Foothills Exploration (FTXP) 10-K 14 Apr 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 31, 2017
Document And Entity Information
Entity Registrant Name	FOOTHILLS EXPLORATION, INC.
Entity Central Index Key	1,503,458
Document Type	10-K
Trading Symbol	FTXP
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float		$ 3,073,400
Entity Common Stock, Shares Outstanding		13,954,612
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 801,377	$ 375,000
Prepaid expenses	49,140	170,833
Total Current Assets	850,517	545,833
Fixed assets, net	353,363
Restricted cash	240,000	25,000
Bonds	295,000
Oil and gas property, proved and unproved	11,198,411	72,430
Total Assets	12,937,291	643,263
Current Liabilities:
Accounts payable and accrued liabilities	1,923,700	3,500
Related party payable	10,600
Accrued interest		789
Total Current Liabilities	1,934,300	4,289
Long-Term Liabilities:
Long-term debt	6,000,000	600,000
Total Liabilities	7,934,300	604,289
Stockholders' Equity:
Preferred stock, $0.0001 par value; 25,000,000 shares authorized; no shares outstanding
Common stock, $0.0001 par value; 30,000,000 shares authorized; 13,779,612 and 4,500,000 shares issued and outstanding, respectively	1,378	450
Stock payable	51,397
Additional paid in capital	6,924,810	71,980
Accumulated deficit	(1,974,594)	(33,456)
Total stockholders' equity	5,002,991	38,974
Total Liabilities and Stockholders' Equity	$ 12,937,291	$ 643,263

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized	25,000,000	25,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized	30,000,000	30,000,000
Common stock, issued	13,779,612	4,500,000
Common stock, outstanding	13,779,612	4,500,000

Consolidated Statement of Opera

Consolidated Statement of Operations - USD ($)	Dec. 31, 2015	Dec. 31, 2016
Operating expenses
Selling, general and administrative	$ 32,667	$ 1,913,265
Total operating expenses	32,667	1,913,265
Loss from operations	(32,667)	(1,913,265)
Other income (expenses):
Interest expense	(789)	(27,873)
Total other expenses	(789)	(27,873)
Loss from operations before income taxes	(33,456)	(1,941,138)
Provision for income taxes
Net Loss	$ (33,456)	$ (1,941,138)
Net loss per share - basic and diluted (in dollars per share)	$ (0.01)	$ (0.23)
Weighted average common shares - basic and diluted (in shares)	2,250,000	8,422,180

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common stock [Member]	Additional Paid in Capital [Member]	Stock Payable [Member]	Accumulated Deficit [Member]	Total
Balance at beginning at Dec. 16, 2015
Balance at beginning (in shares) at Dec. 16, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Assignment of rights, Oil and Gas property, Wyoming	$ 450	71,980			72,430
Assignment of rights, Oil and Gas property, Wyoming	4,500,000
Net loss				(33,456)	(33,456)
Balance at ending at Dec. 31, 2015	$ 450	71,980		(33,456)	$ 38,974
Balance at ending (in shares) at Dec. 31, 2015	4,500,000				4,500,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
KYLK Shares	$ 5,881	(5,881)
KYLK Shares (in shares)	58,809,000
Common stock returned to treasury for cancellation	$ (5,645)	5,645
Common stock returned to treasury for cancellation (in shares)	(56,449,000)
Common stock issued for notes payable	$ 150	999,850			1,000,000
Common stock issued for notes payable (in shares)	1,503,759
Shares issued for services	$ 32	2,630			2,662
Shares issued for services (in shares)	320,000
Shares issued for services	$ 1	7,649			7,650
Shares issued for services (in shares)	5,000
Common stock issued for cash	$ 301	1,999,699			2,000,000
Common stock issued for cash (in shares)	3,007,519
Common stock issued for acquisition	$ 208	3,812,293			3,812,501
Common stock issued for acquisition (in shares)	2,083,334
Warrants issued for services		2,144			2,144
Debt forgiveness		28,801			28,801
Stock payable (RSUs)			51,397		51,397
Net loss				(1,941,138)	(1,941,138)
Balance at ending at Dec. 31, 2016	$ 1,378	$ 6,924,810	$ 51,397	$ (1,974,594)	$ 5,002,991
Balance at ending (in shares) at Dec. 31, 2016	13,779,612				13,779,612

Condensed Consolidated Statemen

Condensed Consolidated Statement Of Cash Flows (Unaudited) - USD ($)	Dec. 31, 2015	Dec. 31, 2016
Cash Flows from Operating Activities
Net loss	$ (33,456)	$ (1,941,138)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		4,114
Common stock issued for services		11,563
Stock payable		51,397
Changes in operating assets and liabilities:
Prepaid expenses	(170,833)	122,586
Accounts payable and accrued liabilities	3,500	667,503
Accrued interest	789	28,013
Net cash used in operating activities	(200,000)	(1,055,962)
Cash Flows from Investing Activities
Payment for restricted cash	(25,000)
Cash received in acquisition		358,129
Payments made under acquisition		(75,000)
Payments for purchase of fixed assets		(91,899)
Payments for acquisition of oil and gas property		(1,108,891)
Net cash from investing activities	(25,000)	(917,661)
Cash Flows from Financing Activities
Proceeds from notes payable	600,000	400,000
Proceeds from issuance of common stock		2,000,000
Net cash provided by financing activities	600,000	2,400,000
Net increase in cash and cash equivalents	375,000	426,377
Cash and Cash Equivalents, beginning of period		375,000
Cash and Cash Equivalents, end of period	375,000	801,377
Supplemental disclosures of cash flow information:
Taxes and interest
Non-cash investing and financing activities
Prepaid expense in shares		893
Accrued interest settled in shares		28,801
Conversion of notes payable		1,000,000
Accounts payable settled with restricted cash		$ 25,000
Assets acquired in acquisition		10,817,668
Related party payable acquired in acquisition		$ (10,600)
Liabilities acquired in acquisition		(613,297)
Notes payable issued in acquisition		(6,000,000)
Shares issued in acquisition		(3,812,500)
Shares issued for acquisition of oil and gas property	$ (72,430)

Nature of the Business

Nature of the Business	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business	Note 1 – Nature of the Business Business Foothills Exploration, Inc., (“Company” or “Foothills Exploration”) was incorporated in the State of Delaware on May 13, 2010, under the name of “Key Link Assets Corp.” for the purpose of acquiring a portfolio of heavily discounted real estate properties in the Chicago metropolitan area. The Company changed its focus and planned to acquire small and medium sized grocery stores in non-urban locales that are not directly served by large national supermarket chains. On May 2, 2016, Foothills Petroleum Inc., a Nevada corporation (“FPI”), acquired over 14.1 million pre-split (56.4 million post-split) shares of the Company’s common stock constituting approximately 96% of our then issued and outstanding shares (“FPI Acquired Shares”). As of May 16, 2016, we effected a 4:1 forward split of our shares of common stock. On May 27, 2016, we entered into a Share Exchange Agreement with shareholders of FPI whereby we acquired all of the outstanding shares of FPI in exchange for 4,500,000 shares of our common stock and also issued 1,503,759 shares of our common stock on automatic conversion of debt (please see discussion below under Overview) for an aggregate of 6,003,759 shares of our common stock (the “Share Exchange”). As a result of the Share Exchange, FPI became our wholly owned subsidiary and the FPI Acquired Shares were returned to treasury and deemed cancelled. For accounting purposes, this transaction is being accounted for as a reverse acquisition and has been treated as a recapitalization of the Company with FPI considered the accounting acquirer, and the financial statements of the accounting acquirer became the financial statements of the registrant. The completion of the Share Exchange resulted in a change of control. The FPI Shareholders obtained approximately 96% of voting control on the date of Share Exchange. FPI was the acquirer for financial reporting purposes and the Company was the acquired company. The consolidated financial statements after the acquisition include the balance sheets of both companies at historical cost, the historical results of FPI and the results of the Company from the acquisition date. All share and per share information in the accompanying consolidated financial statements and footnotes have been retroactively restated to reflect the recapitalization. Prior to the Share Exchange, we had minimal assets and recognized no revenues from operations, and were accordingly classified as a shell company. On June 24, 2016, we filed an amendment to our Current Report on Form 8-K originally filed on June 10, 2016, indicating that we were no longer a shell company as defined by Rule 12b-2 of the Exchange Act. In light of closing the Share Exchange transaction with the shareholders of FPI, the Company became actively engaged in oil and gas operations through its wholly owned subsidiary. On August 4, 2016, we were advised that the Financial Industry Regulatory Association had approved (i) our name change from Key Link Assets Corp. to Foothills Exploration, Inc., and (ii) a change of trading symbol from KYLK to FTXP. On December 12, 2016, the Company entered into a participation agreement with Magna Operating, LLC, a privately held Houston-based independent exploration and production company (“Magna Operating”), in relation to the Labokay prospect, covering approximately 240 acres in Calcasieu Parish, Louisiana. As consideration for an assignment of interest in and to the leases and the prospect, Foothills Petroleum Operating, Inc., a Nevada corporation and indirect wholly-owned subsidiary of the Company (“FPOI”), tendered to Magna Operating the purchase price in the amount of $144,000. This amount covered FPOI’s share of the land, lease, and administrative costs that Magna Operating incurred in generating and assembling the Labokay prospect as of November 15, 2016. As further consideration for an assignment of working interest in and to the leases, FPOI agreed to participate in the cost, risk, and expense of drilling the Labokay test well. The Company drilled a total measured depth of the Labokay Prospect well where hydrocarbons shows were present, but not in commercial quantities to warrant completion. The Company disclosed that the well will be plugged and abandoned as required. The Company estimates well costs for the Labokay Prospect at approximately $1.1 million including plugging and abandonment liability which it expects to incur during Q1 of 2017. On December 30, 2016, the Company acquired various oil and gas assets in Utah from Total Belief Limited, a wholly owned subsidiary of New Times Energy Corporation Limited. These assets included certain oil and gas wells throughout the Uinta Basin in Utah on acreage with over 30 proven undeveloped drilling locations, additional non-operating interest in other leases, and access to approximately 6,000 acres in the Uinta Basin with proven and probable reserves and existing infrastructure in place. Through the acquisition, Foothills also obtained six shut-in wells in the Natural Buttes Field, Utah. The transaction provides Foothills with the rights to an agreement to acquire up to 6,000+ acres and up to 16 shut-in oil and gas wells with proved and proved undeveloped reserves on Tribal lands in the Uinta Basin. This acquisition delivers to the Company an additional 40% working interest in the Ladysmith Prospect covering 3,060 acres in the Greater Green River Basin, Wyoming, bringing the Company’s total working interest in the prospect from 35% (pre-acquisition) up to 75%. By this agreement, the Company acquired 13,166,667 shares, constituting 55.63% of the outstanding shares of Grey Hawk Exploration, Inc. (“Grey Hawk”), a British Columbia, Canada company. Grey Hawk owns a non-operated working interest in two non-producing wells in the southern portion of the Natural Buttes Field. On December 30, 2016, the Company also acquired the remaining 25% membership interest in TEPI from Green Stone Capital Partners Limited, a Cayman Islands limited liability company, in exchange for assumption of Greenstone’s proportionate share of TEPI obligations and liabilities. Nature of Operations FPI, the Company’s main operating subsidiary, was incorporated in Nevada in December 2015. Foothills is an independent oil and gas exploration company with a focus on the acquisition and development of oil and gas properties in the Rockies and Gulf Coast. Foothills seeks to acquire dislocated and underdeveloped oil and gas assets and maximize those assets to create shareholder value (the "Business"). The Company’s principal obligations include: • A debenture in the amount of $1,250,000, plus interest accruing at a rate of 9% per annum issued to Berwin Trading Limited with principal and interest due upon maturity on May 6, 2017; • A second debenture in the amount of $1,000,000, plus interest accruing at a rate of 9% issued to Full Wealth Investment Hong Kong Limited (collectively the “Debentures”) with principal and interest due upon maturity on or before May 5, 2017; and • A promissory note in the amount of $6,000,000 to Total Belief Limited (“TBL”), a direct wholly-owned subsidiary of New Times Energy Corporation Limited, in connection with the assets acquired on December 30, 2016, with a maturity date of June 30, 2018. This promissory note accrues no interest during its term and is due and payable in full on or before its maturity date. From its inception in December 2015, through the date of the Share Exchange, Foothills produced no revenues from its business and principal properties and is currently an exploration stage company. Prior to January 2016, Foothills had minimal operations that were focused mainly on administrative activities connected to the identification and evaluation of potential oil and gas prospects and other potential leasehold acquisitions in our geographical areas of interest. As of December 31, 2016, Foothills had acquired the rights to 45,648 acres of oil and gas property in the state of Wyoming, excluding 6,115 acres of Ironwood prospect that are subject to drilling a well in 2017. Please see Note 13, Subsequent Events, for additional acreage obtained subsequent to December 31, 2016. Foothills’ technical team and strategic advisors have a proven track record of finding, exploiting and developing oil resources in the Rockies and Gulf Coast, with a deep technical and operational knowledge of the area.

