because of the limited historical data. All groups of employees have been determined to have similar historical exercise patterns for valuation purposes. Options granted have a maximum term of five to ten years.
	Annualized volatility was a measure of the amount by which the share price fluctuated or was expected to fluctuate. The Company used the average daily price volatility of comparable small cap crude oil and natural gas companies for the retrospective periods corresponding to the respective expected life.
	Total compensation expense was amortized over the vesting period of the options.  For the six months ended June 30, 2012, we recorded compensation expense in the amount of $2.29 million. Compensation expense of $2.61 million has been recognized during the year ended December 31, 2011, based on the estimated fair value of the options on the grant date in accordance with the fair value method of accounting for stock-based compensation.
	As of December 31, 2013, there was no unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Company’s option plan.
	When stock options were exercised, the Company issues Common Shares from the pool of authorized shares.
	d.       Warrants
	Each warrant was exercisable by the holder thereof to acquire one Common Share at any time before the expiration date, after which time the warrants expire and become null and void.
	Each whole warrant issued in connection with the private placement was exercisable for a period of 36 months from September 1, 2011, at an exercise price of $1.60. The warrants were subject to a hold period of four months plus one day from the date of issue.
	As a result of the approval of the Winding Up of the Company in June 2012, an aggregate of 2,188,970 unexercised warrants were terminated July 2012.
	The following table sets forth a reconciliation of the warrant activity for the periods ended December 31, 2013, and December 31, 2012:
	(i)         The weighted average exercise price of the warrants is $1.60 and is herein expressed in Canadian dollar equivalent using the closing foreign exchange rate at December 31, 2011.
	During third quarter of 2012, pursuant to the Winding Up of the Company, the Company values the warrants based on the expected cash distribution to shareholders as this represents management’s best estimate on the valuation of the underlying equity instruments as of June 30, 2012, and going forward.  As the warrants have an exercise price greater than the expected cash distribution to shareholders, the value of the warrants were determined to approximate zero.
	The following table summarizes NiMin’s warrants exercisable at December 31, 2013:
	During second, third and fourth quarters of 2012, pursuant to the Winding Up of the Company, the Company valued the warrants based on the expected cash distribution to Shareholders as this represents management’s best estimate on the valuation of the underlying equity instruments as of December 31, 2012. As the warrants have an exercise price greater than the expected cash distribution to Shareholders, the value of the warrants were determined to approximate zero.  The fair value of warrants outstanding in previous years was calculated using the Black-Scholes Model using the following weighted average assumptions:
	At December 31, 2011, the fair value of the warrant liability was $235,134, with a gain of $1.06 million recognized in current period earnings during the year ended December 31, 2011.
	Risk-free interest rate was the U.S. Treasury rate for the day of the grant having a term approximating the expected life of the warrant.
	Expected life of warrants was the period of time over which the warrants were expected to remain outstanding and was based on the contractual terms. Warrants had a maximum term of two to ten years.
	Annualized volatility was a measure of the amount by which the share price fluctuated or was expected to fluctuate. The Company used the average daily price volatility of comparable small cap crude oil and natural gas companies for the retrospective periods corresponding to the respective expected life.
	e.        Per Share Amounts
	Basic earnings (loss) per share are computed by dividing net loss available to common Shareholders by the weighted average number of Common Shares outstanding.  Diluted earnings (loss) per Common Share are calculated using the
	treasury stock method to determine the dilutive effect of the stock options.  The treasury stock method assumes that the proceeds received from the exercise of “in the money” stock options and warrants are used to repurchase Common Shares at the average market price during the period.  The weighted average number of shares assumed to be outstanding was as follows:
	(i)                   For the six months ended June 30, 2012, 10.8 million stock options and warrants were excluded from the diluted loss per share calculation. For the year ended December 31, 2011, 7,422,558 stock options and warrants were excluded from the diluted loss per share calculation. Potential Common Shares from the exercise of stock options and warrants were excluded from the diluted loss per share calculation because their effect was anti-dilutive as a result of the options and warrants being out of the money for the six months ended June 30, 2012, and the Company’s net loss for the year 2011.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2013
Income Taxes	'
Income Taxes	'
	7.Income Taxes
	The components of the net deferred income tax asset (liability) were as follows:
			December 31,2011
	Temporary differences related to:
	Crude oil and natural gas property and equipment	$	(16,181,217)
	Asset retirement obligations		130,803
	Stock based compensation		4,137,663
	Share issue costs and other		431,629
	Research and development credts		635,130
	Non-capital losses		38,200,692
	Valuation allowance		(27,354,700)
	Deferred income tax asset	$	-
	At December 31, 2013, and December 31, 2012, the deferred income tax asset is $0 due to the liquidation basis of accounting.
	The provision for income taxes reflects an effective tax rate that differs from the results that would be obtained by applying the applicable statutory income tax rate in Canada, the Company’s country of domicile, which was explained as follows:
			Six months ended June 30,           2012		31-Dec-11
	Combined Federal and Provincial/State corporate tax rate		28.00%		28.00%
	Gain/(Loss) before income taxes	$	31,336,443	$	(3,229,648)
	Expected tax		8,774,204		(904,301)
	Add (deduct) income tax effect of:
	Adjustments to prior year tax calculations		-		2,227,598
	Change in tax jurisdiction		-		(221,656)
	Difference in US & Canadian tax rates & Other		2,703,076		(316,281)
	Permanent Differences		(190,934)		932,728
	Change in fair value of warrants		-		(660,682)
	Change in research and development credits		-		-
	Change in valuation allowance		(8,808,083)		(1,057,406)
	Current income tax expense	$	2,478,263	$	-
	During the third quarter of 2012, there were tax benefits which help reduce the  tax liability.
	In October 2012, the Company paid $1.80 million, for Federal U.S. and California purposes, relating to taxable gains resulting from the sale of its oil and gas properties in the current period.  The Federal U.S. taxable income for regular income tax purposes was fully reduced by net operating loss carryforwards of $63,362,738. The Company’s deferred tax assets were previously subject to full valuation allowance.
	On May 6, 2013, the Company received a refund for U.S. income taxes of $327,174 resulting from an overpayment of income taxes in 2012.  The Company generated additional net operating losses during the year ended December 31, 2013, but deferred tax assets have been recorded at their net realizable value of $0 under the liquidation basis of accounting.

