KonaTel (KTEL) 10-Q 17 Feb 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Dec. 31, 2014	Feb. 13, 2015
Document And Entity Information
Entity Registrant Name	DALA PETROLEUM CORP.
Entity Central Index Key	845819
Document Type	10-Q
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-21
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		12,524,286
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheet (Unaudited) (USD $)	Dec. 31, 2014	Sep. 30, 2014
Current Assets
Cash and cash equivalents	$610,446	$1,182,024
Receivables	5,782	1,782
Prepaid	25,578	34,104
Total current assets	641,806	1,217,910
Oil and natural gas properties, at cost, using the full cost method of accounting, unproved	1,996,081	1,898,947
TOTAL ASSETS	2,637,887	3,116,857
Current Liabilities
Accounts payable	174,536	55,208
Due to related parties	0	11,292
Registration rights liability	18,225	18,225
Total current liabilities	192,761	84,725
Derivative liabilities	2,468,494	2,819,739
Total liabilities	2,661,255	2,904,464
Commitments and contingencies
Series A preferred convertible stock	1,302,925	1,313,956
Stockholders' Equity
Common Stock	12,524	12,500
Additional paid-in capital	1,689,502	1,637,509
Accumulated deficit	-3,028,319	-2,751,572
Total stockholders' equity	-1,326,293	-1,101,563
TOTAL LIABILITIES AND EQUITY	$2,637,887	$3,116,857

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheet (Parenthetical) (USD $)	Dec. 31, 2014	Sep. 30, 2014
Statement of Financial Position [Abstract]
Series A preferred convertible stock, par value per share in dollars	$0.01	$0.01
Series A preferred convertible stock, shares authorized	50,000,000	50,000,000
Series A preferred convertible stock, shares issued	2,008	2,025
Series A preferred convertible stock, shares outstanding	2,008	2,025
Series A preferred convertible stock, dividend rate	6.00%	6.00%
Common stock, par value in dollars	$0.00	$0.00
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	12,524,286	12,500,000
Common stock, shares outstanding	12,524,286	12,500,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statement of Operation (Unaudited) (USD $)	3 Months Ended
	Dec. 31, 2014
Income Statement [Abstract]
Revenues	$0
Operating expenses:
General and administrative	237,677
Impairment of oil and natural gas properties	261,336
Total costs and expenses	499,013
Net loss from operations	-499,013
Non-operating expenses:
Gain on derivative valuation	343,520
Registration rights payment	-91,133
Total non-operating income	252,387
Net loss	-246,626
Dividends on preferred stock	-30,121
Net loss attributable to common stock	($276,747)
Basic and diluted loss per share	($0.02)
Weighted average number of shares outstanding, basic and diluted	12,511,879

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Cash Flow (Unaudited) (USD $)	3 Months Ended
	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	($246,626)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment of oil and natural gas properties	261,336
Gain changes in fair value of derivatives	-343,520
Amortization of prepaid assets	8,526
Stock-based compensation	33,261
Changes in operating assets and liabilities:
Accounts payable	1,721
Due to related parties	-11,292
NET CASH USED IN OPERATIONS	-296,594
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for oil and gas properties	-244,863
CASH USED IN INVESTING ACTIVITIES	-244,863
CASH FLOWS FROM FINANCING ACTIVITIES
Payment of dividends on preferred stock	-30,121
CASH USED FOR FINANCING ACTIVITIES	-30,121
NET CHANGE IN CASH AND CASH EQUIVALENTS	-571,578
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	1,182,024
CASH AND CASH EQUIVALENTS AT END OF PERIOD	610,446
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes	0
Interest	0
NONCASH INVESTING AND FINANCING ACTIVITIES
Common shares issued upon conversion of preferred stock	18,756
Investments in Oil and Gas Properties included in accounts payable	$117,607

Organization

Organization	3 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	NOTE 1 – ORGANIZATION
	Dala Petroleum Corp. (the “Company” or “Dala”), formerly known as “Westcott Products Corporation”, was incorporated as “Light Tech, Inc.” under the laws of the State of Nevada on May 24, 1984. A subsidiary in the name “Westcott Products Corporation” was organized by us under the laws of the State of Delaware on June 24, 1986, for the purpose of changing our name and domicile to the State of Delaware. On June 27, 1986, we merged with the Delaware subsidiary, with the survivor being Westcott Products Corporation, a Delaware corporation.