Going Concern

Going Concern	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	Note 2 – Going Concern As shown in the accompanying financial statements, the Company has incurred an accumulated loss of $1,974,594 through December 31, 2016, and had working capital deficit of $1,083,783 at December 31, 2016. The Company is subject to those risks associated with exploration stage companies. The Company has sustained losses since inception and additional debt and equity financing will be required by the Company to fund its development activities and to monetize economically recoverable oil and gas reserves. We are currently engaged in discussions with financing sources seeking more than $5 million intended to repay or refinance amounts due at beginning of May 2017. Additionally, other prospects are being evaluated for acquisition and will likely need additional capital in the form of equity or debt, including possible bank debt that is significantly greater than $5 million. However, no assurance can be given that the Company will be able to obtain additional financing to further its ongoing activities so that profitable operations can be attained. The Company also continues to search for producing and/or additional productive properties and seeks to strategically lease additional acreage positions adjoining leases currently owned by the Company. There can be no assurance that the Company's efforts will be successful, or that those efforts will translate in a beneficial manner to the Company. These factors raise 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 statements do not include any adjustments relating to the recoverability and classification of assets and/or liabilities that might be necessary, should the Company be unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Note 3 – Summary of Significant Accounting Policies Principles of Consolidation The financial statements include the accounts of Foothills Exploration, Inc., and all of its direct and indirect wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. Basis of Presentation and Functional Currency These consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States of America, and are expressed in United States dollars (USD). Exploration Stage The Company has not produced revenues from its principal business and is still in the exploration stage. The Company is engaged in the acquisition, exploration, development and production of oil and gas properties. As of December 31, 2016, the Company had acquired the rights to 45,648 acres of oil and gas property in the state of Wyoming, excluding 6,115 acres of Ironwood prospect that are subject to drilling a well in 2017, through its transaction with the shareholders of Foothills, its farmout agreement with Koch Exploration Company, and other acquisitions made by the Company since its inception. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 reported periods. Actual results could materially differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The carrying value of those investments approximates their fair market value due to their short maturity and liquidity. Cash and cash equivalents include cash on hand and amount on deposit with financial institutions, which amounts may at times exceed federally insured limits. The Company has not experienced any losses on such accounts and it does not believe it is exposed to any significant credit risk. As of December 31, 2016, the Company had no cash equivalents. Restricted Cash Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are recorded in restricted cash Oil and Gas Properties The Company follows the full cost method of accounting for its investments in oil and gas properties. Under the full cost method, all costs associated with the exploration of properties are capitalized into appropriate cost centers within the full cost pool. Internal costs that are capitalized are limited to those costs that can be directly identified with acquisition, exploration, and development activities undertaken and do not include any costs related to production, general corporate overhead, or similar activities. Cost centers are established on a country-by-country basis. Capitalized costs within the cost centers are amortized on the unit-of-production basis using proved oil and gas reserves. The cost of investments in unevaluated properties and major development projects are excluded from capitalized costs to be amortized until it is determined whether or not proved reserves can be assigned to the properties. Until such a determination is made, the properties are assessed annually to ascertain whether impairment has occurred. The costs of drilling exploratory dry holes are included in the amortization base immediately upon determination that the well is dry. For each cost center, capitalized costs are subject to an annual ceiling test, in which the costs shall not exceed the cost center ceiling. The cost center ceiling is equal to: (i) the present value of estimated future net revenues computed by applying current prices of oil and gas reserves (with consideration of price changes only to the extent provided by contractual arrangements) to estimated future production of proved oil and gas reserves as of the date of the latest balance sheet presented, less estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves computed using a discount factor of ten percent and assuming continuation of existing economic conditions; plus (ii) the cost of properties not being amortized; plus (iii) the lower of cost or estimated fair value of unproven properties included in the costs being amortized; and less (iv) income tax effects related to differences between the book and tax basis of the properties. If unamortized costs capitalized within a cost center, less related deferred income taxes, exceed the cost center ceiling, the excess is charged to expense and separately disclosed during the period in which the excess occurs. The Company will perform this test no less than each fiscal year beginning in 2017. Capitalization of Fixed Assets The Company capitalizes expenditures related to property and equipment, subject to a minimum rule, that have a useful life greater than one year for: (1) assets purchased; (2) existing assets that are replaced, improved or the useful lives have been extended; or (3) all land, regardless of cost. Acquisitions of new assets, additions, replacements and improvements (other than land) costing less than the minimum rule in addition to maintenance and repair costs, including any planned major maintenance activities, are expensed as incurred. Office equipment – 3 years Vehicle – 5 years Drill equipment – 7 years Oil and gas properties – 20 years Asset Retirement Obligations The asset retirement obligation relates to the plug and abandonment costs when its wells are no longer useful. The Company determines the value of the liability by obtaining quotes for this service and then estimating the increase it will face in the future. The Company then discounts the future value based on an intrinsic interest rate that is appropriate. If costs rise more than what was expected there could be additional future charges, however, Foothills monitors the costs of the abandoned wells and intends to adjust this liability as required. Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash and equivalents, restricted cash, accounts receivable, accounts payable, accrued liabilities and short-term debt, the carrying amounts approximate their fair values due to their short maturities. ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the consolidated balance sheets for receivables and current liabilities 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 three levels of valuation hierarchy are defined as follows: • Level 1, defined as observable inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. • Level 2, defined as 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 defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. As of December 31, 2016, the Company did not identify any assets and liabilities that are required to be presented on the balance sheet at fair value. Net Earnings (Loss) Per Common Share The Company computes earnings per share under ASC 260-10, “Earnings Per Share.” Basic earnings (loss) per share is computed by dividing the net income (loss) attributable to the common stockholders (the numerator) by the weighted average number of shares of common stock outstanding (the denominator) during the reporting periods. Diluted loss per share is computed by increasing the denominator by the weighted average number of additional shares that could have been outstanding from securities convertible into common stock (using the “treasury stock” method), unless their effect on net loss per share is anti-dilutive. There were 1,475,000 potentially dilutive shares, which include outstanding warrants and options, for the period ended December 31, 2016. The potential shares are excluded from the determination of basic and diluted net loss per share as their effect is anti-dilutive. Income Taxes The Company accounts for income taxes using the asset and liability method whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Stock-Based Compensation All share-based payments, including grants of stock to employees, directors and consultants, are recognized in the consolidated financial statements based upon their estimated fair values. The Company’s accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services follows ASC Topic 505. As such, the value of the applicable stock-based compensation is periodically re-measured and income or expense is recognized during their vesting terms. The measurement date for the fair value of the equity instruments issued is determined at the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is primarily recognized over the term of the consulting agreement. In accordance with FASB guidance, an asset acquired in exchange for the issuance of fully vested, non-forfeitable equity instruments should not be presented or classified as an offset to equity on the grantor’s balance sheet once the equity instrument is granted for accounting purposes. Recent Accounting Pronouncements In November 2015, the FASB issued Accounting Standards Update No. 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Improvements to Employee Share-Based Payment Accounting In January 2017, the FASB issued Accounting Standards Update No. 2017-01, Clarifying the Definition of a Business In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment 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.

Share Exchange Agreement

Share Exchange Agreement	12 Months Ended
	Dec. 31, 2016
Share Exchange Agreement
Share Exchange Agreement	Note 4 – Share Exchange Agreement On May 2, 2016, Foothills Petroleum Inc., a Nevada corporation ("FPI”) acquired over 14.1 million pre-split (56.4 million post-split) shares of Key Link’s common stock from five persons constituting approximately 96% of our issued and outstanding shares (the "FPI Acquired Shares"). In conjunction with this purchase we incurred a charge of $316,035 for the purchase of these shares. As of May 16, 2016, the Company effected a 4:1 forward split of our shares of common stock. On May 27, 2016, the Company entered into a Share Exchange Agreement ("Share Exchange Agreement") with the shareholders of FPI, whereby the Company acquired all of the outstanding shares of FPI for an aggregate of 6,003,759 shares of common stock of which 4,500,000 shares of common stock were issued to Wilshire Energy Partners, LLC, ("Wilshire") and 1,503,759 of shares of common stock were issuable to Alternus Capital Holdings Ltd., a British Virgin Islands company ("Alternus") (the “Share Exchange”) for automatic conversion of debt. As a result of the Share Exchange, FPI became the Company’s wholly owned subsidiary and the FPI Acquired Shares were subsequently returned to treasury, deemed canceled and no longer outstanding. The Company also exchanged warrants to purchase 700,000 shares of FPI’s common stock that were issued to Wilshire for a like amount of warrants to purchase shares of Key Link’s common stock (the "Wilshire Warrants"). The Wilshire Warrants: • have a term of five years; • are exercisable at $1.25 per share as to 100,000 shares; • are exercisable at $2.00 per share as to 200,000 shares; • are exercisable at $3.00 per share as to 400,000 shares; • do not have a cashless exercise feature; and • are not exercisable for one year from the date of issuance. Following the closing of the Share Exchange transaction the Company had approximately 8,363,759 shares of common stock outstanding (excluding the FPI Acquired Shares, which are deemed canceled following the Share Exchange), of which Wilshire and Alternus own in the aggregate 6,003,759 shares, or approximately 52% of the outstanding common stock. As of the date of this filing the Company has 25,000,000 shares of preferred stock authorized of which no shares are issued and outstanding.

Acquisition

Acquisition	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Acquisition	Note 5 – Acquisition On December 30, 2016, Foothills, through its indirect wholly owned subsidiary, Foothills Exploration Operating, Inc. (“FEOI”) entered into a purchase and sale agreement with Total Belief Limited (“TBL”), a British Virgin Islands limited liability company with its principal office at Room 1402, 14/F, New World Tower I, 16-18 Queen’s Road Central, Hong Kong and a direct wholly-owned subsidiary of New Times Energy Corporation Limited (“NTE”), a Bermuda limited liability company whose shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited. Under its agreement with TBL, the Company purchased membership interests in the companies listed below, constituting all of the ownership interest and claims that TBL has or may have in these companies, as defined below. Based on the closing of its agreement with TBL, the Company acquired: • Clear Elite Holdings Limited (“CEH”), a British Virgin Islands limited liability company, which is the owner of 100% of the membership interests of Golden Giants Limited, a British Virgin Islands limited liability company (“GGL”), which owns: o 100% of the membership interests of NTE-Utah, LLC, a Delaware limited liability company (“NTE-Utah”), which in turn owns 100% of the membership interests of Tiger Energy Operating, LLC (“TEO”), a Nevada limited liability company, which in turn owns 100% of the membership interests of Tiger Energy Mineral Leasing, LLC (“TEML”), a Nevada limited liability company, with owned oil and gas leases, wells, related oil and gas bonds, and oil and gas lease rights and options, found in approximately 280 acres in Uintah County, Utah, and cash assets held by the entities; and o 750 units of membership interests (representing 75% total equity ownership) of Tiger Energy Partners International, LLC (“TEPI”), a Nevada limited liability company with owned assets including: • All rights and interests pertaining to the Global Settlement Agreement (“GSA”) for the Uintah and Ouray Reservation between Mountain Oil & Gas, Inc. and certain entities affiliated with it and the Ute Indian Tribe of the Uintah and Ouray Reservation, dated December 22, 2014; • All rights and interests acquired in the Purchase and Sale Agreements between TEPI and Mountain Oil & Gas, Inc. dated April 16, 2012, and December 18, 2012; • All cash held in an attorney trust account earmarked for payments to certain vendors and other creditors; • $240,000 cash held in escrow for State of Utah Department of Natural Resources Division of Oil, Gas and Mining (DOGM); and • Cash balances in all company bank accounts. • Prominent Sino Holdings Limited (“PSH”) and Value Train Investments Limited (“VTI”), each a British Virgin Islands limited liability company, and each a direct wholly-owned subsidiary of TBL, and that together own 55.63% of the shares of Grey Hawk Exploration, Inc. (“Grey Hawk”), a British Columbia, Canada company, constituting ownership of 13,166,667 Grey Hawk common shares. Grey Hawk owns a non-operated working interest in two non-producing wells in the southern portion of the Natural Buttes Field. Under the acquisition agreement the parties agreed to determine and pay the purchase price of $10.75 million for these assets and ownership interests as follows: • A cash payment of $75,000 in connection with closing; • Additional cash payment of $675,000 payable within 10 business days following execution of the agreement; • 2,083,334 shares of restricted common stock of the Company valued for accounting purposes at $3,812,500, or at price per share of $1.83 (valued by the parties at $4,000,000 at an agreed upon price per share of $1.92); and • A promissory note delivered at closing in the principal amount of $6,000,000 that: o has a term of 18 months from the Closing Date; o accrues no interest during its term; and o requires the entire principal amount to be due and payable upon maturity. The Company acquired these assets of TBL and those of its subsidiaries subject to their respective debt obligations, other than for a promissory note, dated July 28, 2016, originally issued by GGL to a third party, in the original principal amount of $3,422,353. Upon delivery of the $6,000,000 note to TBL, the third party and TBL agreed that the $3,422,353 note has been satisfied in full and wholly discharged as to GGL. The Company accounted for the acquisition of these assets using the fair value method of accounting. Based on several factors including the purchase price, the value of the consideration provided to the seller, and an independent valuation of the assets acquired less liabilities and future estimated capital and operating expenditures to bring the assets to producing status. The Company then assigned the purchase price to the assets acquired by class of assets. Concurrently with the foregoing, the Company also acquired the remaining 25% membership interests in TEPI from Green Stone Capital Partners Limited, a Cayman Islands limited liability company, in exchange for assumption of Greenstone’s proportionate share of TEPI obligations and liabilities. Kevin Sylla, who beneficially owns approximately 53% of Wilshire Energy Partners, LLC, a principal stockholder of the Company, and who has served as Managing Director of TEPI and of TEO introduced the Company to TBL. Subsequently, Mr. Sylla was appointed director and Chief Executive Officer of FPI effective March 1, 2017. The total purchase price for the TBL acquisition was allocated as follows: Assets Cash $ 358,130 Cash in escrow 240,000 Oil & gas properties 10,016,990 Drilling equipment 265,578 Investment 100 Bond deposits 295,000 Liabilities Accounts payable (389,325 ) Contingent Liabilities (213,372 ) Related party payable (10,600 ) Net assets acquired $ 10,562,501

Fixed Assets

Fixed Assets	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Fixed Assets	Note 6 – Fixed Assets As of December 31, 2016, and 2015, fixed assets consisted of the following: December 31, 2016 December 31, 2015 Computer equipment and fixtures $ 22,453 $ - Vehicle 69,446 - Drilling Equipment 265,578 - Accumulated depreciation (4,114 ) - Fixed assets, net $ 353,363 $ - Depreciation and amortization expense for the year ended December 31, 2016, and for the period ended December 31, 2015 was $4,114 and $0, respectively.