Financial_Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2013
Financial Instruments	'
Financial Instruments	'
	8.Financial Instruments
	a.       Fair Value
	The Company’s financial instruments consist of cash and cash equivalents, trade accounts receivable, restricted investments, warrants, short-term debt, and accounts payable and accrued liabilities.  For all periods presented, the fair value of the commodity derivative was obtained from the counterparty and therefore was considered level 2.  Due to the pending liquidation, the Company valued the warrants based on the expected cash distribution to Shareholders as this represents management’s best estimate on the valuation of the underlying equity instruments as of December 31, 2013. As the warrants have an exercise price greater than the expected cash distribution to Shareholders, the value of the warrants were determined to approximate zero.
	b.       Credit Risk
	Credit risk was the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company's receivables from joint venture partners and from crude oil and natural gas marketers. The majority of the Company’s receivables were within the oil and gas industry, primarily from its industry partners.  The receivables were not collateralized.  To date, the Company had experienced minimal bad debts, and had no allowance for doubtful accounts. The majority of the Company’s cash and cash equivalents were held by two financial institutions, one in the U.S. and the other in Canada.  As of December 31, 2011, the accounts receivable balances were primarily all from the sale of oil and gas and post-close adjustments from the sale of its oil and gas properties.  All receivables were current and therefore, no provision was determined to be required.
	c.        Derivatives
	Commodity price risk was the risk that the future cash flows will fluctuate as a result of changes in commodity prices.  Commodity prices for crude oil and natural gas are impacted by world economic events that dictate the levels of supply and demand.
	In January of 2010, the Company entered into a derivative financial contract for 7,500 Bbls of WTI crude oil production per month at a fixed rate of $85.10 per barrel until December 2012.
	In December 2010, the Company entered into a derivative financial contract for 125 Bbls of oil per day for 2011 and 250 Bbls of oil per day for 2012 at a fixed rate of $90.40 per barrel.
	In November 2011, the Company entered into a derivative financial contract for 100 Bbls of oil per day for 2012 at a fixed price of $96.75 per barrel.
	We do not designate our derivative financial instruments as hedging instruments for accounting purposes and, as a result, we recognize the current change in a derivative’s fair value in earnings. On December 31, 2011, we recognized $976,929 as a derivative liability on crude oil derivative contracts.
	During the second quarter of 2012, the Company terminated and settled all derivative contracts as of May 17, 2012, and at December 31, 2013, carried no liability.

Related_Party_Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2013
Related Party Transactions:	'
Related Party Transactions	'
	9.Related Party Transactions
	The Company used the services of Simon, Peragine, Smith and Redfearn LLP to assist in general legal matters related to contracts and lease agreements of its properties.  For the period ended December 31, 2013, and December 31, 2012, the Company recorded legal expenses of $85,772 and $138,836, respectively.  Mr. Redfearn is currently a member of the Company’s Board of Directors, and is a partner of the law firm
	Further to its mandate of disposing of all non-cash assets, the Company sold its ownership in the beneficial interests of the Liquidating Trust, all CMD patents and rights to existing overriding royalties on non producing properties to Pacific Oil and Gas LLC for aggregate consideration of $1,000.  Pacific Oil and Gas LLC is a private company, owned by Clancy Cottman and Bill Gumma, both board members of the Company.

