Eos Petro (EOPT) 10-K 17 Apr 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Apr. 17, 2017	Jun. 30, 2016
Document and Entity Information:
Entity Registrant Name	Eos Petro, Inc.
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Entity Central Index Key	1,419,583
Current Fiscal Year End Date	--12-31
Entity Public Float			$ 23,518,782
Entity Common Stock, Shares Outstanding		52,089,528
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	eopt

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Current assets
Cash	$ 24,762	$ 1,367
Other current assets	0	12,878
Total current assets	24,762	14,245
Oil and gas properties, using the full cost method of accounting, net of accumulated depletion and impairment of $1,249,608 and $187,197, respectively	0	1,062,411
Other property plant and equipment, net of accumulated depreciation of $30,000 and $27,232, respectively	0	2,768
Long-term deposits	54,128	102,441
Total assets	78,890	1,181,865
Current liabilities
Accounts payable	1,501,514	1,084,621
Accrued expenses	1,221,456	1,189,545
Accrued officers' compensation	467,501	180,000
Accrued termination fee	5,500,000	5,500,000
Accrued structuring fee	4,000,000	4,000,000
LowCal convertible and promissory notes payable, in default	8,250,000	8,250,000
Notes payable, net of discount of $45,916 and $0	2,022,084	1,383,000
Notes payable, related party	0	1,208,160
Derivative liabilities	469,267	6,381,553
Total current liabilities	23,431,822	29,176,879
Asset retirement obligation	101,764	92,512
Total liabilities	23,533,586	29,269,391
Stockholders' deficit
Series B Preferred stock: $0.0001 par value; 44,000,000 shares authorized, none issued and outstanding	0	0
Common stock; $0.0001 par value; 300,000,000 shares authorized, 52,461,528 and 47,827,882 shares issued and outstanding	5,246	4,783
Additional paid-in capital	141,543,351	116,889,526
Accumulated deficit	(165,003,293)	(144,981,835)
Total stockholders' deficit	(23,454,696)	(28,087,526)
Total liabilities and stockholders' deficit	$ 78,890	$ 1,181,865

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Oil and gas properties, accumulated depletion	$ 1,249,608	$ 187,197
Other property plant and equipment, accumulated depreciation	30,000	27,232
Note Payable, discount	$ 45,916	$ 0
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Shares Issued	52,461,528	47,827,882
Common Stock, Shares Outstanding	52,461,528	47,827,882
Series B Preferred Stock
Preferred Stock, Par Value	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	44,000,000	44,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Revenues
Oil and gas sales	$ 36,519	$ 208,052
Costs and expenses
Lease operating expense	55,954	148,093
General and administrative	19,124,279	27,463,607
Impairment charge of oil and gas properties	1,051,702	0
Forfeiture of acquisition deposits	155,000	0
Structuring fee	0	4,000,000
Termination fee	0	5,500,000
Total costs and expenses	20,386,935	37,111,700
Loss from operations	(20,350,416)	(36,903,648)
Other income (expense)
Interest and finance costs (including $62,420 and $47,675 in interest on notes payable to related party)	(4,665,159)	(3,207,375)
Change in fair value of derivative liabilities	4,994,117	4,657,999
Total other income (expense)	328,958	1,450,624
Net loss	$ (20,021,458)	$ (35,453,024)
Net loss per share attributed to common stockholders - basic and diluted	$ (0.4)	$ (0.74)
Weighted average common shares outstanding basic and diluted	50,251,151	47,777,098

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Interest on notes payable to related party	$ 62,420	$ 47,675

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Deficit - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Stockholders' Equity, beginning of period, Value at Dec. 31, 2014	$ 4,774	$ 88,989,581	$ (109,528,811)	$ (20,534,456)
Stockholders' Equity, beginning of period, Shares at Dec. 31, 2014	47,738,882
Issuance of common stock for consulting services, Value	$ 1	62,658	0	62,659
Issuance of common stock for consulting services, Shares	14,000
Issuance of common stock for debt extension, Value	$ 8	311,242	0	311,250
Issuance of common stock for debt extension, Shares	75,000
Fair value of warrants issued for debt extension	$ 0	2,212,149	0	2,212,149
Fair value of warrants issued for consulting services	0	8,157,284	0	8,157,284
Fair value of vested options	0	4,673,412	0	4,673,412
Sale of common shares owned by majority stockholder to affiliates at discount	0	12,483,200	0	12,483,200
Net loss	0	0	(35,453,024)	(35,453,024)
Stockholders' Equity, end of period, Value at Dec. 31, 2015	$ 4,783	116,889,526	(144,981,835)	(28,087,526)
Stockholders' Equity, end of period, Shares at Dec. 31, 2015	47,827,882
Issuance of common stock for debt extension, Value	$ 32	1,249,968	0	1,250,000
Issuance of common stock for debt extension, Shares	315,000
Issuance of common stock in connection with amendment of note agreement, Value	$ 7	299,993	0	300,000
Issuance of common stock in connection with amendment of note agreement, Shares	75,000
Issuance of common stock for services, Value	$ 40	464,960	0	465,000
Issuance of common stock for services, shres	400,000
Issuance of common stock in connection with notes payable, Value	$ 122	1,329,878	0	1,330,000
Issuance of common stock in connection with notes payable, Shares	1,225,000
Issuance of common stock in connection debt conversions,Value	$ 252	2,518,394	0	2,518,646
Issuance of common stock in connection debt conversions, Shares	2,518,646
Issuance of common stock for cash, Value	$ 10	99,990	0	100,000
Issuance of common stock for cash, Shares	100,000
Transfer of common shares owned by majority stockholder in connection with notes payable	$ 0	290,000	0	290,000
Extension of warrant expiration date in connection with amendment of note agreement	0	188,378	0	188,378
Fair value of warrants issued for consulting services	0	1,164,738	0	1,164,738
Fair value of vested options	0	14,446,834	0	14,446,834
Fair value related to change in stock option terms	0	93,714	0	93,714
Value of warrants issued with note payable	0	186,290	0	186,290
Sale of common shares owned by majority stockholder to affiliates at discount	0	931,060	0	931,060
Reclassification of derviative liability to equity	0	1,389,628	0	1,389,628
Net loss	0	0	(20,021,458)	(20,021,458)
Stockholders' Equity, end of period, Value at Dec. 31, 2016	$ 5,246	$ 141,543,351	$ (165,003,293)	$ (23,454,696)
Stockholders' Equity, end of period, Shares at Dec. 31, 2016	52,461,528

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities
Net loss	$ (20,021,458)	$ (35,453,024)
Adjustments to reconcile net loss to net cash used in operating activities:
Depletion	10,709	58,764
Depreciation	2,768	8,489
Accretion of asset retirement obligation	9,252	8,410
Amortization of debt discounts	497,387	0
Financing costs related to stock and warrants issued with notes payable	1,744,446	0
Notes payable issued for services	0	30,000
Fair value of stock issued for services	465,000	62,659
Fair value of stock issued for debt extension	1,250,000	311,250
Fair value of stock issued for amendment of note agreement	300,000	0
Fair value of warrants issued for consulting services	1,164,738	8,157,284
Fair value of warrants issued for amendment of note agreement	188,378	2,212,149
Fair value of vested options	14,446,834	4,673,412
Fair value related to change in stock option terms	93,714	0
Sale of common shares owned by majority stockholder to affiliates at discount	931,060	12,483,200
Impairment charge of oil and gas properties	1,051,702	0
Forfeiture of acquisition deposits	155,000	0
Termination fee	0	5,500,000
Structuring fee	0	4,000,000
Change in fair value of derivative liabilities	(4,994,117)	(4,657,999)
Change in operating assets and liabilities:
Other current assets	12,878	30,081
Long-term deposit	48,313	0
Accounts payable	755,083	935,733
Accrued expenses	782,671	39,589
Accrued compensation - officer	287,501	180,000
Net cash used in operating activities	(818,141)	(1,420,003)
Cash flows from investing activities:
Acquisition deposit	(130,000)	0
Net cash used in investing activities	(130,000)	0
Cash flows from financing activities:
Proceeds from issuance of notes payable	986,810	330,000
Proceeds from the sale of common stock	100,000	0
Repayment of notes payable	(195,000)	(50,000)
Proceeds from issuance of notes payable, related party	125,000	1,320,000
Repayment of notes payable, related party	(45,274)	(311,840)
Net cash provided by financing activities	971,536	1,288,160
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	23,395	(131,843)
CASH AND CASH EQUIVALENTS, beginning of period	1,367	133,210
CASH AND CASH EQUIVALENTS, end of period	24,762	1,367
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	0	0
Cash paid for income taxes	0	0
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
Proceeds from related party note paid directly to note holder	0	200,000
Notes payable issued for accounts payable	338,190	0
Note payable issued for deposit	25,000	0
Discount on notes payable	543,303	0
Common stock issued for conversion of notes payble, accrued interest and accrued directors compensation	2,518,646	0
Extinguishment of derivative liability	$ 1,389,628	$ 0