Oil and Gas Properties

Oil and Gas Properties	12 Months Ended
	Dec. 31, 2016
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Oil and Gas Properties	Note 7 – Oil and Gas Properties Upon organization of Foothills Petroleum Inc., on December 24, 2015, Wilshire Energy Partners, LLC, contributed its 100% membership interest in Foothills Exploration, LLC, a Wyoming limited liability company, to FPI in exchange for 4,500,000 shares of FPI's common stock. At the time of contribution, Wilshire Energy Partners, LLC, had acquired and owned the rights to 38,120 acres of oil and gas leases in the State of Wyoming (as described above in Note 1, Nature of Operations). On completion of the Share Exchange, effective May 27, 2016, Wilshire Energy Partners, LLC, exchanged its FPI shares for 4,500,000 shares of the Company's common stock. As a result, the Company owns 100% of FPI and Foothills Exploration, LLC, is now a wholly owned indirect subsidiary of the Company that retains title to these oil and gas leases. This transaction is treated as the founding transaction by the Company. The asset was valued at $72,430 at the time of transfer based on costs associated with the payment of lease bonuses, fees and taxes paid during the formation of the asset. On March 29, 2016, Foothills acquired a 35% working interest in the Ladysmith Anticline prospect that is located in Fremont County, Wyoming. Total acreage position is 3,061 acres located between the Great Divide/Greater Green River Basin and the Wind River Basin, in return for covering certain costs of operation in the amount of $20,000, and to a share of the working interest in the leases. The primary target zones are the variable Phosphoria and Tensleep sandstone with secondary considerations in the Madison limestone and Flathead sandstone. The prospect generation was based on licensed 2-D seismic comprised of two seismic lines covering the Chevron/Echo – Greater Green River Basin. The asset is valued at $20,000 based on the agreement and consideration paid by the Company. During the year ended December 31, 2016, the Company capitalized an additional $55,848 in costs related to this asset. On December 12, 2016, the Company entered into a participation agreement with Magna Operating, LLC, a privately held Houston-based independent exploration and production company (“Magna Operating”), in relation to the Labokay prospect, covering approximately 240 acres in Calcasieu Parish, Louisiana. As consideration for an assignment of interest in and to the leases and the prospect, Foothills Petroleum Operating, Inc., a Nevada corporation and indirect wholly-owned subsidiary of the Company (“FPOI”), tendered to Magna Operating the purchase price in the amount of $144,000. This amount covered FPOI’s share of the land, lease, and administrative costs that Magna Operating incurred in generating and assembling the Labokay prospect as of November 15, 2016. As further consideration for an assignment of working interest in and to the leases, FPOI agreed to participate in the cost, risk, and expense of drilling the Labokay test well. Subsequent to the period ended December 31, 2016, the Company drilled a test well on Labokay to the total measured depth of 8,795 feet, where hydrocarbons shows were present, but not in commercial quantities to warrant completion. The Company disclosed that the well will be plugged and abandoned as required. The Company estimates well costs for the Labokay test well at approximately $1.1 million, including plugging and abandonment liability which it expects to incur during the first half of 2017. On December 30, 2016, the Company acquired various oil and gas assets in Utah from Total Belief Limited, a wholly owned subsidiary of New Times Energy Corporation Limited. These assets included certain oil and gas wells throughout the Uinta Basin in Utah on acreage with over 30 proven undeveloped drilling locations, additional non-operating interest in other leases, and access to approximately 6,000 acres in the Uinta Basin with proven and probable reserves and existing infrastructure in place. This purchase provides us with an entry point into the Uinta Basin and a basis from which to seek other bolt-on acquisition opportunities in the Rockies. The transaction delivers a licensed and bonded operator in Utah having bonds in place with the BLM, State of Utah and BIA. Through the acquisition, Foothills also obtained six shut-in wells in the Natural Buttes Field, Utah. Two of these wells have already been worked over and brought back online with production averaging around 500 barrels per month in January and February 2017. The remaining four wells will be worked over in the coming months with the goal of bringing additional production back online. The transaction provides Foothills with the rights to an agreement to acquire up to 6,000+ acres and up to 16 shut-in oil and gas wells with proved and proved undeveloped reserves on Tribal lands in the Uinta Basin. These properties provide in-field drilling potential, the ability to bring online shut-in wells and behind pipe development. Five shut-in wells located on fee lands in the Altamont-Bluebell Field that are undergoing title curative also have the potential to achieve near term production with stimulation and the addition of surface equipment. Furthermore, this acquisition delivers to the Company an additional 40% working interest in the Ladysmith Prospect covering 3,060 acres in the Greater Green River Basin, Wyoming, bringing the Company’s total working interest in the prospect from 35% (pre-acquisition) up to 75%. Lastly through this transaction, the Company also acquired 13,166,667 shares of common stock, constituting 55.63% of the outstanding shares of Grey Hawk Exploration, Inc. (“Grey Hawk”), a British Columbia, Canada company. Grey Hawk owns a non-operated working interest in two non-producing wells in the southern portion of the Natural Buttes Field. On December 30, 2016, concurrent with the TBL transaction, the Company also acquired the remaining 25% membership interests in TEPI from Green Stone Capital Partners Limited, a Cayman Islands limited liability company, in exchange for assumption of Greenstone’s proportionate share of TEPI obligations and liabilities.

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2016
Notes Payable [Abstract]
Notes Payable	Note 8 – Notes Payable On December 24, 2015, Foothills entered into a convertible promissory note in the amount of $600,000 with Alternus. The two-year note matures on December 23, 2017, and accrues interest at 8% per year. By its terms the note was automatically required to convert the outstanding principal and interest due under the terms of the note upon a merger or other combination occurring between Foothills and an entity with shares listed for trading (“Pubco”). The conversion price in the note was established at $0.665 per share, (the “Conversion Price”). On April 5, 2016, and under substantially similar terms described herein, Foothills received an additional $400,000 from Alternus. Under the agreements between Alternus and Foothills, Alternus had the right but not the obligation to subscribe for an aggregate of up to $3,500,000 of convertible notes which, in the event of that full subscription would convert into not less than 30% of the outstanding shares of Pubco. At May 27, 2016, the date of the Share Exchange, Alternus had invested $1,000,000 and, based on the Conversion Price, 1,503,759 shares of Common Stock of Pubco (Key Link) were issued in full satisfaction of its two notes. Alternus transferred to Berwin Trading Limited its right to purchase the remaining $2,500,000 in equity in the Company at substantially the same terms as the conversion of the convertible note purchase agreement. Berwin agreed to purchase $2,000,000 or 3,007,519 common shares and completed the documents related to the purchase of equity on June 30, 2016, and funded its investment on July 6, 2016. The additional investment option has expired. On December 30, 2016, in connection with the TBL acquisition (see Note 5), Foothills entered into a promissory note in the amount of $6,000,000 with Total Belief Limited. This note matures on June 30, 2018, and accrues no interest during its term.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Common Stock	Note 9 – Common Stock On December 24, 2015, Foothills issued 4,500,000 shares of its common stock to Wilshire Energy Partners, LLC, as more fully discussed in Note 7 of these financial statements. On December 24, 2015, Foothills entered into a convertible promissory note in the amount of $600,000 with Alternus. The two-year note matures on December 23, 2017, and accrues interest at 8% per year. By its terms, the note was automatically required to convert the outstanding principal and interest due under the terms of the note upon a merger or other combination occurring between Foothills and an entity with shares listed for trading (“Pubco”). The conversion price of the note was established at $0.665 per share (the “Conversion Price”). On April 5, 2016, and under substantially similar terms described herein, Foothills received an additional $400,000 from Alternus. On May 27, 2016, the shareholders of Foothills entered into the Share Exchange Agreement with Key Link, pursuant to which the principal amount of the notes together with any accrued, but unpaid interest was converted into the shares of the Company at a conversion price of $0.665 per share. The total number of shares issued to Alternus pursuant to the conversion of their note was 1,503,759. All accrued interest was waived and recorded as additional paid in capital. Effective April 1, 2016, Foothills appointed two directors to its board. Each director was granted 125,000 shares of its common stock (the "Foothills Directors Shares"), vesting according to the following schedule: (i) 40% vesting ninety (90) days from the appointment date; (ii) 20% vesting one hundred eighty (180) days from the appointment date; (iii) 20% vesting two hundred seventy (270) days following the appointment date; (iv) 20% vesting three hundred sixty (360) days following the Effective Date. As of December 31, 2016, 100,000 shares were issued to each director. These shares were valued at $1,665. On May 2, 2016, Foothills Petroleum Inc., a Nevada corporation ("FPI”) acquired 14,112,250 pre-split shares of the common stock of Key Link Assets Corp. (“Key Link” or the “Company”) from five persons constituting approximately 96% of our issued and outstanding shares (the "FPI Acquired Shares"). These shares were acquired for cash of $316,035, which was expensed in the period it was incurred. As of May 16, 2016, we effected a 4:1 forward split of our shares of common stock. All references to the number of shares issued and outstanding in these financial states have been retrospectively restated for the forward split. The 14,112,250 pre-split shares were converted into 56,449,000 shares post-split, and were returned to treasury for cancellation. A total of 2,360,000 shares remained outstanding held by the shareholders of the merged public company post the reverse merger acquisition. On May 2, 2016, after obtaining the FPI Acquired Shares, FPI caused the Company to appoint its two non-executive directors to the Board of the Company. These directors exchanged their rights to the FPI Directors Shares for Company shares having substantially the same terms and provisions. On May 2, 2016, the Company also granted 150,000 restricted shares of its common stock to its CEO as a part of his compensation package. The shares have the same vesting schedule as directors’ shares described above. As of December 31, 2016, 120,000 shares were issued to the Company’s CEO. These shares were valued at $999. During the year ended December 31, 2016, the Company issued 5,000 shares to a service provider pursuant to a consulting agreement with said service provider. The shares were valued at $7,650. On May 27, 2016, we entered into a Share Exchange Agreement ("Share Exchange Agreement") with the shareholders of FPI whereby we acquired all of the outstanding shares of FPI for an aggregate of 6,003,759 shares of our common stock, of which 4,500,000 shares of our common stock were issued to Wilshire Energy Partners, LLC, ("Wilshire") and 1,503,759 of our shares of common stock were issuable to Alternus (“Share Exchange”). As a result of the Share Exchange, FPI became our wholly owned subsidiary and the FPI Acquired Shares were to be returned to treasury, deemed canceled and no longer outstanding. We also exchanged warrants to purchase 700,000 shares of Foothills’ common stock, that were issued to Wilshire on May 4, 2016, for a like amount of warrants to purchase shares of the Company’s common stock (the "Wilshire Warrants"). The Wilshire Warrants: • have a term of five years; • are exercisable at $1.25 per share as to 100,000 shares; • are exercisable at $2.00 per share as to 200,000 shares; • are exercisable at $3.00 per share as to 400,000 shares; • do not have a cashless exercise feature; and • are not exercisable for one year. On June 30, 2016, we entered into a Securities Purchase Agreement with Berwin Trading Limited, a British Virgin Islands company (“Berwin”), pursuant to which we sold and agreed to issue 3,007,519 shares of our common stock, $0.0001 par value, at a purchase price of $0.665 per share for an aggregate amount of $2,000,000. On December 30, 2016, we issued 2,083,334 shares of common stock in connection with the TBL acquisition (see Note 7), at a purchase price of $1.83 per share for an aggregate amount of $3,812,500. As of December 31, 2016, the Company had 13,779,612 shares of common stock issued and outstanding. Restricted Stock Units (RSUs) Effective August 11, 2016, and on August 15, 2016, Foothills granted Mr. Lanclos 100,000 restricted stock units (RSUs) of the Company of which (i) 20,000 shall vest 180 days from August 15, 2016, (ii) another 20,000 shall vest 270 days from August 15, 2016, and (iii) the remaining 60,000 shall vest 365 days from August 15, 2016. The Company has a right, but not an obligation to repurchase all or any portion of RSUs granted to the executive at a purchase price of $0.665 per share if executive’s employment with the Company is terminated for any reason within 30 months of start of employment on August 15, 2015. As of December 31, 2016, these shares were valued at $26,066. On August 15, 2016, Foothills also granted Mr. Ovalle 100,000 restricted stock units (RSUs) of the Company of which (i) 20,000 shall vest 180 days from August 15, 2016, (ii) another 20,000 shall vest 270 days from August 15, 2016, and (iii) the remaining 60,000 shall vest 365 days from August 15, 2016. The Company has a right, but not an obligation to repurchase all or any portion of RSUs granted to the executive at a purchase price of $0.665 per share if executive’s employment with the Company is terminated for any reason within 30 months of start of employment on August 15, 2015. As of December 31, 2016, these shares were valued at $25,333. Warrants On May 27, 2016, the Company granted to Wilshire Energy Partners, LLC, warrants (“Wilshire Warrants”) to purchase (i) 100,000 common shares at a strike price of $1.25 per share, (ii) 200,000 common shares at a strike price of $2.00 per share and (iii) 400,000 common shares at a strike price of $3.00 per share. The Wilshire Warrants commence to be exercisable on the earlier of (i) 12-month anniversary of the closing of a going public transaction or (ii) June 30, 2017, and expire on June 1, 2021. On May 27, 2016, the Company granted to an unrelated party warrants to purchase (i) 125,000 common shares at a strike price of $1.25 per share, (ii) 100,000 common shares at a strike price of $2.00 per share and (iii) 100,000 common shares at a strike price of $3.00 per share. The warrants commence to be exercisable on the earlier of (i) 12-month anniversary of the closing of a going public transaction or (ii) June 30, 2017, and expire on June 1, 2021. The fair value of all warrants was determined to be $2,144, using the Black-Scholes option-pricing model based on the following assumptions: (i) volatility rate of 120%, (ii) discount rate of 0%, (iii) zero expected dividend yield, and (iv) expected life of 5 years. The following table summarizes all stock warrant activity for the year ended December 31, 2016: Number of Weighted Weighted Balance outstanding, December 31, 2015 - $ - - Granted 1,025,000 2.32 4.42 Exercised - - - Cancelled or expired - - - Balance outstanding, December 31, 2016 1,025,000 $ 2.32 4.42 Exercisable, December 31, 2016 - $ - - Options On May 19, 2016, the Company granted to each of its three directors options to purchase (i) 50,000 common shares at a strike price of $2 per share, vesting when the Company achieves and maintains a total average daily production level of 100 barrels of oil equivalent per day (“boe/d”) for at least 30 days, (ii) 50,000 common shares at a strike price of $3 per share, vesting when the Company achieves and maintains a total average daily production level of 200 boe/d for at least 60 days, and (iii) 50,000 common shares at a strike price of $4 per share, vesting when the Company achieves and maintains a total average daily production level of 500 boe/d for at least 90 days. The following table summarizes all stock option activity for the year ended December 31, 2016: Number of Weighted Weighted Balance outstanding, December 31, 2015 - $ - - Granted 450,000 3.00 9.39 Exercised - - - Cancelled or expired - - - Balance outstanding, December 31, 2016 450,000 $ 3.00 9.39 Exercisable, December 31, 2016 - $ - -

