PetroGas (PTCO) 10-K 26 Jun 19 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2019	Jun. 26, 2019	Sep. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	PetroGas Co
Entity Central Index Key	0001609258
Document Type	10-K
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		3,874,473
Entity Public Float			$ 4,544,994
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Ex Transition Period	false
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Shell Company	true

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Current Assets
Cash and cash equivalents	$ 387	$ 5,176
Total Current Assets	387	5,176
Oil and gas, on the basis of full cost accounting
Unproved Property		29,158
TOTAL ASSETS	387	34,334
Current Liabilities
Accounts payable and accrued liabilities	24,320	20,550
Accrued interest	32,544	8,238
Advances from related party	28,541	28,541
Total Current Liabilities	85,405	57,329
Long-term liabilities
Asset retirement obligations	83,580	83,580
Convertible promissory notes, net of discount of $43,696 and $77,968, respectively	132,746	68,035
Promissory note	42,683	42,683
Total long-term liabilities	259,009	194,298
TOTAL LIABILITIES	344,414	251,627
SHAREHOLDERS' DEFICIT
Common stock: 300,000,000 authorized; $0.001 par value 300,993 shares issued and outstanding	301	301
Additional paid in capital	1,326,435	1,295,996
Accumulated deficit	(1,670,763)	(1,513,590)
TOTAL SHAREHOLDERS' DEFICIT	(344,027)	(217,293)
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT	$ 387	$ 34,334

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Long-term liabilities
Discount of convertible promissory notes (in dollars)	$ 43,696	$ 77,968
SHAREHOLDERS' DEFICIT
Common stock, shares authorized	300,000,000	300,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued	300,993	300,993
Common stock, shares outstanding	300,993	300,993

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statements Of Operations
ROYALTY REVENUE	$ 1,550	$ 1,502
OPERATING EXPENSES
General and administrative expense	40,549	56,902
TOTAL OPERATING EXPENSES	40,549	56,902
Loss from Operations	(38,999)	(55,400)
OTHER EXPENSES (INCOME)
Gain on sale of royalty interest and unproven property		(900)
Impairment of oil and gas leases	29,158
Interest expense	89,016	115,613
Total other expenses	118,174	114,713
NET LOSS	$ (157,173)	$ (170,113)
NET LOSS PER SHARE, BASIC AND DILUTED	$ (0.52)	$ (1.16)
WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC AND DILUTED	300,993	146,693

STATEMENTS OF SHAREHOLDERS_ DEF

STATEMENTS OF SHAREHOLDERS? DEFICIT - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance, Shares at Mar. 31, 2017	2,993
Beginning Balance, Amount at Mar. 31, 2017	$ 3	$ 1,026,606	$ (1,343,477)	$ (316,868)
Shares issued for conversion, Shares	298,000
Shares issued for conversion, Amount	$ 298	81,702		82,000
Convertible notes debt discount		187,688		187,688
Net loss			(170,113)	(170,113)
Ending Balance, Shares at Mar. 31, 2018	300,993
Ending Balance, Amount at Mar. 31, 2018	$ 301	1,295,996	(1,513,590)	(217,293)
Convertible notes debt discount		30,439		30,439
Net loss			(157,173)	(157,173)
Ending Balance, Shares at Mar. 31, 2019	300,993
Ending Balance, Amount at Mar. 31, 2019	$ 301	$ 1,326,435	$ (1,670,763)	$ (344,027)

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$ (157,173)	$ (170,113)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment of oil and gas leases	29,158
Amortization of debt discount	64,711	109,720
Gain on sale of unproved oil and gas properties		(900)
Changes in operating assets and liabilities:
Prepaid expenses		129
Accounts payable and accrued liabilities	3,770	5,508
Accrued interest	24,306	5,892
Net cash used in Operating Activities	(35,228)	(49,764)
CASH FLOWS FROM INVESTING ACTIVITIES
Sale of unproven oil and gas assets		(235)
Net cash provided by Investing Activities		(235)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from related party		24,156
Issuance of convertible promissory notes	30,439	30,003
Net cash provided by Financing Activities	30,439	54,159
Net (decrease) increase in cash and cash equivalents	(4,789)	4,160
Cash and cash equivalents, beginning of period	5,176	1,016
Cash and cash equivalents, end of period	387	5,176
Supplemental cash flow information
Cash paid for interest
Cash paid for taxes
Non-cash transactions:
Issuance of common stock to settle certain convertible notes		$ 269,688