Merger

Merger	3 Months Ended
	Dec. 31, 2014
Business Combinations [Abstract]
Merger	NOTE 2 – MERGER
	On June 2, 2014, the Company, its newly formed and wholly-owned subsidiary, Dala Acquisition Corp., a Nevada corporation (“Merger Subsidiary”), and Dala Petroleum Corp., a Nevada corporation (“Dala”), executed and delivered an Agreement and Plan of Merger (the “Merger Agreement”), whereby Merger Subsidiary merged with and into Dala, and Dala was the surviving company under the merger and became a wholly-owned subsidiary of Westcott (the “Merger”) on the closing of the Merger.
	Effective June 2, 2014, the respective Boards of Directors of Westcott and Dala, along with Westcott, as the sole stockholder of Merger Subsidiary, and Dala’s sole stockholder Chisholm Partners II, LLC, a Louisiana limited liability company (“Chisholm II”) owning 100% of the outstanding voting securities of Dala approved the Merger by written consent, and the Articles of Merger were filed with the Secretary of State of the State of Nevada on such date, which was the effective date of the Merger. Accordingly, Westcott issued 10,000,000 shares of its common stock in exchange for all of the outstanding shares of common stock of Dala, which was distributed to Dala Petroleum’s sole shareholder and was then distributed on a pro rata basis to its members.
	Immediately after the Merger, there were 12,500,000 outstanding shares of Westcott common stock, with pre-Merger Westcott stockholders owning 2,500,000 of these shares or approximately 20% of the outstanding voting securities of Westcott; and the members of Dala’s sole stockholder owning approximately 10,000,000 of these shares or approximately 80% of these outstanding voting securities of Westcott.
	Several conditions precedent as set forth in the Merger Agreement were completed prior to the Merger. One critical condition precedent set forth in the Merger Agreement was that Westcott would raise no less than $2,000,000 (the minimum offering) from persons who are “accredited investors” in consideration of the issuance (or the conversion) of a minimum of 2,000 shares up to a maximum of 2,500 shares of its Series A 6% Convertible Preferred Stock at the offering price of $1,000 per unit.
	On June 3, 2014, the Company sold 2,025 units in the offering. Each unit consisted of one share of Series A 6% Convertible Preferred Stock that is convertible at any time at the option of the Holder into common stock at the conversion price of $0.70 per common share based on the total dollar amount invested and 1,429 warrants to purchase common shares of the Company at an exercise price of $1.35 with a life of three years as of the “Effective Date, ” defined as the earliest date of the following to occur: (a) the initial registration statement required by the Offering Documents has been declared effective by the United States Securities and Exchange Commission (the “SEC”), (b) all of the underlying shares have been sold pursuant to SEC Rule 144 or may be sold pursuant to SEC Rule 144 without the requirement for the Company to be in compliance with the current public information required under SEC Rule 144 and without volume or manner-of-sale restrictions or (c) following the one year anniversary of June 3, 2014.
	Dala possesses rights to engage in oil and natural gas exploration and development on approximately 300 leases in north central Kansas, with total acreage of approximately 80,000 acres (the “Property”). Dala is operating as an early-stage oil exploration company focused on the Property, which has oil potential at depths of less than 6,000 feet. With the Merger, the Company now has these rights.
	Prior to the Merger, Westcott was considered a shell company, as defined in SEC Rule 12b-2. Therefore, for financial reporting purposes, the Merger is being accounted for as a reverse-merger and recapitalization of Dala.