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Note 10 – Related Party Transactions Wilshire Energy Partners, LLC, and Aegis International, LLC Effective as of December 18, 2015, in connection with the then formation and organization of Foothills Petroleum Inc., Wilshire Energy Partners, LLC (“Wilshire”), Aegis International, LLC (“Aegis”), and Foothills entered into a Business Development Services Agreement (“BDSA”). Under the BDSA the parties agreed that: 1. Wilshire would transfer its 100% membership interest in Foothills Exploration LLC, a Wyoming limited liability company (“FEL”) to Foothills, and that Foothills would issue 4.5 million shares of its common stock to Wilshire on its organization or as soon thereafter as may be practicable. 2. Wilshire would endeavor in good faith, with the assistance of Aegis, to obtain $3 million to $3.5 million of financing in the form of equity and/or convertible notes to implement the business plan that was under formation on behalf of Foothills. 3. Aegis would perform the following business development services: • provide senior management principally in the form of services of B.P. Allaire; • deliver or oversee administrative services on day to day basis; • assist in securing a chief financial officer; • formulate, craft and deliver a detailed business plan including forecasts; • formulate or assist in formulating, budgets and other financial information; • recruit or assist in recruiting experienced executive directors with proven track records whose backgrounds will be attractive to the oil and gas community and potential investors; • create and deliver a website that depicts the Foothills operations; and • provide such other services as may be appropriate and necessary to implement and execute upon the business plan of Foothills. 4. For its services as outlined under the BDSA, Foothills would pay to Aegis from funds received, $150,000 through December 31, 2016, (the “Foothills Initial Organizational Term”). As of December 31, 2016, this payment was made in full. 5. Following the Foothills Initial Organizational Term, Foothills on an at-will basis shall pay B.P. Allaire $5,000 per month for his services as chief operating officer and executive director, on terms subject to cancellation, on 30 days’ notice, by either of Foothills or B.P. Allaire. Effective September 1, 2016, the Company increased Mr. Allaire’s salary to $7,000 per month. 6. Wilshire would assign, effective no later than December 29, 2015, all right, title and interest in FEL in exchange for 4.5 million shares of common stock of Foothills. In furtherance of the BDSA, Wilshire assigned FEL to Foothills on its organization in exchange for 4.5 million shares of Foothills, and Foothills thereby acquired control of the Springs Prospect, owned by FEL, consisting of 38,120 contiguous acres. Foothills regards the Springs Prospect as a valuable multiple objective oil resource play in the Greater Green River Basin of Wyoming. Through Wilshire’s assistance, Foothills entered into two agreements with Alternus, whereby Foothills obtained a total of $1,000,000 of financing in the form of convertible notes that upon completion of the Share Exchange were converted, at $0.665 per share, into 1,503,759 shares of the Company’s common stock. In connection with the hiring of Ritchie Lanclos as Executive Vice President of the Company and Vice President of Exploration of FPI, and Eleazar Ovalle as Executive Vice President of the Company and Vice President of Geology and Geophysical of FPI, FPI agreed to pay Wilshire, one of our principal shareholders, pursuant to a Services Agreement entered into by and between FPI and Wilshire, a fee of 25% of the gross annual salary, including all cash and equity compensation, but excluding any bonuses to be received by Mr. Lanclos and Mr. Ovalle. In the event either of Mr. Lanclos or Mr. Ovalle leaves FPI of his own volition or is terminated for cause within 90 days from commencement of their employment, Wilshire shall refund FPI 100% of fees received, minus $2,500. Alternus Capital Holdings Limited On December 24, 2015, FPI entered into a convertible promissory note in the amount of $600,000 with Alternus. The two-year note originally matured on December 23, 2017, and accrued interest at 8% per year. By its terms the note was automatically required to convert the outstanding principal and interest due under the terms of the note upon a merger or other combination occurring between FPI and an entity with shares listed for trading, which occurred on May 27, 2016. The conversion price of the note was established at $0.665 per share (the “Conversion Price”), subject to adjustment as described below. On April 5, 2016, and under substantially similar terms described herein, FPI received an additional $400,000 from Alternus. Under the agreements between Alternus and Foothills, Alternus had the right but not the obligation to subscribe for an aggregate of up to $3,500,000 of convertible notes, which, in the event of that full subscription, would convert into not less than 30% of the then outstanding shares of the “public” company. Through May 27, 2016, the date the Share Exchange, Alternus had invested $1,000,000 and based on the Conversion Price was issued 1,503,759 shares of the Company’s common stock in full satisfaction of its two notes. All accrued interest was waived and recorded as additional paid in capital. On December 30, 2016, Foothills, through its indirect wholly owned subsidiary Foothills Exploration Operating, Inc. (“FEOI”), entered into a purchase and sale agreement with Total Belief Limited (see Note 5). The Company acquired $10,600 related party payable due to Equipment Solution Inc., which is owned by a director of the Company, Mr. Hemb,

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Note 11 - Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets as of December 31, 2016, and 2015 are summarized below. In assessing the potential realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the Company attaining future taxable income during the periods in which those temporary differences become deductible. As of December 31, 2016, and 2015, management was unable to determine if it is more likely than not that the Company’s deferred tax assets will be realized, and has therefore recorded an appropriate valuation allowance against deferred tax assets at such dates. No federal tax provision has been provided for the years ended December 31, 2016, and 2015 due to the losses incurred during such periods. Reconciled below is the difference between the income tax rate computed by applying the U.S. federal statutory rate and the effective tax rate for the years ended December 31, 2016, and 2015. 2016 2015 Net operating loss carryforward $ (671,362 ) $ (11,375 ) Stock based compensation 3,931 - Fair value of options 281 - Total deferred tax assets (667,150 ) (11,375 ) Valuation allowance $ 667,150 $ 11,375 Net deferred tax asset - - 2016 2015 U.S federal statutory income tax -34.00 % -34.00 % State tax, net of federal tax benefit -5.80 % -5.80 % Stock based compensation 0.00 % 0.00 % Change in valuation allowance 39.80 % 39.80 % Effective tax rate 0.00 % 0.00 % At December 31, 2016, the Company has available net operating loss carryforwards for federal and state income tax purposes of approximately $667,150 and $11,375, respectively, which, if not utilized earlier, expire through 2036.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12 – Commitments and Contingencies On August 18, 2016, the Company appointed Ritchie Lanclos as Executive Vice President of the Company and as Vice President of Exploration of its wholly owned subsidiary, Foothills Petroleum, Inc. (“FPI”), and appointed Eleazar Ovalle as Executive Vice President of the Company and Vice President of Geology & Geophysical of FPI. FPI has agreed to pay Mr. Lanclos an annual salary of $84,000 upon successful completion of a 90 day probationary period. Mr. Lanclos was entitled to receive a $10,000 signing bonus upon commencement of employment and will also be entitled to receive bonuses that will be based on performance standards that will be established by FPI. Mr. Lanclos will receive 100,000 restricted stock units (RSUs) of the Company of which (i) 20,000 shall vest 180 days from August 15, 2016, (ii) another 20,000 shall vest 270 days from August 15, 2016, and (iii) the remaining 60,000 shall vest 365 days from August 15, 2016. Upon approval of the Company’s Board of Directors, Mr. Lanclos may become eligible to participate in the Company’s equity incentive plan, should one be established. FPI has agreed to pay Mr. Ovalle an annual salary of $84,000 upon successful completion of a 90 day probationary period. Mr. Ovalle was entitled to receive a $10,000 signing bonus upon commencement of employment and will also be entitled to receive bonuses that will be based on performance standards and goals that will be established by FPI. Mr. Ovalle will receive 100,000 restricted stock units (RSUs) of the Company of which (i) 20,000 shall vest 180 days from August 15, 2016, (ii) another 20,000 shall vest 270 days from August 15, 2016, and (iii) the remaining 60,000 shall vest 365 days from August 15, 2016. Upon approval by the Company’s Board of Directors, Mr. Ovalle may become eligible to participate in the Company’s equity incentive plan, should one be established. In connection with the hiring of Ritchie Lanclos and Eleazar Ovalle and pursuant to a Services Agreement dated August 15, 2016, by and between FPI and Wilshire, FPI agreed to pay Wilshire, one of our principal shareholders, a fee of 25% of the gross annual salary, including all cash and equity compensation, but excluding any bonuses to be received by Mr. Lanclos and Mr. Ovalle. FPI has agreed to pay Wilshire a total of $50,000 for its services in recruiting Messrs. Lanclos and Ovalle to the Company and FPI management teams. In the event either of Mr. Lanclos or Mr. Ovalle leaves FPI of his own volition or is terminated for cause within 90 days from commencement of their employment, Wilshire shall refund FPI 100% of fees received, minus $2,500. On September 2, 2016, Shawn P. Clark resigned as Interim Chief Financial Officer and member of the Board of Directors of Foothills. In connection with Mr. Clark’s resignation, there were no disagreements with the Company, known to an executive officer of the Company, as defined in 17 CFR 240.3b-7, on any matter relating to the Company’s operations, policies or practices.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 13 – Subsequent Event Effective January 5, 2017, Foothills Exploration, Inc., (the “Company”), borrowed $1,000,000 from Full Wealth Investment Hong Kong Limited, a limited liability company organized under the laws of Hong Kong and effective January 6, 2017, the Company borrowed $1,250,000 from Berwin Trading Limited, a British Virgin Islands limited liability company. The Company executed a separate promissory note, titled as a Debenture, with each lender dated as of December 30, 2016, with proceeds being received by the Company on the above stated dates. These loans are unsecured, bear interest at 9% per year and each is due and payable in 120 days from the receipt of funds. If any amount payable is not paid when due, any such overdue amount shall bear interest at the default rate of 11% from the date of such non-payment until such amount is paid in full. The Company plans to use net proceeds of these loans to satisfy certain obligations under a Purchase and Sale Agreement with Total Belief Limited, dated December 30, 2016, for general working capital and to support certain target drilling activity. Subsequent to March 31, 2016, we issued 175,000 shares of common stock to third parties for services.

