GASE Energy (GASE) Inactive 10-Q14 Nov 142014 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2014	Nov. 14, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'GASE ENERGY, INC.	'
Entity Central Index Key	'0001539574	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2014	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	51,562,896

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheet (USD $)	Sep. 30, 2014	Dec. 31, 2013
Current assets:	'	'
Cash	$22,220	$99,650
Accounts receivable, net	16,238	6,207
Inventories	21,792	41,749
Other current assets	4,814	7,281
Deferred income tax assets	2,937	2,945
Total current assets	68,001	157,832
Long-term assets:	'	'
Property, plant and equipment, net	604,355	1,090,537
Deferred income tax assets	14,352	21,015
Total Long-term assets	618,707	1,111,552
Total assets	686,708	1,269,384
Current liabilities:	'	'
Notes payable to related parties	349,551	341,953
Bank overdraft	'	454
Accounts payable	95,649	87,585
Taxes payable	11,588	9,567
Related party payables	152,525	3,025
Total current liabilities	609,313	442,584
Long-term liabilities:	'	'
Asset retirement obligations	36,522	56,917
Total long-term liabilities	36,522	56,917
Total liabilities	645,835	499,501
Commitments and Contingencies (Note 11)	'	'
Stockholders' equity:	'	'
Preferred stock value	'	'
Common stock - $.0001 par value; 100,000,000 shares authorized, with 51,562,896 and 51,177,896 shares outstanding as of September 30, 2014 and December 31, 2013, respectively	5,157	5,118
Additional paid-in capital	3,745,089	3,569,051
Accumulated deficit	-3,275,040	-2,804,286
Accumulated other comprehensive income	-434,333	'
Total stockholders' equity	40,873	769,883
Total liabilities and stockholders' equity	686,708	1,269,384
Series A Preferred Stock [Member]	'	'
Stockholders' equity:	'	'
Preferred stock value	'	'

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheet (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Stockholders' equity:	'	'
Preferred stock par value	$0.00	$0.00
Preferred stock, shares authorized	9,999,999	9,999,999
Preferred stock, shares outstanding	0	0
Common stock par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	51,562,896	51,177,896
Series A Preferred Stock [Member]	'	'
Stockholders' equity:	'	'
Preferred stock par value	$0.00	$0.00
Preferred stock, shares authorized	1	1
Preferred stock, shares outstanding	0	1

Condensed_Statements_of_Operat

Condensed Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUES AND OTHER INCOME	'	'	'	'
Gas sales	$47,425	$69,672	$148,930	$212,845
Other sales	9,214	14,215	24,309	23,635
Other income	597	3,070	2,707	19,357
Total Revenues and Other Income	57,236	86,957	175,946	255,837
OPERATING EXPENSES	'	'	'	'
Operating and maintenance expenses	42,129	70,293	134,724	182,894
General and administrative expenses	20,008	38,859	90,644	138,833
Depreciation, depletion and amortization	15,541	25,677	53,101	80,979
Professional fees	52,139	3,613,984	346,409	3,687,059
Total Operating Expenses	129,817	3,748,813	624,878	4,089,765
Loss from operations	-75,581	-3,661,856	-448,932	-3,833,928
Other Expense:	'	'	'	'
Finance costs	'	-6,382	'	-8,240
Other Expense	'	-6,382	'	-8,240
LOSS BEFORE INCOME TAX	-75,581	-3,668,238	-448,932	-3,842,168
Income tax benefit/(provision)	-7,431	-3,230	-6,681	3,671
NET LOSS APPLICABLE TO COMMON SHARES	-80,012	-3,671,468	-455,613	-3,838,497
Other Comprehensive Loss	'	'	'	'
Foreign currency translation adjustment	-86,396	'	-434,333	-501
Total Other Comprehensive Loss	-86,396	'	-434,333	-501
COMPREHENSIVE LOSS	($166,408)	($3,671,468)	($889,946)	($3,838,998)
NET LOSS PER BASIC AND DILUTED SHARES	$0	($0.09)	($0.01)	($0.09)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	51,297,135	42,202,888	51,247,090	42,202,888

Condensed_Consolidated_Stateme

Condensed Consolidated Statement Of Cash Flows (USD $)	9 Months Ended
Condensed Consolidated Statement Of Cash Flows (USD $)	Sep. 30, 2014	Sep. 30, 2013
Operating activities:	'	'
Net loss	($455,613)	($3,838,497)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Common shares issued for services	22,500	'
Depreciation, depletion and amortization	53,101	80,979
Deferred income taxes	6,672	-7,848
Accretion expense	2,888	3,285
Finance costs	'	8,240
Other	'	705
Changes in assets and liabilities:	'	'
Accounts receivable	-12,570	12,094
Inventory	2,879	6,666
Advances paid and deferred expenses	1,329	-1,188
Accrued Investment Liability	'	837,500
Accounts payable and accrued liabilities	16,814	30,711
Prepaid taxes and taxes payable	5,922	-61,972
Related party payable	149,500	25
Net cash used in operating activities	-206,578	-2,929,300
Investing activities:	'	'
Purchase of property, plant and equipment	-3,281	-1,459
Change in deposits	'	20,018
Receipts from collections of loans issued	'	320,433
Acquisition of subsidiary	'	-53,164
Deposits for investments	'	-1,252,597
Net cash used in investing activities	-3,281	-966,769
Financing activities:	'	'
Proceeds from advance subscription from investors	'	200,000
Proceeds from loans received	'	63,500
Repayments of loans received	7,143	-370,848
Payments of notes issued	'	-34,130
Proceeds from common stock issued for cash	134,985	4,407,662
Net cash provided by financing activities	142,128	4,266,184
Effect of translation to presentation currency	-9,699	-500
Net (decrease) increase in cash	-77,430	369,616
Cash, beginning of period	99,650	197,101
Cash, end of period	22,220	566,717
Supplemental disclosures of cash flow information:	'	'
Cash paid for interest	'	'
Cash paid for taxes	'	4,171
Non cash financing activities	'	'
Transfer of loan received to additional paid-in capital	'	$63,362

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	9 Months Ended
Organization and Basis of Presentation	Sep. 30, 2014
Organization, Consolidation and Basis of Presentation [Abstract]	'
ORGANIZATION AND BASIS OF PRESENTATION	'

	NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION



	The unaudited condensed consolidated interim financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The condensed consolidated financial statements and notes are presented as permitted on Form 10-Q and do not contain information included in the Company’s annual statements and notes. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these condensed financial statements be read in conjunction with the December 31, 2013 audited financial statements and the accompanying notes thereto. Operating results for the interim periods are not necessarily indicative of financial results for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. In preparing these financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates.