Note 1 - Organization And Summa

Note 1 - Organization And Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 1 - Organization And Summary of Significant Accounting Policies	NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Business Eos Petro, Inc. (the “Company”) is in the business of acquiring, exploring and developing oil and gas-related assets. The Company was organized under the laws of the state of Nevada in 2007. On October 12, 2012, the Company (then named "Cellteck, Inc.") and Eos Global Petro, Inc. ("Eos") merged with Eos being the surviving entity and the Company the legal acquirer. As a result of the merger, Eos became a wholly-owned subsidiary of the Company. Effective May 20, 2013, the Company changed its name to Eos Petro, Inc. The Company has two wholly-owned subsidiaries, Eos and Eos Merger Sub, Inc., a Delaware corporation ("Eos Delaware"), which was formed as an acquisition vehicle for potential transactions. Eos itself also has two subsidiaries: Plethora Energy, Inc., a Delaware corporation and a wholly-owned subsidiary of Eos ("Plethora Energy"), and EOS Atlantic Oil & Gas Ltd., a Ghanaian corporation ("EAOG"), which is also 10% owned by one of the Company's Ghanaian-based third party consultants. Plethora Energy also owns 90% of Plethora Bay Oil & Gas Ltd., a Ghanaian corporation ("PBOG"), which is also 10% owned by the same Ghanaian-based consultant. Eos, Eos Delaware, PBOG, Plethora Energy and EAOG are collectively referred to as the Company's "Subsidiaries." Going Concern The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As of December 31, 2016, the Company had a stockholders’ deficit of $23,454,696, and, for the year ended December 31, 2016, reported a net loss of $20,021,458 and had negative cash flows from operating activities of $818,141. The Company is also in default on $9,200,000 of its convertible and promissory notes. In addition, the Company may have become obligated to pay a $5.5 million termination fee under the "Dune Merger Agreement," as defined in Note 11 below (the "Parent Termination Fee," as more fully defined in the Dune Merger Agreement) (see Note 11) and $4 million that may be due under a structuring fee with GEM Global Yield Fund ("GEM"). Furthermore, $8,250,000 of LowCal Convertible and Promissory Notes became due on May 1, 2016 and are therefore now due and payable. Management estimates the Company's capital requirements for the next twelve months, including drilling and completing wells for the Company's oil and gas "Works Property" located in Illinois and possible acquisitions, will total approximately $2,500,000, excluding any amounts that may be due to Dune Energy, Inc. under the Dune Merger Agreement or a $4 million structuring fee that may be due to GEM. Errors may be made in predicting and reacting to relevant business trends and the Company will be subject to the risks, uncertainties and difficulties frequently encountered by early-stage companies. The Company may not be able to successfully address any or all of these risks and uncertainties. Failure to adequately do so could cause the Company's business, results of operations, and financial condition to suffer. As a result, management has concluded that there is substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that may result from the outcome of this uncertainty. The Company's ability to continue as a going concern is an issue due to its net losses and negative cash flows from operations, and its need for additional financing to fund future operations. The Company's ability to continue as a going concern is subject to its ability to obtain necessary funding from outside sources, including the sale of its securities or obtaining loans from investors or financial institutions. There can be no assurance that such funds, if available, can be obtained on terms reasonable to the Company. Any debt financing or other financing of securities senior to common stock that the Company is able to obtain will likely include financial and other covenants that will restrict the Company's flexibility. At a minimum, the Company expects these covenants to include restrictions on its ability to pay dividends on its common stock in the case of debt financing, or cause substantial dilution for stockholders in the case of convertible debt and equity financing. Any failure to comply with these covenants would have a material adverse effect on the Company's business, prospects, financial condition, results of operations and cash flows. Principles of Consolidation The consolidated financial statements include the accounts of our wholly owned and majority owned subsidiaries. Intercompany transactions and balances have been eliminated. Management evaluates its investments on an individual basis for purposes of determining whether or not consolidation is appropriate. Basic and Diluted Earnings (Loss) Per Share Earnings per share is calculated in accordance with the ASC 260-10, “Earnings Per Share.” December 31, 2016 2015 Options 5,750,000 1,325,000 Warrants 8,627,734 8,612,992 Convertible notes 2,000,000 2,000,000 Total 16,377,734 11,937,992 Management Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates reflected in the consolidated financial statements include, but are not limited to, amortization and depletion allowances, the recoverability of the carrying amount and estimated useful lives of long-lived assets, asset retirement obligations, the valuation of equity instruments issued in connection with financing transactions and share-based compensation, and assumptions used in valuing derivative liabilities and net operating loss carryforwards. Changes in facts and circumstances may result in revised estimates. Actual results could differ from those estimates. Full Cost Method of Accounting for Oil and Gas Properties The Company follows the full cost method of accounting for its oil and gas activities. Accordingly all costs associated with acquisition, exploration and development of oil and natural gas reserves, including leasehold acquisition costs, geological and geophysical expenditures, lease rentals on undeveloped properties and costs of drilling of productive and non-productive wells are capitalized into a full cost pool on a country-by-country basis. Capitalized costs of oil and gas properties, including the estimated future costs to develop proved reserves, are amortized on the unit-of-production method using estimates of proved reserves once proved reserves are determined to exist. Capitalized oil and gas property costs within a cost center are amortized on an equivalent unit-of-production method, The equivalent unit-of-production rate is computed on a quarterly basis by dividing production by proved oil and gas reserves at the beginning of the quarter then applying such amount to capitalized oil and gas property costs, which includes estimated asset retirement costs, less accumulated amortization, plus the estimated future expenditures (based on current costs) to be incurred in developing proved reserves, net of estimated salvage values. Average depreciation, depletion and amortization (“DD&A”) per barrel of oil equivalent was $16.48 and $13.86 for the years ended December 31, 2016 and 2015, respectively. Full Cost Ceiling Test Oil and gas properties without estimated proved reserves are not amortized until proved reserves associated with the properties can be determined or until impairment occurs. At the end of each reporting period, the unamortized costs of oil and gas properties are subject to a “ceiling test” which limits capitalized costs to the sum of the estimated future net revenues from proved reserves, discounted at 10% per annum to present value, based on current economic and operating conditions, adjusted for related income tax effects. If the net capitalized costs exceed the cost center ceiling, the excess is recognized as an impairment of oil and gas properties. An impairment recognized in one period may not be reversed in a subsequent period even if higher oil and gas prices increase the cost center ceiling applicable to the subsequent period. The estimated future net revenues used in the ceiling test are calculated using average quoted market prices for sales of oil and gas on the first calendar day of each month during the preceding 12-month period prior to the end of the current reporting period. Prices are held constant indefinitely and are not changed except where different prices are fixed and determinable from applicable contracts for the remaining term of those contracts. Prices used in the ceiling test computation do not include the impact of derivative instruments because the Company elected not to meet the criteria to qualify its derivative instruments for hedge accounting treatment. The Company assesses oil and gas properties at least annually to ascertain whether impairment has occurred. In assessing impairment, the Company considers factors such as historical experience and other data such as primary lease terms of the property, average holding periods of unproved property, and geographic and geologic data, and the availability of financing. The amount of impairment assessed is deducted from the costs to be amortized, and reported as a period expense when the impairment is recognized. Management has performed its impairment tests on its oil and gas properties as of December 31, 2016 and has concluded that a full impairment reserve should be provided on the costs capitalized for its oil and gas properties consisting solely of the Company’s Works Property oil and gas assets located in the Albion Consolidated Field, Edwards County, Illinois. Therefore, an impairment charge of $1,051,702 has been recorded for the year ended December 31, 2016, which reduced the carrying amount of oil and gas properties to zero as of December 31, 2016. The impairment was primarily related to property that the Company does not expect to develop. The Company recorded depletion expense of $10,709 and $58,764 for the years ended December 31, 2016 and 2015, respectively. Proceeds from the sale of oil and gas properties are recognized as a reduction of capitalized oil and gas property costs with no gain or loss recognized, unless the sale significantly alters the relationship between capitalized costs and proved reserves of oil and gas attributable to a cost center. Through December 31, 2016, the Company has not had any sales of oil and gas properties that significantly alter that relationship. Asset Retirement Obligation The Company accounts for its future asset retirement obligations (“ARO”) by recording the fair value of the liability during the period in which it was incurred. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. The increase in carrying value of a property associated with the capitalization of an ARO is included in proven oil and gas properties in the balance sheets. The ARO consists of costs related to the plugging of wells, removal of facilities and equipment, and site restoration on its oil and gas properties. The asset retirement liability is accreted to operating expense over the useful life of the related asset. As of December 31, 2016 and 2015, the Company had an ARO of $101,764 and $92,512, respectively. Oil and Gas Revenue Revenues are recognized when hydrocarbons have been delivered, the customer has taken title and collection is reasonably assured. Share-Based Compensation The Company periodically issues stock options and warrants to employees and non-employees in capital raising transactions, for services and for financing costs. The Company accounts for share-based payments under the guidance as set forth in the Share-Based Payment Topic of the FASB Accounting Standards Codification, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees, officers, directors, and consultants, including employee stock options, based on estimated fair values. The Company estimates the fair value of share-based payment awards to employees and directors on the date of grant using an option-pricing model, and the value of the portion of the award that is ultimately expected to vest is recognized as expense over the required service period in the Company's Statements of Operations. The Company accounts for stock option and warrant grants issued and vesting to non-employees in accordance with the authoritative guidance where the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) the date at which the necessary performance to earn the equity instruments is complete. Stock-based compensation is based on awards ultimately expected to vest and is reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, as necessary, in subsequent periods if actual forfeitures differ from those estimates . Income Taxes The Company accounts for income taxes in accordance with FASB ASC Topic 740, “Income Taxes.” Under ASC Topic 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is more than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Fair Value Measurements The Company applies the provisions of ASC 820-10, Fair Value Measurements and Disclosures. · Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. · Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. · Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. For certain financial instruments, the carrying amounts reported in the consolidated balance sheets for cash and cash equivalents and current liabilities, including notes payable and convertible notes, each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The Company uses Level 2 inputs for its valuation methodology for the warrant derivative liabilities as their fair values were determined by using a weighted average Black-Scholes-Merton pricing model based on various assumptions. The Company’s derivative liabilities are adjusted to reflect fair value at each period end, with any increase or decrease in the fair value being recorded in results of operations as adjustments to fair value of derivatives. As such, the fair value of the derivative liabilities of $469,267 and $6,381,553 at December 31, 2016 and 2015, respectively, were valued using Level 2 inputs. The Company did not identify any other non-recurring assets and liabilities that are required to be presented in the consolidated balance sheets at fair value in accordance with ASC 815. Concentrations The future results of the Company’s oil and natural gas operations will be affected by the market prices of oil and natural gas. The availability of a ready market for oil and natural gas products in the future will depend on numerous factors beyond the control of the Company, including weather, imports, marketing of competitive fuels, proximity and capacity of oil and natural gas pipelines and other transportation facilities, any oversupply or undersupply of oil, natural gas and liquid products, the regulatory environment, the economic environment, and other regional and political events, none of which can be predicted with certainty. One customer accounts for 100% of oil sales for the years ended December 31, 2016 and 2015. The Company’s oil and gas properties are located in Illinois. Derivative Financial Instruments The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The Company uses a probability weighted average Black-Scholes-Merton model to value the derivative instruments. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. Under ASU 2014-09, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The FASB has recently issued ASU 2016-08, ASU 2016-10, ASU 2016-11, ASU 2016-12, and ASU 2016-20 all of which clarify certain implementation guidance within ASU 2014-09. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted only in annual reporting periods beginning after December 15, 2016, including interim periods therein. The standard can be adopted either retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). The Company is currently in the process of analyzing the information necessary to determine the impact of adopting this new guidance on its financial position, results of operations, and cash flows. The Company will adopt the provisions of this statement in the first quarter of fiscal 2018. In February 2016, the FASB issued ASU No. 2016-02, Leases. ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest period presented in the financial statements. The Company is currently evaluating the expected impact that the standard could have on its financial statements and related disclosures. In March 2016, the FASB issued the ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments in this ASU require, among other things, that all income tax effects of awards be recognized in the income statement when the awards vest or are settled. The ASU also allows for an employer to repurchase more of an employee's shares than it can today for tax withholding purposes without triggering liability accounting and allows for a policy election to account for forfeitures as they occur. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted for any entity in any interim or annual period. The Company is currently evaluating the expected impact that the standard could have on its financial statements and related disclosures. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.

Note 2 - Acquisition Deposit

Note 2 - Acquisition Deposit	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 2 - Acquisition Deposit	Note 2 – Acquisition Deposit During the year ended December 31, 2016, the Company made a non-refundable deposit of $155,000 towards the purchase of an oil and gas company. The deposit expired on September 30, 2016. The Company has not been able to secure financing to close the acquisition, and therefore has written off the non-refundable deposit which is reported as forfeited deposits in the accompanying consolidated statement of operations.

Note 3 - LowCal Convertible and

Note 3 - LowCal Convertible and Promissory Notes Payable	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 3 - LowCal Convertible and Promissory Notes Payable	NOTE 3 – LOWCAL CONVERTIBLE AND PROMISSORY NOTES PAYABLE – IN DEFAULT LowCal convertible and promissory notes payable at December 31, 2016 and 2015 are as follows: December 31, 2016 2015 LowCal Convertible Note $ 5,000,000 $ 5,000,000 LowCal Promissory Note 3,250,000 3,250,000 Total $ 8,250,000 $ 8,250,000 On February 8, 2013, and as subsequently amended through August 14, 2015, the Company and Eos entered into: (i) a Loan Agreement and Secured Promissory Note; (ii) a Lock-Up/Leak-Out Agreement; (iii) a Guaranty; (iv) a Series B Convertible Preferred Stock Purchase Agreement; and (v) a Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing (collectively referred to as the "Loan Agreements"), with LowCal Industries, LLC and LowCal [EOS/Petro], LLC (collectively referred to as " LowCal "). The LowCal Loan is secured by: (i) a mortgage, lien on, assignment of and security interest in and to oil and gas properties; (ii) a guaranty by the Company as a primary obligor for payment of Eos' obligations when due; and (iii) a first priority position or call right for an amount equal to the then outstanding principal balance of and accrued interest on the LowCal Loan on the first draw down by either Eos or the Company from a commitment letter entered into with a prospective investor, should the Company or Eos be in a position to draw on this facility. As amended, the maturity dates of both the LowCal Loan and the Second LowCal Note are May 1, 2016. The LowCal Loan and the Second LowCal Note are currently in default. The Second LowCal Note must also be repaid upon the earlier to occur of: (i) the Company closing certain potential acquisition transactions, or (ii) the Company closing a financing for a minimum of $20,000,000. The parties have agreed that, upon repayment in full of the Second LowCal Note, LowCal will forever release, cancel and terminate all of its mortgages and any other liens against the Company. On August 14, 2015, the exercise price of the original 500,000 warrants granted to LowCal in 2014 was reduced from $4.00 per share to $2.00 per share, and the expiration date of the warrants was extended from August 14, 2017 to January 1, 2019. The Company recorded as a cost $275,560 for the repricing and extending the expiration date of these 500,000 previously issued warrants. Also on August 14, 2015, the Company issued to LowCal 75,000 restricted shares of its common stock, as well as an additional warrant to purchase 500,000 shares of restricted common stock of the Company at an exercise price of $2.00, vesting immediately and expiring January 1, 2019. The Company recorded as financing costs the fair value of the 75,000 shares of common stock of $311,250 based on the trading price of its shares on the date of the agreement, and the fair value of 500,000 new warrants of $1,936,558 as determined by the Black-Scholes pricing model. The assumptions used in calculating the fair value of options and extensions granted using the Black-Scholes option- pricing model for options are as follows: ☐ Expected life of 1.22 years; ☐ Volatility of 182%; ☐ Dividend yield of 0%; and ☐ Risk free interest rate of 1.10%. On March 11, 2016, the Company and LowCal amended the LowCal Agreements (the "Seventh Amendment to the LowCal Agreements"). Under the Seventh Amendment to the LowCal Agreements: (i) the maturity dates of the LowCal Loan and Second LowCal Note was extended to May 1, 2016; (ii) the expiration date of LowCal's warrants was extended to May 1, 2020; (iii) the Company issued to LowCal, LLC ("LowCal") an additional 75,000 restricted shares of the Company's common stock; and (iv) the parties agreed that if: (1) the Company pays off the $3,250,000 principal balance of the Second LowCal Note in full, plus any accrued and unpaid interest, and (2) either: (A) the Company closes a transaction where it acquires at least $10,000,000 in additional assets, through an asset purchase, stock purchase, merger, or other similar transaction, which shall be determined by generally accepted accounting principles, or (B) the Company successfully uplists its common stock to a national exchange market (NASDAQ or the New York Stock Exchange), then the following will automatically occur: (1) the conversion price of the LowCal Loan will be reduced from $2.50 per share to $2.00 per share, and (2) any outstanding principal and interest due on the LowCal Loan will be converted at a price of $2.00 per share into restricted shares of the Company's common stock, which shall be issued to LowCal. The value of the 75,000 shares issued with the Seventh Amendment to the LowCal Agreements was $300,000 which was the fair value of the shares on March 11, 2016. The $300,000 was charged to financing cost during the year ended December 31, 2016. In addition, the Company took a charge to earnings of $188,378 during the year ended December 31, 2016 related to the extension of the expiration date of 1,000,000 warrants previously issued to LowCal. The charge is the difference in fair value of the warrants using the old expiration date and the new expiration date using the Black-Scholes option- pricing model for options with the following assumptions: ☐ Expected life of 2.81 to 4.14 years; ☐ Volatility of 174%; ☐ Dividend yield of 0%; and ☐ Risk free interest rate of 1.16%.