Quarterly_Financial_Informatio

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2013
Quarterly Financial Information (Unaudited)	'
Quarterly Financial Information (Unaudited)	'
	10.Quarterly Financial Information (Unaudited)
	The Company’s quarterly financial information for fiscal 2013 and 2012 is as follows:
	Year Ended December 31, 2013		First     Quarter		Second     Quarter		Third     Quarter		Fourth     Quarter
	Beginning Net Assets in Liquidation	$	7,836,918	$	6,684,428	$	6,132,020	$	5,765,523
	Increase (decrease) to nets assets:
	Adjustments to assets		(28,689)		-		-		-
	Adjustments to Liquidation accruals		(1,113,261)		(531,743)		(377,790)		(825,125)
	Foreign exchange		(10,540)		(20,665)		11,293		(37,211)
	Net increase (decrease) to net assets:		(1,152,490)		(552,408)		(366,497)		(862,336)
	Ending Net Assets in Liquidation	$	6,684,428	$	6,132,020	$	5,765,523	$	4,903,187
	Year Ended December 31, 2012		Third     Quarter		Fourth     Quarter
	Beginning Net Assets in Liquidation	$	77,914,536	$	78,743,570
	Increase (decrease) to nets assets:
	Cash distribution		-		(70,532,740)
	Investment income		51,292		4,921
	Tax adjustment		1,019,447		-
	Adjustments to assets		(21,729)		(34,198)
	Adjustments to Liquidation accruals		(134,721)		(394,147)
	Costs incurred		(85,255)		-
	Foreign exchange		-		49,512
	Net increase (decrease) to net assets:		829,034		(70,906,652)
	Ending Net Assets in Liquidation	$	78,743,570	$	7,836,918
	Year Ended December 31, 2012		First Quarter		Second Quarter
	Operating revenue	$	6,148,627	$	4,836,963
	Operating income (loss)		327,441		(8,688,007)
	Other income (expense)		(1,867,893)		41,564,902
	Net income (loss)		(1,540,452)		30,398,632
	Basic net income (loss) per share		(0.02)		0.44
	Diluted net income (loss) per share	$	(0.02)	$	0.44