Supplemental Oil and Gas Reserv

Supplemental Oil and Gas Reserve Information (Unaudited)	12 Months Ended
	Dec. 31, 2016
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Supplemental Oil and Gas Reserve Information (Unaudited)	Note 14 - Supplemental Oil and Gas Reserve Information (Unaudited) Results of operations from oil and gas producing activities The following table shows the results of operations from the Company’s oil and gas producing activities. For the year ended December 31, 2016, the Company had no revenue from oil and gas producing activities. Year Ended December 31, 2016 Production revenues $ — Production costs — Depletion and depreciation — Income tax — Results of operations for producing activities $ — Capitalized costs The following table summarizes the Company’s capitalized costs of oil and gas properties: Year Ended December 31, 2016 Properties subject to depletion $ 11,198,411 Accumulated depletion — Net capitalized costs $ 11,198,411 Costs incurred in property acquisition, exploration and development activities The following table summarizes the Company’s costs incurred in property acquisition, exploration and development activities for the year ended December 31, 2016: Year Ended December 31, 2016 Acquisition of properties $ 10,462,220 Exploration costs 736,191 Development costs — Net capitalized costs $ 11,198,411 Estimated quantities of proved reserves Our ownership interests in estimated quantities of proved oil and gas reserves all of which are located in the United States are summarized below. Proved reserves are estimated quantities of oil and gas that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Proved developed reserves are those that are expected to be recovered through existing wells with existing equipment and operating methods. Oil reserves are stated in thousands of standard barrels [“MSTB”], natural gas reserves are stated in thousands of cubic feet [“MCF”] and combined oil and gas reserves are stated in thousands of barrels of oil equivalent [“MBOE”]. Geological and engineering estimates of proved oil and gas reserves developed at one point in time by an independent third party petroleum reserves engineering firm are highly interpretive, inherently imprecise and subject to ongoing revisions that may be substantial in amount. Although every reasonable effort is made to ensure that the reserve estimates are accurate, by their nature reserve estimates are generally less precise than other estimates presented in connection with financial statement disclosures. December 31, 2016 Proved Reserves Total Proved Proved Total Beginning Crude Oil MSTB’s — — — Natural Gas Liquids MSTB’s — — — Natural Gas MCF’s — — — Oil Equivalents MBOE’s — — — Revisions of previous estimates Crude Oil MSTB’s — — — Natural Gas Liquids MSTB’s — — — Natural Gas MCF’s — — — Oil Equivalents MBOE’s — — — Sales of minerals in place Crude Oil MSTB’s - - - Production Crude Oil MSTB’s — - — Natural Gas Liquids MSTB’s — - — Natural Gas MCF’s — - — Oil Equivalents MBOE’s — - — Ending Crude Oil MSTB’s 193 1,429 1,622 Natural Gas Liquids MSTB’s — - — Natural Gas MMCF’s 97 714 811 Oil Equivalents MBOE’s 212.4 1,571.8 1,784.2 Proved non-producing and proved undeveloped reserves at December 31, 2016 totaled 212.4 MBOE’s and 1,571.8 MBOE’s, respectively. Total proved reserves at December 31, 2016 totaled 1,784.2 MBOE’s and consisted of approximately 91% oil and 9% gas. The Company intends to review annually its proved undeveloped reserves to ensure an appropriate plan for development exists. The Company considers proved undeveloped reserves only if it plans to convert these reserves to proved developed producing reserves within five years from the date they were first acquired. The Company plans to develop all the remaining locations that comprise the 1,784.2 MBOE of proved reserves within five years. However, the decision to deploy capital and the timing of those expenditures is contingent on many different factors. The Company estimates capital expenditures of approximately $19.75 million will be sufficient to develop these reserves. The development plan assumes a continued gradual improvement in commodity pricing and general market conditions within the oil and gas industry. The calculation of proved undeveloped reserves requires the Company to make predictions regarding future acquisitions and discoveries and the impact they may have on the Company’s overall development plan of properties it currently owns. Management anticipates that the development plan will be revised to reflect changes in the oil and gas industry, including changing markets and prices, new investment opportunities, and other key factors and such revisions will result in changes to its proved undeveloped reserves. Consequently, the timing of capital expenditures will be heavily dependent upon the Company’s interpretation of market opportunities, which are influenced by projections of future commodity prices and other key industry factors. Each year management expects to review our five-year development plan to maximize the value of our investment in oil and gas assets and in turn also to enhance shareholder value. At December 31, 2016, the Company expects its development plan to generally perform as follows: Estimated Conversion of CAPEX (000’s) MBOE 2017 $ 4,120.0 22.806 2018 $ 6,175.0 155.948 2019 $ 9,500.0 231.795 2020 — 270.064 2021 — 211.554 For the year ended December 31, 2016, the Company had no wells in production and earned no revenue from the sale of oil or natural gas. All properties were either proved non-producing or proved undeveloped. In 2016, the Company invested approximately $11,198,411 in its oil and gas properties. The Company has approximately $353,363 of net fixed assets on hand and existing infrastructure on the ground in Utah, which will be utilized to facilitate the exploitation and development of proved non-producing and proved undeveloped reserves over the next five years. At year end the Company’s review of proved undeveloped reserves revealed challenges but the Company maintains its belief that reserves will be developed within five years of their acquisition. In addition, the Company anticipates raising additional funds through the sale of common stock, debt and cash generated from the Company’s financing activities, including public, private and institutional offerings in capital market transactions and future reserve based lending activities to develop all of its proved non-producing and proved undeveloped reserves within the next five-years. Additionally, the Company also believes that it has the ability to joint venture to develop any of its assets. Standardized measure of discounted future net cash flows The standardized measure of discounted future net cash flows from our proved non-producing and proved undeveloped reserves for the periods presented in the financial statements is summarized below. Year Ended December 31, 2016 Future net production revenue $ 74,093,600 Future operating costs (17,313,400 ) Future capex costs (19,750,000 ) Future net cash flows before tax 37,030,200 Future income taxes ( assuming 34% corporate tax rate (12,590,268 ) Future net cash flows after tax 24,439,932 10% annual discount for estimating of future cash flows (14,908,800 ) Standardized measure of discounted net future cash flows $ 9,531,132 Changes in standardized measure of discounted future net cash flows For the year ended December 31, 2016, the Company had no wells in production and earned no revenue from the sale of oil or natural gas. All assets were recently acquired and the Company has had a limited operating history with its current asset base and as such is unable to form reasonable estimates at the present time. The Company expects to update this section in subsequent reports providing more substantive explanations for changes in its standardized measure of discounted future net cash flows.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The financial statements include the accounts of Foothills Exploration, Inc., and all of its direct and indirect wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated in consolidation.
Basis of Presentation and Functional Currency	Basis of Presentation and Functional Currency These consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States of America, and are expressed in United States dollars (USD).
Exploration Stage	Exploration Stage The Company has not produced revenues from its principal business and is still in the exploration stage. The Company is engaged in the acquisition, exploration, development and production of oil and gas properties. As of December 31, 2016, the Company had acquired the rights to 45,648 acres of oil and gas property in the state of Wyoming, excluding 6,115 acres of Ironwood prospect that are subject to drilling a well in 2017, through its transaction with the shareholders of Foothills, its farmout agreement with Koch Exploration Company, and other acquisitions made by the Company since its inception.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 reported periods. Actual results could materially differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The carrying value of those investments approximates their fair market value due to their short maturity and liquidity. Cash and cash equivalents include cash on hand and amount on deposit with financial institutions, which amounts may at times exceed federally insured limits. The Company has not experienced any losses on such accounts and it does not believe it is exposed to any significant credit risk. As of December 31, 2016, the Company had no cash equivalents.
Restricted Cash	Restricted Cash Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are recorded in restricted cash
Oil and Gas Properties	Oil and Gas Properties The Company follows the full cost method of accounting for its investments in oil and gas properties. Under the full cost method, all costs associated with the exploration of properties are capitalized into appropriate cost centers within the full cost pool. Internal costs that are capitalized are limited to those costs that can be directly identified with acquisition, exploration, and development activities undertaken and do not include any costs related to production, general corporate overhead, or similar activities. Cost centers are established on a country-by-country basis. Capitalized costs within the cost centers are amortized on the unit-of-production basis using proved oil and gas reserves. The cost of investments in unevaluated properties and major development projects are excluded from capitalized costs to be amortized until it is determined whether or not proved reserves can be assigned to the properties. Until such a determination is made, the properties are assessed annually to ascertain whether impairment has occurred. The costs of drilling exploratory dry holes are included in the amortization base immediately upon determination that the well is dry. For each cost center, capitalized costs are subject to an annual ceiling test, in which the costs shall not exceed the cost center ceiling. The cost center ceiling is equal to: (i) the present value of estimated future net revenues computed by applying current prices of oil and gas reserves (with consideration of price changes only to the extent provided by contractual arrangements) to estimated future production of proved oil and gas reserves as of the date of the latest balance sheet presented, less estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves computed using a discount factor of ten percent and assuming continuation of existing economic conditions; plus (ii) the cost of properties not being amortized; plus (iii) the lower of cost or estimated fair value of unproven properties included in the costs being amortized; and less (iv) income tax effects related to differences between the book and tax basis of the properties. If unamortized costs capitalized within a cost center, less related deferred income taxes, exceed the cost center ceiling, the excess is charged to expense and separately disclosed during the period in which the excess occurs. The Company will perform this test no less than each fiscal year beginning in 2017.
Capitalization of Fixed Assets	Capitalization of Fixed Assets The Company capitalizes expenditures related to property and equipment, subject to a minimum rule, that have a useful life greater than one year for: (1) assets purchased; (2) existing assets that are replaced, improved or the useful lives have been extended; or (3) all land, regardless of cost. Acquisitions of new assets, additions, replacements and improvements (other than land) costing less than the minimum rule in addition to maintenance and repair costs, including any planned major maintenance activities, are expensed as incurred. Office equipment – 3 years Vehicle – 5 years Drill equipment – 7 years Oil and gas properties – 20 years
Asset Retirement Obligations	Asset Retirement Obligations The asset retirement obligation relates to the plug and abandonment costs when its wells are no longer useful. The Company determines the value of the liability by obtaining quotes for this service and then estimating the increase it will face in the future. The Company then discounts the future value based on an intrinsic interest rate that is appropriate. If costs rise more than what was expected there could be additional future charges, however, Foothills monitors the costs of the abandoned wells and intends to adjust this liability as required.
Fair Value of Financial Instruments	Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash and equivalents, restricted cash, accounts receivable, accounts payable, accrued liabilities and short-term debt, the carrying amounts approximate their fair values due to their short maturities. ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the consolidated balance sheets for receivables and current liabilities 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 three levels of valuation hierarchy are defined as follows: • Level 1, defined as observable inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. Level 2, defined as 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 defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. As of December 31, 2016, the Company did not identify any assets and liabilities that are required to be presented on the balance sheet at fair value.
Net Earnings (Loss) Per Common Share	Net Earnings (Loss) Per Common Share The Company computes earnings per share under ASC 260-10, “Earnings Per Share.” Basic earnings (loss) per share is computed by dividing the net income (loss) attributable to the common stockholders (the numerator) by the weighted average number of shares of common stock outstanding (the denominator) during the reporting periods. Diluted loss per share is computed by increasing the denominator by the weighted average number of additional shares that could have been outstanding from securities convertible into common stock (using the “treasury stock” method), unless their effect on net loss per share is anti-dilutive. There were 1,475,000 potentially dilutive shares, which include outstanding warrants and options, for the period ended December 31, 2016. The potential shares are excluded from the determination of basic and diluted net loss per share as their effect is anti-dilutive.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Stock-Based Compensation	Stock-Based Compensation All share-based payments, including grants of stock to employees, directors and consultants, are recognized in the consolidated financial statements based upon their estimated fair values. The Company’s accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services follows ASC Topic 505. As such, the value of the applicable stock-based compensation is periodically re-measured and income or expense is recognized during their vesting terms. The measurement date for the fair value of the equity instruments issued is determined at the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is primarily recognized over the term of the consulting agreement. In accordance with FASB guidance, an asset acquired in exchange for the issuance of fully vested, non-forfeitable equity instruments should not be presented or classified as an offset to equity on the grantor’s balance sheet once the equity instrument is granted for accounting purposes.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2015, the FASB issued Accounting Standards Update No. 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Improvements to Employee Share-Based Payment Accounting In January 2017, the FASB issued Accounting Standards Update No. 2017-01, Clarifying the Definition of a Business In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment 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.