Note 4 - Notes Payable

Note 4 - Notes Payable	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 4 - Notes Payable	NOTE 4 - NOTES PAYABLE Notes payable at December 31, 2016 and 2015 are as follows: December 31, 2016 2015 Secured note payable, at 18% (1) $ 300,000 $ 600,000 Note payable at 4% to 10%, (2) 728,000 453,000 Note payable, at 2%, (3) 100,000 100,000 Note payable at 10%, (4) - 150,000 Note payable at 4% to 5% (5) 100,000 30,000 Note payable at 10%, (6) - 50,000 Note payable at 10%, (7) 100,000 - Note payable at 10%, (8) 200,000 - Note payable at 2%, (9) 500,000 - Note payable at 2%, (10) 40,000 - Total notes payable 2,068,000 1,383,000 Debt discount (45,916) - $ 2,022,084 $ 1,383,000 (1) On February 16, 2012, and as amended through January 1, 2016, Eos entered into a Secured Promissory Note with Vatsala Sharma (“Sharma”) for a secured loan for $600,000 at an interest rate of 18% per annum (as amended, the “Sharma Loan”). The Sharma Loan is secured by a blanket security interest in all of Eos’ assets, and newly acquired assets, a mortgage on the Works Property, a 50% security interest in Nikolas Konstant’s personal residence, and his personally held shares in a non-affiliated public corporation. As amended, the maturity date of the Sharma Loan is January 15, 2017. This note is currently in default. As additional consideration for entering into the Sharma Loan, the Company issued 400,000 shares of common stock. Under the terms of the Sharma Loan, Sharma will receive an additional 275,000 shares of the Company’s common stock as of January 1, 2016. The value of the 275,000 shares issued to Sharma was $1,100,000, which was the fair value of the shares on January 1, 2016. Such amount was charged to financing cost during the year ended December 31, 2016. During the year ended December 31, 2016, $300,000 of this note plus $456,460 of accrued interest was converted into 756,460 shares of the Company’s common stock. (2) On September 30, 2014, the Company issued an unsecured promissory note to Bacchus Investors, LLC (“Bacchus”) for $323,000, with interest at 4%. During 2015, the Company issued $130,000 of additional unsecured promissory notes to Bacchus with interest at 10%. The outstanding principal balance at December 31, 2015 was $453,000. During 2016, the Company issued additional unsecured promissory notes of $275,000 to Bacchus with interest at 5% -10% for a total outstanding of $728,000 at December 31, 2016. The unsecured promissory notes are due upon demand. (3) On October 9, 2014, the Company issued an unsecured promissory note to Ridelinks, Inc. for $200,000, with interest at 2% and a maturity date of March 15, 2015 that was extended to June 15, 2015 and includes an exit fee of $30,000. The maturity date was subsequently been extended to April 30, 2016. In consideration for extending the due date of this note per an agreement dated March 25, 2016, the Company issued to Ridelinks 40,000 shares of the Company’s common stock. The value of the 40,000 shares issued to Ridelinks was $150,000 which was the fair value of the shares on March 26, 2016. The $150,000 was charged to financing cost during the year ended December 31, 2016. On April 14, 2017, this note was amended to extend thedue date to July 31, 2017 (See Note 13). (4) On April 15, 2015, the Company issued an unsecured promissory note to Clearview Partners II, LLC ("Clearview") for $150,000, with interest at 10%. The Company and Clearview executed letter agreements extending the maturity date of the unsecured promissory note to July 1, 2016. During the year ended December 31, 2016, this note plus $18,205 of accrued interest was converted into 168,205 shares of the Company’s common stock. (5) Unsecured promissory notes, with interest ranging from 4% to 5% per annum, and due upon demand. During the year ended December 31, 2016, one of these notes with principal outstanding of $30,000 was converted into 30,000 shares of the Company’s common stock. (6) On December 14, 2015, the Company issued an unsecured promissory note to an individual for $50,000, with interest at 10% and a maturity date of July 1, 2016. On January 20, 2016, the Company issued an additional unsecured promissory note to this individual for $50,000, with interest at 10% and a maturity date of July 1, 2016. As of December 31, 2016, the total of $100,000 has fully been repaid. (7) On February 18, 2016, the Company issued an unsecured promissory note in settlement of accounts payable of $120,000, with interest at 10%. $20,000 had been repaid on the note with the remaining principal due on July 31, 2017. (8) On June 27, 2016, the Company issued a secured promissory note to an investor for $200,000, with interest at 10% and a maturity date of October 31, 2016, which was extended to July 30, 2017 (See Note 13). This note is secured by 1,000,000 shares of common stock owned by the Company’s majority stockholder, Plethora Enterprises, LLC (“Plethora”). In connection with this promissory note, the Company also issued to the investor 200,000 warrants to purchase shares of the Company’s common stock with an exercise price of $1.00 per share and 300,000 shares of the Company’s common stock valued at $300,000. The fair values of the warrants were determined using the Black-Scholes option pricing model with the following assumptions: ☐ Expected life of 3.0 years ☐ Volatility of 174%; ☐ Dividend yield of 0%; ☐ Risk free interest rate of 0.71% The aggregate relative fair value of the warrants were valued at $92,987 and was recorded as a discount on the promissory note and as additional paid in capital. The value of the common stock of $300,000 first recorded as a discount of $107,013, with the balance of $192,987 was charged to financing costs. The combined total discount of $200,000 was fully amortized and charged to interest expense during the year ended December 31, 2016. (9) On August 10, 2016, the Company issued a secured promissory note to an investor for $500,000, with interest at 2% and a maturity date of February 5, 2017. This note has been amended (see Note 13). This note is secured by 2,000,000 shares of common stock owned by the Company’s majority stockholder, Plethora, and real property owned by an unrelated party. The note also provides for a loan fee of $75,000 to be paid upon maturity. In connection with this promissory note, the Company also issued to the investor 150,000 warrants to purchase shares of the Company’s common stock with an exercise price of $1.00 per share and 150,000 shares of the Company’s common stock valued at $135,000. The fair values of the warrants were determined using the Black-Scholes option pricing model with the following assumptions: ☐ Expected life of 3.0 years ☐ Volatility of 169%; ☐ Dividend yield of 0%; ☐ Risk free interest rate of 0.80% The aggregate relative fair value of the warrants were valued at $93,303 and was recorded as a discount on the promissory note and as additional paid in capital. The value of the common stock of $135,000 was also recorded as a discount on the promissory note. The combined total discount is $228,303 and is being amortized over the term of the note. During the year ended December 31, 2016, $182,387 was charged to interest expense as amortization of the discount, with unamortized balance of $45,916 as of the year then ended. On May 19, 2016, the Company issued two secured promissory notes for $37,500 each, with interest at 1% and a maturity date of July 6, 2016. In connection with these promissory notes, the Company also issued to the noteholders 750,000 shares of the Company’s common stock valued at $870,000. In addition, for one note, Plethora, the Company’s majority stockholder, issued the noteholder 250,000 shares of the Company’s common stock valued at $290,000. The value of the common stock was based on the closing stock price on the date of the agreements and was recorded as a discount of $75,000 and the reminder of $1,085,000 was charged to financing costs. The discount of $75,000 was amortized over the term of the notes. During the quarter ended September 30, 2016, these notes were fully repaid. (10) On November 1, 2016, the Company issued a promissory note to an investor for $40,000 with a $10,000 original issue discount and a maturity date of November 30, 2016. In connection with this promissory note, the Company issued 25,000 shares of common stock valued at $25,000 which was equal to the market price of the stock at the issuance date. In addition, the Company also issued to the investor 500,000 warrants to purchase shares of the Company’s common stock with an exercise price of equal to 85% of the price per shares of common stock sold by the Company in a future offering of at least $1,000,000. If no such offering occurs within six months then the exercise price will be $0.10 per shares. Since the exercise price of this warrant is a percentage of a future offering price, this warrant has been treated as a derivative instrument. The fair value of this warrant was determined to be $471,459. The fair values of the warrants were determined using the Black-Scholes option pricing model with the following assumptions: ☐ Expected life of 3.0 years ☐ Volatility of 135%; ☐ Dividend yield of 0%; ☐ Risk free interest rate of 0.80% The fair values of the common stock and warrants issued with this note with an aggregate fair value of $496,459 and was recorded as a discount on the promissory note up to the face amount of the note of $40,000 and the remaining $456,459 was recorded as a financing cost. The combined total discount of $40,000 was fully amortized and charged to interest expense during the year ended December 31, 2016. The note is currently in default. The weighted average interest rate at December 31, 2016 for the outstanding notes payable is 8.4%

Note 5 - Notes Payable, Related

Note 5 - Notes Payable, Related Party	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 5 - Notes Payable, Related Party	NOTE 5 – NOTES PAYABLE, RELATED PARTY The Company has been receiving advances from Plethora, a company wholly owned by Nickolas Konstant, the Company’s majority shareholder and CFO. During the years ended December 31, 2016 and 2015, Plethora sold an aggregate of 351,515 and 4,580,000, respectively, of its shares of the Company’s restricted common stock in private sales. Following the private sales transactions, Plethora loaned all of the aggregate proceeds from the private sale of stock of to the Company, and concurrently, the Company issued Plethora separate unsecured promissory notes for the aggregate principal amount received. During the year ended December 31, 2016, the proceeds from these sales of $125,000 were loaned to the Company. During the year ended December 31, 2015, the proceeds from these sales were $1,520,000, of which $1,320,000 of the cash proceeds were loaned directly to the Company, and $200,000 was paid directly to retire an existing note payable. All of the loans extended by Plethora to the Company accrue interest at an annual rate of 10%, and become due on July 1, 2016. During the years ended December 31, 2016 and 2015, $45,274 and $311,840, respectively, of the notes was repaid. At December 31, 2015, the aggregate principal balance due under the promissory notes was $1,208,160. Nikolas Konstant is the sole member and manager of Plethora. During the year ended December 31, 2016, the entire balance due on these notes payable of $1,287,886 and accrued interest of $110,095 were converted into 1,397,981 shares of the Company’s common stock. The balance of the notes payable, related party at December 31, 2016 was $0. During the years ended December 31, 2016 and 2015, of the 351,515 and 4,580,000 shares, respectively, of common stock sold by Plethora as discussed above, 351,515 and 3,820,000 shares, respectively, were sold to either affiliates of the Company, vendors, or individuals with whom the Company had a past business relationship. The Company considered the provisions of Staff Accounting Bulletin (“SAB”) Topic 5T, Accounting for Expenses or Liabilities Paid by Principal Stockholders

Note 6 - Asset Retirement Oblig

Note 6 - Asset Retirement Obligation	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 6 - Asset Retirement Obligation	NOTE 6 – ASSET RETIREMENT OBLIGATION Changes in the Company’s asset retirement obligations were as follows: Years Ended December 31, 2016 2015 Asset retirement obligation, beginning of period $ 92,512 $ 84,102 Additions - - Accretion expense 9,252 8,410 Asset retirement obligations, end of period $ 101,764 $ 92,512

Note 7 - Derivative Liabilities

Note 7 - Derivative Liabilities	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 7 - Derivative Liabilities	NOTE 7 – DERIVATIVE LIABILITIES Under authoritative guidance used by the FASB on determining whether an instrument (or embedded feature) is indexed to an entity’s own stock, instruments which do not have fixed settlement provisions are deemed to be derivative instruments. In August 2014, the Company issued warrants to purchase an aggregate of 1,775,000 shares of the Company’s common stock, to a former note holder and certain other related parties. The warrant agreements included an anti-dilution provision that would reduce the exercise price if the Company were to issue additional equities at a price below the exercise price which is in effect at the time of the issuance of the additional equities. The Company determined that these warrants met the definition of a derivative and are to be re-measured at the end of each reporting period with the change in fair value reported in the statement of operations. On July 2, 2016, the Company and the warrant holders entered into an agreement whereby the Company agreed to reduce the exercise price of the warrants to $1.00 in exchange for the warrant holder removing the anti-dilution provision contained in the warrant agreements. As a result of the removal of this anti-dilution provision, these warrants are no longer considered derivative liabilities, and the fair value of the warrants of $1,389,628 was reclassified to additional paid-in capital. On November 1, 2016, the Company issued a warrant to purchase an aggregate of 500,000 shares of the Company’s common stock to an investor in connection with a note payable. The exercise price of the warrant is equal to 85% of the price per shares of common stock sold by the Company in a future offering of at least $1,000,000. If no such offering occurs within six months then the exercise price will be $0.10 per shares. Since the exercise price of the warrant is a percentage of a future offering price, the Company determined that the warrant met the definition of a derivative and is to be re-measured at the end of each reporting period with the change in fair value reported in the statement of operations. As of December 31, 2016, November 1, 2016, July 2, 2016, and December 31, 2015, the derivative liabilities were valued using a probability weighted average Black-Scholes-Merton pricing model with the following assumptions: December 31, Upon Issuance Upon Extinguishment December 31, 2016 November 1, 2016 July 2, 2016 2015 Exercise Price $ 0.10 0.10 $ 1.00 $ 2.00 Stock Price $ 1.00 1.00 $ 1.00 $ 4.00 Risk-free interest rate 0.80% 0.80% 0.59% 1.06% Expected life of the options (Years) 2.84 3.00 2.14 2.64 Expected volatility 133% 133% 169% 180% Expected dividend yield 0% 0% 0% 0% Expected forfeitures 0% 0% 0% 0% Fair Value $ 469,267 $ 471,459 $ 1,389,628 $ 6,381,553 The risk-free interest rate was based on rates established by the Federal Reserve Bank. The Company uses the historical volatility of its common stock to estimate the future volatility for its common stock. The expected life of the warrants was determined by the expiration dates of the warrants. The expected dividend yield was based on the fact that the Company has not paid dividends to its common stockholders in the past and does not expect to pay dividends to its common stockholders in the future. The Company recorded a change to the fair value of derivative liabilities of $4,994,117 and $4,657,999 for the years ended December 31, 2016 and 2015, respectively.

Note 8 - Related Party Transact

Note 8 - Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 8 - Related Party Transactions	NOTE 8 - RELATED PARTY TRANSACTIONS Plethora Enterprises, LLC The Company has a consulting agreement with Plethora, which is solely owned by Nikolas Konstant, the Company’s Chairman of the Board and Chief Financial Officer. Under the consulting agreement, for the years ended December 31, 2016 and 2015, the Company recorded compensation expense of $360,000 and $360,000, respectively. At December 31, 2016 and 2015, there was $363,601 and $180,000, respectively, due to Mr. Konstant under the Plethora consulting agreement, and included in the balance of accrued officers’ compensation in the accompanying consolidated balance sheet. In addition, Plethora has made advances to the Company as described in Note 6.

Note 9 - Stockholders' Deficit

Note 9 - Stockholders' Deficit	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 9- Stockholders' Deficit	NOTE 9 - STOCKHOLDERS’ DEFICIT During the year ended December 31, 2016, the Company issued: • 400,000 shares of its common stock to consultants for services rendered. The shares were valued at $465,000 based on the market price of the Company’s common stock at the date of issuance; • 315,000 shares of its common stock in connection with debt extensions. The shares were valued at $1,250,000 based on the market price of the Company’s common stock at the date of issuance; • 75,000 shares of its common stock in connection with an amendment of a note agreement. The shares were valued at $300,000 based on the market price of the Company’s common stock at the date of issuance; • 1,225,000 shares of its common stock in connection with notes payable. The shares were valued at $1,330,000 based on the market price of the Company’s common stock at the date of issuance; • 2,518,646 shares of its common stock in connection with the conversion of notes payable of $480,000; notes payable to related party of $1,287,886; accrued interest of $584,760 and accrued expenses of $166,000 and; • 100,000 shares of its common stock for cash proceeds of $100,000. During the year ended December 31, 2015, the Company issued: • 14,000 shares of its common stock to a consultant for services rendered. The shares were valued at $62,659 based on the market price of the Company’s common stock at the date of issuance; and • 75,000 shares of its common stock in connection with a debt extension. The shares were valued at $311,250 based on the market price of the Company’s common stock at the date of issuance.