	These condensed consolidated unaudited financial statements reflect all adjustments, including normal recurring adjustments which, in the opinion of management, are necessary to present fairly the operations and cash flows for the periods presented.



	GASE Energy, Inc. (the “Company”) was incorporated under the name Epsilon Corp. in Delaware on October 17, 2011. The Company changed its name to Great East Energy, Inc. on September 10, 2013, and to GASE Energy, Inc. on June 13, 2014. The Company's current business plan is acquisition and development of natural gas properties located in Ukraine.



	On July 25, 2013, the Company consummated transactions pursuant to a Share Exchange Agreement (the “Share Exchange Agreement”) dated July 25, 2013 by and among the Company and the stockholders of Great East Energy, Inc., a Nevada corporation (“GEEI”), (the “GEEI Stockholders”) whereby GEEI Stockholders transferred 100% of the outstanding shares of common stock of GEEI held by them, in exchange for an aggregate of 330,008 newly issued shares of the Company’s common stock, par value $.001 per share (“Common Stock”). As a result, GEEI became a wholly-owned subsidiary of the Company.



	On July 25, 2013, GEEI entered into a Stock Purchase Option Agreement (the “Option Agreement”) with Bezerius Holdings Limited, a corporation organized under the laws of the Republic of Cyprus (“BHL”), whereby BHL granted to GEEI an option to purchase 1,000 shares of equity capital of Synderal Services LTD, a corporation organized under the laws of the Republic of Cyprus ("SSL"), representing all issued and outstanding shares of SSL, for $1,250,000. SSL is engaged in the gas exploration and production business in Ukraine through its two wholly-owned subsidiaries, Limited Liability Company NPK-KONTAKT and Limited Liability Company LISPROMGAZ, each a legal entity formed under the laws of Ukraine.



	Under the Option Agreement, the Company was required to pay to BHL $412,500 as an advance payment to be credited towards the purchase price of the SSL shares. The Company made the advance payment on July 25, 2013. The balance of the purchase price in the amount of $837,500 was paid upon exercise of the option that was completed on November 25, 2013 by paying to BHL $500,000 in cash and issuing a promissory note in the principal amount of $337,500 for the balance of the option exercise price. The note bears no interest and has a maturity date of December 31, 2013, which was extended to March 31, 2015. The obligations of the Company under the note are secured by 1,000 shares of SSL purchased by the Company under the Option Agreement in accordance with the Pledge and Security Agreement dated November 25, 2013 made by the Company in favor of the collateral agent acting on behalf of BHL. As a result, SSL, Limited Liability Company NPK-KONTAKT and Limited Liability Company LISPROMGAZ became indirect wholly-owned subsidiaries of the Company.

Basis_of_Consolidation

Basis of Consolidation	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Basis of Presentation [Abstract]	'
BASIS OF CONSOLIDATION	'

	NOTE 2 – BASIS OF CONSOLIDATION



	The Group’s entities maintain accounting books and records in local currencies of their domicile in accordance with the requirements of respective accounting and tax legislations. The accompanying condensed consolidated financial statements have been prepared in order to present the Company’s financial position and its results of operations and cash flows in accordance with US GAAP and are expressed in terms of US Dollars ($), unless otherwise stated.



	The consolidated and combined financial statements are based upon the historical financial statements of Synderal Services LTD, NPK-Kontakt LLC and Lispromgaz LLC and certain adjustments that rely on preliminary estimates and certain assumptions which the Company believes are reasonable under the circumstances.



	The adjustments made in preparing the condensed consolidated interim financial statements are as follows:



	-	elimination of intra-entity transactions between GASE Energy, Inc. and Synderal Services LTD;
	-	elimination of intra-entity transactions between NPK-Kontakt LLC and Lispromgaz LLC;
	-	elimination of intra-entity balances between NPK-Kontakt LLC and Lispromgaz LLC;
	-	elimination of share capital of NPK-Kontakt LLC and Lispromgaz LLC and representation of payables for acquisition of subsidiaries incurred in connection with acquisition of NPK-Kontakt LLC and Lispromgaz LLC in March 2013.

Summary_of_Significant_Account

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2014

Summary of Significant Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The preparation of financial statements in conformity with US GAAP requires management to make estimates that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Although the company uses its best estimates and judgments, actual results could differ from these estimates as future confirming events occur.

Reporting and functional currency

The Company’s functional and Group’s reporting currency is the US dollar ("USD").

The national currency of Ukraine, Ukrainian Hryvnia (“UAH”) is the functional currency for the Group’s entities that operate in Ukraine. Monetary assets and liabilities denominated in currencies other than the US dollar have been translated into US dollar at the rate prevailing at each balance sheet date. Non-monetary assets and liabilities in currencies other than the US dollar have been translated into US dollars at historical rates. Non US dollar revenues, expenses and cash flows have been translated into US dollars at rates, which approximate actual rates at the date of the transaction. Translation differences resulting from the use of these rates are included in the statement of income.

The cumulative translation effects for those entities using functional currencies other than the US dollar are included in “Foreign currency translation adjustment” on the statement of equity.

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 amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.

Revenue recognition

Revenues from the sale of natural gas are recognized when title passes to customers, collection of the relevant receivable is probable, persuasive evidence of an arrangement exists and the sale price is fixed or determinable.

Cash

Cash and cash equivalents comprise cash balances, call deposits and certificates of deposit with an original maturity of less than three months.

Inventories

Inventories are stated at the lower of current market value or cost. The cost of inventories is based on the FIFO (first in first out) method and includes expenditures and other charges directly and indirectly incurred in bringing the inventory to its existing condition and location. Inventories are comprised of pipe and other material used to extract gas.

Accounts receivable

Accounts receivable are recorded at their transaction amounts less allowance for doubtful accounts. Allowance for doubtful accounts is recorded to the extent that there is a likelihood that any of the amounts due will not be obtained.

The allowance is based on historical experience, current and expected economic trends and specific information about customer accounts. Accordingly, actual results may differ from these estimates under different assumptions or conditions at the date of the financial statements and the reported amount of revenues and expenses during those reporting periods.

Property, plant and equipment

Depreciation, depletion and amortization, based on cost less estimated salvage value of the asset, are primarily determined under either the unit-of-production method or the straight-line method, which is based on estimated asset service life taking obsolescence into consideration. Maintenance and repairs, including planned major maintenance, are expensed as incurred. Major renewals and improvements are capitalized and the assets replaced are retired.

Production costs are expensed as incurred. Production involves lifting the gas to the surface and gathering, treating, field processing and field storage of the gas. Production costs are those incurred to operate and maintain wells and related equipment and facilities. These costs become part of the cost of gas produced.

