Texas South Energy (TXSO) 10-Q 11 Sep 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jul. 31, 2015	Sep. 10, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Texas South Energy, Inc.
Entity Central Index Key	1,506,742
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Document Type	10-Q
Document Period End Date	Jul. 31, 2015
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,015
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		362,215,670

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Jul. 31, 2015	Oct. 31, 2014
CURRENT ASSETS
Cash	$ 137	$ 84,482
Investment securities - available for sale	250,000	950,000
TOTAL CURRENT ASSETS	250,137	1,034,482
Advances - mineral interests	8,200,000	8,200,000
Oil & Gas property	370,000	370,000
TOTAL ASSETS	8,820,137	9,604,482
CURRENT LIABILITIES
Accounts payable and accrued liabilities	205,563	$ 124,347
Accounts payable - related party	297,728
Accrued expenses	77,387	$ 27,542
Notes payable (net of debt discount of $0 and $36,479 as of July 31, 2015 and October 31, 2014, respectively)	1,000,000	963,521
Due to related party	52,152	52,152
TOTAL CURRENT LIABILITIES	$ 1,632,830	$ 1,167,562
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock 50,000,000 shares preferred stock authorized, none issued and outstanding
Common stock 950,000,000 shares common stock authorized, $0.001 par value, 362,215,670 shares of common stock issued and outstanding	$ 362,215	$ 362,215
Additional paid-in capital	13,231,996	13,231,996
Accumulated other comprehensive income (loss)	(18,000)	682,000
Accumulated deficit	(6,388,904)	(5,839,291)
Total stockholders' equity	7,187,307	8,436,920
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 8,820,137	$ 9,604,482

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Jul. 31, 2015	Oct. 31, 2014
Statement of Financial Position [Abstract]
Net of discount	$ 0	$ 36,479
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, shares authorized	950,000,000	950,000,000
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares issued	362,215,670	362,215,670
Common stock, shares outstanding	362,215,670	362,215,670

Statements of Operations and Co

Statements of Operations and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2015	Jul. 31, 2014
EXPENSES
General and administrative expense	$ 147,457	$ 555,906	$ 513,134	$ 1,515,821
Interest expense	7,296	18,730	36,479	26,272
NET LOSS	(154,753)	(574,636)	(549,613)	(1,542,093)
Other comprehensive income (loss):
Unrealized gain (loss) on securities available for sale	(250,000)	600,000	(700,000)	932,000
Total comprehensive income (loss)	$ (404,753)	$ 25,364	$ (1,249,613)	$ (610,093)
NET LOSS PER COMMON SHARE
Basic and diluted	$ 0	$ 0	$ 0	$ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
Basic and diluted	362,215,670	326,138,004	362,215,670	302,568,817

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (549,613)	$ (1,542,093)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization of debt discount	$ 36,479
Change in prepaid expenses		$ 10,838
Change in accounts payable and accrued expenses	$ 131,061	$ 69,698
Change in accounts payable - related party	297,728
NET CASH USED IN OPERATING ACTIVITIES	$ (84,345)	$ (1,461,557)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of marketable securities		(268,000)
Advances of mineral interests		(8,200,000)
Acquisition of oil and gas property		(270,000)
NET USED IN INVESTING ACTIVITIES		(8,738,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of notes payable		8,027,950
Proceeds from sale of common stock (issued)		1,982,900
Proceeds from sale of common stock (to be issued)		160,000
NET CASH PROVIDED BY FINANCING ACTIVITIES		10,170,850
NET INCREASE (DECREASE) IN CASH	$ (84,345)	(28,707)
CASH, BEGINNING OF PERIOD	84,482	374,086
CASH, END OF PERIOD	$ 137	$ 345,379
Cash paid for:
Interest
Income taxes
Non-cash activity:
Issuance of shares for oil & gas property		$ 100,000
Issuance of shares for accrued compensation		3,001,000
Unrealized gain (loss) on securities:
Available for sale	$ (700,000)	$ 932,000