Note 10 - Stock Options and War

Note 10 - Stock Options and Warrants	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 10- Stock Options and Warrants	NOTE 10 - STOCK OPTIONS AND WARRANTS Option Activity A summary of option activity is presented below: Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price ($) Life (in years) Value ($) Outstanding, December 31, 2014 1,300,000 2.50 3.81 Granted 25,000 2.50 Exercised - Forfeited/Canceled - Outstanding, December 31, 2015 1,325,000 2.50 3.08 2,186,250 Granted 4,500,000 1.00 Exercised - Forfeited/Canceled (75,000) 2.50 Outstanding, December 31, 2016 5,750,000 1.33 3.63 - Exercisable, December 31, 2016 2,750,000 1.68 3.19 - At December 31, 2016, the intrinsic value of outstanding and exercisable stock options was zero. The following table summarizes information about options outstanding at December 31, 2016: Options Outstanding Weighted Weighted Average Average Exercise Number of Remaining Exercise Price ($) Shares Life (Years) Price ($) 1.00 4,500,000 4.03 1.00 2.50 1,250,000 2.17 2.50 In connection with Mr. Alan Gaines' employment as the Company’s President, the Company and Mr. Gaines entered into a Stock Option Agreement, signed on December 16, 2015 and effective January 11, 2016 (“Effective Date”), whereby the Company granted Mr. Gaines options to purchase up 4,500,000 shares of the Company's restricted common stock, all of which have an exercise price of $1.00 per share and expire in five years. The Company determined the total fair value at grant date was $17,627,047, calculated using the Black-Scholes option pricing model. The options vest as follows: 1,500,000 of the shares vested on the Effective Date; 1,500,000 of the shares shall vest on the first anniversary of the Effective Date; and 1,500,000 of the shares shall vest on the second anniversary of the Effective Date. On February 11, 2015, Sudhir Vasudeva was granted an option to purchase 25,000 restricted shares of the Company’s common stock in exchange for his services as a director of the Company. Such options were valued at $98,226 using a Black-Scholes valuation model, vested fully on the date of issuance, have an exercise price of $2.50 per share and expire on May 1, 2016. Furthermore, on February 11, 2015, the Company extended the expiration date of an aggregate of 100,000 options which had previously been granted and vested to certain directors of the Company at an exercise price of $2.50 per share, and which were set to expire on May 1, 2015. As extended, such options now also expire on May 1, 2016. The value of the extension of the options was calculated as $99,684 using a Black-Scholes valuation model. The assumptions used in calculating the fair value of options granted using the Black-Scholes option- pricing model for options granted during the years ended December 31, 2016 and 2015 are as follows: 2016 2015 Risk-free interest rate 1.58% 1.10% Expected life of the options (Years) 5.00 1.22 Expected volatility 179% 182% Expected dividend yield 0% 0% Expected forfeitures 0% 0% The weighted average grant-date fair value for the options granted during the years ended December 31, 2016 and 2015 was $3.92 and $3.93, respectively. During the year ended December 31, 2016 and 2015, the Company recorded $14,446,834 and $4,673,412, respectively, of share based compensation relating to the vesting of options granted. As of December 31, 2016, the unamortized balance related to future stock based compensation for options previously granted but not vested is $3,180,213. Warrant Activity A summary of warrant activity is presented below: F-19 Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Warrants Price ($) Life (in years) Value ($) Outstanding, December 31, 2014 14,577,992 4.69 1.96 Granted 2,125,000 2.39 Exercised - Forfeited/Canceled (8,090,000) 4.21 Outstanding, December 31, 2015 8,612,992 3.25 2.66 11,237,988 Granted 1,317,742 1.10 Exercised - Forfeited/Canceled (1,303,000) 3.00 Outstanding, December 31, 2016 8,627,734 2.75 2.26 450,000 Exercisable, December 31, 2016 8,627,734 2.75 2.26 450,000 The following tables summarize information about warrants outstanding and exercisable at December 31, 2016: Warrants Outstanding and Exercisable Weighted Weighted Average Average Exercise Number of Remaining Exercise Price ($) Shares Life (Years) Price ($) 0.10 500,000 2.84 1.00 1.00 2,175,000 1.84 1.00 2.00 1,100,000 2.80 2.00 2.50 3,207,734 2.61 2.50 3.00 50,000 3.13 3.00 4.00 75,000 1.58 4.00 6.00 20,000 0.33 6.00 7.15 1,500,000 1.53 7.15 8,627,734 Warrants issued with notes payable During the year ended December 31, 2016, the Company issued warrants to purchase an aggregate of 850,000 shares of the Company’s common stock to three (3) note holders in conjunction with the issuance of notes payable with total principal of $740,000 (See Note 4). Warrants issued to consultants During the year ended December 31, 2016, the Company issued a total of 467,742 warrants to two consultants and the CEO with an aggregate fair value of $1,164,738 which was recorded as expense during the year ended December 31, 2016. The fair values of the warrants were determined using the Black-Scholes option pricing model with the following assumptions: ☐ Expected life of 5.0 years ☐ Volatility of 171%-176%; ☐ Dividend yield of 0%; ☐ Risk free interest rate of 1.21% - 1.39% Pursuant to a consulting agreement effective as of August 1, 2013, as subsequently amended from time to time (the “ BAS Agreement ”), between the Company, AGRA Capital, LLC (“ AGRA ”) and BA Securities, LLC (“BAS”), AGRA and BAS agreed to provide certain financial advisory services to the Company. On April 6, 2015, and as subsequently amended through September 28, 2015, the Company entered into an agreement (“Agreement ”) with Mr. Konstant, AGRA, BAS, Jeff Ahlholm, and Lloyd Brian Hannan (AGRA, BAS, Mr. Ahlholm and Mr. Hannan are collectively referred to herein as “BAS and Agents”). The Agreement terminated the BAS Agreement in its entirety. The Agreement further provides that, in the event that the Company completes certain acquisitions or financings on or prior to April 7, 2017, then additional cash and warrant compensation will be paid to BAS and Agents. Further, in consideration for advisory services previously rendered, the Company issued an aggregate of 1,500,000 warrants to BAS and Agents, all vesting immediately with an exercise price of $2.50 per share and an expiration date of May 1, 2019. The fair value of the warrants was determined to be $7,307,825 using a Black-Scholes model. Pursuant to the Agreement, the Company also extended the expiration date of another 600,000 warrants currently held by BAS and Agents to May 1, 2019, and reduced the exercise price from $4.00 per share to $2.50 per share. The fair value of the extension and modification of these warrants was determined to be $121,339. The Company used the following assumptions in determining the fair value: ☐ Expected life of 3.32 to 4.07 years ☐ Volatility of 182%; ☐ Dividend yield of 0%; ☐ Risk free interest rate of 1.10% During the year ended December 31, 2015, the Company issued a total of 125,000 warrants to consultants with an aggregate fair value of $577,897 and recorded as expense during the year ended December 31, 2015. In addition, warrants previously issued to a consultant in 2014 with a fair value of $150,223 vested during the period and were recorded as expense during the year ended December 31, 2015. The fair values of the warrants granted in 2015 were determined using the Black-Scholes option pricing model with the following assumptions: ☐ Expected life of 3-5 years ☐ Volatility of 179%-182%; ☐ Dividend yield of 0%; ☐ Risk free interest rate of 1.01% - 1.10%

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 11 - Commitments and Contingencies	NOTE 11 - COMMITMENTS AND CONTINGENCIES Dune Merger Agreement On September 17, 2014 the Company entered into an Agreement and Plan of Merger with Dune Energy Inc. ("Dune") and Eos Delaware, dated as of September 16, 2014, as subsequently amended (the "Dune Merger Agreement"), and on the terms and subject to the conditions described therein, Eos Delaware agreed to conduct a cash tender offer to purchase all of Dune's issued and outstanding shares of common stock at a price of $0.30 per share in cash, without interest, upon the terms and conditions set forth in the Dune Merger Agreement. Due to the severe decline in oil prices, the Company's sources of capital for the merger and tender offer were withdrawn, and the Company was unable to complete the merger and tender described in the Dune Merger Agreement on the terms originally negotiated. After a series of amendments to the Dune Merger Agreement while the parties continued to try to negotiate financing terms, the tender offer ultimately expired on February 27, 2015. Subsequently, on March 4, 2015, Dune provided the Company with notice of its decision to terminate the Dune Merger Agreement in accordance with the terms thereof, and demanded the Parent Termination Fee (as defined in the Dune Merger Agreement) of $5,500,000 in cash, and reimbursement for certain unidentified expenses incurred by Dune. Dune has threatened to bring litigation to collect these amounts in connection with its contention that the Company breached the Dune Merger Agreement and is entitled to the Parent Termination Fee. The Company has accordingly recorded a liability for $5,500,000 related to the Parent Termination Fee. No lawsuit has been filed to date against the Company for the Parent Termination Fee, and the Company would vigorously defend itself, should any action ever be brought. GEM Global Yield Fund Pursuant to the financing commitment, dated August 31, 2011, and the Common Stock Purchase Agreement and Registration Rights Agreement, both dated as of July 11, 2013, entered into between the Company and GEM (collectively referred to as the "Commitment Agreements"), the Company was required to use commercially reasonable efforts to uplist to the NYSE, NASDAQ or AMEX stock exchange within 270 days of July 11, 2013, and then to file a registration statement covering the shares and warrants referenced in the Commitment Agreements within 30 days of uplisting. The Company further agreed to pay to GEM a structuring fee equal to $4 million, which was to be paid on the 18 month anniversary of July 11, 2013 regardless of whether the Company had drawn down from the Commitment at that time. At the Company's election, the Company may elect to pay the structuring fee in registered shares of its common stock of the Company at a per share price equal to 90% of the average closing trading price of the Company's common stock for the thirty-day period immediately prior to the 18-month anniversary of July 11, 2013. As of January 11, 2015, the 18-month anniversary date of the agreement, the Company had not met this requirement and may now become liable for payment of this structuring fee to GEM. As of December 31, 2015, the Company has recorded an accrued structuring fee of $4 million. Office Lease On December 27, 2012, the Company entered into a lease to rent 3,127 square feet of space to be used as the principal office of the Company. The lease term is from December 27, 2012 to April 30, 2017. On February 1, 2017, the Company extended the lease through September 30, 2022. The Company paid a security deposit of $54,128. The minimum lease payments are as follows: Year Amount 2017 $ 218,010 2018 229,061 2019 235,933 2020 243,028 2021 250,324 Thereafter 192,741 $ 1,369,097 Rent expense for the years ended December 31, 2016 and 2015 was $177,545 and $177,545, respectively.

Note 12 - Income Taxes

Note 12 - Income Taxes	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 12 - Income Taxes	NOTE 12 - INCOME TAXES Deferred tax assets of the Company at December 31, 2016 and 2015 are as follows: 2016 2015 Deferred tax assets: Net operating loss carryforwards $ 6,184,204 $ 3,802,383 Deferred compensation 169,696 55,172 Accrued expenses 4,280,687 4,172,035 Stock based compensation 181,247 181,247 Valuation allowance (10,815,834) (8,210,837) Net deferred tax asset $ - $ - A valuation allowance has been recorded to reduce the net benefit recorded in the financial statements related to these deferred tax assets. The valuation allowance is deemed necessary as a result of the uncertainty associated with the ultimate realization of these deferred tax assets. The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes for the years ended December 31, were as follows: 2016 2015 Statutory federal income tax rate (34) % (34) % State income taxes, net of federal taxes (6) % (6) % Non-includable items 24 % 17 % Increase in valuation allowance 16 % 23 % Effective income tax rate - - The Company adopted accounting rules which address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under these rules, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. These accounting rules also provide guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. As of December 31, 2016 and 2015, no liability for unrecognized tax benefits was required to be recorded. At December 31, 2016, the Company had net operating loss carry forwards of approximately $15,434,000 for both federal and state that may be offset against future taxable income. These carry forwards will begin to expire in the year ended December 31, 2031. No tax benefit has been reported in the December 31, 2016 and 2015 financial statements since the potential tax benefit is offset by a valuation allowance of the same amount.

Note 13 - Subsequent Events

Note 13 - Subsequent Events	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 13- Subsequent Events	NOTE 13– SUBSEQUENT EVENTS In January 2017, the Company sold 100,000 shares of its common stock for proceeds of $100,000. On August 10, 2016, the Company issued a secured promissory note to an investor for $500,000, with interest at 2% and a maturity date of February 5, 2017. On February 6, 2017 the note was amended to increase the note amount to $580,000 (original principal amount of $500,000 plus original loan fee of $75,000 plus accrued interest of $5,000). The amended note accrues interest at 5% per annum and is due on June 5, 2017. In addition to the collateral to secure the original note, this amended note also provides the lender a leasehold mortgage on the Works Property. The amended note also includes a $50,000 loan fee. The amendment will be recorded as a debt extinguishment. On June 27, 2016, the Company issued a secured promissory note to an investor for $200,000, with interest at 10% and a maturity date of December 15, 2016 as amended. On April 11, 2017 the note was amended to extend the maturity date to July 30, 2017. As consideration for the extending maturity date, the Company agreed to pay a $25,000 loan fee and issue the lender 200,000 shares of the Company’s common stock. The amendment will be recorded as a debt extinguishment. On October 9, 2014, the Company issued an unsecured promissory note to Ridelinks, Inc. for $200,000 (current outstanding balance is $100,000) with a maturity date of March 26, 2016, as amended. On April 14, 2017 the note was amended to extend the maturity date to July 31, 2017. As consideration for the extending maturity date, the Company agreed to issue the lender 35,000 shares of the Company’s common stock. The amendment will be recorded as a debt extinguishment.