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PERSENTATION	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 1 - DESCRIPTION OF BUSINESS AND BASIS OF PERSENTATION	Organization and nature of business PetroGas Company (Formerly America Resources Exploration Inc. (the “Company”)), was incorporated in the State of Nevada on January 24, 2014. The Company was incorporated under the name Alazzio Entertainment Corp. and changed its name to America Resources Exploration Inc. on April 17, 2015. Subsequently, on January 20, 2016, the Company changed its name to PetroGas Company. On June 12, 2015, the Company completed an acquisition of working interests in certain oil & gas properties. All share amounts in these financial statements have been adjusted to reflect this stock split.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 2 - GOING CONCERN	The Company had no significant revenues from the inception through March 31, 2019. As of March 31, 2019, the Company has an accumulated deficit of $1,670,763. We will need additional working capital to service debt and for ongoing operations, which raises substantial doubt about its ability to continue as a going concern. Management of the Company has developed a strategy to meet operational shortfalls which may include equity funding, short term or long term financing or debt financing, to enable the Company to reach profitable operations. The accompanying financial statements do not include any adjustments that might be necessary should we be unable to continue as a going concern. If we fail to generate positive cash flow or obtain additional financing, when required, we may have to modify, delay, or abandon some or all of our business and expansion plans.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation of Interim Financial Statements The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Because a precise determination of many assets and liabilities is dependent upon future events, the preparation of financial statements for a period necessarily involves the use of estimates, which have been made using careful judgment. Actual results may vary from these estimates. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the 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. Actual results could differ from those estimates. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported in earnings in the period in which they become known. The estimates on depreciation were based on the estimated useful lives of the Company’s assets. Any estimates during the period have had an immaterial effect on earnings. Cash and Cash Equivalents Cash and cash equivalents consist of commercial accounts and interest-bearing bank deposits and are carried at cost, which approximates current value. Items are considered to be cash equivalents if the original maturity is three months or less. Oil and Gas Properties – Full Cost Method The Company follows the full cost accounting method to account for oil and natural gas properties, whereby costs incurred in the acquisition, exploration and development of oil and gas reserves are capitalized. Such costs include lease acquisition, geological and geophysical activities, rentals on nonproducing leases, drilling, completing and equipping of oil and gas wells and administrative costs directly attributable to those activities and asset retirement costs. Disposition of oil and gas properties are accounted for as a reduction of capitalized costs, with no gain or loss recognized unless such adjustment would significantly alter the relationship between capital costs and proved reserves of oil and gas, in which case the gain or loss is recognized to operations. The capitalized costs of oil and gas properties, excluding unevaluated and unproved properties, are amortized as depreciation, depletion and amortization expense using the units-of-production method based on estimated proved recoverable oil and gas reserves. The costs associated with unevaluated and unproved properties, initially excluded from the amortization base, relate to unproved leasehold acreage, wells and production facilities in progress and wells pending determination of the existence of proved reserves, together with capitalized interest costs for these projects. Unproved leasehold costs are transferred to the amortization base with the costs of drilling the related well once a determination of the existence of proved reserves has been made or upon impairment of a lease. Costs associated with wells in progress and completed wells that have yet to be evaluated are transferred to the amortization