Acquisition (Tables)

Acquisition (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Schedule of total purchase price for TBL acquisition	The total purchase price for the TBL acquisition was allocated as follows: Assets Cash $ 358,130 Cash in escrow 240,000 Oil & gas properties 10,016,990 Drilling equipment 265,578 Investment 100 Bond deposits 295,000 Liabilities Accounts payable (389,325 ) Contingent Liabilities (213,372 ) Related party payable (10,600 ) Net assets acquired $ 10,562,501

Fixed Assets (Tables)

Fixed Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of fixed assets	As of December 31, 2016, and 2015, fixed assets consisted of the following: December 31, 2016 December 31, 2015 Computer equipment and fixtures $ 22,453 $ - Vehicle 69,446 - Drilling Equipment 265,578 - Accumulated depreciation (4,114 ) - Fixed assets, net $ 353,363 $ -

Common Stock (Tables)

Common Stock (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock warrant activity	The following table summarizes all stock warrant activity for the year ended December 31, 2016: Number of Weighted Weighted Balance outstanding, December 31, 2015 - $ - - Granted 1,025,000 2.32 4.42 Exercised - - - Cancelled or expired - - - Balance outstanding, December 31, 2016 1,025,000 $ 2.32 4.42 Exercisable, December 31, 2016 - $ - -
Schedule of stock option activity	The following table summarizes all stock option activity for the year ended December 31, 2016: Number of Weighted Weighted Balance outstanding, December 31, 2015 - $ - - Granted 450,000 3.00 9.39 Exercised - - - Cancelled or expired - - - Balance outstanding, December 31, 2016 450,000 $ 3.00 9.39 Exercisable, December 31, 2016 - $ - -

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets	2016 2015 Net operating loss carryforward $ (671,362 ) $ (11,375 ) Stock based compensation 3,931 - Fair value of options 281 - Total deferred tax assets (667,150 ) (11,375 ) Valuation allowance $ 667,150 $ 11,375 Net deferred tax asset - -
Schedule of federal statutory rate and effective tax rate	Reconciled below is the difference between the income tax rate computed by applying the U.S. federal statutory rate and the effective tax rate for the years ended December 31, 2016, and 2015. 2016 2015 U.S federal statutory income tax -34.00 % -34.00 % State tax, net of federal tax benefit -5.80 % -5.80 % Stock based compensation 0.00 % 0.00 % Change in valuation allowance 39.80 % 39.80 % Effective tax rate 0.00 % 0.00 %

Supplemental Oil and Gas Rese26

Supplemental Oil and Gas Reserve Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Schedule of results of operations from oil and gas producing activities	The following table shows the results of operations from the Company’s oil and gas producing activities. For the year ended December 31, 2016, the Company had no revenue from oil and gas producing activities. Year Ended December 31, 2016 Production revenues $ — Production costs — Depletion and depreciation — Income tax — Results of operations for producing activities $ —
Schedule of capitalized costs	The following table summarizes the Company’s capitalized costs of oil and gas properties: Year Ended December 31, 2016 Properties subject to depletion $ 11,198,411 Accumulated depletion — Net capitalized costs $ 11,198,411
Schedule of costs incurred in property acquisition, exploration and development activities	The following table summarizes the Company’s costs incurred in property acquisition, exploration and development activities for the year ended December 31, 2016: Year Ended December 31, 2016 Acquisition of properties $ 10,462,220 Exploration costs 736,191 Development costs — Net capitalized costs $ 11,198,411
Schedule of estimated quantities of proved reserves	Although every reasonable effort is made to ensure that the reserve estimates are accurate, by their nature reserve estimates are generally less precise than other estimates presented in connection with financial statement disclosures. December 31, 2016 Proved Reserves Total Proved Proved Total Beginning Crude Oil MSTB’s — — — Natural Gas Liquids MSTB’s — — — Natural Gas MCF’s — — — Oil Equivalents MBOE’s — — — Revisions of previous estimates Crude Oil MSTB’s — — — Natural Gas Liquids MSTB’s — — — Natural Gas MCF’s — — — Oil Equivalents MBOE’s — — — Sales of minerals in place Crude Oil MSTB’s - - - Production Crude Oil MSTB’s — - — Natural Gas Liquids MSTB’s — - — Natural Gas MCF’s — - — Oil Equivalents MBOE’s — - — Ending Crude Oil MSTB’s 193 1,429 1,622 Natural Gas Liquids MSTB’s — - — Natural Gas MMCF’s 97 714 811 Oil Equivalents MBOE’s 212.4 1,571.8 1,784.2
Schedule of development plan	At December 31, 2016, the Company expects its development plan to generally perform as follows: Estimated Conversion of CAPEX (000’s) MBOE 2017 $ 4,120.0 22.806 2018 $ 6,175.0 155.948 2019 $ 9,500.0 231.795 2020 — 270.064 2021 — 211.554
Schedule of standardized measure of discounted future net cash flows	The standardized measure of discounted future net cash flows from our proved non-producing and proved undeveloped reserves for the periods presented in the financial statements is summarized below. Year Ended December 31, 2016 Future net production revenue $ 74,093,600 Future operating costs (17,313,400 ) Future capex costs (19,750,000 ) Future net cash flows before tax 37,030,200 Future income taxes ( assuming 34% corporate tax rate (12,590,268 ) Future net cash flows after tax 24,439,932 10% annual discount for estimating of future cash flows (14,908,800 ) Standardized measure of discounted net future cash flows $ 9,531,132

Nature of the Business (Details

Nature of the Business (Details Narrative)	Dec. 30, 2016aLocationWellshares	May 27, 2016shares	May 16, 2016	Dec. 24, 2015ashares	Dec. 31, 2016USD ($)a	Dec. 12, 2016USD ($)a	May 02, 2016shares	Mar. 29, 2016USD ($)a	Dec. 31, 2015USD ($)
Forward stock split ratio			4:1
Oil and gas properties | $					$ 11,198,411				$ 72,430
Total Belief Limited [Member] | UTAH (Uinta Basin) [Member]
Area of oil and gas property | a	6,000
Number of proven undeveloped drilling locations | Location	30
Maximum area of oil and gas property acquired | a	6,000
Maximum number of shut-in oil and gas wells | Well	16
Ladysmith Anticline [Member]
Area of oil and gas property | a								3,061
Oil and gas properties | $								$ 20,000
Percentage of ownership interest acquired								35.00%
Maximum per- acquisition percent								75.00%
Wilshire Energy Partners, LLC [Member]
Percentage of voting interest acquired by parent				100.00%
Number of shares issued upon acquisition		4,500,000		4,500,000
Area of oil and gas property | a				41,421	45,648
Oil and gas properties | $									$ 72,430
Share Exchange Agreement [Member]
Percentage of voting interest acquired by parent					52.00%
Share Exchange Agreement [Member] | Wilshire Energy Partners, LLC [Member]
Number of shares issued upon acquisition		4,500,000
Share Exchange Agreement [Member] | Alternus Capital Holdings Ltd. [Member]
Number of shares issued upon acquisition		1,503,759
Foothills Petroleum Inc [Member]
Number of acquired shares pre-split							14,100,000
Number of acquired shares post-split							56,449,000
Percentage of voting interest acquired by parent							96.00%
Foothills Petroleum Inc [Member] | Share Exchange Agreement [Member]
Number of shares issued upon acquisition		6,003,759
Foothills Petroleum Inc [Member] | Participation Agreement [Member] | Magna Operating, LLC [Member]
Area of oil and gas property | a						240
Oil and gas properties | $						$ 144,000
Plugging and abandonment liability | $						$ 1,100,000
Grey Hawk Exploration, Inc [Member] | Total Belief Limited [Member]
Number of shares issued upon acquisition	13,166,667
Percentage of ownership interest acquired	55.63%
Green Stone Capital Partners Limited [Member] | Tiger Energy Partners International, LLC [Member]
Percentage of remaining ownership interest acquired	25.00%

Nature of the Business (Detai28

Nature of the Business (Details Narrative 1)	Jan. 06, 2017USD ($)	Jan. 05, 2017USD ($)	Dec. 31, 2016USD ($)a	Dec. 24, 2015a
Promissory Note Due June 30, 2018 [Member] | Total Belief Limited [Member]
Debt principal amount			$ 6,000,000
Wilshire Energy Partners, LLC [Member]
Area of oil and gas property | a			45,648	41,421
Subsequent Event [Member] | Berwin Trading Limited [Member] | 9% Unsecured Debenture [Member]
Debt principal amount	$ 1,250,000
Subsequent Event [Member] | Full Wealth Investment Hong Kong Limited [Member] | 9% Unsecured Debenture Due April 30, 2017 [Member]
Debt principal amount		$ 1,000,000

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated loss	$ (1,974,594)	$ (33,456)
Working capital deficit	1,083,783
Additional capital	$ 5,000,000

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Details Narrative)	12 Months Ended
	Dec. 31, 2016USD ($)ashares	Dec. 31, 2015USD ($)	Dec. 24, 2015a
Area of oil and gas property for Ironwood prospect	6,115
Restricted cash | $	$ 240,000	$ 25,000
Number of anti-dilutive shares | shares	1,475,000
Office Equipment [Member]
Useful life	3 years
Vehicles [Member]
Useful life	5 years
Drill Equipment [Member]
Useful life	7 years
Oil and Gas Properties [Member]
Useful life	20 years
Wilshire Energy Partners, LLC [Member]
Area of oil and gas property	45,648		41,421

Share Exchange Agreement (Detai

Share Exchange Agreement (Details Narrative) - USD ($)	May 27, 2016	May 16, 2016	May 02, 2016	Dec. 24, 2015	Dec. 31, 2016	Dec. 31, 2015
Forward stock split ratio		4:1
Number of outstanding shares					13,779,612	4,500,000
Preferred stock, authorized					25,000,000	25,000,000
Warrants [Member]
Number of warrants to purchase					1,025,000
Warrant exercisable price (in dollars per share)					$ 2.32
Wilshire Energy Partners, LLC [Member]
Percentage of ownership interest				100.00%
Number of shares issued upon acquisition	4,500,000			4,500,000
Wilshire Energy Partners, LLC [Member] | Warrants [Member]
Number of warrants to purchase	700,000
Warrant term	5 years
Warrant minimum exercisable term	1 year
Wilshire Energy Partners, LLC [Member] | Warrants One [Member]
Number of warrants to purchase	100,000
Warrant exercisable price (in dollars per share)	$ 1.25
Wilshire Energy Partners, LLC [Member] | Warrants Two [Member]
Number of warrants to purchase	200,000
Warrant exercisable price (in dollars per share)	$ 2
Wilshire Energy Partners, LLC [Member] | Warrants Third [Member]
Number of warrants to purchase	400,000
Warrant exercisable price (in dollars per share)	$ 3
Share Exchange Agreement [Member]
Percentage of ownership interest					52.00%
Number of outstanding shares					8,363,759
Share Exchange Agreement [Member] | Wilshire Energy Partners, LLC [Member]
Number of shares issued upon acquisition	4,500,000
Share Exchange Agreement [Member] | Alternus Capital Holdings Ltd. [Member]
Number of shares issued upon acquisition	1,503,759
Share Exchange Agreement [Member] | Wilshire Energy Partners, LLC & Alternus Capital Holdings Ltd. [Member]
Number of outstanding shares					6,003,759
Foothills Petroleum Inc [Member]
Number of acquired shares pre-split			14,100,000
Number of acquired shares post-split			56,449,000
Percentage of ownership interest			96.00%
Cost of shares acqusition			$ 316,035
Foothills Petroleum Inc [Member] | Share Exchange Agreement [Member]
Number of shares issued upon acquisition	6,003,759

Acquisition (Details)

Acquisition (Details) - Total Belief Limited [Member]	Dec. 31, 2016USD ($)
Assets
Cash	$ 358,130
Cash in escrow	240,000
Oil & gas properties	10,016,990
Drilling equipment	265,578
Investment	100
Bond deposits	295,000
Liabilities
Accounts payable	(389,325)
Contingent Liabilities	(213,372)
Related party payable	(10,600)
Net assets acquired	$ 10,562,501

Acquisition (Details Narrative)

Acquisition (Details Narrative)	Dec. 30, 2016USD ($)a$ / sharesshares	Dec. 31, 2016USD ($)
Cash payment		$ 75,000
Total Belief Limited [Member]
Cash held in escrow		240,000
Purchase price	$ 10,750,000
Cash payment	75,000
Additional cash payment	$ 675,000
Total Belief Limited [Member] | Promissory Note Due June 30, 2018 [Member]
Debt principal amount		$ 6,000,000
Total Belief Limited [Member] | Restricted Common Stock [Member]
Number of shares issued upon acquisition | shares	2,083,334
Share price (in dollars per share) | $ / shares	$ 1.83
Number of shares issued upon acquisition,value	$ 3,812,500
Number of shares issued upon acquisition to parties,value	$ 4,000,000
Share price to parties (in dollars per share) | $ / shares	$ 1.92
Total Belief Limited [Member] | Golden Giants Limited (Clear Elite Holdings Limited) [Member\
Percentage of ownership interest acquired	100.00%
Total Belief Limited [Member] | Golden Giants Limited (Clear Elite Holdings Limited) [Member\ | Promissory Note [Member]
Debt principal amount	$ 3,422,353
Total Belief Limited [Member] | NTE-Utah, LLC [Member]
Percentage of ownership interest acquired	100.00%
Total Belief Limited [Member] | Tiger Energy Operating, LLC [Member]
Percentage of ownership interest acquired	100.00%
Total Belief Limited [Member] | Tiger Energy Mineral Leasing, LLC [Member]
Percentage of ownership interest acquired	100.00%
Area of oil and gas property | a	280
Total Belief Limited [Member] | Tiger Energy Partners International, LLC [Member]
Percentage of ownership interest acquired	75.00%
Number of membership units acquired | shares	75
Cash held in escrow	$ 240,000
Total Belief Limited [Member] | Grey Hawk Exploration, Inc [Member]
Percentage of ownership interest acquired	55.63%
Number of shares issued upon acquisition | shares	13,166,667
Tiger Energy Partners International, LLC [Member] | Green Stone Capital Partners Limited [Member]
Percentage of remaining ownership interest acquired	25.00%

Fixed Assets (Details)

Fixed Assets (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Accumulated depreciation	$ (4,114)
Fixed assets, net	353,363
Computer Equipment And Fixtures [Member]
Fixed assets, gross	22,453
Vehicles [Member]
Fixed assets, gross	69,446
Drilling Equipment [Member]
Fixed assets, gross	$ 265,578

Fixed Assets (Details Narrative

Fixed Assets (Details Narrative) - USD ($)	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense		$ 4,114	$ 0