Interest costs incurred to finance expenditures during the construction phase of multiyear projects are capitalized as part of the historical cost of acquiring the constructed assets. The project construction phase commences with the development of the detailed engineering design and ends when the constructed assets are ready for their intended use.

Gas properties (wells) are accounted for using the successful efforts method of accounting whereby property acquisitions, successful exploratory wells, development costs, and support equipment and facilities are capitalized and depleted using the unit-of-production method. Unsuccessful exploratory wells are expensed when a well is determined to be non-productive. Other exploratory expenditures, including geological and geophysical cost are expensed as incurred.

The Company capitalizes costs related to exploratory wells and exploratory-type stratigraphic wells for more than one year if the well has found a sufficient quantity of reserves to justify its completion as a producing well and the company is making sufficient progress assessing the reserves and the economic and operating viability of the project. If these conditions are not met or if information that raises substantial doubt about the economic or operational viability of the project is obtained, the well would be assumed impaired, and its cost, net of any salvage value, would be charged to operating expenses.

The capitalized costs of all other plant and equipment are depreciated or amortized over their estimated useful lives on a straight-line basis.

Long-lived assets, including gas properties, are assessed for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Such events include write-downs of proved reserves based on field performance, significant decreases in the market value of an asset, significant change in the extent or manner of use of or a physical change in an asset, and a more-likely-than-not expectation that a long-lived asset or asset group will be sold or otherwise disposed of significantly sooner than the end of its previously estimated useful life. Recoverability of assets to be held and used is measured by a comparison of their carrying amount with their estimated undiscounted future cash flows expected to be generated by such assets. Impaired assets are written down to their estimated fair values, generally their discounted, future net before-tax cash flows.

Asset retirement obligation and environmental liabilities

The Company incurs asset retirement obligations for certain assets. These obligations may include the costs of asset disposal and additional soil remediation. The fair value of a liability for an asset retirement obligation is recorded as a liability when there is a legal obligation associated with the retirement of a long-lived asset and the amount can be reasonably estimated. In the estimation of fair value, the Company uses assumptions and judgments regarding such factors as the existence of a legal obligation for an asset retirement obligation; technical assessments of the assets; estimated amounts and timing of settlements; discount rates; and inflation rates. The costs associated with these liabilities are capitalized as part of the related assets and depreciated. Over time, the liabilities are accreted for the change in their present value.

Liabilities for environmental costs are recorded when it is probable that obligations have been incurred and the amounts can be reasonably estimated. Environmental expenditures that relate to ongoing operations or to conditions caused by past operations are expensed. Expenditures that create future benefits or contribute to future revenue generation are capitalized.

The gross amount of environmental liabilities is based on the Company’s best estimate of future costs using currently available technology. Future amounts are not discounted.

Start-up Costs

In accordance with ASC 720, “Start-up Activities,” the Company expenses all costs incurred in connection with the start-up and organization of the Company.

Common Stock Issued For Other Than Cash Proceeds

Services purchased and other transactions settled in the Company's common stock are recorded at the estimated fair value of the common stock issued if that value is more readily determinable than the fair value of the consideration received.

Income taxes

Income taxes represent amounts paid or estimated to be payable, net of amounts refunded or estimated to be refunded, for the current year and the change in deferred taxes, exclusive of amounts recorded in other comprehensive income.

Deferred income tax assets and liabilities are determined based on temporary differences between the financial reporting and tax bases of assets and liabilities and are recognized using enacted tax rates for the effect of such temporary differences. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized.

In accounting for uncertainty in income taxes of a tax position taken or expected to be taken in a tax return, the Company utilizes a recognition threshold and measurement attribute for the financial statement recognition and measurement. The recognition threshold requires the Company to determine whether it is more likely than not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position in order to record any financial statement benefit. If it is more likely than not that a tax position will be sustained, then the Company must measure the tax position to determine the amount of benefit to recognize in financial statements. The tax position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company recognizes interest and penalties accrued related to unrecognized tax benefits in income tax expense.

Net Income or (Loss) Per Share of Common Stock

The following table sets forth the computation of basic and diluted earnings per share:

For the three

For the nine

months ended

30-Sep

2014

2013

2014

2013

Net loss

(80,012

)

(3,671,468

)

(455,613

)

(3,838,497

)

Weighted average common shares outstanding (Basic and Diluted)

51,297,135

42,202,888

51,247,090

42,202,888

Net loss per share (Basic and diluted)

(0.00

)

(0.09

)

(0.01

)

(0.09

)

As of September 30, 2014 and December 31, 2013, the Company had 51,562,896 and 51,177,896 shares issued and outstanding, respectively. The Company had 155,000 potentially dilutive warrants issued and outstanding at September 30, 2014. For the three and nine months ended September 30, 2014 and 2013, the Company was in a loss position and the basic and diluted loss per share are the same since the effect of stock options and warrants on loss per share was anti-dilutive and thus not included in the diluted loss per share calculation.

Significant Concentrations

There is currently one customer that makes up 100% of total gas revenue as of September 30, 2014, and September 30, 2013, respectively. The loss of this customer would have a material adverse effect on the Company’s financial condition and results of operations.

Recently Enacted Accounting Standards

Based on our review of recently enacted accounting standards, the Company believes that none of them are expected to a have a material impact on the Company's financial position, results of operations or cash flows.

Property_Plant_and_Equipment

Property Plant and Equipment	9 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
PROPERTY, PLANT, AND EQUIPMENT	'



	NOTE 4 – PROPERTY, PLANT AND EQUIPMENT



		September 30,			December 31,
		2014			2013

	Wells and related equipment and facilities	$	709,066		$	1,199,912
	Buildings, equipment, vehicles, and other PPE		387,478			657,439
			1,096,544			1,857,351
	Less: Accumulated depreciation		(492,189	)		(766,814	)
			604,355			1,090,537



	The Group’s property, plant and equipment listed above include asset retirement costs associated with its asset retirement obligations (Note 6).



	Exploratory wells



	The following two tables provide details of the changes in the balance of suspended exploratory well costs as well as an aging summary of those costs.



	Change in capitalized suspended exploratory well costs:



		September 30,			December 31,
		2014			2013

	Beginning balance	$	412,028		$	412,028
	Effect of translation to presentation currency		(171,706	)		-
	Ending balance		240,322			412,028



	Aging of capitalized suspended exploratory well costs:



		September 30,			December 31,
		2014			2013

	Capitalized for a period of one year or less	$	-		$	-
	Capitalized for a period of between one and five years		33,283			33,283
	Capitalized for a period of between five and ten years		374,274			378,745
	Capitalized for a period of greater than ten years		4,471			-
	Effect of translation to presentation currency		(171,706	)		-
			240,322			412,028



	Capitalized exploratory well costs are related to one project, represented by two wells drilled during 2003-2004: $103,144 and $134,331 and related expenses of $2,847 as of September 30, 2014. Decrease in value of these expenses was due to foreign currency devaluation. Due to technical and geological reasons, the wells were suspended in 2005. Currently, the Company is considering an overhaul and intensification of gas produced from these wells. The final assessment of the operational and economic viability of the production from those wells is expected at the end of 2015.