base once a determination is made whether or not proved reserves can be assigned to the property. Costs of dry wells are transferred to the amortization base immediately upon determination that the well is unsuccessful. All items classified as unproved property are assessed on a quarterly basis for possible impairment or reduction in value. Properties are assessed on an individual basis or as a group if properties are individually insignificant. The assessment includes consideration of various factors, including, but not limited to, the following: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; assignment of proved reserves; and economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and become subject to amortization. Under full cost accounting rules for each cost center, capitalized costs of evaluated oil and gas properties, including asset retirement costs, less accumulated amortization and related deferred income taxes, may not exceed an amount (the “cost ceiling”) equal to the sum of (a) the present value of future net cash flows from estimated production of proved oil and gas reserves, based on current prices and operating conditions, discounted at ten percent (10%), plus (b) the cost of properties not being amortized, plus (c) the lower of cost or estimated fair value of any unproved properties included in the costs being amortized, less (d) any income tax effects related to differences between the book and tax basis of the properties involved. If capitalized costs exceed this limit, the excess is charged to operations. For purposes of the ceiling test calculation, current prices are defined as the unweighted arithmetic average of the first day of the month price for each month within the 12-month period prior to the end of the reporting period. Prices are adjusted for basis or location differentials. Unless sales contracts specify otherwise, prices are held constant for the productive life of each well. Similarly, current costs are assumed to remain constant over the entire calculation period. Revenue Recognition Oil and gas sales result from undivided interests held by the Company in oil and gas properties and royalty revenues. Sales of oil and gas produced from oil and gas operations are recognized when the product is delivered to the purchaser and title transfers to the purchaser. Charges for gathering and transportation are included in production expenses. Revenue from royalties is recognized as they are earned, when collection is reasonably assured. Royalty revenue is recorded in the same period as the sales that generate the royalty payment. Asset Retirement Obligations The Company records a liability for asset retirement obligations (“ARO”) associated with its oil and gas wells when those assets are placed in service. The corresponding cost is capitalized as an asset and included in the carrying amount of oil and gas properties and is depleted over the useful life of the properties. Subsequently, the ARO liability is accreted to its then-present value. Inherent in the fair value calculation of an ARO are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit adjusted discount rates, timing of settlement, and changes in the legal, regulatory, environmental and political environments. To the extent future revisions to these assumptions impact the fair value of the existing ARO liability, a corresponding adjustment is made to the oil and gas property balance. Settlements greater than or less than amounts accrued as ARO are recorded as a gain or loss upon settlement. Fair Value of Financial Instruments The Company measures its financial assets and liabilities in accordance with the requirements of ASC 820, Fair Value Measurements and Disclosures. ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 - Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information, The carrying value of all assets and liabilities approximated their fair values as March 31, 2019 and March 31, 2018, respectively. Stock-Based Compensation The Company follows the guidance included in ASC 718 Compensation-Stock Compensation (“ASC 718”) using the modified prospective transition method. The Company recognizes compensation expense in the financial statements for share-based awards based on the grant date fair value of those awards. Income Taxes The Company accounts for income taxes pursuant to ASC 740, Income Taxes Earnings or Loss Per Share In accordance with ASC Topic 280 – “Earnings Per Share”, the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. The Company regularly reviews and analyses the recent accounting pronouncements.