Note 14 - Supplemental Informat

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited)	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited)	NOTE 14 - SUPPLEMENTAL INFORMATION RELATING TO OIL AND GAS PRODUCING ACTIVITIES (UNAUDITED) Costs incurred in oil and gas property acquisition, exploration and development activities are summarized below: Years Ended December 31, December 31, 2016 2015 Unproved property acquisition costs $ - $ - Exploration costs - - Development costs - - Asset retirement obligation 9,251 8,410 Total cost incurred $ 9,251 $ 8,410 Estimated Quantities of Proved Reserves Estimates of proved reserves as of December 31, 2016 and 2015 were prepared by management using the report of Hahn Engineering, Inc. an independent engineering firm. The estimated proved net recoverable reserves presented below include only those quantities that were expected to be commercially recoverable at prices and costs in effect at the balance sheet dates under the then existing regulatory practices and with conventional equipment and operating methods. Proved developed reserves represent only those reserves estimated to be recovered through existing wells. Proved undeveloped reserves include those reserves that may be recovered from new wells on undrilled acreage or from existing wells on which a relatively major expenditure for recompletion or secondary recovery operations is required. All of the Company’s Proved Reserves were located onshore in the continental United States of America. Management has performed its impairment tests on its oil and gas properties as of December 31, 2016 and has concluded that a full impairment reserve should be provided on the costs capitalized for its unproved oil and gas properties consisting solely of the Company’s Works Property oil and gas assets located in the Albion Consolidated Field, Edwards County, Illinois. Therefore, an impairment charge of $1,051,702 has been included in operating expenses for the year ended December 31, 2016, which reduces the carrying amount of oil and gas properties to zero as of December 31, 2016. The impairment was primarily related to property that the Company does not expect to develop. The following table shows the estimated proved developed reserves and the proved undeveloped reserves: Estimated Quantities of Proved Reserves December 31, December 31, 2016 2015 Oil Oil (bbls) (bbls) Balance, beginning of the year 209,506 234,222 Purchases of reserves in place - - Revision of previous estimates (208,295) (19,869) Production (1,211) (4,847) Net change - 209,506 The following table reflects the changes in estimated quantities of proved reserves: Estimated Quantities of Proved Reserves December 31, December 31, 2016 2015 Oil Oil (bbls) (bbls) Proved developed reserves: - 36,914 Proved undeveloped reserves: - 172,592 Total proved reserves - 209,506 Standardized Measure of Discounted Future Net Cash Flows The Standardized Measure related to prove oil and gas reserves is summarized below. Future cash inflows were computed by applying a twelve month average of the first day of the month prices to estimated future production, less estimated future expenditures (based on year end costs) to be incurred in developing and producing the proved reserves, less estimated future income tax expense. Future income tax expenses are calculated by applying appropriate year-end tax rates to future pretax net cash flows, less the tax basis of properties involved. Future net cash flows are discounted at a rate of 10% annually to derive the standardized measure of discounted future net cash flows. This calculation procedure does not necessarily result in an estimate of the fair market value or the present value of the Company. Discounted future cash flow estimates like those shown below are not intended to represent estimates of the fair value of oil and gas properties. Estimates of fair value should also consider unproved reserves, anticipated future oil and gas prices, interest rates, changes in development and production costs and risks associated with future production. Because of these and other considerations, any estimate of fair value is subjective and imprecise. Standardized Measure of Oil and Gas December 31, December 31, 2016 2015 Future cash inflows $ 409,464 $ 9,069,498 Future production and development costs (409,464) (3,608,652) Future income taxes - - Future net cash flows - 5,460,846 Discount of future net cash flows at 10% per annum - (2,688,176) Standardized measure of discounted future net cash flows $ - $ 2,772,670 Reserve estimates and future cash flows are based on the average market prices for sales of oil and gas on the first calendar day of each month during the year. The average prices used for 2016 and 2015 were $35 and $42 per barrel, respectively, for crude oil. The future cash flow could be significantly different than the amount in the above table when the oil is actually sold. Future operating expenses and development costs are computed primarily by the Company’s petroleum engineers by estimating the expenditures to be incurred in developing and producing the Company’s proved oil and gas reserves at the end of the year, based on year end costs and assuming continuation of existing economic conditions. Future income taxes are based on year-end statutory rates, adjusted for the tax basis of oil and gas properties and available applicable tax assets. A discount factor of 10% was used to reflect the timing of future net cash flows. The standardized measure of discounted future net cash flows is not intended to represent the replacement cost or fair value of the Company’s oil and gas properties. An estimate of fair value would also take into account, among other things, the recovery of reserves not presently classified as proved, anticipated future changes in prices and costs, and a discount factor more representative of the time value of money and the risks inherent in oil and gas reserve estimates. The following table sets forth the changes in standardized measure of discounted future net cash flows relating to prove oil and gas reserves for the periods indicated. Changes in Standardized Measure December 31, December 31, 2016 2015 Beginning of the year $ 2,772,670 $ 8,204,964 Sales of oil and gas produced, net of production costs 19,435 (59,959) Purchases of minerals in place - - Revision of previous quantity estimates (2,792,105) (5,372,335) Net change $ - $ 2,772,670

Note 1 - Organization and Sum22

Note 1 - Organization and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Policy Text Block [Abstract]
Organization and Business	Organization and Business Eos Petro, Inc. (the “Company”) is in the business of acquiring, exploring and developing oil and gas-related assets. The Company was organized under the laws of the state of Nevada in 2007. On October 12, 2012, the Company (then named "Cellteck, Inc.") and Eos Global Petro, Inc. ("Eos") merged with Eos being the surviving entity and the Company the legal acquirer. As a result of the merger, Eos became a wholly-owned subsidiary of the Company. Effective May 20, 2013, the Company changed its name to Eos Petro, Inc. The Company has two wholly-owned subsidiaries, Eos and Eos Merger Sub, Inc., a Delaware corporation ("Eos Delaware"), which was formed as an acquisition vehicle for potential transactions. Eos itself also has two subsidiaries: Plethora Energy, Inc., a Delaware corporation and a wholly-owned subsidiary of Eos ("Plethora Energy"), and EOS Atlantic Oil & Gas Ltd., a Ghanaian corporation ("EAOG"), which is also 10% owned by one of the Company's Ghanaian-based third party consultants. Plethora Energy also owns 90% of Plethora Bay Oil & Gas Ltd., a Ghanaian corporation ("PBOG"), which is also 10% owned by the same Ghanaian-based consultant. Eos, Eos Delaware, PBOG, Plethora Energy and EAOG are collectively referred to as the Company's "Subsidiaries."
Going Concern	Going Concern The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As of December 31, 2016, the Company had a stockholders’ deficit of $23,454,696, and, for the year ended December 31, 2016, reported a net loss of $20,021,458 and had negative cash flows from operating activities of $818,141. The Company is also in default on $9,200,000 of its convertible and promissory notes. In addition, the Company may have become obligated to pay a $5.5 million termination fee under the "Dune Merger Agreement," as defined in Note 11 below (the "Parent Termination Fee," as more fully defined in the Dune Merger Agreement) (see Note 11) and $4 million that may be due under a structuring fee with GEM Global Yield Fund ("GEM"). Furthermore, $8,250,000 of LowCal Convertible and Promissory Notes became due on May 1, 2016 and are therefore now due and payable. Management estimates the Company's capital requirements for the next twelve months, including drilling and completing wells for the Company's oil and gas "Works Property" located in Illinois and possible acquisitions, will total approximately $2,500,000, excluding any amounts that may be due to Dune Energy, Inc. under the Dune Merger Agreement or a $4 million structuring fee that may be due to GEM. Errors may be made in predicting and reacting to relevant business trends and the Company will be subject to the risks, uncertainties and difficulties frequently encountered by early-stage companies. The Company may not be able to successfully address any or all of these risks and uncertainties. Failure to adequately do so could cause the Company's business, results of operations, and financial condition to suffer. As a result, management has concluded that there is substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that may result from the outcome of this uncertainty. The Company's ability to continue as a going concern is an issue due to its net losses and negative cash flows from operations, and its need for additional financing to fund future operations. The Company's ability to continue as a going concern is subject to its ability to obtain necessary funding from outside sources, including the sale of its securities or obtaining loans from investors or financial institutions. There can be no assurance that such funds, if available, can be obtained on terms reasonable to the Company. Any debt financing or other financing of securities senior to common stock that the Company is able to obtain will likely include financial and other covenants that will restrict the Company's flexibility. At a minimum, the Company expects these covenants to include restrictions on its ability to pay dividends on its common stock in the case of debt financing, or cause substantial dilution for stockholders in the case of convertible debt and equity financing. Any failure to comply with these covenants would have a material adverse effect on the Company's business, prospects, financial condition, results of operations and cash flows.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of our wholly owned and majority owned subsidiaries. Intercompany transactions and balances have been eliminated. Management evaluates its investments on an individual basis for purposes of determining whether or not consolidation is appropriate.
Basic and Diluted Earnings (loss) Per Share	Basic and Diluted Earnings (Loss) Per Share Earnings per share is calculated in accordance with the ASC 260-10, “Earnings Per Share.” December 31, 2016 2015 Options 5,750,000 1,325,000 Warrants 8,627,734 8,612,992 Convertible notes 2,000,000 2,000,000 Total 16,377,734 11,937,992
Management Estimates	Management Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates reflected in the consolidated financial statements include, but are not limited to, amortization and depletion allowances, the recoverability of the carrying amount and estimated useful lives of long-lived assets, asset retirement obligations, the valuation of equity instruments issued in connection with financing transactions and share-based compensation, and assumptions used in valuing derivative liabilities and net operating loss carryforwards. Changes in facts and circumstances may result in revised estimates. Actual results could differ from those estimates.
Full Cost Method of Accounting For Oil and Gas Properties	Full Cost Method of Accounting for Oil and Gas Properties The Company follows the full cost method of accounting for its oil and gas activities. Accordingly all costs associated with acquisition, exploration and development of oil and natural gas reserves, including leasehold acquisition costs, geological and geophysical expenditures, lease rentals on undeveloped properties and costs of drilling of productive and non-productive wells are capitalized into a full cost pool on a country-by-country basis. Capitalized costs of oil and gas properties, including the estimated future costs to develop proved reserves, are amortized on the unit-of-production method using estimates of proved reserves once proved reserves are determined to exist. Capitalized oil and gas property costs within a cost center are amortized on an equivalent unit-of-production method, The equivalent unit-of-production rate is computed on a quarterly basis by dividing production by proved oil and gas reserves at the beginning of the quarter then applying such amount to capitalized oil and gas property costs, which includes estimated asset retirement costs, less accumulated amortization, plus the estimated future expenditures (based on current costs) to be incurred in developing proved reserves, net of estimated salvage values. Average depreciation, depletion and amortization (“DD&A”) per barrel of oil equivalent was $16.48 and $13.86 for the years ended December 31, 2016 and 2015, respectively.
Full Cost Ceiling Test	Full Cost Ceiling Test Oil and gas properties without estimated proved reserves are not amortized until proved reserves associated with the properties can be determined or until impairment occurs. At the end of each reporting period, the unamortized costs of oil and gas properties are subject to a “ceiling test” which limits capitalized costs to the sum of the estimated future net revenues from proved reserves, discounted at 10% per annum to present value, based on current economic and operating conditions, adjusted for related income tax effects. If the net capitalized costs exceed the cost center ceiling, the excess is recognized as an impairment of oil and gas properties. An impairment recognized in one period may not be reversed in a subsequent period even if higher oil and gas prices increase the cost center ceiling applicable to the subsequent period. The estimated future net revenues used in the ceiling test are calculated using average quoted market prices for sales of oil and gas on the first calendar day of each month during the preceding 12-month period prior to the end of the current reporting period. Prices are held constant indefinitely and are not changed except where different prices are fixed and determinable from applicable contracts for the remaining term of those contracts. Prices used in the ceiling test computation do not include the impact of derivative instruments because the Company elected not to meet the criteria to qualify its derivative instruments for hedge accounting treatment. The Company assesses oil and gas properties at least annually to ascertain whether impairment has occurred. In assessing impairment, the Company considers factors such as historical experience and other data such as primary lease terms of the property, average holding periods of unproved property, and geographic and geologic data, and the availability of financing. The amount of impairment assessed is deducted from the costs to be amortized, and reported as a period expense when the impairment is recognized. Management has performed its impairment tests on its oil and gas properties as of December 31, 2016 and has concluded that a full impairment reserve should be provided on the costs capitalized for its oil and gas properties consisting solely of the Company’s Works Property oil and gas assets located in the Albion Consolidated Field, Edwards County, Illinois. Therefore, an impairment charge of $1,051,702 has been recorded for the year ended December 31, 2016, which reduced the carrying amount of oil and gas properties to zero as of December 31, 2016. The impairment was primarily related to property that the Company does not expect to develop. The Company recorded depletion expense of $10,709 and $58,764 for the years ended December 31, 2016 and 2015, respectively. Proceeds from the sale of oil and gas properties are recognized as a reduction of capitalized oil and gas property costs with no gain or loss recognized, unless the sale significantly alters the relationship between capitalized costs and proved reserves of oil and gas attributable to a cost center. Through December 31, 2016, the Company has not had any sales of oil and gas properties that significantly alter that relationship.
Asset Retirement Obligation	Asset Retirement Obligation The Company accounts for its future asset retirement obligations (“ARO”) by recording the fair value of the liability during the period in which it was incurred. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. The increase in carrying value of a property associated with the capitalization of an ARO is included in proven oil and gas properties in the balance sheets. The ARO consists of costs related to the plugging of wells, removal of facilities and equipment, and site restoration on its oil and gas properties. The asset retirement liability is accreted to operating expense over the useful life of the related asset. As of December 31, 2016 and 2015, the Company had an ARO of $101,764 and $92,512, respectively.
Oil and Gas Revenue	Oil and Gas Revenue Revenues are recognized when hydrocarbons have been delivered, the customer has taken title and collection is reasonably assured.
Share-based Compensation, Option and Incentive Plans Policy	Share-Based Compensation The Company periodically issues stock options and warrants to employees and non-employees in capital raising transactions, for services and for financing costs. The Company accounts for share-based payments under the guidance as set forth in the Share-Based Payment Topic of the FASB Accounting Standards Codification, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees, officers, directors, and consultants, including employee stock options, based on estimated fair values. The Company estimates the fair value of share-based payment awards to employees and directors on the date of grant using an option-pricing model, and the value of the portion of the award that is ultimately expected to vest is recognized as expense over the required service period in the Company's Statements of Operations. The Company accounts for stock option and warrant grants issued and vesting to non-employees in accordance with the authoritative guidance where the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) the date at which the necessary performance to earn the equity instruments is complete. Stock-based compensation is based on awards ultimately expected to vest and is reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, as necessary, in subsequent periods if actual forfeitures differ from those estimates .
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with FASB ASC Topic 740, “Income Taxes.” Under ASC Topic 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is more than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded.
Fair Value Measurement	Fair Value Measurements The Company applies the provisions of ASC 820-10, Fair Value Measurements and Disclosures. · Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. · Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. · Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. For certain financial instruments, the carrying amounts reported in the consolidated balance sheets for cash and cash equivalents and current liabilities, including notes payable and convertible notes, each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The Company uses Level 2 inputs for its valuation methodology for the warrant derivative liabilities as their fair values were determined by using a weighted average Black-Scholes-Merton pricing model based on various assumptions. The Company’s derivative liabilities are adjusted to reflect fair value at each period end, with any increase or decrease in the fair value being recorded in results of operations as adjustments to fair value of derivatives. As such, the fair value of the derivative liabilities of $469,267 and $6,381,553 at December 31, 2016 and 2015, respectively, were valued using Level 2 inputs. The Company did not identify any other non-recurring assets and liabilities that are required to be presented in the consolidated balance sheets at fair value in accordance with ASC 815.
Concentrations	Concentrations The future results of the Company’s oil and natural gas operations will be affected by the market prices of oil and natural gas. The availability of a ready market for oil and natural gas products in the future will depend on numerous factors beyond the control of the Company, including weather, imports, marketing of competitive fuels, proximity and capacity of oil and natural gas pipelines and other transportation facilities, any oversupply or undersupply of oil, natural gas and liquid products, the regulatory environment, the economic environment, and other regional and political events, none of which can be predicted with certainty. One customer accounts for 100% of oil sales for the years ended December 31, 2016 and 2015. The Company’s oil and gas properties are located in Illinois.
Derivative Financial Instruments	Derivative Financial Instruments The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The Company uses a probability weighted average Black-Scholes-Merton model to value the derivative instruments. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. Under ASU 2014-09, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The FASB has recently issued ASU 2016-08, ASU 2016-10, ASU 2016-11, ASU 2016-12, and ASU 2016-20 all of which clarify certain implementation guidance within ASU 2014-09. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted only in annual reporting periods beginning after December 15, 2016, including interim periods therein. The standard can be adopted either retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). The Company is currently in the process of analyzing the information necessary to determine the impact of adopting this new guidance on its financial position, results of operations, and cash flows. The Company will adopt the provisions of this statement in the first quarter of fiscal 2018. In February 2016, the FASB issued ASU No. 2016-02, Leases. ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest period presented in the financial statements. The Company is currently evaluating the expected impact that the standard could have on its financial statements and related disclosures. In March 2016, the FASB issued the ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments in this ASU require, among other things, that all income tax effects of awards be recognized in the income statement when the awards vest or are settled. The ASU also allows for an employer to repurchase more of an employee's shares than it can today for tax withholding purposes without triggering liability accounting and allows for a policy election to account for forfeitures as they occur. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted for any entity in any interim or annual period. The Company is currently evaluating the expected impact that the standard could have on its financial statements and related disclosures. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies: Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive shares were excluded from the shares used to calculate diluted earnings per share as their inclusion would be anti-dilutive. December 31, 2016 2015 Options 5,750,000 1,325,000 Warrants 8,627,734 8,612,992 Convertible notes 2,000,000 2,000,000 Total 16,377,734 11,937,992