Related_Parties

Related Parties	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
RELATED PARTIES	'

	NOTE 5 – RELATED PARTIES



			September 30, 2014		December 31,
					2013
	Note payable to related parties		$	349,551	$	341,953
	Related party payables			152,525		3,025
				502,076		344,978



	Total amounts due to related parties as of September 30, 2014 and December 31, 2013 was $502,076 and $344,978, respectively.



	Notes payable to related parties consists of the following agreements:



		1)	On August 5, 2014, the Company entered into a financial support agreement with LLC “Innovative financial technologies” which provided funds in the amount of $12,051. The total amount available under the agreement is 400,000 UAH (equivalent of $29,572 USD as at September 30, 2014). The agreement is interest free, with an initial repayment term of 6 months for the first tranche and subject to extension.



		2)	On July 25, 2013, GEEI entered into the Option Agreement with BHL, whereby BHL granted to GASE an option to purchase 1,000 shares of equity capital of SSL, representing all issued and outstanding shares of SSL, for $1,250,000. Under the Option Agreement, GEEI was required to pay to BHL $412,500 as an advance payment to be credited towards the purchase price of the SSL shares. The Company made the advance payment on July 25, 2013. The balance of the purchase price in the amount of $837,500 was paid by GEEI upon exercise of the option that was completed on November 25, 2013 by paying to BHL $500,000 in cash and issuing a promissory note in the principal amount of $337,500 for the balance of the option exercise price. The note bears no interest and has a maturity date of December 31, 2013, which was extended to March 31, 2015. The obligations of GEEI under the note are secured by 1,000 shares of SSL purchased by GEEI under the Option Agreement in accordance with the Pledge and Security Agreement dated November 25, 2013 made by GEEI in favor of the collateral agent acting on behalf of BHL. As of September 30, 2014, the Company had reduced the cost of the option by $165,000, paid $2,597 by common shares valued at par, paid $750,000 in cash with $337,500 remaining as a non interest bearing loan to BHL.



	Related party payables consist of reimbursement of expenses and compensation to the Company’s acting Chairman and acting CEO for their services. Each of them was to receive the Company’s common shares in addition to a monthly cash payment for the period of April 15, 2013 through December 31, 2013. The compensation was calculated based on their average hours worked per week applied to an hourly rate that is compatible to the market rate of similar positions. As of September 30 2014 and December 31, 2013 amounts outstanding were $152,525 and 3,025, respectively.

Asset_Retirement_Obligations

Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2014
Asset Retirement Obligations [Abstract]	'
ASSET RETIREMENT OBLIGATIONS	'

	NOTE 6 – ASSET RETIREMENT OBLIGATIONS



	Change in asset retirement obligations:



		Year ended
		September 30, 2014			December 31, 2013
	Beginning balance		56,917			53,591
	Accretion expense		3,646			3,326
	Effect of translation to presentation currency		(24,041	)		-
	Ending balance		36,522			56,917

Stockholders_Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2014
Stockholders' Equity [Abstract]	'
STOCKHOLDERS' EQUITY	'

	NOTE 7 – STOCKHOLDERS’ EQUITY



	As of December 31, 2013, the Company has authorized 110,000,000 shares consisting of 100,000,000 shares of common stock, par value $0.0001 per share, and 10,000,000 shares of blank check preferred stock, par value $0.0001 per share.



	On September 16, 2013, the Company effected a 56-for-1 forward stock split of its issued and outstanding shares of common stock. All common share and per share amounts have been restated for all periods presented for this stock split. As of September 30, 2014 and December 31, 2013, the Company has issued 51,562,896 and 51,177,896 of the authorized shares of common stock respectively.

	On April 15, 2013, the Company issued 330,008 shares of common stock to the President and director as part of their consulting agreements. The shares were valued based on an hourly rate of $150 that is compatible with the market rate for the similar positions and applied to their average of a combined 30 hours per week. The Company valued their services excluding the cash payments at $39,915. The Company also recorded the closing of Great East Energy (NV)’s accumulated deficit to additional paid in capital as part of the share exchange agreement. The shares related to this issuance were cancelled as part of the recapitalization on July 15, 2013.

	On July 25, 2013, the Company issued 25,964,960 shares of Common Stock to BHL in connection with the option grant closing under the Option Agreement. The stock compensation for the period was calculated at par of $0.0001 per common share or $2,597.



	From July 25, 2013 to December 31, 2013, the Company entered into and consummated transactions pursuant to a series of the Subscription Agreements (the “Subscription Agreements”) with certain accredited investors whereby the Company issued and sold to the investors for $1.00 per share an aggregate of 1,439,928 shares of the Company’s Common Stock for an aggregate purchase price of $1,440,000 (the “Private Placement”). The Company paid $89,593 in offering cost related to the private placement.

	On July 25, 2013, the Company cancelled 168,000,000 shares of common stock per the terms of the Share Exchange Agreement.



	During the month of August 2013, the Company issued 3,777,984 shares of common stock to officers, directors, and consultants in exchange for services provided at a value of $1.00 per common share or $3,777,984.



	On November 26, 2013, the Company issued one share of Series A Preferred Stock to BHL. The holder of the Series A Preferred Stock is entitled to vote together with the holders of the Company’s common stock, with such holder entitled to 30% of the total votes on all such matters, and the holders of Common Stock and any other shares entitled to vote are entitled to their proportional share of the remaining 70% of the total votes based on their respective voting power. Each share of Series A Preferred Stock is convertible into one share of the Company’s common stock upon the earlier to occur of (i) Twelve (12) months from July 25, 2013 or (ii) the Company closing financings with gross proceeds of at least $4,000,000 on a cumulative basis from July 25, 2013. Shares of Series A Preferred Stock are not redeemable and have no liquidation preference.



	On January 16, 2014, the Company issued 50,000 shares of Common Stock to an investor for $50,000.



	On February 24, 2014 Mr. Herve Collet was appointed Chief Operating Office. The Company agreed to issue Mr. Collet 300,000 shares of stock of which 150,000 shares vest as of the date of the agreement and 150,000 shares vesting and issued 181 days after the date of the agreement. As of March 31, 2014 the first 150,000 shares had not been issued. On February 24, 2014 the stock was trading at $0.64 whereby the shares were valued at $96,000 and was recorded as a payable to related parties.