OIL AND GAS PROPERTIES

OIL AND GAS PROPERTIES	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 4 - OIL AND GAS PROPERTIES	As at March 31, 2019, the Company evaluated the capitalized value of the unproven oil and gas leases and determined to impair the amount in full due to the fact that the Company had no historical cost basis for the leases to perform full-coast ceiling test, and no immediate development plans for the lease land. A total of $29,158 has been expensed as Impairment loss on oil and gas lease during the year ended March 31, 2019. As of March 31, 2019, and March 31, 2018, a total of $0, and $29,158 is recorded as Unproved Property, respectively.

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 5 - ASSET RETIREMENT OBLIGATIONS	The Company has asset retirement obligations for any wells that are permanently removed from service. The primary obligations involve the removal and disposal of surface equipment, plugging and abandoning the wells and site restoration. For the purpose of determining the fair value of ARO incurred during the fiscal year ended March 31, 2016, the Company used the following assumptions. Inflation Rate 3 % Estimated asset life 20 years Credit adjusted risk free interest rate 18 % As at March 31, 2016, the Company determined to fully impair its shut in wells given a lack of production over a period in excess of two years, and the uncertainty in returning the wells to production in the future. As a result, the Company has recorded a long term liability equal to the full value of the ARO. As at March 31, 2019 and March 31, 2018, a total of $83,580 is recorded as asset retirement obligations, respectively

PROMISSORY NOTE

PROMISSORY NOTE	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 6 - PROMISSORY NOTE	On December 31, 2016, the Company entered into a promissory note with a majority shareholder, Rise Fast Limited, for an amount of $240,683. The promissory note bears interest at a rate of 2% per annum, and is payable on December 31, 2019. On July 10, 2017, the Company, along with the holder of the promissory note to assigned $174,000 of the promissory note to four individuals not related to the Company. Refer to Note 7 for further details. On October 6, 2017, the Company issued 24,000,000 common shares to the holder of the promissory note for the assignment of the notes of $24,000. As of March 31, 2019, the promissory note payable was $42,683 and accrued interest payable was $4,106.

CONVERTIBLE PROMISSORY NOTES

CONVERTIBLE PROMISSORY NOTES	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 7 - CONVERTIBLE PROMISSORY NOTES	On July 10, 2017, a total of $174,000 was assigned from a promissory note to four individuals not related to the Company. Each of the convertible promissory notes has a principal value of $43,500, maturity date of July 10, 2019, bears interest at 4% per annum, and are convertible at a rate of $0.03 per share. On October 6, 2017, the four convertible promissory notes were amended to an interest rate of 0.5% per annum, the maturity date was amended to July 10, 2020, and the conversion price was amended to $0.01 per share. On October 11, 2017, four individual holders that have $174,000 of convertible promissory notes, converted a total of $58,000, or $14,500 each, for a total of 5,800,000, or 1,450,000 common shares each. A debt discount on the notes was recognized of $174,000. During the year ended March 31, 2019, a total of $34,272 of the debt discount has been amortized and recorded in interest expense. As of March 31, 2019, the unamortized amount of the debt discounts is $43,696. On December 31, 2017, the Company entered into a convertible promissory note for $9,230 with an individual not related to the Company. The convertible promissory note is due on demand, bears interest at 55% per annum, and is convertible at $0.01 per share. The debt discount of $9,230 was expensed upon issuance of the note. On March 12, 2019, the note holder sold to three unaffiliated parties an interest in the note equal to the principal amount of $1,900 each. On March 31, 2018, the Company entered into a convertible promissory note for $20,773 with an individual not related to the Company. The convertible promissory note is due on demand, bears interest at 55% per annum, and is convertible at $0.01 per share. The debt discount of $20,773 was expensed upon issuance of the note. On June 30, 2018, the Company entered into a convertible promissory note for $10,667 with an individual not related to the Company. The convertible promissory note is due on demand, bears interest at 55% per annum, and is convertible at $0.01 per share. The debt discount of $10,667 was expensed upon issuance of the note. On September 30, 2018, the Company entered into a convertible promissory note for $7,167 with an individual not related to the Company. The convertible promissory note is due on demand, bears interest at 55% per annum, and is convertible at $0.01 per share. The debt discount of $7,167 was expensed upon issuance of the note. On December 31, 2018, the Company entered into a convertible promissory note for $2,411 with an individual not related to the Company. The convertible promissory note is due on demand, bears interest at 55% per annum, and is convertible at $0.01 per share. The debt discount of $2,411 was expensed upon issuance of the note. On March 31, 2019, the Company entered into a convertible promissory note for $10,194 with an individual not related to the Company. The convertible promissory note is due on demand, bears interest at 55% per annum, and is convertible at $0.01 per share. The debt discount of $10,194 was expensed upon issuance of the note. As of March 31, 2019, the convertible note payable was $132,746 and accrued interest payable was $23,452.