Note 3 - LowCal Convertible a24

Note 3 - LowCal Convertible and Promissory Notes Payable - In Default: Summary of Convertible Promissory Notes (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Summary of Convertible Promissory Notes	LowCal convertible and promissory notes payable at December 31, 2016 and 2015 are as follows: December 31, 2016 2015 LowCal Convertible Note $ 5,000,000 $ 5,000,000 LowCal Promissory Note 3,250,000 3,250,000 Total $ 8,250,000 $ 8,250,000

Note 4 - Notes Payable_ Schedul

Note 4 - Notes Payable: Schedule of Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Notes Payable	Notes payable at December 31, 2016 and 2015 are as follows: December 31, 2016 2015 Secured note payable, at 18% (1) $ 300,000 $ 600,000 Note payable at 4% to 10%, (2) 728,000 453,000 Note payable, at 2%, (3) 100,000 100,000 Note payable at 10%, (4) - 150,000 Note payable at 4% to 5% (5) 100,000 30,000 Note payable at 10%, (6) - 50,000 Note payable at 10%, (7) 100,000 - Note payable at 10%, (8) 200,000 - Note payable at 2%, (9) 500,000 - Note payable at 2%, (10) 40,000 - Total notes payable 2,068,000 1,383,000 Debt discount (45,916) - $ 2,022,084 $ 1,383,000

Note 6 - Asset Retirement Obl26

Note 6 - Asset Retirement Obligation: Schedule of Change in Asset Retirement Obligation (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Change in Asset Retirement Obligation	Changes in the Company’s asset retirement obligations were as follows: Years Ended December 31, 2016 2015 Asset retirement obligation, beginning of period $ 92,512 $ 84,102 Additions - - Accretion expense 9,252 8,410 Asset retirement obligations, end of period $ 101,764 $ 92,512

Note 7 - Derivative Liabiliti27

Note 7 - Derivative Liabilities: Schedule of Warrant Valuation Assumptions (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Warrant Valuation Assumptions	As of December 31, 2016, November 1, 2016, July 2, 2016, and December 31, 2015, the derivative liabilities were valued using a probability weighted average Black-Scholes-Merton pricing model with the following assumptions: December 31, Upon Issuance Upon Extinguishment December 31, 2016 November 1, 2016 July 2, 2016 2015 Exercise Price $ 0.10 0.10 $ 1.00 $ 2.00 Stock Price $ 1.00 1.00 $ 1.00 $ 4.00 Risk-free interest rate 0.80% 0.80% 0.59% 1.06% Expected life of the options (Years) 2.84 3.00 2.14 2.64 Expected volatility 133% 133% 169% 180% Expected dividend yield 0% 0% 0% 0% Expected forfeitures 0% 0% 0% 0% Fair Value $ 469,267 $ 471,459 $ 1,389,628 $ 6,381,553

Note 10 - Stock Options and W28

Note 10 - Stock Options and Warrants: Schedule of Stock Options, Activity (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Stock Options, Activity	A summary of option activity is presented below: Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price ($) Life (in years) Value ($) Outstanding, December 31, 2014 1,300,000 2.50 3.81 Granted 25,000 2.50 Exercised - Forfeited/Canceled - Outstanding, December 31, 2015 1,325,000 2.50 3.08 2,186,250 Granted 4,500,000 1.00 Exercised - Forfeited/Canceled (75,000) 2.50 Outstanding, December 31, 2016 5,750,000 1.33 3.63 - Exercisable, December 31, 2016 2,750,000 1.68 3.19 -

Note 10 - Stock Options and W29

Note 10 - Stock Options and Warrants: Schedule of Options Exercisable and Outstanding (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Options Exercisable and Outstanding	The following table summarizes information about options outstanding at December 31, 2016: Options Outstanding Weighted Weighted Average Average Exercise Number of Remaining Exercise Price ($) Shares Life (Years) Price ($) 1.00 4,500,000 4.03 1.00 2.50 1,250,000 2.17 2.50

Note 10 - Stock Options and W30

Note 10 - Stock Options and Warrants: Schedule of Valuation Assumptions used for Options Granted (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Valuation Assumptions used for Options Granted	The assumptions used in calculating the fair value of options granted using the Black-Scholes option- pricing model for options granted during the years ended December 31, 2016 and 2015 are as follows: 2016 2015 Risk-free interest rate 1.58% 1.10% Expected life of the options (Years) 5.00 1.22 Expected volatility 179% 182% Expected dividend yield 0% 0% Expected forfeitures 0% 0%

Note 10 - Stock Options and W31

Note 10 - Stock Options and Warrants: Schedule of Warrants, Activity (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Warrants, Activity	Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Warrants Price ($) Life (in years) Value ($) Outstanding, December 31, 2014 14,577,992 4.69 1.96 Granted 2,125,000 2.39 Exercised - Forfeited/Canceled (8,090,000) 4.21 Outstanding, December 31, 2015 8,612,992 3.25 2.66 11,237,988 Granted 1,317,742 1.10 Exercised - Forfeited/Canceled (1,303,000) 3.00 Outstanding, December 31, 2016 8,627,734 2.75 2.26 450,000 Exercisable, December 31, 2016 8,627,734 2.75 2.26 450,000

Note 10 - Stock Options and W32

Note 10 - Stock Options and Warrants: Schedule of Exerciseable and Outstanding Warrants (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Exerciseable and Outstanding Warrants	The following tables summarize information about warrants outstanding and exercisable at September 30, 2016: Warrants Outstanding and Exercisable Weighted Weighted Average Average Exercise Number of Remaining Exercise Price ($) Shares Life (Years) Price ($) 1.00 2,175,000 2.09 1.00 2.00 1,100,000 3.05 2.00 2.50 3,207,734 2.86 2.50 3.00 1,353,000 0.24 3.00 4.00 75,000 1.84 4.00 6.00 20,000 0.58 6.00 7.15 1,500,000 1.78 7.15 9,430,734

Note 11 - Commitments and Con33

Note 11 - Commitments and Contingencies: Schedule of Future Minimum Lease Payments (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Future Minimum Lease Payments	The minimum lease payments are as follows: Year Amount 2017 $ 218,010 2018 229,061 2019 235,933 2020 243,028 2021 250,324 Thereafter 192,741 $ 1,369,097

Note 12 - Income Taxes_ Schedul

Note 12 - Income Taxes: Schedule of Deferred Tax Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Deferred Tax Assets	Deferred tax assets of the Company at December 31, 2016 and 2015 are as follows: 2016 2015 Deferred tax assets: Net operating loss carryforwards $ 6,184,204 $ 3,802,383 Deferred compensation 169,696 55,172 Accrued expenses 4,280,687 4,172,035 Stock based compensation 181,247 181,247 Valuation allowance (10,815,834) (8,210,837) Net deferred tax asset $ - $ -

Note 12 - Income Taxes_ Sched35

Note 12 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes for the years ended December 31, were as follows: 2016 2015 Statutory federal income tax rate (34) % (34) % State income taxes, net of federal taxes (6) % (6) % Non-includable items 24 % 17 % Increase in valuation allowance 16 % 23 % Effective income tax rate - -

Note 14 - Supplemental Inform36

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited): Exploration (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Costs Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities	Costs incurred in oil and gas property acquisition, exploration and development activities are summarized below: Years Ended December 31, December 31, 2016 2015 Unproved property acquisition costs $ - $ - Exploration costs - - Development costs - - Asset retirement obligation 9,251 8,410 Total cost incurred $ 9,251 $ 8,410

Note 14 - Supplemental Inform37

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited): Reserve Quantities (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities	The following table shows the estimated proved developed reserves and the proved undeveloped reserves: Estimated Quantities of Proved Reserves December 31, December 31, 2016 2015 Oil Oil (bbls) (bbls) Balance, beginning of the year 209,506 234,222 Purchases of reserves in place - - Revision of previous estimates (208,295) (19,869) Production (1,211) (4,847) Net change - 209,506

Note 14 - Supplemental Inform38

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited): Undeveloped Reserves (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Estimated Proved Developed and Undeveloped Reserves	The following table reflects the changes in estimated quantities of proved reserves: Estimated Quantities of Proved Reserves December 31, December 31, 2016 2015 Oil Oil (bbls) (bbls) Proved developed reserves: - 36,914 Proved undeveloped reserves: - 172,592 Total proved reserves - 209,506

Note 14 - Supplemental Inform39

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited): Net Cash Flows (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows	Standardized Measure of Oil and Gas December 31, December 31, 2016 2015 Future cash inflows $ 409,464 $ 9,069,498 Future production and development costs (409,464) (3,608,652) Future income taxes - - Future net cash flows - 5,460,846 Discount of future net cash flows at 10% per annum - (2,688,176) Standardized measure of discounted future net cash flows $ - $ 2,772,670

Note 14 - Supplemental Inform40

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited): Gas Reserves (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Standardized Measure of Discounted Future Cash Flows Relating to Proved Oil and Gas Reserves	The following table sets forth the changes in standardized measure of discounted future net cash flows relating to prove oil and gas reserves for the periods indicated. Changes in Standardized Measure December 31, December 31, 2016 2015 Beginning of the year $ 2,772,670 $ 8,204,964 Sales of oil and gas produced, net of production costs 19,435 (59,959) Purchases of minerals in place - - Revision of previous quantity estimates (2,792,105) (5,372,335) Net change $ - $ 2,772,670

Note 1 - Organization And Sum41

Note 1 - Organization And Summary of Significant Accounting Policies: Organization and Business (Detail) - Plethora Bay Oil & Gas Ltd	Dec. 31, 2016
Noncontrolling Interest, Ownership Percentage by Parent	90.00%
EOS Atlantic Oil and Gas
Noncontrolling Interest, Ownership Percentage by Parent	10.00%

Note 1 - Organization And Sum42

Note 1 - Organization And Summary of Significant Accounting Policies: Going Concern (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Total stockholders' deficit	$ (23,454,696)	$ (28,087,526)	$ (20,534,456)
Net loss	(20,021,458)	(35,453,024)
Net cash used in operating activities	(818,141)	$ (1,420,003)
Works Property
Future Estimated Capital Requirements	$ 2,500,000

Note 1 - Organization And Sum43

Note 1 - Organization And Summary of Significant Accounting Policies: Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	16,377,734	11,937,992
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,750,000	1,325,000
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8,627,734	8,612,992
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,000,000	2,000,000

Note 1 - Organization And Sum44

Note 1 - Organization And Summary Of Significant Accounting Policies: Oil and Gas Properties (Details) - $ / bbl	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Text Block [Abstract]
Average Depreciation, Depletion, and Amortization per BOE	16.48	13.86

Note 1 - Organization And Sum45

Note 1 - Organization And Summary of Significant Accounting Policies: Full Cost Ceiling Test (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Depletion	$ 10,709	$ 58,764
Impairment charge	$ 1,051,702	$ 0
Oil and Gas Properties
Percent of discount for estimating proven oil and gas reserves	10.00%

Note 1 - Organization And Sum46

Note 1 - Organization And Summary of Significant Accounting Policies: Asset Retirement Obligation (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Text Block [Abstract]
Asset Retirement Obligation, Current	$ 101,764	$ 92,512

Note 1 - Organization And Sum47

Note 1 - Organization And Summary of Significant Accounting Policies: Fair Value Measurements (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Disclosure Text Block [Abstract]
Derivative liabilities	$ 469,267	$ 6,381,553

Note 1 - Organization And Sum48

Note 1 - Organization And Summary of Significant Accounting Policies: Concentrations (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Sales | Customer Concentration Risk
Concentration Risk, Percentage	100.00%	100.00%

Note 2 - Acquisition Deposit (D

Note 2 - Acquisition Deposit (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
Notes to Financial Statements
Non-refundable deposit	$ 155,000
Expiration period	Sep. 30, 2016

Note 3 - Lowcal Convertible A50

Note 3 - Lowcal Convertible And Promissory Notes Payable - In Default Summary of Convertible Promissory Notes (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Convertible Debt, Current	$ 8,250,000	$ 8,250,000
LowCal Convertible Note
Convertible Debt, Current	5,000,000	5,000,000
LowCal Promissory Note
Convertible Debt, Current	$ 3,250,000	$ 3,250,000