Accounting_Policies_Policies

Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2013
Accounting Policies (Policies):	'
Crude Oil and Natural Gas Properties and Equipment	'
	a.       Crude Oil  and Natural Gas Properties and Equipment
	The Company accounts for its crude oil and natural gas producing activities under the full-cost method of accounting.  Accordingly, all costs incurred in the acquisition, exploration, and development of proved crude oil and natural gas properties, including the costs of abandoned properties, dry holes, geological and geophysical costs, and annual lease rentals, were capitalized.  All general corporate costs were expensed as incurred.  Sales or other dispositions of crude oil and natural gas properties were accounted for as adjustments to capitalized costs with no gain or loss recorded unless such sale would significantly alter the relationship between pool cost and reserves.
Depletion and Depreciation	'
	b.       Depletion and Depreciation
	Depletion of crude oil and natural gas properties was computed under the unit-of-production method whereby the ratio of production to proved reserves, after royalties, determined the proportion of depletable costs to be expensed in each period.  Costs associated with unevaluated properties were excluded from the full-cost pool until a determination was made whether proved reserves can be attributable to the related properties.  Unevaluated properties were evaluated at least annually to determine whether the costs incurred should have been classified to the full-cost pool and thereby subject to amortization.  Reserves were determined by an independent reserves engineering firm.  Volumes were converted to equivalent units using the ratio of one barrel of oil to six thousand cubic feet of natural gas.  A significant reduction in our proved reserves may result in an accelerated depletion rate.
	Depreciation of equipment was provided for on a straight-line basis over the useful life (5 to 10 years) of the asset.
Impairment of Long-Lived Assets, Policy	'
	c.       Impairment of Long-lived Assets
	The Company performed a full-cost ceiling test on proved crude oil and natural gas properties in which the capitalized costs were not allowed to exceed their related estimated future net revenues of proved reserves discounted at 10%, net of tax considerations.  When calculating reserves, the Company conformed to SEC rules under “Modernization of Oil and Gas Reporting” for pricing and used constant prices which were adopted by the SEC in December of 2008.
	Equipment was reviewed for impairment whenever events or changes in circumstances indicate such impairment may have occurred.  Impairment was recognized when the estimated undiscounted future net cash flows of an asset were less than its carrying value.  A significant reduction in our proved reserves have resulted in a full cost ceiling limitation.  If an impairment occurred, the carrying value of the impaired asset was reduced to fair value.
Revenue Recognition, Policy	'
	d.       Revenue Recognition
	Petroleum and natural gas sales were recognized as revenue when the commodities were delivered and title has passed to the purchasers and collection was reasonably assured.
Joint Interest Activities	'
	e.       Joint Interest Activities
	Certain of the Company’s exploration, development and production activities were conducted jointly with other entities and accordingly the consolidated financial statements reflect only the Company’s proportionate interest in such activities.
Asset Retirement Obligations, Policy	'
	f.       Asset Retirement Obligations
	The Company recognized a liability for the present value of all legal obligations associated with the retirement of tangible, long-lived assets and capitalized an equal amount as a cost of the asset.  The cost associated with the abandonment obligation was included in the computation of depreciation, depletion, amortization and accretion.  The liability accreted until the Company settles the obligation.  The Company uses a credit-adjusted risk-free interest rate in its calculation of asset retirement obligations (“ARO”).
	Revisions to the original estimated liability would have resulted in an increase or decrease to the ARO liability and related capitalized costs.  Actual costs incurred upon settlement of the asset retirement obligation were charged against the obligation to the extent of the liability recorded.
	Estimates for future abandonment and reclamation costs were based on historical costs to abandon and reclaim similar sites, taking currents costs into consideration.  The liability was based on the Company’s net interest in the respective sites.
Crude Oil Inventory	'
	g.       Crude Oil Inventory
	Unsold crude oil production was carried in inventory at the lower of cost, generally applied on a first-in, first-out (“FIFO”) basis, or net realizable value, and included costs incurred to bring the inventory to its existing condition.
Use of Estimates, Policy	'
	h.       Use of Estimates
	In preparing financial statements, management makes informed judgments and estimates that affect the reported amounts of assets and liabilities as of the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting period.
	The amounts recorded for the depletion and depreciation of property and equipment, the accretion expense associated with the asset retirement obligation and the cost recovery assessments for property and equipment were based on estimates of proved reserves, production and discount rates,  oil and natural gas prices, future costs and other relevant assumptions.  The amount recorded for the unrealized gain or loss on financial instruments was based on estimates of future commodity prices and volatility.  The recognition of amounts in relation to stock-based compensation and the fair value of warrants required estimates related to valuation of stock options and warrants.  Future taxes required estimates as to the realization of future tax assets and the timing of reversal of tax assets and liabilities.  By their nature, those estimates were subject to measurement uncertainty and the effect on the consolidated financial statements from changes in such estimates in future years could have been significant.
	On an ongoing basis, management reviewed estimates, including those related to the impairment of long-lived assets, contingencies and income taxes.  Changes in facts and circumstances may have resulted in revised estimates and actual results may have differed from those estimates.
Income Tax, Policy	'
	i.       Income Taxes
	Deferred tax assets and liabilities were recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.  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 enacted tax rates is recognized in income in the period that includes the enactment date.  The Company does not have any unrecognized tax benefits.  The Company does not believe there will be any material changes in its unrecognized tax positions over the next twelve months.  The Company’s policy is that it recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense.  The Company did not have any accrued interest or penalties associated with any unrecognized tax benefits, nor was any tax-related interest expense recognized during 2013, 2012 or 2011.
Cash and Cash Equivalents, Policy	'
	j. Cash and Cash Equivalents
	The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents and therefore classifies them with cash.
Commodity Derivative Instruments	'
	k.Commodity Derivative Instruments
	Derivative instruments were recognized as either assets or liabilities in the balance sheet at fair value.  The a ccounting for changes in the fair value of derivative instruments depends on their intended use and resulting hedge d esignation.  For derivative instruments designated as hedges, the changes in fair value were recorded in the balance sheet as a component of accumulated other comprehensive income (loss).  Changes in the fair value of derivative instruments not designated as hedges were recorded as a gain or loss on derivative contracts in the consolidated statements of operations.  The Company did not designate its derivative financial instruments as hedging instruments and, as a result, recognized the change in a derivative’s fair value currently in earnings.
Fair Value Measurements, Policy	'
	l.Fair Value Measurements
	The Company categorizes its assets and liabilities that were measured at fair value, based on the priority of the inputs to the valuation techniques. The three levels of the fair value measurement hierarchy were as follows:
	Level 1:	Unadjusted quoted prices in active markets that were accessible at the measurement date for identical, unrestricted assets or liabilities.
	Level 2:	Quoted prices in markets that were not active, or inputs which were observable, either directly or indirectly, for substantially the full term of the asset or liability.
	Level 3:	Measured based on prices or valuation models that required inputs that were both significant to the fair value measurement and less observable for objective sources (i.e., supported by little or no market activity).
	Financial assets and liabilities were classified based on the lowest level of input that was significant to the fair value measurement.  The Company’s assessment of the significance of a particular input to the fair value measurement required judgment, which may have affected the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels.  The Company considered active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. For assets and liabilities carried at fair value the Company measured fair value under the following levels:
Stock-Based Compensation	'
	m.Stock-Based Compensation
	The Company measures and recognizes compensation expense for all share-based payment awards, including employee stock options, based on estimated fair values.  The value of the portion of the award that was ultimately expected to vest was recognized as an expense on a straight-line basis over the requisite vesting period.  The Company estimates the fair value of stock option awards on the date of grant using an option-pricing model.  The Company uses the Black-Scholes Merton option-pricing model (“Black-Scholes Model”) as its method of valuation for share-based awards.  The Company’s determination of fair value of share-based payment awards on the date of grant using the Black-Scholes Model was affected by the Company’s stock price, as well as assumptions regarding a number of subjective variables.  These variables included, but are not limited to, the Company’s expected stock price volatility over the term of the awards, as well as actual and projected exercise and forfeiture activity.  The fair value
	of options granted to consultants, to the extent unvested due to required services not having been fully performed, was determined on subsequent reporting dates.
Foreign Currency Transactions	'
	n.Foreign Currency Transactions
	These consolidated financial statements are presented and measured in U.S. dollars, as substantially all of the Company’s operations are located in the United States of America.  Transactions and balances using Canadian dollars are expressed in U.S. dollars whereby monetary assets and liabilities are expressed at the period end exchange rate, non-monetary assets and liabilities are expressed at historical exchange rates, and revenue and expenses are expressed at the average exchange rate for the period.  Foreign exchange gains and losses are included in the consolidated statements of operations.
Per Share Amounts	'
	o.Per Share Amounts
	Basic per share amounts were computed using the weighted average number of Common Shares outstanding during the year.  Diluted per share amounts reflected the potential dilution that could have occurred if stock options or warrants to purchase Common Shares were exercised for Common Shares.  The treasury stock method of calculating diluted per share amounts was used whereby any proceeds from the exercise of stock options or warrants were assumed to be used to purchase Common Shares of the Company at the average market price during the year.