COMMON STOCK

COMMON STOCK	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 8 - COMMON STOCK	The Company has 300,000,000 authorized common shares at $0.001 par value. Year Ended March 31, 2019 On March 4, 2019, a majority of our shareholders approved a reverse stock split on a basis of 100 old shares for 1 new share of our issued and outstanding common stock. No fractional shares of common stock will be issued as a result of the reverse split. Any fractional shares that would have resulted from the reverse split will be rounded up to the next whole number. As a result of the reverse split, our issued and outstanding shares of common stock will decrease from 30,099,230 to 300,993 shares of common stock. We confirm that our authorized capital will remain unchanged. The reverse split has been reviewed by the Financial Industry Regulatory Authority (FINRA) and has been approved for filing with an effective date of March 19, 2019. Year Ended March 31, 2018 During the year ended March 31, 2018, the Company issued 29,800,000 common shares. On July 26, 2017, the Company performed a 100:1 reverse stock split. All outstanding shares have been adjusted retrospectively. As at March 31, 2019 and March 31, 2018, the Company had a total of 300,993 shares issued and outstanding.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 9 - RELATED PARTY TRANSACTIONS	During the year ended March 31, 2018, the Company received advances totaling $24,156 from its majority shareholder, Rise Fast Limited, in order to fund ongoing operations in the normal course. As at March 31, 2019 and March 31, 2018, the Company had advances from related party of $28,541 and $28,541, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 10 - INCOME TAXES	The Company uses the liability method, whereby deferred taxes and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes. The net deferred tax asset generated by the loss carryforward has been fully reserved. The cumulative net operating loss carry-forward is approximately $1,670,763 at March 31, 2019, and will expire in the years 2036 through 2039. On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act (the “Act”) resulting in significant modifications to existing law. The Company has completed the accounting for the effects of the Act during the year ended March 31, 2019. The Company’s financial statements for the year ended March 31, 2019 reflect certain effects of the Act which includes a reduction in the corporate tax rate from 34% to 21% as well as other changes. The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of March 31, 2019 and March 31, 2018 are as follows: March 31, March 31, 2019 2018 Net operating loss carryforward $ 1,670,763 $ 1,513,590 Effective tax rate 21 % 21 % Deferred tax asset 350,860 317,854 Less: Valuation allowance (350,860 ) (317,854 ) Net deferred asset $ - $ - The utilization of the carryforwards is dependent upon the Company’s ability to generate sufficient taxable income during the carryforward period. In addition, utilization of these carryforwards may be limited due to ownership changes as defined in the Internal Revenue Code.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 11 - SUBSEQUENT EVENTS	Management has evaluated subsequent events through the date these financial statements were available to be issued. Based on our evaluation, the Company had the following subsequent events: On April 3, 2019, the Company issued 3,000,000 shares of common stock to the President of the Company as compensation for management services valued at $0.03 per share. On April 30, 2019, principal amount of $5,700 of the convertible notes was converted to 570,000 shares of common stock. On May 31, 2019, the Company issued a promissory note to a legal firm at principal amount of $6,692.45 for the payable amount to the vendor. The note has a three month term and bears interest at 2% per annum compounded monthly.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2019
Summary Of Significant Accounting Policies
Basis of Presentation of Interim Financial Statements	The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Because a precise determination of many assets and liabilities is dependent upon future events, the preparation of financial statements for a period necessarily involves the use of estimates, which have been made using careful judgment. Actual results may vary from these estimates.
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the 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. Actual results could differ from those estimates. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported in earnings in the period in which they become known. The estimates on depreciation were based on the estimated useful lives of the Company’s assets. Any estimates during the period have had an immaterial effect on earnings.
Cash and Cash Equivalents	Cash and cash equivalents consist of commercial accounts and interest-bearing bank deposits and are carried at cost, which approximates current value. Items are considered to be cash equivalents if the original maturity is three months or less.