Note 3 - Lowcal Convertible A51

Note 3 - Lowcal Convertible And Promissory Notes Payable - In Default (Details) - USD ($)	Aug. 14, 2015	Mar. 31, 2016	Mar. 31, 2015	Sep. 30, 2013	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Aug. 31, 2014	Feb. 08, 2013
Debt Instrument, Face Amount						$ 1,208,160
Proceeds from issuance of notes payable					$ 986,810	$ 330,000
Loan extension terms		the parties agreed that if: (1) the Company pays off the $3,250,000 principal balance of the Second LowCal Note in full, plus any accrued and unpaid interest, and (2) either: (A) the Company closes a transaction where it acquires at least $10,000,000 in additional assets, through an asset purchase, stock purchase, merger, or other similar transaction, which shall be determined by generally accepted accounting principles, or (B) the Company successfully uplists its common stock to a national exchange market (NASDAQ or the New York Stock Exchange), then the following will automatically occur: (1) the conversion price of the LowCal Loan will be reduced from $2.50 per share to $2.00 per share, and (2) any outstanding principal and interest due on the LowCal Loan will be converted at a price of $2.00 per share into restricted shares of the Company's common stock, which shall be issued to LowCal.
Issuance of common stock in connection with amendment of note agreement, Value					300,000
Value of warrants issued with note payable					186,290
Fair value of warrant					$ 471,459
Warrants
Warrants, Outstanding								1,775,000
LowCal Loan
Proceeds from Convertible Debt				$ 4,980,000
Debt Instrument, Face Amount	$ 500,000								$ 500,000
Debt Instrument, Interest Rate, Stated Percentage									10.00%
Forgiveness of Accrued Interest			$ 667,000
Debt Instrument, Maturity Date	Jan. 1, 2019				May 1, 2016
Investment Warrants Expiration Date		May 1, 2020
Issuance of stock for extension of notes payable, Shares			75,000
Issuance of common stock in connection with amendment of note agreement, Shares					75,000
Issuance of common stock in connection with amendment of note agreement, Value					$ 300,000
Value of warrants issued with note payable					$ 188,378
Warrants, Outstanding					1,000,000
Cost related to expiration date	$ 275,560
Exercise price	$ 2
Fair value of warrant	$ 1,936,558
Common stock issued connection with warrants	500,000
LowCal Loan | Warrants
Fair Value Measurements, Valuation Techniques	Black-Scholes option- pricing model				Black-Scholes option- pricing model
Expected Life (years)	1 year 2 months 19 days
Expected Volatility	182.00%				174.00%
Expected dividend yield	0.00%				0.00%
Risk-free interest rate	1.10%				1.16%
LowCal Loan 2
Proceeds from issuance of notes payable							$ 750,000
Debt Instrument, Payment Terms					The Second LowCal Note must also be repaid upon the earlier to occur of: (i) the Company closing certain potential acquisition transactions, or (ii) the Company closing a financing for a minimum of $20,000,000.
Minimum | LowCal Loan | Warrants
Expected Life (years)					2 years 9 months 22 days
Maximum | LowCal Loan | Warrants
Expected Life (years)					4 years 1 month 21 days

Note 4 - Notes Payable_ Sched52

Note 4 - Notes Payable: Schedule of Notes Payable (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Total notes payable	$ 2,068,000	$ 1,383,000
Debt Discount	(45,916)	0
Note Payable Net	2,022,084	1,383,000
Note Payable 1
Total notes payable	300,000	600,000
Note Payable 2
Total notes payable	728,000	453,000
Note Payable 3
Total notes payable	100,000	100,000
Note Payable 4
Total notes payable	0	150,000
Note Payable 5
Total notes payable	100,000	30,000
Note Payable 6
Total notes payable	0	50,000
Note Payable 7
Total notes payable	100,000	0
Note Payable 8
Total notes payable	200,000	0
Note Payable 9
Total notes payable	500,000	0
Note Payable 10
Total notes payable	$ 40,000	$ 0

Note 4 - Notes Payable (Details

Note 4 - Notes Payable (Details) - USD ($)

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Nov. 01, 2016

Aug. 10, 2016

Jul. 02, 2016

Jun. 27, 2016

May 19, 2016

Feb. 18, 2016

Jan. 20, 2016

Dec. 14, 2015

Apr. 15, 2015

Dec. 31, 2014

Oct. 09, 2014

Feb. 16, 2012

Debt Instrument, Face Amount

$ 1,208,160

Issuance of common stock for debt extension, Shares

75,000

Issuance of common stock for debt extension, Value

$ 311,250

Fair value of stock issued for debt extension

$ 1,250,000

311,250

Note Payable, discount

45,916

0

Exercise price

$ 1

Amortization of debt discounts

$ 497,387

0

Debt, Weighted Average Interest Rate

8.40%

Notes Payable Current

$ 2,022,084

1,383,000

Amortization of interest expenses

182,387

Financing Cost

456,459

Fair value of warrant

471,459

Offering price warrant

$ 1,000,000

Note Payable 1

Debt Instrument, Face Amount

$ 600,000

Debt Instrument, Interest Rate, Stated Percentage

18.00%

Debt Instrument, Maturity Date

Jan. 15, 2017

Debt Instrument Shares Equity Incentive

275,000

Debt instrument shares, equity incentive

$ 1,100,000

Note Payable 3

Debt Instrument, Face Amount

$ 200,000

Debt Instrument, Interest Rate, Stated Percentage

2.00%

Debt Instrument, Maturity Date

Apr. 30, 2016

Debt instrument shares, equity incentive

$ 150,000

Debt Instrument, Fee Amount

$ 30,000

Issuance of stock for extension of notes payable, Shares

40,000

Note Payable 4

Debt Instrument, Face Amount

$ 150,000

Debt Instrument, Interest Rate, Stated Percentage

10.00%

Debt Instrument, Maturity Date

Jul. 1, 2016

Note Payable 5

Debt Instrument, Face Amount

$ 30,000

Debt Instrument, Interest Rate, Stated Percentage

4.00%

Debt Instrument, Maturity Date

Jan. 1, 2017

Note Payable 7

Debt Instrument, Face Amount

$ 120,000

Debt Instrument, Interest Rate, Stated Percentage

10.00%

Repayments of Debt

$ 20,000

Note Payable 8

Debt Instrument, Face Amount

$ 200,000

Debt Instrument, Interest Rate, Stated Percentage

10.00%

Debt Instrument, Maturity Date

Jul. 30, 2017

Stock Issued During Period, Shares, Other

300,000

Stock Issued During Period, Value, Other

$ 300,000

Note Payable 8 | Amortized

Unamortized valuation discount

$ 200,000

Note Payable 8 | Warrants

Class of Warrant or Right, Unissued

200,000

Exercise price

$ 1

Fair Value Measurements, Valuation Techniques

Black-Scholes option- pricing model

Expected Life (years)

3 years

Expected Volatility

174.00%

Expected dividend yield

0.00%

Risk-free interest rate

0.71%

Warrants and Rights Outstanding

$ 92,987

Note Payable 8 | Common Stock

Stock Issued During Period, Value, Other

$ 300,000

Note Payable 9

Debt Instrument, Face Amount

$ 500,000

Debt Instrument, Interest Rate, Stated Percentage

2.00%

Debt Instrument, Maturity Date

Jun. 5, 2017

Stock Issued During Period, Shares, Other

150,000

Stock Issued During Period, Value, Other

$ 135,000

Note Payable 9 | Amortized

Unamortized valuation discount

228,303

Note Payable 9 | Common Stock

Stock Issued During Period, Value, Other

$ 135,000

Note Payable 9 | Warrants

Class of Warrant or Right, Unissued

150,000

Exercise price

$ 1

Fair Value Measurements, Valuation Techniques

Black-Scholes option- pricing model

Expected Life (years)

3 years

Expected Volatility

169.00%

Expected dividend yield

0.00%

Risk-free interest rate

0.80%

Warrants and Rights Outstanding

$ 93,303

Note Payable 10

Debt Instrument, Face Amount

$ 40,000

$ 37,500

Debt Instrument, Interest Rate, Stated Percentage

1.00%

Debt Instrument, Maturity Date

Nov. 30, 2016

Note Payable 10 | Common Stock

Issuance of common stock for debt extension, Shares

750,000

Issuance of common stock for debt extension, Value

$ 870,000

Note Payable 10 | Warrants

Fair Value Measurements, Valuation Techniques

Black-Scholes option- pricing model

Expected Life (years)

3 years

Expected Volatility

135.00%

Expected dividend yield

0.00%

Risk-free interest rate

0.80%

Note Payable

Amortization of debt discounts

$ 290,841

Note Payable | Original

Unamortized valuation discount

496,459

Amortization of interest expenses

40,000

Note Payable | Common Stock

Financial Services Costs

192,987

Note Payable 2

Long-term Debt, Gross

728,000

Plethora Enterprises, LLC | Note Payable 8

Repayments of Debt

$ 20,000

Stock Issued During Period, Shares, New Issues

250,000

Stock Issued During Period, Value, New Issues

$ 290,000

Fair value of stock issued for debt extension

75,000

Financial Services Costs

$ 1,085,000

Plethora Enterprises, LLC | Note Payable

Debt Instrument, Interest Rate, Stated Percentage

10.00%

Debt Instrument, Maturity Date

Jul. 1, 2016

Tranche 1 | Note Payable 6

Debt Instrument, Face Amount

$ 50,000

Debt Instrument, Interest Rate, Stated Percentage

10.00%

Debt Instrument, Maturity Date

Jul. 1, 2016

Tranche 1 | Note Payable 2

Debt Instrument, Face Amount

$ 323,000

Debt Instrument, Interest Rate, Stated Percentage

4.00%

Notes Payable Current

$ 453,000

Tranche 2 | Note Payable 6

Debt Instrument, Face Amount

$ 50,000

Debt Instrument, Interest Rate, Stated Percentage

10.00%

Debt Instrument, Maturity Date

Jul. 1, 2016

Repayments of Debt

$ 100,000

Tranche 2 | Note Payable 7

Debt Instrument, Maturity Date

Jul. 1, 2016

Tranche 2 | Note Payable 2

Debt Instrument, Face Amount

$ 130,000

Debt Instrument, Interest Rate, Stated Percentage

10.00%

Tranche 3 | Note Payable 2

Debt Instrument, Face Amount

$ 275,000

Note 5 - Notes Payable, Relat54

Note 5 - Notes Payable, Related Party (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Nov. 01, 2016	May 19, 2016
Debt Instrument, Face Amount		$ 1,208,160
Due from note payable	$ 1,287,886
Accrued interest	$ 110,095
Conversion of common Stock	1,397,981
Notes payable, related party	$ 0
Note Payable 10
Debt Instrument, Interest Rate, Stated Percentage				1.00%
Debt Instrument, Maturity Date	Nov. 30, 2016
Debt Instrument, Face Amount			$ 40,000	$ 37,500
Plethora Enterprises, LLC | Note Payable
Debt Instrument, Interest Rate, Stated Percentage	10.00%
Debt Instrument, Maturity Date	Jul. 1, 2016
Private sale of stock by related party, shares	351,515	4,580,000
Private sale of stock by related party, proceeds	125,000	1,520,000
Loan from related party	$ 870,000
Common stock sale to related Party	251,515	2,160,000
Allocated Share-based Compensation Expense	$ 931,060	$ 6,293,200

Note 6 - Asset Retirement Obl55

Note 6 - Asset Retirement Obligation: Schedule of Change in Asset Retirement Obligation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Text Block [Abstract]
Asset retirement obligation, beginning of period	$ 92,512	$ 84,102
Additions	0	0
Accretion expense	9,252	8,410
Asset retirement obligations, end of period	$ 101,764	$ 92,512

Note 7 - Derivative Liabiliti56

Note 7 - Derivative Liabilities (Details) - USD ($)	Jul. 02, 2016	Dec. 31, 2016	Dec. 31, 2015	Aug. 31, 2014
Change in fair value of derivative liabilities		$ 4,994,117	$ 4,657,999
Exercise price of warrants	$ 1
Fair value of warrants reclassified to additional paid-in capital	$ 1,389,628	$ 188,378
Warrants
Warrants, Outstanding				1,775,000

Note 7 - Derivative Liabiliti57

Note 7 - Derivative Liabilities: Schedule of Warrant Valuation Assumptions (Details) - USD ($)	6 Months Ended	10 Months Ended	12 Months Ended
	Jul. 02, 2016	Nov. 01, 2016	Dec. 31, 2016	Dec. 31, 2015
Expected forfeitures			0.00%	0.00%
Derivative Liabilities
Fair Value Measurements, Valuation Techniques			Black-Scholes-Merton pricing model
Exercise Price	$ 1	$ 0.1	$ 0.1	$ 2
Stock Price	$ 1	$ 1	$ 1	$ 4
Risk-free interest rate	0.59%	0.80%	0.80%	1.06%
Expected Life (years)	2 years 1 month 21 days	3 years	2 years 10 months 2 days	2 years 7 months 21 days
Expected Volatility	169.00%	133.00%	133.00%	180.00%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Expected forfeitures	0.00%	0.00%	0.00%	0.00%
Fair Value	$ 1,389,628	$ 471,459	$ 469,267	$ 6,381,553

Note 8 - Related Party Transa58

Note 8 - Related Party Transactions (Details) - Plethora Enterprises, LLC - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Compensation expense	$ 360,000	$ 360,000
Due to Related Parties, Current	$ 363,601	$ 180,000

Note 9 - Stockholders' Deficit

Note 9 - Stockholders' Deficit (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Issuance of common stock for debt extension, Shares		75,000
Issuance of common stock for debt extension, Value		$ 311,250
Issuance of common stock in connection with amendment of note agreement, Value	$ 300,000
Issuance of common stock in connection with notes payable, Value	1,330,000
Notes Payable
Debt Conversion, Original Debt, Amount	480,000
Notes Payable Related Party M
Debt Conversion, Original Debt, Amount	1,287,886
Accrued Interest
Debt Conversion, Original Debt, Amount	584,760
AccruedExpenses
Debt Conversion, Original Debt, Amount	$ 166,000
Common Stock
Issuance of common stock in connection with amendment of note agreement, Shares	75,000
Issuance of common stock in connection with amendment of note agreement, Value	$ 7
Issuance of common stock in connection with notes payable, Shares	1,225,000
Issuance of common stock in connection with notes payable, Value	$ 122
Debt Conversion, Converted Instrument, Shares Issued	2,518,646
Consultant
Issuance of common stock for services, Shares	400,000	14,000
Issuance of common stock for services, Value	$ 465,000	$ 62,659