Oil and Gas Properties (Details

Oil and Gas Properties (Details Narrative)	Dec. 30, 2016aLocationWellshares	May 27, 2016shares	Dec. 24, 2015ashares	Dec. 31, 2016USD ($)a	Dec. 12, 2016USD ($)a	May 02, 2016	Mar. 29, 2016USD ($)a	Dec. 31, 2015USD ($)
Oil and gas properties | $				$ 11,198,411				$ 72,430
Additional capitalized cost of asset | $				$ 55,848
Foothills Petroleum Inc [Member]
Percentage of ownership interest						96.00%
Ladysmith Anticline [Member]
Area of oil and gas property | a							3,061
Oil and gas properties | $							$ 20,000
Percentage of ownership interest acquired							35.00%
Maximum per- acquisition percent							75.00%
Total Belief Limited [Member] | UTAH (Uinta Basin) [Member]
Area of oil and gas property | a	6,000
Number of proven undeveloped drilling locations | Location	30
Maximum area of oil and gas property acquired | a	6,000
Maximum number of shut-in oil and gas wells | Well	16
Total Belief Limited [Member] | Grey Hawk Exploration, Inc [Member]
Number of shares issued upon acquisition | shares	13,166,667
Percentage of ownership interest acquired	55.63%
Tiger Energy Partners International, LLC [Member] | Green Stone Capital Partners Limited [Member]
Percentage of remaining ownership interest acquired	25.00%
Wilshire Energy Partners, LLC [Member]
Percentage of ownership interest			100.00%
Area of oil and gas property | a			41,421	45,648
Number of shares issued upon acquisition | shares		4,500,000	4,500,000
Oil and gas properties | $								$ 72,430
Area of land | a			38,120
Magna Operating, LLC [Member] | Participation Agreement [Member] | Foothills Petroleum Inc [Member]
Area of oil and gas property | a					240
Oil and gas properties | $					$ 144,000
Plugging and abandonment liability | $					$ 1,100,000

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	Jun. 30, 2016	May 27, 2016	Apr. 05, 2016	Dec. 31, 2015	Dec. 24, 2015	Dec. 30, 2016	Dec. 31, 2016
Procceds from common stock							$ 2,000,000
Alternus Capital Holdings Ltd. [Member] | 8% Convertible Promissory Note Due On December 23, 2017 [Member]
Debt principal amount			$ 400,000		$ 600,000
Debt instrument term					2 years
Debt conversion price (in dollars per share)					$ 0.665
Alternus Capital Holdings Ltd. [Member] | 8% Convertible Promissory Note Due On December 23, 2017 [Member]
Debt principal amount			$ 400,000
Debt conversion price (in dollars per share)		$ 0.665
Original debt converted amount		$ 1,000,000
Number of shares issued upon conversion		1,503,759
Description of agreement			Under the agreements between Alternus and FPI, Alternus had the right but not the obligation to subscribe for an aggregate of up to $3,500,000 of convertible notes which, in the event of that full subscription would convert into not less than 30% of the then outstanding shares of the “public” company.
Berwin Trading Limited [Member] | Securities Purchase Agreement [Member]
Description of agreement							Alternus transferred to Berwin Trading Limited its right to purchase the remaining $2,500,000 in equity in the Company at substantially the same terms as the conversion of the convertible note purchase agreement.
Procceds from common stock	$ 2,000,000
Number of shares issued	3,007,519
Total Belief Limited [Member]
Procceds from common stock						$ 3,812,500
Number of shares issued						2,083,334
Total Belief Limited [Member] | Securities Purchase Agreement [Member]
Debt principal amount						$ 6,000,000
Maturity date						Jun. 30, 2018

Common Stock (Details)

Common Stock (Details) - Warrants [Member]	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Class Of Warrant Or Right Outstanding [Roll Forward]
Balance outstanding, at beginning | shares
Granted | shares	1,025,000
Exercised | shares
Cancelled or expired | shares
Balance outstanding, at ending | shares	1,025,000
Exercisable, at ending | shares
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights [Roll Forward]
Balance outstanding, at beginning | $ / shares
Granted | $ / shares	2.32
Exercised | $ / shares
Cancelled or expired | $ / shares
Balance outstanding, at ending | $ / shares	2.32
Exercisable, at ending | $ / shares
Class Of Warrant Or Right Outstanding Weighted Average Remaining Life [Roll Forward]
Granted	4 years 5 months 1 day
Balance outstanding, at ending	4 years 5 months 1 day

Common Stock (Details 1)

Common Stock (Details 1)	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance outstanding, at beginning | shares
Granted | shares	450,000
Exercised | shares
Cancelled or expired | shares
Balance outstanding, at ending | shares	450,000
Exercisable, at ending | shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Balance outstanding, at beginning | $ / shares
Granted | $ / shares	3
Exercised | $ / shares
Cancelled or expired | $ / shares
Balance outstanding, at ending | $ / shares	3
Exercisable, at ending | $ / shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Remaining Contractual Term [Roll Forward]
Granted	9 years 4 months 20 days
Balance outstanding, at ending	9 years 4 months 20 days

Common Stock (Details Narrative

Common Stock (Details Narrative) - USD ($)	Aug. 18, 2016	May 27, 2016	May 16, 2016	May 02, 2016	Apr. 01, 2016	Dec. 24, 2015	Dec. 31, 2016	Apr. 05, 2016
Number of shares granted, value							$ 2,662
Forward stock split ratio			4:1
Consulting Agreement [Member]
Number of shares granted							5,000
Number of shares granted, value							$ 7,650
Foothills Petroleum Inc [Member]
Number of acquired shares pre-split				14,100,000
Percentage of voting interest acquired by parent				96.00%
Number of acquired shares pre-split, value				$ 316,035
Number of acquired shares post-split				56,449,000
Number of shares retained after post-split				2,360,000
Wilshire Energy Partners, LLC [Member]
Number of shares issued upon acquisition		4,500,000				4,500,000
Percentage of voting interest acquired by parent						100.00%
Alternus Capital Holdings Ltd. [Member] | 8% Convertible Promissory Note [Member]
Debt principal amount						$ 600,000
Description of debt maturity						The two-year note matures on December 23, 2017, and accrues interest at 8% per year.
Debt conversion price (in dollars per share)						$ 0.665
Alternus Capital Holdings Ltd. [Member] | 8% Convertible Promissory Note Due On December 23, 2017 [Member]
Debt principal amount								$ 400,000
Debt conversion price (in dollars per share)		$ 0.665
Number of shares issued upon conversion		1,503,759
Director One [Member]
Number of shares granted					125,000		100,000
Description of vesting period					(i) 40% vesting ninety (90) days from the appointment date; (ii) 20% vesting one hundred eighty (180) days from the appointment date; (iii) 20% vesting two hundred seventy (270) days following the appointment date; (iv) 20% vesting three hundred sixty (360) days following the Effective Date.
Number of shares granted, value							$ 1,665
Director Two [Member]
Number of shares granted					125,000		100,000
Description of vesting period					(i) 40% vesting ninety (90) days from the appointment date; (ii) 20% vesting one hundred eighty (180) days from the appointment date; (iii) 20% vesting two hundred seventy (270) days following the appointment date; (iv) 20% vesting three hundred sixty (360) days following the Effective Date.
Number of shares granted, value							$ 1,665
Mr. B.P. Allaire [Member]
Number of shares granted				150,000			120,000
Number of shares granted, value							$ 999
Mr. Ritchie Lanclos [Member] | Foothills Petroleum Inc [Member] | Restricted Stock Units (RSUs) [Member]
Number of shares issued	100,000
Purchase price (in dollars per share)	$ 0.665
Number of shares vested, value							26,066
Mr. Ritchie Lanclos [Member] | Foothills Petroleum Inc [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 1- 180 days [Member]
Number of shares vested	20,000
Mr. Ritchie Lanclos [Member] | Foothills Petroleum Inc [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 270 days [Member]
Number of shares vested	20,000
Mr. Ritchie Lanclos [Member] | Foothills Petroleum Inc [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 365 days [Member]
Number of shares vested	60,000
Mr.Eleazar Ovalle [Member] | Foothills Petroleum Inc [Member] | Restricted Stock Units (RSUs) [Member]
Number of shares issued	100,000
Purchase price (in dollars per share)	$ 0.665
Number of shares vested, value							$ 25,333
Mr.Eleazar Ovalle [Member] | Foothills Petroleum Inc [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 1- 180 days [Member]
Number of shares vested	20,000
Mr.Eleazar Ovalle [Member] | Foothills Petroleum Inc [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 270 days [Member]
Number of shares vested	20,000
Mr.Eleazar Ovalle [Member] | Foothills Petroleum Inc [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 365 days [Member]
Number of shares vested	60,000

Common Stock (Details Narrati41

Common Stock (Details Narrative 1) - USD ($)	Jun. 30, 2016	May 27, 2016	Dec. 31, 2015	Dec. 24, 2015	Dec. 30, 2016	Dec. 31, 2016
Procceds from common stock						$ 2,000,000
Common stock, par value (in dollars per share)			$ 0.0001			$ 0.0001
Warrants [Member]
Number of warrants to purchase						1,025,000
Warrant exercisable price (in dollars per share)						$ 2.32
Wilshire Energy Partners, LLC [Member]
Number of shares issued upon acquisition		4,500,000		4,500,000
Wilshire Energy Partners, LLC [Member] | Warrants [Member]
Number of warrants to purchase		700,000
Warrant term		5 years
Warrant minimum exercisable term		1 year
Wilshire Energy Partners, LLC [Member] | Warrants One [Member]
Number of warrants to purchase		100,000
Warrant exercisable price (in dollars per share)		$ 1.25
Wilshire Energy Partners, LLC [Member] | Warrants Two [Member]
Number of warrants to purchase		200,000
Warrant exercisable price (in dollars per share)		$ 2
Wilshire Energy Partners, LLC [Member] | Warrants Third [Member]
Number of warrants to purchase		400,000
Warrant exercisable price (in dollars per share)		$ 3
Total Belief Limited [Member]
Number of shares issued					2,083,334
Procceds from common stock					$ 3,812,500
Purchase price (in dollars per share)					$ 1.83
Share Exchange Agreement [Member] | Wilshire Energy Partners, LLC [Member]
Number of shares issued upon acquisition		4,500,000
Share Exchange Agreement [Member] | Alternus Capital Holdings Ltd. [Member]
Number of shares issued upon acquisition		1,503,759
Share Exchange Agreement [Member] | Foothills Petroleum Inc [Member]
Number of shares issued upon acquisition		6,003,759
Securities Purchase Agreement [Member] | Berwin Trading Limited [Member]
Number of shares issued	3,007,519
Procceds from common stock	$ 2,000,000
Purchase price (in dollars per share)	$ 0.665
Common stock, par value (in dollars per share)	$ 0.0001

Common Stock (Details Narrati42

Common Stock (Details Narrative 2) - USD ($)	May 27, 2016	May 19, 2016	Apr. 01, 2016	Dec. 31, 2016	Dec. 31, 2015
Number of shares granted				450,000
Strike price (in dollars per share)				$ 3
Warrants One [Member] | Unrelated Party [Member]
Number of warrants to purchase	125,000
Warrant exercisable price (in dollars per share)	$ 1.25
Warrants Two [Member] | Unrelated Party [Member]
Number of warrants to purchase	100,000
Warrant exercisable price (in dollars per share)	$ 2
Warrants Third [Member] | Unrelated Party [Member]
Number of warrants to purchase	100,000
Warrant exercisable price (in dollars per share)	$ 3
Warrants [Member]
Number of warrants to purchase				1,025,000
Warrant exercisable price (in dollars per share)				$ 2.32
Fair value				$ 2,144
Volatility rate				120.00%
Discount rate				0.00%
Expected dividend yield				$ 0
Expected life				5 years
Warrants [Member] | Unrelated Party [Member]
Warrant expiration date	Jun. 1, 2021
Wilshire Energy Partners, LLC [Member] | Warrants One [Member]
Number of warrants to purchase	100,000
Warrant exercisable price (in dollars per share)	$ 1.25
Wilshire Energy Partners, LLC [Member] | Warrants Two [Member]
Number of warrants to purchase	200,000
Warrant exercisable price (in dollars per share)	$ 2
Wilshire Energy Partners, LLC [Member] | Warrants Third [Member]
Number of warrants to purchase	400,000
Warrant exercisable price (in dollars per share)	$ 3
Wilshire Energy Partners, LLC [Member] | Warrants [Member]
Number of warrants to purchase	700,000
Warrant expiration date	Jun. 1, 2021
Director One [Member]
Description of vesting and milestone achived			(i) 40% vesting ninety (90) days from the appointment date; (ii) 20% vesting one hundred eighty (180) days from the appointment date; (iii) 20% vesting two hundred seventy (270) days following the appointment date; (iv) 20% vesting three hundred sixty (360) days following the Effective Date.
Director One [Member] | First Option [Member]
Number of shares granted		50,000
Strike price (in dollars per share)		$ 2
Description of vesting and milestone achived		Vesting when the Company achieves and maintains a total average daily production level of 100 barrels of oil equivalent per day (“boe/d”) for at least 30 days.
Director One [Member] | Second Option [Member]
Number of shares granted		50,000
Strike price (in dollars per share)		$ 3
Description of vesting and milestone achived		Vesting when the Company achieves and maintains a total average daily production level of 200 boe/d for at least 60 days.
Director One [Member] | Third Option [Member]
Number of shares granted		50,000
Strike price (in dollars per share)		$ 4
Description of vesting and milestone achived		Vesting when the Company achieves and maintains a total average daily production level of 500 boe/d for at least 90 days.
Director Two [Member]
Description of vesting and milestone achived			(i) 40% vesting ninety (90) days from the appointment date; (ii) 20% vesting one hundred eighty (180) days from the appointment date; (iii) 20% vesting two hundred seventy (270) days following the appointment date; (iv) 20% vesting three hundred sixty (360) days following the Effective Date.
Director Two [Member] | First Option [Member]
Number of shares granted		50,000
Strike price (in dollars per share)		$ 2
Description of vesting and milestone achived		Vesting when the Company achieves and maintains a total average daily production level of 100 barrels of oil equivalent per day (“boe/d”) for at least 30 days.
Director Two [Member] | Second Option [Member]
Number of shares granted		50,000
Strike price (in dollars per share)		$ 3
Description of vesting and milestone achived		Vesting when the Company achieves and maintains a total average daily production level of 200 boe/d for at least 60 days.
Director Two [Member] | Third Option [Member]
Number of shares granted		50,000
Strike price (in dollars per share)		$ 4
Description of vesting and milestone achived		Vesting when the Company achieves and maintains a total average daily production level of 500 boe/d for at least 90 days.
Director Three [Member] | First Option [Member]
Number of shares granted		50,000
Strike price (in dollars per share)		$ 2
Description of vesting and milestone achived		Vesting when the Company achieves and maintains a total average daily production level of 100 barrels of oil equivalent per day (“boe/d”) for at least 30 days.
Director Three [Member] | Second Option [Member]
Number of shares granted		50,000
Strike price (in dollars per share)		$ 3
Description of vesting and milestone achived		Vesting when the Company achieves and maintains a total average daily production level of 200 boe/d for at least 60 days.
Director Three [Member] | Third Option [Member]
Number of shares granted		50,000
Strike price (in dollars per share)		$ 4
Description of vesting and milestone achived		Vesting when the Company achieves and maintains a total average daily production level of 500 boe/d for at least 90 days.