Oil and Gas Properties - Full Cost Method	The Company follows the full cost accounting method to account for oil and natural gas properties, whereby costs incurred in the acquisition, exploration and development of oil and gas reserves are capitalized. Such costs include lease acquisition, geological and geophysical activities, rentals on nonproducing leases, drilling, completing and equipping of oil and gas wells and administrative costs directly attributable to those activities and asset retirement costs. Disposition of oil and gas properties are accounted for as a reduction of capitalized costs, with no gain or loss recognized unless such adjustment would significantly alter the relationship between capital costs and proved reserves of oil and gas, in which case the gain or loss is recognized to operations. The capitalized costs of oil and gas properties, excluding unevaluated and unproved properties, are amortized as depreciation, depletion and amortization expense using the units-of-production method based on estimated proved recoverable oil and gas reserves. The costs associated with unevaluated and unproved properties, initially excluded from the amortization base, relate to unproved leasehold acreage, wells and production facilities in progress and wells pending determination of the existence of proved reserves, together with capitalized interest costs for these projects. Unproved leasehold costs are transferred to the amortization base with the costs of drilling the related well once a determination of the existence of proved reserves has been made or upon impairment of a lease. Costs associated with wells in progress and completed wells that have yet to be evaluated are transferred to the amortization base once a determination is made whether or not proved reserves can be assigned to the property. Costs of dry wells are transferred to the amortization base immediately upon determination that the well is unsuccessful. All items classified as unproved property are assessed on a quarterly basis for possible impairment or reduction in value. Properties are assessed on an individual basis or as a group if properties are individually insignificant. The assessment includes consideration of various factors, including, but not limited to, the following: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; assignment of proved reserves; and economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and become subject to amortization. Under full cost accounting rules for each cost center, capitalized costs of evaluated oil and gas properties, including asset retirement costs, less accumulated amortization and related deferred income taxes, may not exceed an amount (the “cost ceiling”) equal to the sum of (a) the present value of future net cash flows from estimated production of proved oil and gas reserves, based on current prices and operating conditions, discounted at ten percent (10%), plus (b) the cost of properties not being amortized, plus (c) the lower of cost or estimated fair value of any unproved properties included in the costs being amortized, less (d) any income tax effects related to differences between the book and tax basis of the properties involved. If capitalized costs exceed this limit, the excess is charged to operations. For purposes of the ceiling test calculation, current prices are defined as the unweighted arithmetic average of the first day of the month price for each month within the 12-month period prior to the end of the reporting period. Prices are adjusted for basis or location differentials. Unless sales contracts specify otherwise, prices are held constant for the productive life of each well. Similarly, current costs are assumed to remain constant over the entire calculation period.
Revenue Recognition	Oil and gas sales result from undivided interests held by the Company in oil and gas properties and royalty revenues. Sales of oil and gas produced from oil and gas operations are recognized when the product is delivered to the purchaser and title transfers to the purchaser. Charges for gathering and transportation are included in production expenses. Revenue from royalties is recognized as they are earned, when collection is reasonably assured. Royalty revenue is recorded in the same period as the sales that generate the royalty payment.
Asset Retirement Obligations	The Company records a liability for asset retirement obligations (“ARO”) associated with its oil and gas wells when those assets are placed in service. The corresponding cost is capitalized as an asset and included in the carrying amount of oil and gas properties and is depleted over the useful life of the properties. Subsequently, the ARO liability is accreted to its then-present value. Inherent in the fair value calculation of an ARO are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit adjusted discount rates, timing of settlement, and changes in the legal, regulatory, environmental and political environments. To the extent future revisions to these assumptions impact the fair value of the existing ARO liability, a corresponding adjustment is made to the oil and gas property balance. Settlements greater than or less than amounts accrued as ARO are recorded as a gain or loss upon settlement.
Fair Value of Financial Instruments	The Company measures its financial assets and liabilities in accordance with the requirements of ASC 820, Fair Value Measurements and Disclosures. ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 - Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information, The carrying value of all assets and liabilities approximated their fair values as March 31, 2019 and March 31, 2018, respectively.
Stock-Based Compensation	The Company follows the guidance included in ASC 718 Compensation-Stock Compensation (“ASC 718”) using the modified prospective transition method. The Company recognizes compensation expense in the financial statements for share-based awards based on the grant date fair value of those awards.
Income Taxes	The Company accounts for income taxes pursuant to ASC 740, Income Taxes
Earnings or Loss Per Share	In accordance with ASC Topic 280 – “Earnings Per Share”, the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.
Recent Accounting Pronouncements	The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. The Company regularly reviews and analyses the recent accounting pronouncements.