Basis_of_Presentation_Tables

Basis of Presentation (Tables)	12 Months Ended
	Dec. 31, 2013
Basis of Presentation (Tables)	'
Accrued Cost of Liquidation	'
	Accrued Cost of Liquidation
	Under the liquidation basis of accounting, the Company has accrued for the estimated costs to be incurred in liquidation, as follows:
		Accrued Liquidation Costs		Balances as of      June 30,            2012		Adjustments to accrual		Payments		Balances as of December 31, 2012
		Lease obligation	$	62,943	$	-	$	(62,943)	$	-
		Professional fees		3,964,723		908,005		(3,391,258)		1,481,470
		Payroll related costs		3,009,757		34,222		(3,043,979)		-
		Other		500,000		136,564		(183,847)		452,717
		Total	$	7,537,423	$	1,078,791	$	(6,682,027)	$	1,934,187
		Accrued Liquidation Costs		Balances as of      December 31,            2012		Adjustments to accrual		Payments		Balances as of December 31, 2013
		Professional fees	$	1,481,470	$	2,181,580	$	(1,971,110)	$	1,691,940
		Other		452,717		326,997		(594,165)		185,549
		Total	$	1,934,187	$	2,508,577	$	(2,565,275)	$	1,877,489

Reconcilation_Asset_Retirement

Reconcilation Asset Retirement Obligations (Tables)	12 Months Ended
	Dec. 31, 2013
Reconcilation Asset Retirement Obligations	'
Reconcilation Asset Retirement Obligations	'
	The following table provides a reconciliation of the beginning and ending aggregate carrying amount of the obligation associated with the retirement of property and equipment:
			Year endedDecember 31,2013		Year endedDecember 31,2012		Year endedDecember 31,2011
	Balance, beginning of year	$	203,861	$	1,180,661	$	1,309,789
	Liabilites incurred						313,684
	Change in estimate		339,341		163,850		(422,813)
	Reduction to liabilities		(543,202)		(1,180,336)		(105,737)
	Accretion expense		-		39,686		85,738
	Balance, end of year	$	-	$	203,861	$	1,180,661