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
	Jul. 31, 2015
Nature of Operations and Basis of Presentation [Abstract]
NATURE OF OPERATIONS AND BASIS OF PRESENTATION	NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION Texas South Energy, Inc., (the “Company”) was incorporated pursuant to the laws of the State of Nevada on March 15, 2010. The Company had initially intended to commence business operations by producing and performing traditional Peruvian dances both in Peru and the United States. On September 24, 2013, there was a change in control of the Company. The Company is engaged in the oil and gas business. The Company has limited operating history and has earned no revenues. The Company has devoted its activities to the acquisition of oil and gas assets. The Company has incurred losses since inception of $6,388,904. The Company has established a fiscal year end of October 31.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Jul. 31, 2015
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited financial statements have been prepared in all material respects in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information. Pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The accompanying unaudited financial statements have been prepared on the same basis as the audited financial statements for the year ended October 31, 2014. Because certain information and footnote disclosures have been condensed or omitted, these unaudited financial statements should be read in conjunction with the audited financial statements and notes thereto as of and for the year ended October 31, 2014, which are included in the Company’s annual report for the year ended October 31, 2014 (the “2014 Annual Report”). In management’s opinion, all normal and recurring adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been included. Management believes that the disclosures made in these unaudited financial statements are adequate to make the information not misleading. Interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. There have been no changes in the Company’s significant accounting policies from those that were disclosed in the Company’s 2014 Annual Report. Use of Estimates and Assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While management believes that such estimates are reasonable when considered in conjunction with the financial position and results of operations taken as a whole, actual results could differ from those estimates, and such differences may be material to the financial statements. Basic and Diluted Net Loss per Share The Company computes loss per share in accordance with ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Diluted loss per share excludes all potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are the same. Recent Accounting Pronouncements The Company has elected to adopt application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements; it no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”), which eliminates the deferral of FAS 167 and makes changes to both the variable interest model and the voting model. These changes will require re-evaluation of certain entities for consolidation and will require the Company to revise its documentation regarding the consolidation or deconsolidation of such entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, and is to be applied retrospectively, with early adoption permitted. The new guidance is not expected to have a material impact on its financial statements and related disclosures. Management does not anticipate that the recently issued but not yet effective accounting pronouncements will materially impact the Company’s financial condition.

Going Concern

Going Concern	9 Months Ended
	Jul. 31, 2015
Going Concern [Abstract]
GOING CONCERN	NOTE 3 – GOING CONCERN The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company does not have sufficient cash, nor does it have operations or a source of revenue sufficient to cover its operating costs and allow it to continue as a going concern. The Company has accumulated losses as of July 31, 2015, of $6,388,904. The Company will be dependent upon the raising of additional capital through the best-efforts placement of its equity and/or debt securities in order to implement its business plan. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.

Oil & Gas Property

Oil & Gas Property	9 Months Ended
	Jul. 31, 2015
Oil & Gas Property [Abstract]
OIL & GAS PROPERTY	NOTE 4 – OIL & GAS PROPERTY On January 22, 2014, the Company entered into a contract for sale with the owner of mineral interests in 86.69 acres in Lavaca County, Texas (the “Acreage”) pursuant to which the Company acquired a 37.5% interest in the Acreage’s mineral rights, including the oil and gas rights (the “Acquired Interest”). In exchange for the Acquired Interest, the Company paid the seller $270,000 in cash and issued the seller 2,000,000 shares of the Company’s common stock, valued at $100,000.