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	12 Months Ended
	Mar. 31, 2019
Asset Retirement Obligations Tables Abstract
Schedule of assumptions of determining the fair value of ARO	For the purpose of determining the fair value of ARO incurred during the fiscal year ended March 31, 2016, the Company used the following assumptions. Inflation Rate 3 % Estimated asset life 20 years Credit adjusted risk free interest rate 18 %

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2019
Income Taxes Tables Abstract
Schedule of deferred tax assets and liabilities	The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of March 31, 2019 and March 31, 2018 are as follows: March 31, March 31, 2019 2018 Net operating loss carryforward $ 1,670,763 $ 1,513,590 Effective tax rate 21 % 21 % Deferred tax asset 350,860 317,854 Less: Valuation allowance (350,860 ) (317,854 ) Net deferred asset $ - $ -

DESCRIPTION OF BUSINESS AND B_2

DESCRIPTION OF BUSINESS AND BASIS OF PERSENTATION (Details Narrative)	12 Months Ended
	Mar. 31, 2019
Description Of Business And Basis Of Persentation
State or Country of Incorporation	Nevada
Date of incorporation	Jan. 24, 2014

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Going Concern
Accumulated deficit	$ (1,670,763)	$ (1,513,590)

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Mar. 31, 2019
Summary Of Significant Accounting Policies Details Narrative Abstract
Description of oil and gas properties under full cost method	the sum of (a) the present value of future net cash flows from estimated production of proved oil and gas reserves, based on current prices and operating conditions, discounted at ten percent (10%), plus (b) the cost of properties not being amortized, plus (c) the lower of cost or estimated fair value of any unproved properties included in the costs being amortized, less (d) any income tax effects related to differences between the book and tax basis of the properties involved.

OIL AND GAS PROPERTIES (Details

OIL AND GAS PROPERTIES (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Oil And Gas Properties
Impairment loss on oil and gas lease	$ 29,158
Unproved Property		$ 29,158

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details)	12 Months Ended
	Mar. 31, 2019
Convertible Promissory Notes [Text Block]
Inflation Rate	3.00%
Estimated asset life	20 years
Credit adjusted risk free interest rate	18.00%

ASSET RETIREMENT OBLIGATIONS _2

ASSET RETIREMENT OBLIGATIONS (Details Narrative) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Asset Retirement Obligations Details Narrative Abstract
Asset retirement obligations	$ 83,580	$ 83,580

PROMISSORY NOTE (Details Narrat

PROMISSORY NOTE (Details Narrative)	Oct. 06, 2017USD ($)shares	Jul. 10, 2017USD ($)Individual	Dec. 31, 2016USD ($)	Mar. 31, 2018USD ($)shares	Mar. 31, 2019USD ($)
Debt Instrument [Line Items]
Number of common stock shares issued to promissory note holder | shares				29,800,000
Accrued interest				$ 8,238	$ 32,544
Majority shareholder [Member]
Debt Instrument [Line Items]
Debt amount			$ 240,683
Interest rate			2.00%
Debt maturity date			Dec. 31, 2019
Promissory Note [Member]
Debt Instrument [Line Items]
Debt amount		$ 174,000			42,683
Number of individuals | Individual		4
Number of common stock shares issued to promissory note holder | shares	24,000,000
Accrued interest					$ 4,106
Common stock shares issued for assignment of notes, amount	$ 24,000