Related Party Transactions (Det

Related Party Transactions (Details Narrative)	Sep. 01, 2016USD ($)	May 27, 2016USD ($)$ / sharesshares	Apr. 05, 2016USD ($)	Dec. 24, 2015USD ($)a$ / sharesshares	Dec. 18, 2015USD ($)shares	Dec. 31, 2016a
Wilshire Energy Partners, LLC [Member]
Percentage of ownership interest				100.00%
Number of shares issued upon acquisition | shares		4,500,000		4,500,000
Area of oil and gas property | a				41,421		45,648
Alternus Capital Holdings Ltd. [Member] | 8% Convertible Promissory Note Due On December 23, 2017 [Member]
Debt conversion price (in dollars per share) | $ / shares				$ 0.665
Debt principal amount			$ 400,000	$ 600,000
Debt instrument term				2 years
Alternus Capital Holdings Ltd. [Member] | 8% Convertible Promissory Note Due On December 23, 2017 [Member]
Original debt converted amount		$ 1,000,000
Debt conversion price (in dollars per share) | $ / shares		$ 0.665
Number of shares issued upon conversion | shares		1,503,759
Debt principal amount			$ 400,000
Description of agreement			Under the agreements between Alternus and FPI, Alternus had the right but not the obligation to subscribe for an aggregate of up to $3,500,000 of convertible notes which, in the event of that full subscription would convert into not less than 30% of the then outstanding shares of the “public” company.
Business Development Services Agreement [Member]
Description of Financing terms					Wilshire would endeavor in good faith, with the assistance of Aegis, to obtain $3 million to $3.5 million of financing in the form of equity and/or convertible notes to implement the business plan that was under formation on behalf of Foothills.
Payment for petroleum services					$ 150,000
Business Development Services Agreement [Member] | Mr. B.P. Allaire [Member]
Monthly amount paid to related party	$ 7,000				$ 5,000
Business Development Services Agreement [Member] | Wilshire Energy Partners, LLC [Member]
Percentage of ownership interest					100.00%
Number of shares issued upon acquisition | shares					4,500,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Net operating loss carryforward	$ (671,362)	$ (11,375)
Stock based compensation	3,931
Fair value of options	281
Total deferred tax assets	(667,150)	(11,375)
Valuation allowance	667,150	11,375
Net deferred tax asset

Income Taxes (Details 1)

Income Taxes (Details 1)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
U.S federal statutory income tax	(34.00%)	(34.00%)
State tax, net of federal tax benefit	(5.80%)	(5.80%)
Stock based compensation	0.00%	0.00%
Change in valuation allowance	39.80%	39.80%
Effective tax rate	0.00%	0.00%

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	Jan. 01, 2017	Aug. 18, 2016	Jun. 01, 2016	Apr. 27, 2016
Peak Well Service, LLC [Member] | Mechanics and Materialmans Liens [Member] | Pending Litigation [Member] | Subsequent Event [Member]
Description of domicile	Unpaid accounts in connection with work performed
Name of defendant	Wilkins, Rust 2 Well, Dye Hall 2, Rust 3, and Josie 1 wells
Settlement amount	$ 120,000
Wilshire Energy Partners, LLC [Member] | Services Agreement [Member]
Percentage of hiring fees on gross annual salary		25.00%
Hiring fees paid		$ 50,000
Description of agreement terms		In the event either of Mr. Lanclos or Mr. Ovalle leaves FPI of his own volition or is terminated for cause within 90 days from commencement of their employment, Wilshire shall refund FPI 100% of fees received, minus $2,500.
Foothills Petroleum Inc [Member] | Mr. Ritchie Lanclos [Member]
Annual salary		$ 84,000
Bonus receive		$ 10,000
Foothills Petroleum Inc [Member] | Mr. Ritchie Lanclos [Member] | Restricted Stock Units (RSUs) [Member]
Number of shares issued		100,000
Foothills Petroleum Inc [Member] | Mr. Ritchie Lanclos [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 1- 180 days [Member]
Number of shares vested		20,000
Foothills Petroleum Inc [Member] | Mr. Ritchie Lanclos [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 270 days [Member]
Number of shares vested		20,000
Foothills Petroleum Inc [Member] | Mr. Ritchie Lanclos [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 365 days [Member]
Number of shares vested		60,000
Foothills Petroleum Inc [Member] | Mr.Eleazar Ovalle [Member]
Annual salary		$ 84,000
Bonus receive		$ 10,000
Foothills Petroleum Inc [Member] | Mr.Eleazar Ovalle [Member] | Restricted Stock Units (RSUs) [Member]
Number of shares issued		100,000
Foothills Petroleum Inc [Member] | Mr.Eleazar Ovalle [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 1- 180 days [Member]
Number of shares vested		20,000
Foothills Petroleum Inc [Member] | Mr.Eleazar Ovalle [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 270 days [Member]
Number of shares vested		20,000
Foothills Petroleum Inc [Member] | Mr.Eleazar Ovalle [Member] | Restricted Stock Units (RSUs) [Member] | Tranch 2- 365 days [Member]
Number of shares vested		60,000
Tiger Energy Operating, LLC [Member] | SCI Welding and Oilfield Service [Member] | Unpaid Debt [Member] | Settled Litigation [Member]
Description of domicile				Eighth District Court-Roosevelt Duchesne County, State of Utah.
Amount of claim				$ 67,470
Description of allegation				Collection of unpaid debt owed by TEO concerning the workover of wells in Duchesne County, Utah.
Amount of garnishment				$ 17,063
Tiger Energy Operating, LLC [Member] | Graco Fishing And Rental Tools, Inc. [Member] | Unpaid Debt [Member] | Pending Litigation [Member]
Description of domicile			Eighth Judicial District Court in and for Duchesne County, State of Utah
Amount of claim			$ 159,965
Description of allegation			Unpaid accounts in connection with its workover of wells in Duchesne County, Utah. Graco has filed a writ of execution against the A Rust 2, Dye-Hall 2-21 A1, Wilkins 1-24 A5 and Rust 3-22A-4 wells located in Duchesne County.

Subsequent Event (Details Narra

Subsequent Event (Details Narrative) - Subsequent Event [Member] - USD ($)	Mar. 31, 2017	Jan. 06, 2017	Jan. 05, 2017
Number of shares issued upon services to third party	175,000
Berwin Trading Limited [Member] | 9% Unsecured Debenture [Member]
Debt principal amount		$ 1,250,000
Full Wealth Investment Hong Kong Limited [Member] | 9% Unsecured Debenture Due April 30, 2017 [Member]
Debt principal amount			$ 1,000,000

Supplemental Oil and Gas Rese48

Supplemental Oil and Gas Reserve Information (Unaudited) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Production revenues
Production costs
Depletion and depreciation
Income tax
Results of operations for producing activities

Supplemental Oil and Gas Rese49

Supplemental Oil and Gas Reserve Information (Unaudited) (Details 1)	Dec. 31, 2016USD ($)
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Properties subject to depletion	$ 11,198,411
Accumulated depletion
Net capitalized costs	$ 11,198,411

Supplemental Oil and Gas Rese50

Supplemental Oil and Gas Reserve Information (Unaudited) (Details 2)	12 Months Ended
	Dec. 31, 2016USD ($)
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Acquisition of properties	$ 10,462,220
Exploration costs	736,191
Development costs
Net capitalized costs	$ 11,198,411

Supplemental Oil and Gas Rese51

Supplemental Oil and Gas Reserve Information (Unaudited) (Details 3)	12 Months Ended
	Dec. 31, 2016MBoeMcfMBbls
Crude Oil [Member]
Proved Reserves, Volume [Roll Forward]
Beginning, Total Proved Non-Producing
Beginning, Proved Undeveloped
Beginning, Total Proved
Revisions of previous estimates, Total Proved Non-Producing
Revisions of previous estimates, Proved Undeveloped
Revisions of previous estimates, Total Proved
Sales of minerals in place, Total Proved Non-Producing
Sales of minerals in place, Proved Undeveloped
Sales of minerals in place, Total Proved
Production, Total Proved Non-Producing
Production, Proved Undeveloped
Production, Total Proved
Ending, Total Proved Non-Producing	193
Ending, Proved Undeveloped	1,429
Ending, Total Proved	1,622
Natural Gas Liquids [Member]
Proved Reserves, Volume [Roll Forward]
Beginning, Total Proved Non-Producing
Beginning, Proved Undeveloped
Beginning, Total Proved
Revisions of previous estimates, Total Proved Non-Producing
Revisions of previous estimates, Proved Undeveloped
Revisions of previous estimates, Total Proved
Production, Total Proved Non-Producing
Production, Proved Undeveloped
Production, Total Proved
Ending, Total Proved Non-Producing
Ending, Proved Undeveloped
Ending, Total Proved
Natural Gas [Member]
Proved Reserves, Volume [Roll Forward]
Beginning, Total Proved Non-Producing | Mcf
Beginning, Proved Undeveloped | Mcf
Beginning, Total Proved | Mcf
Revisions of previous estimates, Total Proved Non-Producing | Mcf
Revisions of previous estimates, Proved Undeveloped | Mcf
Revisions of previous estimates, Total Proved | Mcf
Production, Total Proved Non-Producing | Mcf
Production, Proved Undeveloped | Mcf
Production, Total Proved | Mcf
Ending, Total Proved Non-Producing | Mcf	97
Ending, Proved Undeveloped | Mcf	714
Ending, Total Proved | Mcf	811
Oil Equivalents [Member]
Proved Reserves, Energy [Roll Forward]
Beginning, Total Proved Non-Producing | MBoe
Beginning, Proved Undeveloped | MBoe
Beginning, Total Proved | MBoe
Revisions of previous estimates, Total Proved Non-Producing | MBoe
Revisions of previous estimates, Proved Undeveloped | MBoe
Revisions of previous estimates, Total Proved | MBoe
Production, Total Proved Non-Producing | MBoe
Production, Proved Undeveloped | MBoe
Production, Total Proved | MBoe
Ending, Total Proved Non-Producing | MBoe	212.4
Ending, Proved Undeveloped | MBoe	1,571.8
Ending, Total Proved | MBoe	1,784.2

Supplemental Oil and Gas Rese52

Supplemental Oil and Gas Reserve Information (Unaudited) (Details 4)	Dec. 31, 2016USD ($)MBoe
Estimated Conversion of Proved Undeveloped Reserves [Roll Forward]
2017 | $	$ 412,000
2018 | $	6,175,000
2019 | $	9,500,000
2020 | $
2021 | $
Estimated Conversion of Proved Undeveloped Reserves Energy [Roll Forward]
2017 | MBoe	22.806
2018 | MBoe	155.948
2019 | MBoe	231.795
2020 | MBoe	270.064
2021 | MBoe	211.554

Supplemental Oil and Gas Rese53

Supplemental Oil and Gas Reserve Information (Unaudited) (Details 5)	Dec. 31, 2016USD ($)
Standardized measure of discounted future net cash flows
Future net production revenue	$ 74,093,600
Future production costs	(17,313,400)
Future capex costs	(19,750,000)
Future net cash flows before tax	37,030,200
Future income taxes (assuming 34% corporate tax rate)	(12,590,268)
Future net cash flows after tax	24,439,932
10% annual discount for estimating of future cash flows	(14,908,800)
Standardized measure of discounted net future cash flows	$ 9,531,132

Supplemental Oil and Gas Rese54

Supplemental Oil and Gas Reserve Information (Unaudited) (Details Narrative)	12 Months Ended
	Dec. 31, 2016USD ($)MBoe	Dec. 31, 2015USD ($)MBoe
Amount invested in oil and gas property | $	$ 11,198,411	$ 72,430
Net fixed assets | $	$ 353,363
Oil Equivalents [Member]
Proved non-producing | MBoe	212.4
Proved undeveloped | MBoe	1,571.8
Total proved | MBoe	1,784.2
Estimates capital expenditures | $	$ 19,750,000
Oil [Member]
Percentage of total proved reserves	91.00%
Gas [Member]
Percentage of total proved reserves	9.00%