Advances - Mineral Interests

Advances - Mineral Interests	9 Months Ended
	Jul. 31, 2015
Advances - Mineral Interests [Abstract]
ADVANCES - MINERAL INTERESTS	NOTE 5 – ADVANCES - MINERAL INTERESTS On March 10, 2014, the Company entered into a farm-out letter agreement with GulfSlope Energy, Inc. (“GulfSlope”), relating to five prospects (the “Prospects”) located within 2.2 million acres of 3D seismic licensed and interpreted by GulfSlope. At the time the farm out agreement was entered into, the Company’s chief executive officer and sole director, Mr. Askew, was also a director of GulfSlope. Mr. Askew resigned as a director of GulfSlope effective March 27, 2014. Under the terms of the farm-out letter agreement, the Company may acquire up to a 20% working interest in the Prospects for up to $10,000,000 payable by the Company to GulfSlope. As of July 31, 2015, the Company had paid $8,200,000 of the $10,000,000 resulting in a farm-out investment asset of $8,200,000. The transfer of the contractual rights to the working interests is expected to occur in 2015. In addition, the Company has agreed to pay its proportionate share of the net rental costs related to the Prospects. GulfSlope will be the operator of record and shall have the right to negotiate all future joint operating agreements.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Jul. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS As of July 31, 2015 and October 31, 2014 the Company had received advances from a prior director in the amount of $52,152. The amounts due to the related party remain outstanding, unsecured due on demand and non-interest bearing with no set terms of repayment. On September 27, 2013, the Company entered into a one-year employment agreement with its director and chief executive officer James Askew. The agreement provided for a one-time issuance of 69,000,000 shares of common stock, $75,000 cash signing bonus, and $35,000 cash compensation per month. Per the agreement, Mr. Askew was paid a $75,000 cash bonus in September 2013, and issued 69,000,000 shares of the Company’s common stock in September 2013. The stock was valued at $23,000 based upon the Company’s recent stock sales. In October 2013, the Company awarded a $600,000 cash bonus to Mr. Askew for his success in raising capital for the Company prior to October 31, 2013. On March 17, 2014, the Company and Mr. Askew amended the employment agreement to extend the term for one year, expiring September 2015, and to provide that Mr. Askew is entitled to receive base compensation through the end of the term if such agreement is terminated prior to the end of the term. On March 17, 2014, the Company also entered into an indemnification agreement with Mr. Askew tracking the statutory provisions of the Nevada Statutes. As of July 31, 2015, the Company owed $280,000 to James Askew pursuant to his employment agreement. On March 21, 2014, the Company acquired five million shares of restricted GulfSlope common stock from our sole officer and director James M. Askew for a purchase price of $268,000. At the time of the acquisition, Mr. Askew was also a director of GulfSlope. Mr. Askew resigned as a director of GulfSlope effective March 27, 2014. During the three month and nine months ended July 31, 2015, the Company recorded an unrealized loss of $250,000 and $700,000, respectively, to adjust the investment securities to fair market value. In May 2015, the Company’s chief executive officer and sole director paid numerous vendors a total of $17,728 on behalf of the Company. This liability is reflected in the balance sheet line ‘Accounts payable – related party’.

Notes Payable

Notes Payable	9 Months Ended
	Jul. 31, 2015
Notes Payable [Abstract]
NOTES PAYABLE	NOTE 7 – NOTES PAYABLE In connection with the Company’s funding obligations pursuant to the farm-out letter agreement (see Note 5 – Advances – Mineral Interests above), on March 10, 2014, the Company entered into a financing arrangement for up to $10,000,000 in connection with the issuance of 1% unsecured convertible promissory notes (the “Notes”), convertible into shares of the Company’s common stock at a conversion price of $0.20 per share. The conversion occurred in August 2014. The holders converted the total outstanding principal amount of $6,992,950 and accrued interest of $27,437 into 35,102,181 shares of common stock. The Conversion extinguishes the Company’s obligations under the Note Agreement, including the promissory notes underlying the Note Agreement. Effective June 2014, Texas South Energy, Inc. entered into a subscription agreement with an accredited investor under which the Company issued (i) a promissory note in the original principal amount of $1,000,000, and (ii) a one-year warrant to purchase 2,000,000 shares of the Company’s common stock at an exercise price of $0.25 per share with a fair value of $58,367. The promissory note matured on June 30, 2015 and bears interest at a fixed rate of 10% per annum. As of July 31, 2015, and October 31, 2014, the balance outstanding on the notes payable was $1,000,000 and $963,521, respectively, net of debt discount. In June 2014, the Company entered into a non-convertible promissory note for $35,000. This note expired on August 15, 2014 when proceeds of the note were then provided to the Company for the issuance of 175,485 shares of common stock at $.20 per share.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Jul. 31, 2015
Fair Value of Financial Instruments [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 8 – FAIR VALUE OF FINANCIAL INSTRUMENTS The Company’s financial instruments are cash, accounts payable, and investment securities. The recorded values of cash and accounts payable approximate their fair values based on their short-term nature. The Company’s Level 2 asset consists of investment securities. The fair value of investment securities (common stock in GulfSlope) is based on $0.05 per share, derived from GulfSlope's trading price.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jul. 31, 2015
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9 – COMMITMENTS AND CONTINGENCIES In September 2013, the Company entered into a one-year employment arrangement with its director and chief executive officer James Askew. Among other compensation (see Note 6 – Related Party Transactions above), the agreement provides for $35,000 cash compensation per month. On March 17, 2014, the Company and Mr. Askew amended the employment agreement to extend the term for one year, expiring September 2015, and to provide that Mr. Askew is entitled to receive base compensation through the end of the term if such agreement is terminated prior to the end of the term.