Share_Capital_As_Follows_Table

Share Capital As Follows (Tables)	12 Months Ended
	Dec. 31, 2013
Share Capital As Follows	'
Reconciliation of the stock option activity	'
	The following table sets forth a reconciliation of the stock option activity for the period ended December 31, 2013, and December 31, 2012:
		Number of shares	Weighted Average Exercise Price  (CDN$)
	Stock options outstanding at December 31, 2010	7,355,000	1.25
	Options exercised (i)	(29,999)	1.25
	Options forfeited	(105,000)	1.64
	Options issued	2,000,000	1.44
	Stock options outstanding at December 31, 2011 (i)	9,220,001	1.24
	Options exercised
	Options forfeited	(60,000)	1.61
	Options repurchased	(600,000)	1
	Options cancelled	(8,560,001)	1.29
	Stock options outstanding at December 31, 2012 (i)	-	-
	Options exercised
	Options forfeited	-	-
	Options repurchased	-	-
	Options cancelled	-	-
	Stock options outstanding at December 31, 2013	-	-
Stock Options, Valuation Assumptions	'
	All options granted had an estimated fair value determined using the Black-Scholes Model using the following weighted average assumptions (no options granted during 2013):
Share-based Compensation Activity Granted Under Option Plan	'
	As of December 31, 2013, there was no unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Company’s option plan.
		Number of Unvested Options	Weighted- Average Grant- Date Fair Value per Option (CDN$)
	Balance December 31, 2010	4,933,333	1.25
	Vested	(2,744,990)	1.22
	Granted	2,000,000	0.66
	Forfeited	(105,000)	0.95
	Balance December 31, 2011	4,083,343	0.99
	Vested	(4,023,343)	0.99
	Granted	-	-
	Forfeited	(60,000)	0.99
	Balance December 31, 2012	-
	Vested	-	-
	Granted	-	-
	Forfeited	-	-
	Balance December 31, 2013	-
Reconciliation of the warrant activity for the periods ended	'
	The following table sets forth a reconciliation of the warrant activity for the periods ended December 31, 2013, and December 31, 2012:
		Number of Warrants	Equity Component Amount	Weighted Average Exercise Price  (CDN$)
	Warrants outstanding at December 31, 2010	12,349,341	-	1.58
	Warrants exercised	(5,354,800)	-	1.55
	Warrants expired	(6,087,951)	-	1.55
	Warrants issued (i)	1,379,310	844,488	1.65
	Warrants outstanding at December 31, 2011	2,285,900	844,488	1.79
	Warrants exercised	-	-	-
	Warrants expired	-	-	-
	Warrants cancelled	(2,188,970)	(844,488)	1.79
	Warrants outstanding at December 31, 2012	96,930	-	1.72
	Warrants exercised	-	-	-
	Warrants expired	-	-	-
	Warrants cancelled	-	-	-
	Warrants outstanding at December 31, 2013	96,930	-	1.72
NiMin's warrants exercisable	'
	The following table summarizes NiMin’s warrants exercisable at December 31, 2013:
	Expiration Date	Number of Warrants	Exercise Price per share(CDN$)
	10-Mar-16	96,930	1.72
		96,930	1.72
Weighted Average Number Of Shares Assumed	'
	The weighted average number of shares assumed to be outstanding was as follows:
		Six months ended June 30,			Year ended December31,
			2012		2011
	Net income (loss)	$	28,858,180	$	(3,229,648)
	Basic and diluted shares outstanding (i)		69,834,396		67,009,441
	Income (loss) per basic and diluted share	$	0.41	$	(0.05)
Warrants outstanding, Valuation Assumptions	'
	The fair value of warrants outstanding in previous years was calculated using the Black-Scholes Model using the following weighted average assumptions:
		Weighted Average Expected Life	Weighted Average Risk FreeInterest Rate	Weighted Average Volatility	DividendYield	Fair  Value per Warrant
	2013	-	-	-	-	-
	2012	-	-	-	-	-
	2011	3.7	0.55%	87.31%	-	$          0.52

Income_tax_Tables

Income tax (Tables)	12 Months Ended
	Dec. 31, 2013
Income tax (Tables):	'
Schedule of Deferred Tax Assets and Liabilities	'
	The components of the net deferred income tax asset (liability) were as follows:
			December 31,2011
	Temporary differences related to:
	Crude oil and natural gas property and equipment	$	(16,181,217)
	Asset retirement obligations		130,803
	Stock based compensation		4,137,663
	Share issue costs and other		431,629
	Research and development credts		635,130
	Non-capital losses		38,200,692
	Valuation allowance		(27,354,700)
	Deferred income tax asset	$	-
Schedule of Components of Income Tax Expense (Benefit)	'
	The provision for income taxes reflects an effective tax rate that differs from the results that would be obtained by applying the applicable statutory income tax rate in Canada, the Company’s country of domicile, which was explained as follows:
			Six months ended June 30,           2012		31-Dec-11
	Combined Federal and Provincial/State corporate tax rate		28.00%		28.00%
	Gain/(Loss) before income taxes	$	31,336,443	$	(3,229,648)
	Expected tax		8,774,204		(904,301)
	Add (deduct) income tax effect of:
	Adjustments to prior year tax calculations		-		2,227,598
	Change in tax jurisdiction		-		(221,656)
	Difference in US & Canadian tax rates & Other		2,703,076		(316,281)
	Permanent Differences		(190,934)		932,728
	Change in fair value of warrants		-		(660,682)
	Change in research and development credits		-		-
	Change in valuation allowance		(8,808,083)		(1,057,406)
	Current income tax expense	$	2,478,263	$	-

Description_of_the_Business_Sa

Description of the Business Sale of Assets (Details) (USD $)	Oct. 22, 2012	Aug. 30, 2012	Jun. 29, 2012	Jun. 28, 2012
Description of the Business Sale of Assets:	'	'	'	'
Sale of Assets,	'	'	$26,000,000	$93,000,000
Original purchase price of Assets,	'	'	27,000,000	98,000,000
Preliminary purchase price adjustments	'	'	1,000,000	5,000,000
Final purchase price adjustments amount with BreitBurn	'	2,300,000	'	'
Final purchase price adjustments amount with Southern San Joaquin Production LLC	'	347,938	'	'
Distribution was paid on	'	0	1,000,000	'
On September 24, 2012, the Board declared an initial distribution to Shareholders of $1.01 per Common Share which was paid	$70,532,740	'	'	'

Basis_of_Presentation_Adjust_a

Basis of Presentation Adjust assets to net realizable value (Details) (USD $)	Dec. 31, 2012
Adjust assets to net realizable value:	'
Write down of fixed assets	($82,731)
Write off of other assets	-152,070
Total	-234,801
Recovery of other assets	-55,927
Total	($290,728)