Note 10 - Stock Options and W60

Note 10 - Stock Options and Warrants: Schedule of Stock Options, Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Text Block [Abstract]
Options, Outstanding, Beginning Balance	1,325,000	1,300,000
Options, Outstanding, Beginning Balance, Weighted Average Exercise Price	$ 2.50	$ 2.50
Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 7 months 17 days	3 years 29 days	3 years 9 months 22 days
Options, Outstanding Intrinsic Value, Beginning Balance	$ 2,186,250
Options, Granted	4,500,000	25,000
Options, Granted, Weighted Average Exercise Price	$ 1	$ 2.50
Options, Exercised	0	0
Options, Forfeited/Canceled	(75,000)	0
Options, Forfeited/Canceled, Weighted Average Exercise Price	$ 2.50
Options, Outstanding, Ending Balance	5,750,000	1,325,000	1,300,000
Options, Outstanding, Ending Balance, Weighted Average Exercise Price	$ 1.33	$ 2.50	$ 2.50
Options, Outstanding Intrinsic Value, Ending Balance	$ 0	$ 2,186,250
Options, Exercisable	2,750,000
Options, Exercisable Weighted Average Exercise Price	$ 1.68
Options, Exercisable Weighted Average Remaining Contractual Term	3 years 2 months 9 days
Options, Exercisable, Intrinsic Value	$ 0

Note 10 - Stock Options and W61

Note 10 - Stock Options and Warrants: Schedule of Options Exercisable and Outstanding (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Intrinsic value of outstanding and exercisable stock options	$ 0	$ 2,186,250
Outstanding, Number of Shares	5,750,000	1,325,000	1,300,000
Outstanding, Weighted Average Remaining Life (Years)	3 years 7 months 17 days	3 years 29 days	3 years 9 months 22 days
Outstanding, Weighted Average Exercise Price	$ 1.33	$ 2.50	$ 2.50
1
Outstanding, Number of Shares	4,500,000
Outstanding, Weighted Average Remaining Life (Years)	4 years 11 days
Outstanding, Weighted Average Exercise Price	$ 1
2.50
Outstanding, Number of Shares	1,250,000
Outstanding, Weighted Average Remaining Life (Years)	2 years 2 months 1 day
Outstanding, Weighted Average Exercise Price	$ 2.50

Note 10 - Stock Options and W62

Note 10 - Stock Options and Warrants (Details) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Jun. 30, 2014	Mar. 31, 2016	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jul. 02, 2016
Options, Grants in Period, Weighted Average Grant Date Fair Value						$ 3.23
Exercise Price of Warrants								$ 1
Non-cash finance costs				$ 456,459
Stock based compensation of options granted but not vested				$ 3,180,213
Warrants, Granted				1,317,742	2,125,000
Warrants issued with notes payable, Shares				850,000
Warrants issued with notes payable, Value				$ 740,000
BA Securities
Exercise Price of Warrants			$ 4
Warrants and Rights Outstanding			$ 500,000
Warrants
Equity Instruments, Fair Value					$ 3,212,283
Warrants | BA Securities
Equity Instruments, Fair Value			$ 6,404,466
Warrants | Other Consultants
Equity Instruments, Granted				125,000		350,000
Fair Value Assumptions, Method Used				Black-Scholes option pricing model		Black-Scholes option pricing model
Expected dividend yield				0.00%		0.00%
Risk-free interest rate						0.85%
Equity Instruments, Fair Value				$ 577,897		$ 1,401,733
Warrants | BAS and Agents
Exercise Price of Warrants				$ 2.50
Fair Value Assumptions, Method Used				Black-Scholes model
Expected volatility				182.00%
Expected dividend yield				0.00%
Risk-free interest rate				1.10%
Equity Instruments, Fair Value				$ 7,307,825
Warrants | Gem Global Yield Fund
Equity Instruments, Granted							8,372,000
Fair Value Assumptions, Method Used							Black-Scholes option pricing model
Warrants | Consultants
Equity Instruments, Fair Value				$ 150,223	80,521
Warrants | Consultant
Fair Value Assumptions, Method Used						Black-Scholes option pricing model
Expected dividend yield						0.00%
Warrants, Granted						467,742
Maximum | Warrants | Other Consultants
Expected life of the options (Years)				5 years
Expected volatility				182.00%
Risk-free interest rate				1.10%
Maximum | Warrants | Consultants
Expected life of the options (Years)						5 years
Expected volatility						176.00%
Risk-free interest rate						1.39%
Equity Instruments, Fair Value						$ 1,164,738
Minimum | Warrants | Other Consultants
Expected life of the options (Years)				3 years
Expected volatility				179.00%
Risk-free interest rate				1.01%
Minimum | Warrants | Consultants
Expected life of the options (Years)						3 years
Expected volatility						171.00%
Risk-free interest rate						1.21%
Tranche 2 | Warrants | BAS and Agents
Equity Instruments, Granted				600,000
Exercise Price of Warrants				$ 2.50
Equity Instruments, Fair Value				$ 121,339
GEM Additional Warrants | Gem Global Yield Fund
Non-cash finance costs					$ 13,415,380
Employee Stock Option
Options, Grants in Period, Weighted Average Grant Date Fair Value				$ 3.92	$ 3.93
Share Based Compensation Expense				$ 14,446,834	$ 4,673,412	$ 967,954
Nonvested Awards, Unamortized Compensation Cost				$ 0
Fair Value Assumptions, Method Used				Black-Scholes option- pricing model
Expected life of the options (Years)				1 year 2 months 19 days	4 years 11 months 12 days	3 years
Expected volatility				182.00%	220.00%	214.00%
Expected dividend yield				0.00%	0.00%	0.00%
Employee Stock Option | Chief Executive Officer
Shares Issued	600,000		600,000
Exercise Price	$ 2.50		$ 2.50
Deferred Compensation Arrangement with Individual, Maximum Contractual Term	5 years		5 years
Fair Value of Shares Issued	$ 1,935,908		$ 8,951,004
Employee Stock Option | Sudhir Vasudeva
Exercise Price		$ 2.50
Fair Value of Shares Issued		$ 98,226
Employee Stock Option | Director
Exercise Price		$ 2.50
Fair Value of Shares Issued		$ 99,684

Note 10 - Stock Options and W63

Note 10 - Stock Options and Warrants: Schedule of Valuation Assumptions used for Options Granted (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Expected forfeitures	0.00%	0.00%
Employee Stock Option
Fair Value Assumptions, Method Used	Black-Scholes option- pricing model
Risk-free interest rate	1.58%	1.10%
Expected life of the options (Years)	1 year 2 months 19 days	4 years 11 months 12 days	3 years
Expected volatility	182.00%	220.00%	214.00%
Expected dividend yield	0.00%	0.00%	0.00%

Note 10 - Stock Options and W64

Note 10 - Stock Options and Warrants: Schedule of Warrants, Activity (Details)	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014$ / sharesshares
Text Block [Abstract]
Warrants, Outstanding, Beginning Balance | shares	8,612,992	14,577,992
Warrants, Outstanding, Beginning Balance, Weighted Average Exercise Price | $ / shares	$ 3.25	$ 4.69
Warrants, Weighted Average Remaining Contractual Life	2 years 1 month 24 days	2 years 7 months 28 days	1 year 11 months 16 days
Warrants, Outstanding Intrinsic Value, Beginning Balance | $	$ 11,237,988
Warrants, Granted | shares	1,317,742	2,125,000
Warrants, Granted Weighted Average Exercise Price | $ / shares	$ 1.10	$ 2.39
Warrants Exercised | shares	0	0
Warrants, Forfeited/Canceled | shares	(1,303,000)	(8,090,000)
Warrants, Forfeited/Canceled, Weighted Average Exercise Price | $ / shares	$ 3	$ 4.21
Warrants, Outstanding, Ending Balance | shares	8,627,734	8,612,992	14,577,992
Warrants, Outstanding, Ending Balance, Weighted Average Exercise Price | $ / shares	$ 2.75	$ 3.25	$ 4.69
Warrants, Outstanding Intrinsic Value, Ending Balance | $	$ 0	$ 11,237,988
Warrants, Exercisable	8,627,734
Exercisable, Weighted Average Exercise Price | $ / shares	$ 2.75
Exercisable, Weighted Average Remaining Contractual Life	2 years 3 months 4 days	2 years 1 month 24 days
Exercisable, Intrinsic Value | $	$ 0

Note 10 - Stock Options and W65

Note 10 - Stock Options and Warrants: Schedule of Exerciseable and Outstanding Warrants (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jul. 02, 2016
Intrinsic value of outstanding and exercisable stock options	$ 0	$ 11,237,988
Number of Shares	8,627,734
Weighted Average Remaining Life (Years)	2 years 1 month 24 days	2 years 7 months 28 days	1 year 11 months 16 days
Exercise price				$ 1
Warrants | 0.10
Number of Shares	500,000
Weighted Average Remaining Life (Years)	2 years 10 months 2 days
Weighted Average Exercise Price ($)	$ 1
Exercise price	$ 0.10
Warrants | 1.00
Number of Shares	2,175,000
Weighted Average Remaining Life (Years)	1 year 10 months 2 days
Weighted Average Exercise Price ($)	$ 1
Exercise price	$ 1
Warrants | 2.00
Number of Shares	1,100,000
Weighted Average Remaining Life (Years)	2 years 9 months 18 days
Weighted Average Exercise Price ($)	$ 2
Exercise price	$ 2
Warrants | 2.50
Number of Shares	3,207,734
Weighted Average Remaining Life (Years)	2 years 7 months 10 days
Weighted Average Exercise Price ($)	$ 2.50
Exercise price	$ 2.50
Warrants | 3.00
Number of Shares	50,000
Weighted Average Remaining Life (Years)	3 years 1 month 17 days
Weighted Average Exercise Price ($)	$ 3
Exercise price	$ 3
Warrants | 4.00
Number of Shares	75,000
Weighted Average Remaining Life (Years)	1 year 6 months 29 days
Weighted Average Exercise Price ($)	$ 4
Exercise price	$ 4
Warrants | 6.00
Number of Shares	20,000
Weighted Average Remaining Life (Years)	3 months 29 days
Weighted Average Exercise Price ($)	$ 6
Exercise price	$ 6
Warrants | 7.15
Number of Shares	1,500,000
Weighted Average Remaining Life (Years)	1 year 6 months 11 days
Weighted Average Exercise Price ($)	$ 7.15
Exercise price	$ 7.15

Note 11 - Commitments and Con66

Note 11 - Commitments and Contingencies: Schedule of Future Minimum Lease Payments (Details)	Dec. 31, 2016USD ($)
Text Block [Abstract]
2,017	$ 218,010
2,018	229,061
2,019	235,933
2,020	243,028
2,021	250,324
Thereafter	192,741
Operating leases, future minimum payments due	$ 1,369,097

Note 11 - Commitments and Con67

Note 11 - Commitments and Contingencies (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Sep. 17, 2014
Acquisition termination fee		$ 0	$ 5,500,000
Structuring fee	$ 4,000,000	0	$ 4,000,000
Dune Energy, Inc
Cash Tender Offer, Per Share Price				$ 0.30
Acquisition termination fee		$ 5,500,000

Note 12 - Income Taxes_ Sched68

Note 12 - Income Taxes: Schedule of Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Deferred Tax Assets
Net Operating Loss Carryforwards	$ 6,184,204	$ 3,802,383
Deferred Compensation	169,696	55,172
Accrued expenses	4,280,687	4,172,035
Stock Based Compensation	181,247	181,247
Valuation Allowance	(10,815,834)	(8,210,837)
Net Deferred Tax Asset	$ 0	$ 0

Note 12 - Income Taxes_ Sched69

Note 12 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Text Block [Abstract]
Statutory federal income tax rate	(34.00%)	(34.00%)
State income taxes, net of federal taxes	(6.00%)	(6.00%)
Non-includable items	24.00%	17.00%
Increase in Valuation Allowance	16.00%	23.00%
Effective income tax rate	0.00%	0.00%

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
Operating Loss Carryforwards	$ 15,434,000
Minimum
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2031

Note 13 - Subsequent Events (De

Note 13 - Subsequent Events (Details) - USD ($)	Aug. 10, 2016	Jan. 31, 2017	Jun. 27, 2016	Dec. 31, 2016	Dec. 31, 2015	Oct. 09, 2014
Debt Instrument, Face Amount					$ 1,208,160
Ridelinks, Inc
Unsecured promissory note						$ 200,000
Note Payable 9
Debt Instrument, Face Amount	$ 500,000
Debt Instrument, Interest Rate, Stated Percentage	2.00%
Debt Instrument, Maturity Date				Jun. 5, 2017
Debt extinguishment	$ 50,000
Note Payable
Debt Instrument, Face Amount			$ 200,000
Debt Instrument, Interest Rate, Stated Percentage			1.00%
Common stock issued to lender			200,000
Subsequent Event [Member]
Proceed from common Stock		$ 100,000
Common stock issued for cash, shares		100,000

Note 14 - Supplemental Inform72

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited): Exploration (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Text Block [Abstract]
Unproved property acquisition costs	$ 0	$ 0
Exploration costs	0	0
Development costs	0	0
Asset retirement obligation	9,251	8,410
Total cost incurred	$ 9,251	$ 8,410

Note 14 - Supplemental Inform73

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited): Reserve Quantities (Details) - bbl	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Text Block [Abstract]
Balance, beginning of the year	209,506	234,222
Purchase of reserves in place	0	0
Revision of previous estimates	(208,295)	(19,869)
Production	(1,211)	(4,847)
Net change	0	209,506

Note 14 - Supplemental Inform74

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited): Undeveloped Reserves (Details) - bbl	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Text Block [Abstract]
Proved Developed Reserves	0	36,914
Proved Undeveloped Reserve	0	172,592
Total proved reserves	0	209,506	234,222

Note 14 - Supplemental Inform75

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited): Net Cash Flows (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Text Block [Abstract]
Future cash inflows	$ 409,464	$ 9,069,498
Future production and development costs	(409,464)	(3,608,652)
Future income taxes	0	0
Future Net Cash Flows	0	5,460,846
Discount of future net cash flows at 10% per annum	0	(2,688,176)
Standardized measure of discounted future net cash flows	$ 0	$ 2,772,670	$ 8,204,964

Note 14 - Supplemental Inform76

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited): Gas Reserves (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Text Block [Abstract]
Beginning of the year	$ 2,772,670	$ 8,204,964
Sales and Transfers of Oil and Gas Produced, Net of Production Costs	19,435	(59,959)
Purchases of Minerals in Place	0	0
Revisions of Previous Quantity Estimates	(2,792,105)	(5,372,335)
Net change	$ 0	$ 2,772,670

Note 14 - Supplemental Inform77

Note 14 - Supplemental Information Relating To Oil and Gas Producing Activities (Unaudited) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)$ / bbl	Dec. 31, 2015$ / bbl
Oil and Gas Properties
Percent of discount for estimating proven oil and gas reserves	10.00%
Crude Oil and NGL
Average Sales Prices | $ / bbl	35	42
Impairment charge | $	$ 1,051,702