Subsequent Events

Subsequent Events	9 Months Ended
	Jul. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS On September 8, 2015 Texas South paid GulfSlope $1,000,000 to amend the farm-out agreement dated March 10, 2014 with GulfSlope, whereby the parties (i) revised the percentage of working interest to be to be acquired by Texas South in certain oil and gas Prospects in the Gulf of Mexico and (ii) modified, substituted and/or replaced the Prospects in the March 2014 agreement with a list of new Prospects. Under the amended agreement, Texas South has acquired an 18.4% working interest in the Prospects and may, but is not obligated to, increase its working interest further by 1.6% to 20% by paying an additional $800,000 to GulfSlope on or before September 15, 2015. Texas South financed the $1,000,000 payment by a private placement of its common stock at a price of $0.02 per share and to date has received a total of approximately $1,600,000 related to that financing. Subsequent to July 31, 2015, the Company’s chief executive officer and sole director paid numerous vendors a total of $45,528 on behalf of the Company.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jul. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited financial statements have been prepared in all material respects in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information. Pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The accompanying unaudited financial statements have been prepared on the same basis as the audited financial statements for the year ended October 31, 2014. Because certain information and footnote disclosures have been condensed or omitted, these unaudited financial statements should be read in conjunction with the audited financial statements and notes thereto as of and for the year ended October 31, 2014, which are included in the Company’s annual report for the year ended October 31, 2014 (the “2014 Annual Report”). In management’s opinion, all normal and recurring adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been included. Management believes that the disclosures made in these unaudited financial statements are adequate to make the information not misleading. Interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. There have been no changes in the Company’s significant accounting policies from those that were disclosed in the Company’s 2014 Annual Report.
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While management believes that such estimates are reasonable when considered in conjunction with the financial position and results of operations taken as a whole, actual results could differ from those estimates, and such differences may be material to the financial statements.
Basic and Diluted Net Loss per Share	Basic and Diluted Net Loss per Share The Company computes loss per share in accordance with ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Diluted loss per share excludes all potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are the same.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has elected to adopt application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements; it no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”), which eliminates the deferral of FAS 167 and makes changes to both the variable interest model and the voting model. These changes will require re-evaluation of certain entities for consolidation and will require the Company to revise its documentation regarding the consolidation or deconsolidation of such entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, and is to be applied retrospectively, with early adoption permitted. The new guidance is not expected to have a material impact on its financial statements and related disclosures. Management does not anticipate that the recently issued but not yet effective accounting pronouncements will materially impact the Company’s financial condition.

Nature of Operations and Basi17

Nature of Operations and Basis of Presentation (Details) - USD ($)	Jul. 31, 2015	Oct. 31, 2014
Nature of Operations and Basis of Presentation (Textual)
Accumulated deficit	$ (6,388,904)	$ (5,839,291)

Going Concern (Details)

Going Concern (Details) - USD ($)	Jul. 31, 2015	Oct. 31, 2014
Going Concern (Textual)
Deficit accumulated during the exploration stage	$ (6,388,904)	$ (5,839,291)

Oil & Gas Property (Details)

Oil & Gas Property (Details)	Jan. 22, 2014USD ($)ashares	Jul. 31, 2015USD ($)	Jul. 31, 2014USD ($)
Oil & Gas Property (Textual)
Acres in Acreage's mineral | a	86.69
Percentage of interest acquired in Acreage's mineral	37.50%
Cash paid for interest acquired	$ 270,000		$ 270,000
Number of shares issued to interest acquired | shares	2,000,000
Number of shares issued to interest acquired, value	$ 100,000