Basis_of_Presentation_Accrued_

Basis of Presentation Accrued Liquidation Costs (Details) (USD $)	Lease obligation	Professional fees	Payroll related costs	Other.	Total.
Balances of Accrued Liquidation Costs at Jun. 30, 2012	$62,943	$3,964,723	$3,009,757	$500,000	$7,537,423
Adjustments to accrual	'	908,005	34,222	136,564	1,078,791
Payments	-62,943	-3,391,258	-3,043,979	-183,847	-6,682,027
Balances of Accrued Liquidation Costs at Dec. 31, 2012	'	1,481,470	'	452,717	1,934,187
Balances of Accrued Liquidation Costs at Dec. 31, 2012	'	'	'	'	'
Adjustments to accrual	'	2,181,580	'	326,997	2,508,577
Payments	'	-1,971,110	'	-594,165	-2,565,275
Balances of Accrued Liquidation Costs at Dec. 31, 2013	'	$1,691,940	'	$185,549	$1,877,489

Asset_Retirement_Obligations_A

Asset Retirement Obligations As Follows (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Asset Retirement Obligations As Follows:	'	'	'
Balance of Obligations, beginning	$203,861	$1,180,661	$1,309,789
Liabilities Incurred.	0	0	313,684
Change in estimate.	339,341	163,850	-422,813
Reduction to liabilities.	-543,202	-1,180,336	-105,737
Accretion expense.	0	39,686	85,738
Balance of Obligations, end of year	$0	$203,861	$1,180,661

Senior_Secured_Loan_Consists_o

Senior Secured Loan Consists of The Following (Details) (USD $)	Jun. 28, 2012	Jun. 30, 2010
Senior Secured Loan Consists of The Following:	'	'
Senior Secured Loan in millions	'	36
Discount on original issue of loans	'	7.50%
Commitment fee	'	1.00%
Placement fee	'	1.00%
Transaction fee	'	3.00%
Debt issuance costs in millions	'	$4.90
Amount of penalty on Loan for prepayment	707,705	'
Accrued Interest on Senior Loan	1,118,853	'
Principle amount of Senior Loan in millions	36	'
Unamortized debt issuance cost written off in millions	$3.23	'

Senior_Loan_Prepayment_of_Loan

Senior Loan Prepayment of Loan As Follows (Details) (USD $)	Jun. 28, 2012
Senior Loan Prepayment of Loan:	'
Amount of penalty on Loan for prepayment	$707,705
Accrued Interest on Senior Loan	1,118,853
Principle amount of Senior Loan	$36,000,000

Share_Capital_Transactions_Det

Share Capital Transactions (Details)	Dec. 31, 2013	Dec. 31, 2012
Share Capital Authorized and Outstanding:	'	'
Common stocks shares issued	69,834,396	69,834,396
Common stocks shares outstanding	69,834,396	69,834,396

Sharebased_compensation_arrang

Share-based compensation arrangements granted Under the Option Plan (Details)	Number of Unvested Options	Weighted- Average Grant- Date Fair Value per Option (CDN$)
Balance Options at Dec. 31, 2010	4,933,333	1.25
Vested	-2,744,990	1.22
Granted	2,000,000	0.66
Forfeited	-105,000	0.95
Balance Options. at Dec. 31, 2011	4,083,343	0.99
Balance Options at Dec. 31, 2011	'	'
Vested.	-4,023,343	0.99
Granted.	0	'
Forfeited.	-60,000	0.99
Balance Options, at Dec. 31, 2012	0	'
Balance Options at Dec. 31, 2012	'	'
Vested,	0	'
Granted,	0	'
Forfeited,	0	'
Balance Options' at Dec. 31, 2013	0	'

Share_Capital_Reconciliation_O

Share Capital Reconciliation Of Stock Option Activity (Details)	Number of shares,	Weighted Average Exercise Prices (CDN$).
Stock options outstanding at Dec. 31, 2010	7,355,000	1.25
Options exercised	-29,999	1.25
Options forfeited	-105,000	1.64
Options issued	2,000,000	1.44
Stock options outstanding, at Dec. 31, 2011	9,220,001	1.24
Stock options outstanding at Dec. 31, 2011	'	'
Options exercised.	0	0
Options forfeited.	-60,000	1.61
Options repurchased.	-600,000	1
Options cancelled.	-8,560,001	1.29
Stock options outstanding at Dec. 31, 2012	0	'
Options exercised,	0	'
Options forfeited,	0	'
Options repurchased,	0	'
Options cancelled,	0	'
Stock options outstanding,, at Dec. 31, 2013	0	'