	On June 11, 2014, the Company issued 60,000 shares of Common Stock to an investor for $60,000.



	On July 25, 2014, one share of Series A preferred stock was automatically converted into one share of the Company’s common stock.



	On August 28, 2014, the Company issued 25,000 shares of Common Stock to an investor for $25,000.



	On September 24, 2014, the Company and Fedoriv.Com INC LP concluded an agreement to provide comprehensive services for promoting Company’s trademarks and products. The payment for services provided by Fedoriv.Com INC LP is 500,000 shares of Common Stock. On September 26, 2014 the Company issued 250,000 shares of Common Stock to Fedoriv.com Inc. LP.

Stock_Purchase_Warrants

Stock Purchase Warrants	9 Months Ended
Stock Purchase Warrants	Sep. 30, 2014
Stock Purchase Warrants [Abstract]	'
STOCK PURCHASE WARRANTS	'

	NOTE 8 – STOCK PURCHASE WARRANTS



	During the nine month period ended September 30, 2014, the Company issued warrants to purchase a total of 11,000 shares of the Company’s Common Stock. The Company issued the warrants as stock offering costs of 10% of the total dollar value of subscriptions at $1.00 per share under the agreement with the placement agent. The warrants were valued using the Black-Scholes pricing model under the assumptions noted below totaling $3,698 booked to additional paid in capital and offset as stock issuance fees. Volatility was calculated by using the average volatility of three benchmark companies in the same line of business with similar revenues and assets. The Company apportioned value to the warrants based on the relative fair market value of the Common Stock and warrants.



	There were no warrants issued during the third quarter of 2014.



	The following table presents the assumptions used to estimate the fair values of the stock warrants and options granted during the nine months ended September 30, 2014:



		2014			2013
	Expected volatility		287-364	%		287-294	%
	Expected dividends		0	%		0	%
	Expected term		5 Years			5 Years
	Risk-free interest rate		1.36-1.70	%		1.36-1.43	%



	The following table summarizes the changes in warrants outstanding issued to employees and non-employees of the Company during the nine months ended September 30, 2014.



	Date Issued	Number of			Weighted Average Exercise			Weighted Average		Expiration
		Warrants			Price			Grant Date Fair		Date
								Value		(yrs)
	Balance December 31, 2013		144,000		$	1		$	1		5
	Granted		11,000			1			0.34		5
	Exercised		-			-			-		-
	Cancelled/Expired
	Outstanding as of September 30, 2014		155,000		$	1		$	0.95		5

Taxes_Payable

Taxes Payable	9 Months Ended
	Sep. 30, 2014
Taxes Payable [Abstract]	'
TAXES PAYABLE	'

	NOTE 9 – TAXES PAYABLE



		September 30, 2014		December 31, 2013

	VAT payable		927		4,432
	Other taxes payable		10,661		5,135
			11,588		9,567

Foreign_Currency_Translation

Foreign Currency Translation	9 Months Ended
Foreign Currency Translation	Sep. 30, 2014
Foreign Currency Translation [Abstract]	'
FOREIGN CURRENCY TRANSLATION	'

	NOTE 10 – FOREIGN CURRENCY TRANSLATION



	Transactions involving the Company's two natural gas companies in Ukraine, are denominated in Ukrainian Hryvnia. Assets and liabilities denominated in Ukrainian Hryvnia are revalued to the United States dollar equivalent. The effect of change in exchange rates from the transaction dates to the reporting date, for assets and liabilities, is reported as a Cumulative Currency Translation Adjustment and included in Other Comprehensive Gains or (Losses). As of September 30, 2014, the Company’s accumulated translation loss totaled $434,333.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2014
Commitments and Contingencies [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'



	NOTE 11 –COMMITMENTS AND CONTINGENCIES



	Operating environment



	The principal business activities of the Group are within Ukraine. Emerging markets such as Ukraine are subject to different risks than more developed markets, including economic, political and social, legal and legislative risks. As has happened in the past, actual or perceived financial problems or an increase in the perceived risks associated with investing in emerging economies could adversely affect the investment climate in Ukraine and the Ukraine’s economy in general. Laws and regulations affecting businesses operating in Ukraine are subject to rapid changes and the Group’s assets and operations could be at risk if there are any adverse changes in the political and business environment.



	Taxation



	The tax environment in Ukraine is constantly changing and characterized by numerous taxes and frequently changing legislation, which may be applied retroactively and are often unclear, contradictory, and subject to interpretation. Taxes are subject to review and investigation by a number of authorities, which are enabled by law to impose severe fines, penalties and interest charges and these amounts could be material. Future tax examinations could raise issues or assessments which are contrary to the Group companies’ tax filings.



	Management believes that it has provided adequately for tax liabilities based on its interpretations of applicable tax legislation and official pronouncements.



	Environmental liabilities



	The Group routinely evaluates their obligations relating to new and changing environmental legislation.



	As liabilities in respect of the Group’s environmental obligations are able to be determined, they are recognized immediately. The likelihood and amount of liabilities relating to environmental obligations under proposed or any future legislation cannot be reasonably estimated at present and could become material. Under existing legislation, however, management believes that there are no significant unrecorded liabilities or contingencies, which could have a materially adverse effect on the operating results or financial position of the Group.



	Political Risks



	After continuous political and social turbulence that resulted in dismissal of the acting President of Ukraine, on February 27, 2014, the Ukrainian parliament appointed an interim government with a mandate to execute the Ukraine-EU Association and Free trade agreements, negotiated USD 16 billion IMF program in order to support implementation of liberal economic, judicial and social reforms. The Parliament also scheduled presidential elections which took place May 25, 2014. The US and European Union also agreed to provide additional USD 20 billion financial and technical support for Ukraine in light of its recent economic and military tensions with Russian Federation. The Parliament also scheduled the presidential elections, which took place on May 25, 2014. As a result Mr. Petro Poroshenko won the presidency with overwhelming majority in first round.



	Political unrest in Ukraine of the past months and recent increase in political, economic and military pressures from Russian Federation, had fueled activity of various secessionist groups in the eastern part of the country. This may have an adverse effect on the national security and economy, and increase risks of doing business in Ukraine or investing in the companies doing business in Ukraine. The situation is exacerbated by the tensions with the Russian Federation which annexed the Crimean peninsula in March 2014 and built up a significant military presence at its border with Ukraine. Russia actively provides financial, military and human resources to illegal armed groups, which are active in some north-eastern parts of Donbass. In order to counteract to such activities and potential consequences, starting from April, the government, enforcement agencies and armed forces of Ukraine are implementing anti terrorists operation (ATO).