CONVERTIBLE PROMISSORY NOTES (D

CONVERTIBLE PROMISSORY NOTES (Details Narrative)	Oct. 11, 2017USD ($)Individualshares	Oct. 06, 2017Individual$ / shares	Jul. 10, 2017USD ($)Individual$ / shares	Mar. 31, 2019USD ($)$ / shares	Mar. 31, 2018USD ($)$ / shares	Mar. 12, 2019USD ($)	Dec. 31, 2018USD ($)$ / shares	Sep. 30, 2018USD ($)$ / shares	Jun. 30, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares
Debt Instrument [Line Items]
Debt discount				$ 43,696	$ 77,968
Debt discount amortized				64,711	109,720
Accrued interest				32,544	8,238
Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Debt amount				132,746
Accrued interest				23,452
Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Debt amount										$ 9,230
Number of individuals | Individual			4
Interest rate										55.00%
Conversion price | $ / shares										$ 0.01
Debt discount										$ 9,230
Convertible Promissory Notes [Member] | Three Unaffiliated Parties [Member]
Debt Instrument [Line Items]
Debt principal amount						$ 1,900
Convertible Promissory Notes [Member] | An Individuals [Member]
Debt Instrument [Line Items]
Debt amount				$ 10,194	$ 20,773		$ 2,411	$ 7,167	$ 10,667
Interest rate				55.00%	55.00%		55.00%	55.00%	55.00%
Conversion price | $ / shares				$ 0.01	$ 0.01		$ 0.01	$ 0.01	$ 0.01
Debt discount				$ 10,194	$ 20,773		$ 2,411	$ 7,167	$ 10,667
Convertible Promissory Notes [Member] | Four Individuals [Member]
Debt Instrument [Line Items]
Debt amount	$ 174,000		$ 174,000
Number of individuals | Individual	4	4
Interest rate		0.50%	4.00%
Debt maturity date		Jul. 10, 2020	Jul. 10, 2019
Conversion price | $ / shares		$ 0.01	$ 0.03
Debt discount	$ 174,000			43,696
Debt discount amortized				$ 34,272
Amount of convertible promissory notes, converted	$ 58,000
Debt conversion converted instrument, shares issued | shares	5,800,000
Convertible Promissory Notes [Member] | Each Individual [Member]
Debt Instrument [Line Items]
Debt amount			$ 43,500
Amount of convertible promissory notes, converted	$ 14,500
Debt conversion converted instrument, shares issued | shares	1,450,000

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - $ / shares	Mar. 04, 2019	Jul. 26, 2017	Mar. 31, 2018	Mar. 31, 2019
Stock issued during period, shares			29,800,000
Value of reverse stock split		100:1
Common stock, shares issued			300,993	300,993
Common stock, shares outstanding			300,993	300,993
Common stock, shares authorized			300,000,000	300,000,000
Common stock, par value (in dollars per share)			$ 0.001	$ 0.001
Common stock shares issued and outstanding decrease			Decrease from 30,099,230 to 300,993 shares
Majority shareholder [Member]
Value of reverse stock split	100 old shares for 1 new share

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Related Party Transaction [Line Items]
Advances received		$ 24,156
Advances from related party	$ 28,541	28,541
Majority shareholder [Member]
Related Party Transaction [Line Items]
Advances received		$ 24,156

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Taxes Details Abstract
Net operating loss carryforward	$ 1,670,763	$ 1,513,590
Effective tax rate	21.00%	21.00%
Deferred tax asset	$ 350,860	$ 317,854
Less: Valuation allowance	(350,860)	(317,854)
Net deferred asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Taxes Details Narrative Abstract
Net operating loss carry-forward	$ 1,670,763	$ 1,513,590
Net operating losses expiration period, description	expire in the years 2036 through 2039.

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Apr. 03, 2019	Apr. 30, 2019	May 31, 2019	Dec. 31, 2017
Convertible Promissory Notes [Member]
Interest rate				55.00%
Subsequent Event [Member] | Convertible Notes Payable [Member]
Debt conversion converted shares issued, Shares		570,000
Debt conversion converted shares issued, Amount		$ 5,700
Subsequent Event [Member] | Convertible Promissory Notes [Member]
Debt principal amount			$ 6,692
Interest rate			2.00%
Subsequent Event [Member] | President [Member]
Stock issued during period shares for services, Shares	3,000,000
Stock issued during period shares for services, per share	$ 0.03