Reconciliation_Of_The_Warrants

Reconciliation Of The Warrants Activity For The Period (Details)	Number of Warrants	Equity Component Amount	Weighted Average Exercise Prices (CDN$).
Warrants outstanding at Dec. 31, 2010	12,349,341	0	1.58
Warrant exercised	-5,354,800	0	1.55
Warrants expired	-6,087,951	0	1.55
Warrants cancelled	1,379,310	844,488	1.65
Warrants outstanding , at Dec. 31, 2011	2,285,900	844,488	1.79
Warrants outstanding at Dec. 31, 2011	'	'	'
Warrant exercised.	0	0	0
Warrants expired.	0	0	0
Warrants cancelled.	-2,188,970	-844,488	1.79
Warrants outstanding: at Dec. 31, 2012	96,930	0	1.72
Warrants outstanding at Dec. 31, 2012	'	'	'
Warrant exercised,	0	0	0
Warrants expired,	0	0	0
Warrants cancelled,	0	0	0
Warrants outstanding, at Dec. 31, 2013	96,930	0	1.72

NiMins_warrants_exercisable_De

NiMin's warrants exercisable (Details) (USD $)	Dec. 31, 2013
NiMin's warrants exercisable {1}	'
Exercise Price per share in (CDN$)	$1.72
warrants exercisable with Expiration Date March 10, 2016	96,930

Weighted_Average_Shares_Assume

Weighted Average Shares Assumed To Be Outstanding (Details) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2013
Weighted Average Shares Assumed To Be Outstanding:	'	'
Net income''	$28,858,180	($3,229,648)
Basic and diluted shares outstanding.	69,834,396	67,009,441
Income (loss) per basic and diluted share.	$0.41	($0.05)

Derivative_Financial_Contract_

Derivative Financial Contract (Details) (USD $)	12 Months Ended
	Dec. 31, 2013
Derivative Financial Contract:	'
Derivative Financial Contract for 7,500 bbls	$85.10
Derivative Financial Contract for 125 bbls of oil per day	$90.40
Derivative Financial Contract for 250 bbls of oil per day	$90.40
Derivative Financial Contract for 100 bbls of oil per day	$96.75
Change in derivative contracts included in derivative liability on crude oil derivative contracts	$976,929

The_fair_value_of_warrants_out

The fair value of warrants outstanding in previous years was calculated using the Black-Scholes Model (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
The fair value of warrants outstanding in previous years was calculated using the Black-Scholes Model	'	'	'
Expected Life in years of warrants	'	'	3.7
Weighted Average Risk Free Interest Rate of warrants	'	'	0.55%
Weighted Average Volatality of warrants	'	'	87.31
Dividend Yield of warrants	0.00%	0.00%	0.00%
Fair Value per warrant	'	'	$0.52

Warrants_and_option_expenses_D

Warrants and option expenses (Details) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Warrants and option expenses	'	'
Fair value of Derivative liability	'	$235,134
Gain on the above recognized in the period in millions	'	1.06
Compensation expense recognized of the options in millions	2.29	2.61
Amounts recognized as incremental stock-based compensation expense	$104,483	$310,309

BlackScholes_Model_using_the_f

Black-Scholes Model using the following weighted average assumptions (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Black-Scholes Model using the following weighted average assumptions	'	'	'
Expected Life in years	'	'	3
Weighted Average Risk Free Interest Rate	'	'	1.38%
Weighted Average Volatality	'	'	87.26%
Dividend Yield %	0.00%	0.00%	0.00%
Fair Value per option	'	'	$0.66

Refund_of_income_taxes_Details

Refund of income taxes (Details) (USD $)	6-May-13
Refund of income taxes	'
Refund of income taxes resulting from an overpayment of income taxes in 2012	$327,174
Deferred tax assets have been recorded at their net realizable value	$0

The_components_of_the_net_defe

The components of the net deferred income tax asset (liability) were as follows: (Details) (USD $)	Dec. 31, 2011
Temporary differences related to	'
Crude oil and natural gas property and equipment;	($16,181,217)
Asset Retirement obligations;	130,803
stock based compensation;	4,137,663
Share issue costs and other;	431,629
Research and development credits;	635,130
Non capital losses;	38,200,692
Valuation allowance.	-27,354,700
Deferred income tax asset.	0
Net operating loss carryforwards of	$63,362,738

Provision_for_Income_Taxes_Det

Provision for Income Taxes (Details) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Provision for Income Taxes	'	'
Combined Federal and Provincial/State corporate tax rate	28.00%	28.00%
Gain (Loss) before income taxes	$31,336,443	($3,229,648)
Expected tax	8,774,204	-904,301
Adjustments to prior year tax calculations	0	2,227,598
Change in tax jurisdiction	0	-221,656
Difference in US &Canadian tax rates & other	2,703,076	-316,281
Permanent Differences	-190,934	932,728
Change in fair value of warrants.	0	660,682
Change in research and development credits.	0	0
change in valuation allowance	-8,808,083	-1,057,406
Current income tax expense	$2,478,263	$0

Related_Party_Transaction_Deta

Related Party Transaction (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction:	'	'
Recorded legal expense	$85,772	$138,836
Company sold its ownership in the beneficial interests of the Liquidating Trust, all CMD patents and rights to existing overriding royalties on non producing properties to Pacific Oil and Gas LLC for aggregate consideration	$1,000	'