	Petr Poroshenko, the President of Ukraine elected in May 2014, presented his program of peaceful regulation of the situation in the East of Ukraine. Based on this peaceful plan, the signing of the protocol which contains the steps and measures aimed at de-escalation of the situation in Donetsk and Lugansk regions took place in Minsk at the beginning of September.



	This protocol was signed by Ukraine, the Organization for Security and Co-operation in Europe (OSCE) and Russia and contains 12 steps which regulate the process of implementation of peace on the given territory. In connection with signing the cessation of arms and cease-fire was announced. Together with that, the terrorists do not follow this condition and the locations of Ukrainian army undergo the firing.



	At the end of August, the President of Ukraine announced about the dismissal of the Parliament and the pre-term elections to the Parliament on October 26th.



During September-October the Parliament adopted several important laws including the laws aimed at the reforms in Ukraine and improvement of the investment climate in Ukraine: laws on the public prosecutor’s office, the National anti-corruption bureau of Ukraine and on the prevention of corruption.



The territory where the licensed area of the Company is located and the operation activity is implemented is located on the territory controlled by Ukrainian military forces. The bank system (commercial banks and the National Bank of Ukraine) and the system of the state regulation (state and tax administrations) fully function, which enables the Company to receive the cash assets in time and make all necessary payments.



October 26, 2014 early parliamentary elections took place. The elections were held under a mixed system: 225 deputies from parties and 225 deputies by majority districts. According to the results of the parliamentary elections were held six political parties: Block Poroshenko, the Narodnuy Front (Yatsenyuk), Samopomich, Opposition bloc, the Radical Party and the Batkivshchyna (Yulia Tymoshenko). Four parties announced the beginning of negotiations on forming a coalition and formation of a new Cabinet of Ministers. The coalition will be formed on the basis of the European choice of Ukraine, the need for structural economic reforms and the restoration of the territorial integrity of the country. The European Union, the International Monetary Fund and others international financial institution support efforts of Ukraine government and provide financial assistance and loans.



Such events and circumstances have an adverse effect on investment climate in Ukraine and in case of further escalation might have further negative impact on the business environment.



Equipment



On July 22, 2014, the Company entered into an agreement for supply of a two-stage compressor in the Ukraine. The cost of the compressor is 19,090 EUR. The equipment will be complete and delivered in approximately 11 weeks. The payment for the equipment is to be made by two payments: 40% was paid after the signing of agreement (11,454 EUR) and the balance of 60% after the delivery. Delivery is expected in the Ukraine in November.

Going_Concern

Going Concern	9 Months Ended
Going Concern	Sep. 30, 2014
Going Concern [Abstract]	'
GOING CONCERN	'



	NOTE 12 – GOING CONCERN



	The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, which contemplates continuation of the Company as a going concern. The Company has incurred $3,275,040 in accumulated deficit since its inception and has generated $57,236 and $175,946, in operating revenue during the three and nine months ended September 30, 2014. These matters raise substantial doubt about the Company’s ability to continue as a going concern.



	In view of these matters, realization of the assets of the Company is dependent upon the Company’s ability to meet its financial requirements through equity financing and the success of future operations. These condensed consolidated financial statements do not include adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

Subsequent_Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2014
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'

	NOTE 13 – SUBSEQUENT EVENTS



	The Company has evaluated events from September 30, 2014 through the date the financial statements were issued and determined no subsequent events warranted accounting disclosure.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2014

Summary of Significant Accounting Policies [Abstract]

Basis of Presentation

Reporting and functional currency

The Company’s functional and Group’s reporting currency is the US dollar ("USD").

The cumulative translation effects for those entities using functional currencies other than the US dollar are included in “Foreign currency translation adjustment” on the statement of equity.

Use of Estimates

Revenue recognition

Cash

Cash and cash equivalents comprise cash balances, call deposits and certificates of deposit with an original maturity of less than three months.

Inventories

Accounts receivable

Property, plant and equipment

The capitalized costs of all other plant and equipment are depreciated or amortized over their estimated useful lives on a straight-line basis.

Asset retirement obligation and environmental liabilities

The gross amount of environmental liabilities is based on the Company’s best estimate of future costs using currently available technology. Future amounts are not discounted.

Start-up Costs

In accordance with ASC 720, “Start-up Activities,” the Company expenses all costs incurred in connection with the start-up and organization of the Company.

Common Stock Issued For Other Than Cash Proceeds

Income taxes

Net Income or (Loss) Per Share of Common Stock

The following table sets forth the computation of basic and diluted earnings per share:

For the three

For the nine

months ended

30-Sep

2014

2013

2014

2013

Net loss

(80,012

)

(3,671,468

)

(455,613

)

(3,838,497

)

Weighted average common shares outstanding (Basic and Diluted)

51,297,135

42,202,888

51,247,090

42,202,888

Net loss per share (Basic and diluted)

(0.00

)

(0.09

)

(0.01

)

(0.09

)

Significant Concentrations

Recently Enacted Accounting Standards

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 30, 2014
Summary of Significant Accounting Policies [Abstract]	'
Schedule of basic and diluted earnings per share	'



		For the three						For the nine
		months ended						months ended
		30-Sep						30-Sep
		2014			2013			2014			2013
	Net loss	$	(80,012	)	$	(3,671,468	)	$	(455,613	)	$	(3,838,497	)
	Weighted average common shares outstanding (Basic and Diluted)		51,297,135			42,202,888			51,247,090			42,202,888
	Net loss per share (Basic and diluted)	$	(0.00	)	$	(0.09	)	$	(0.01	)	$	(0.09	)

Property_Plant_and_Equipment_T

Property Plant and Equipment (Tables)	9 Months Ended
Property Plant and Equipment (Tables)	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Schedule of asset retirement obligations	'


		September 30,			December 31,
		2014			2013

	Wells and related equipment and facilities	$	709,066		$	1,199,912
	Buildings, equipment, vehicles, and other PPE		387,478			657,439
			1,096,544			1,857,351
	Less: Accumulated depreciation		(492,189	)		(766,814	)
			604,355			1,090,537

Schedule of exploratory wells cost	'


	Change in capitalized suspended exploratory well costs:



		September 30,			December 31,
		2014			2013

	Beginning balance	$	412,028		$	412,028
	Effect of translation to presentation currency		(171,706	)		-
	Ending balance		240,322			412,028



	Aging of capitalized suspended exploratory well costs:



		September 30,			December 31,
		2014			2013

	Capitalized for a period of one year or less	$	-		$	-
	Capitalized for a period of between one and five years		33,283			33,283
	Capitalized for a period of between five and ten years		374,274			378,745
	Capitalized for a period of greater than ten years		4,471			-
	Effect of translation to presentation currency		(171,706	)		-
			240,322			412,028