Advances - Mineral Interests (D

Advances - Mineral Interests (Details) - USD ($)	Mar. 10, 2014	Jul. 31, 2015	Oct. 31, 2014	Jun. 30, 2014
Advances Mineral Interests [Line Items]
Advances - mineral interests		$ 8,200,000	$ 8,200,000
Notes payable by the company				$ 1,000,000
Gulfslope Energy Inc [Member]
Advances Mineral Interests [Line Items]
Working interest acquired	20.00%
Farm-out investment asset	$ 8,200,000
Notes payable by the company	$ 10,000,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Sep. 30, 2013	May. 31, 2015	Mar. 21, 2014	Mar. 17, 2014	Jul. 31, 2015	Jul. 31, 2015	Oct. 31, 2013	Oct. 31, 2014
Related Party Transaction [Line Items]
Due to related party					$ 52,152	$ 52,152		$ 52,152
Employment agreement					280,000	280,000
Unrealized loss					$ 250,000	700,000
Repayments of vendors		$ 17,728				$ 45,528
Gulfslope Energy Inc [Member]
Related Party Transaction [Line Items]
Purchase price of shares			$ 268,000
Number of shares acquired			5,000,000
Mr. Askew [Member]
Related Party Transaction [Line Items]
Shares issued as compensation	69,000,000
Bonus paid in cash	$ 75,000						$ 600,000
Cash compensation	35,000
Shares issued as compensation, value	$ 23,000
Employment agreement expiration date description				The employment agreement to extend the term for one year, expiring September 2015.

Notes Payable (Details)

Notes Payable (Details) - USD ($)	1 Months Ended
	Aug. 31, 2014	Jun. 30, 2014	Jul. 31, 2015	Oct. 31, 2014	Mar. 10, 2014
Note Payable (Textual)
Interest rate		10.00%
Stock issued during the period, shares		175,485
Common stock exercise price		$ 0.25
Promissory notes payable		$ 1,000,000
Term of warrant		1 year
Maturity date		Jun. 30, 2015
Non-convertible promissory note		$ 35,000
Notes payable			$ 1,000,000	$ 963,521
Common Stock [Member]
Note Payable (Textual)
Outstanding principal amount	$ 6,992,950
Stock issued during the period, shares		2,000,000
Conversion shares of common stock	35,102,181
Common stock exercise price		$ 0.20
Accrued interest	$ 27,437
Stock issued during the period		$ 58,367
Maturity date		Aug. 15, 2014
Financing Arrangement [Member]
Note Payable (Textual)
Unsecured convertible promissory notes					$ 10,000,000
Interest rate					1.00%
Conversion price					$ 0.20

Fair Value of Financial Instr23

Fair Value of Financial Instruments (Details)	Jul. 31, 2015$ / shares
Fair Value of Financial Instruments (Textual)
Share price	$ 0.05

Commitments and Contingencies (

Commitments and Contingencies (Details) - Mr. Askew [Member] - USD ($)	Sep. 30, 2013	Mar. 17, 2014
Commitments and Contingencies (Textual)
Cash compensation	$ 35,000
Employment agreement expiration date description		The employment agreement to extend the term for one year, expiring September 2015.

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Sep. 08, 2015	Jan. 22, 2014	May. 31, 2015	Jul. 31, 2015
Subsequent Event [Line Items]
Percentage of interest acquired		37.50%
Payments to vendors			$ 17,728	$ 45,528
Subsequent Event [Member] | Gulfslope Energy Inc [Member]
Subsequent Event [Line Items]
Amount paid pursuant to amendment of farm-out agreement	$ 1,000,000
Amendment of farm-out agreement, Description	The parties (i) revised the percentage of working interest to be to be acquired by Texas South in certain oil and gas Prospects in the Gulf of Mexico and (ii) modified, substituted and/or replaced the Prospects in the March 2014 agreement with a list of new Prospects.
Percentage of interest acquired	18.40%
Payment to acquire working interest	$ 800,000
Subsequent Event [Member] | Private Placement [Member]
Subsequent Event [Line Items]
Amount paid, financed through private placement	$ 1,000,000
Price per share	$ 0.02
Proceeds from private placement	$ 1,600,000
Subsequent Event [Member] | Minimum [Member] | Gulfslope Energy Inc [Member]
Subsequent Event [Line Items]
Percentage of interest acquired	1.60%
Subsequent Event [Member] | Maximum [Member] | Gulfslope Energy Inc [Member]
Subsequent Event [Line Items]
Percentage of interest acquired	20.00%