Related_Parties_Tables

Related Parties (Tables)	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Schedule of related party transactions	'

		September 30, 2014		December 31,
				2013
	Note payable to related parties	$	349,551	$	341,953
	Related party payables		152,525		3,025
			502,076		344,978

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	9 Months Ended
Asset Retirement Obligations (Tables)	Sep. 30, 2014
Asset Retirement Obligations [Abstract]	'
Schedule of changes in asset retirement obligation	'

		Year ended
		September 30, 2014			December 31, 2013
	Beginning balance		56,917			53,591
	Accretion expense		3,646			3,326
	Effect of translation to presentation currency		(24,041	)		-
	Ending balance		36,522			56,917

Stock_Purchase_Warrants_Tables

Stock Purchase Warrants (Tables) (Warrant [Member])	9 Months Ended
Stock Purchase Warrants (Tables) (Warrant [Member])	Sep. 30, 2014
Warrant [Member]	'
Shedule of assumptions used to estimate the fair values of the stock warrants and options granted	'

		2014			2013
	Expected volatility		287-364	%		287-294	%
	Expected dividends		0	%		0	%
	Expected term		5 Years			5 Years
	Risk-free interest rate		1.36-1.70	%		1.36-1.43	%


Shedule of changes in warrants outstanding issued to employees and non-employees	'



	Date Issued	Number of			Weighted Average Exercise			Weighted Average		Expiration
		Warrants			Price			Grant Date Fair		Date
								Value		(yrs)
	Balance December 31, 2013		144,000		$	1		$	1		5
	Granted		11,000			1			0.34		5
	Exercised		-			-			-		-
	Cancelled/Expired
	Outstanding as of September 30, 2014		155,000		$	1		$	0.95		5

Taxes_Payable_Tables

Taxes Payable (Tables)	9 Months Ended
Taxes Payable (Tables)	Sep. 30, 2014
Taxes Payable [Abstract]	'
Schedule of taxes payable	'

		September 30, 2014		December 31, 2013

	VAT payable		927		4,432
	Other taxes payable		10,661		5,135
			11,588		9,567

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Jul. 25, 2013	Jul. 25, 2013	Jul. 25, 2013	Nov. 25, 2013	Sep. 30, 2014
Organization and Basis of Presentation (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Share Exchange Agreement [Member]	Synderal Services LTD [Member]	BHL [Member]	BHL [Member]	BHL [Member]
Organization and Basis of Presentation (Textual)	'	'	'	'	'	'	'
Common stock percentage	'	'	100.00%	'	'	'	'
Common stock shares newly issued	'	'	330,008	'	'	'	'
Common stock par value	$0.00	$0.00	$0.01	'	'	'	'
Option to purchase shares	'	'	1,000	'	'	'	'
Option granted to purchase common stock, value	'	'	'	$1,250,000	'	$1,250,000	'
Convertible promissory note, Maturity Date	'	'	'	'	'	'	31-Mar-15
Advance payment	'	'	'	'	412,500	'	'
Secured shares for promissory note	'	'	'	'	'	1,000	'
Balance purchase price paid	'	'	'	'	837,500	'	'
Cash paid to BHL	'	'	'	'	'	500,000	750,000
Principal amount of promissory note	'	'	'	'	'	$337,500	'

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Computation of basic and diluted earnings per share:	'	'	'	'
Net loss	($80,012)	($3,671,468)	($455,613)	($3,838,497)
Weighted average common shares outstanding (Basic and Diluted)	51,297,135	42,202,888	51,247,090	42,202,888
Net loss per share (Basic and diluted)	$0	($0.09)	($0.01)	($0.09)

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details Textual)	9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013
Summary of Significant Accounting Policies (Textuals)	'	'	'
Common stock, shares issued	51,562,896	51,177,896	'
Common stock, shares outstanding	51,562,896	51,177,896	'
Gas revenue attributable to one customer	100.00%	'	100.00%
Unrecognized tax benefits, Percentage	50.00%	'	'
Warrant [Member]	'	'	'
Summary of Significant Accounting Policies (Textuals)	'	'	'
Earnings per share, potentially dilutive securities	155,000	'	'

Property_Plant_and_Equipment_D

Property Plant and Equipment (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]	'	'
Wells and related equipment and facilities	$709,066	$1,199,912
Buildings, equipment, vehicles, and other PPE	387,478	657,439
Property, plant, and equipment gross	1,096,544	1,857,351
Less: Accumulated depreciation	-492,189	-766,814
Property, plant and equipment, net	$604,355	$1,090,537

Recovered_Sheet1

Property Plant and equipment (Details 1) (USD $)	9 Months Ended	12 Months Ended
Property Plant and equipment (Details 1) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]	'	'
Beginning balance	$412,028	$412,028
Effect of translation to financial reporting currency	-171,706	'
Ending balance	$240,322	$412,028

Property_Plant_and_Equipment_D1

Property Plant and Equipment (Details 2) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Aging of capitalized suspended exploratory well costs:	'	'
Capitalized for a period of one year or less	'	'
Capitalized for a period of between one and five years	33,283	33,283
Capitalized for a period of between five and ten years	374,274	378,745
Capitalized for a period of greater than ten years	4,471	'
Effect of translation to presentation currency	-171,706	'
Capitalized exploratory well costs, Total	$240,322	$412,028

Property_Plant_and_Equipment_D2

Property Plant and Equipment (Details Textual) (USD $)	9 Months Ended
	Sep. 30, 2014
	Drill
Property, Plant and Equipment (Textual)	'
Exploratory costs related to one project, represented by drilled well one	$103,144
Exploratory costs related to one project, represented by drilled well two	134,331
Number of wells drilled	2
Capitalized exploratory well cost, Charged to related expense	$2,847

Related_Parties_Details

Related Parties (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Schedule of related parties transaction	'	'
Notes payable to related parties	$349,551	$341,953
Notes Payable, Related Parties	152,525	3,025
Related party payables, Total	$502,076	$344,978

Related_Parties_Details_Textua

Related Parties (Details Textual)	Sep. 30, 2014	Dec. 31, 2013	Jul. 25, 2013	Nov. 25, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Aug. 05, 2014
	USD ($)	USD ($)	BHL [Member]	BHL [Member]	BHL [Member]	Innovative Financial Technologies [Member]	Innovative Financial Technologies [Member]	Innovative Financial Technologies [Member]
			USD ($)	USD ($)	USD ($)	USD ($)	UAH	USD ($)
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'
Related party payables	$502,076	$344,978	'	'	'	'	'	'
Option granted to purchase common stock	'	'	'	1,000	'	'	'	'
Option granted to purchase common stock, value	'	'	'	1,250,000	'	'	'	'
Advance payment to related party	'	'	412,500	'	'	'	'	'
Balance purchase price paid	'	'	837,500	'	'	'	'	'
Cash paid to related party	'	'	'	500,000	750,000	'	'	'
Promissory note issued to related party	'	'	'	337,500	'	'	'	'
Secured shares for promissory note	'	'	'	1,000	'	'	'	'
Reduction in cost of the option	'	'	'	'	165,000	'	'	'
Promissory note maturity date	'	'	'	'	31-Mar-15	'	'	'
Amount paid through issuance of common stock	'	'	'	'	2,597	'	'	'
Non interest loan to related party	'	'	'	'	337,500	'	'	'
Related party payables	$152,525	$3,025	'	'	'	$29,572	400,000	$12,051

Asset_Retirement_Obligations_D

Asset Retirement Obligations (Details) (USD $)	9 Months Ended	12 Months Ended
Asset Retirement Obligations (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Change in asset retirement obligations:	'	'
Beginning balance	$56,917	$53,591
Accretion expense	3,646	3,326
Effect of translation to presentation currency	-24,041	'
Ending balance	$36,522	$56,917

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)

1 Months Ended

0 Months Ended

9 Months Ended

1 Months Ended

0 Months Ended

5 Months Ended

0 Months Ended

1 Months Ended

Nov. 26, 2013

Sep. 16, 2013

Apr. 15, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Feb. 24, 2014

Aug. 28, 2014

Jun. 11, 2014

Jan. 16, 2014

Sep. 26, 2014

Sep. 24, 2014

Dec. 31, 2013

Jul. 25, 2013

Nov. 25, 2013

Aug. 31, 2013

Mr. Herve Collet [Member]

Investor [Member]

Fedoriv.com Inc. LP [Member]

Subscription Agreements [Member]

Option Agreement [Member]

Share Exchange Agreement [Member]

Accredited Investors [Member]

BHL [Member]

Subsidiary, Sale of Stock [Line Items]

Common stock, shares authorized

100,000,000

Common stock par value

$0.00

Preferred stock, shares authorized

9,999,999

Preferred stock par value

$0.00

Stock split description

'Company effected a 56-for-1 forward stock split of its issued and outstanding shares of common stock.

Common stock, shares issued

51,562,896

51,177,896

Common stock value calculation, Description

'The shares were valued based on an hourly rate of $150 that is compatible with the market rate for the similar positions and applied to their average of a combined 30 hours per week.

Common stock issued for services, Value

$39,915

($22,500)

$3,777,984

Common stock issued for services, Shares

330,008

500,000

25,964,960

3,777,984

Common stock issued during period, Value

25,000

60,000

50,000

1,440,000

2,597

Common stock issued during period, Shares

25,000

60,000

50,000

250,000

1,439,928

Share issued for service, Price per share

$0.00

Sale of common stock, price per share

Offering cost on private placement

89,593

Cancelled shares of common stock

168,000,000

Number of stock granted

300,000

Number of stock vested

150,000

Shares trading per share

$0.64

Amount payable to related parties

$96,000

Preferred stock conversion, Description

'Company issued one share of Series A Preferred Stock to BHL. The holder of the Series A Preferred Stock is entitled to vote together with the holders of the Company's common stock, with such holder entitled to 30% of the total votes on all such matters, and the holders of Common Stock and any other shares entitled to vote are entitled to their proportional share of the remaining 70% of the total votes based on their respective voting power. Each share of Series A Preferred Stock is convertible into one share of the Company's common stock upon the earlier to occur of (i) Twelve (12) months from July 25, 2013 or (ii) the Company closing financings with gross proceeds of at least $4,000,000 on a cumulative basis from July 25, 2013. Shares of Series A Preferred Stock are not redeemable and have no liquidation preference.

Stock_Purchase_Warrants_Detail

Stock Purchase Warrants (Details)	9 Months Ended	12 Months Ended
Stock Purchase Warrants (Details)	Sep. 30, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected dividends	0.00%	0.00%
Expected term	'5 years	'5 years
Minimum [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected volatility	287.00%	287.00%
Risk-free interest rate	1.36%	1.36%
Maximum [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected volatility	364.00%	294.00%
Risk-free interest rate	1.70%	1.43%

Stock_Purchase_Warrants_Detail1

Stock Purchase Warrants (Details 1) (Warrant [Member], USD $)	9 Months Ended
	Sep. 30, 2014
Warrant [Member]	'
Number of Warrants	'
Balance	144,000
Granted	11,000
Exercised	'
Outstanding	155,000
Weighted Average Exercise Price	'
Balance	$1
Granted	$1
Exercised	'
Outstanding	$1
Weighted Average Grant Date Fair Value	'
Balance	$1
Granted	$0.34
Outstanding	$0.95
Expiration Date (yrs)	'
Balance	'5 years
Granted	'5 years
Outstanding	'5 years

Stock_Purchase_Warrants_Detail2

Stock Purchase Warrants (Details Textual) (USD $)	9 Months Ended
Stock Purchase Warrants (Details Textual) (USD $)	Sep. 30, 2014
Warrants issued to purchase common stock	11,000
Stock offering cost percentage	10.00%
Value of subscriptions, Per share	$1
Additional paid in capital	$3,698

Taxes_Payable_Details

Taxes Payable (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Taxes Payable [Abstract]	'	'
VAT payable	$927	$4,432
Other taxes payable	10,661	5,135
Taxes payable	$11,588	$9,567

Foreign_Currency_Translation_D

Foreign Currency Translation (Details) (USD $)	3 Months Ended		9 Months Ended
Foreign Currency Translation (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Foreign Currency Translation [Abstract]	'	'	'	'
Foreign currency translation adjustment	($86,396)	'	($434,333)	($501)
Foreign currency transactions, description	'	'	'Transactions involving the Company's two natural gas companies in Ukraine, are denominated in Ukrainian Hryvnia.	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (EUR €)	1 Months Ended
Commitments and Contingencies (Details) (EUR €)	Jul. 22, 2014
Commitments and Contingencies (Textual)	'
Cost of the compressor	€ 19,090
Payments made to acquire compressor	€ 11,454
Description on payment and delivery of compressor	'The payment for the equipment is to be made by two payments: 40% was paid after the signing of agreement (11,454 EUR) and the balance of 60% after the delivery. Delivery is expected in the Ukraine in November.

Going_Concern_Details

Going Concern (Details) (USD $)	3 Months Ended		9 Months Ended
Going Concern (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Going Concern [Abstract]	'	'	'	'
Accumulated deficit	$3,275,040	'	$3,275,040	'
Operating revenue	$57,236	$86,957	$175,946	$255,837