Basis_of_Presentation_and_Summ

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	NOTE 3 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	The accompanying financial statements have been prepared without audit, pursuant to the rules and regulations of the SEC, in accordance with accounting principles generally accepted in the United States of America. The interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which, in the opinion of management, are necessary to present a fair statement of the results for the period.
	As discussed above in Note 2, the Company merged with Dala Petroleum Corp., a Nevada corporation (“Dala”) on June 2, 2014 (the “Merger”). Dala is focused on the acquisition and development of oil and natural gas resources in the United States. Prior to the Merger, Westcott was considered a shell company, as defined in SEC Rule 12b-2. For financial reporting purposes, the Merger represents a “reverse merger” rather than a business combination. Consequently, the assets and liabilities and the operations that are reflected in the historical financial statements are those of Dala immediately following the consummation of the reverse merger.
	As Dala’s date of Inception was January 17, 2014 (“Inception”), the Condensed Consolidated Balance Sheet as of September 30, 2014 includes the activity for Dala since that date and the activity of Westcott since June 2, 2014. Financial statements are not presented for comparative purposes for the Condensed Consolidated Statements of Operations and Condensed Consolidated Statement of Cash Flow, as Dala was not in existence in the comparative prior year period. All share and per-share amounts in these financial statements have been recast to reflect the continuing entity common stock.
	Use of Estimates
	The timely preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ significantly from those estimates.
	Fair Value of Financial Instruments
	Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:
	Level 1 – Unadjusted quoted prices in active markets that are accessible at measurement date for identical assets or liabilities.
	Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
	Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities and less observable from objective sources.
	Oil and Natural Gas Properties
	The Company follows the full cost method of accounting for oil and natural gas operations whereby all costs related to the exploration and development of oil and natural gas properties are initially capitalized into a single cost center (“full cost pool”). Such costs include land acquisition costs, a portion of employee salaries related to property development, seismic costs, geological and geophysical expenses, carrying charges on non-producing properties, costs of drilling directly related to acquisition, and exploration activities. Internal salaries are capitalized based on employee time allocated to the acquisition of leaseholds and development of oil and natural gas properties. The Company did not capitalize interest for the period ended December 31, 2014.
	Proceeds from property sales will generally be credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves attributable to these costs. During the three months ended December 31, 2014, the Company sold one leased property for $4,000, for which no gain or loss was recognized.
	The Company assesses all items classified as unproved property on a quarterly basis for possible impairment or reduction in value. The assessment includes consideration of the following factors, among others: intent to drill, remaining lease term, geological and geophysical evaluations, drilling results and activity, the assignment of proved reserves, and the 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 are then subject to depletion and amortization. The costs of drilling exploratory dry holes are included in the amortization base immediately upon determination that the well is dry.
	Capitalized costs associated with impaired properties and properties having proved reserves, estimated future development costs, and asset retirement costs under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 410-20-25 are depleted and amortized on the unit-of-production method based on the estimated gross proved reserves. The costs of unproved properties are withheld from the depletion base until such time as they are developed, impaired, or abandoned.
	Under the full cost method of accounting, capitalized oil and natural gas property costs less accumulated depletion, net of deferred income taxes, may not exceed a ceiling amount equal to the present value, discounted at 10%, of estimated future net revenues from proved oil and natural gas reserves plus the cost of unproved properties not subject to amortization (without regard to estimates of fair value), or estimated fair value, if lower, of unproved properties that are subject to amortization. Should capitalized costs exceed this ceiling, which is tested on a quarterly basis, an impairment is recognized. The present value of estimated future net revenues is computed by applying prices based on a 12-month unweighted average of the oil and natural gas prices in effect on the first day of each month, less estimated future expenditures to be incurred in developing and producing the proved reserves (assuming the continuation of existing economic conditions), less any applicable future taxes.
	During the three months ended December 31, 2014, the Company incurred $101,134 related to G&G cost directly related to the properties owned and added to our cost pool for the period of unproved oil and gas properties. During the three months ended December 31, 2014, the Company incurred $362,470 in oil and natural gas expenditures, which is comprised of approximately $75,472 in professional consulting fees, $63,297 in costs related to due diligence on prospective properties which as of the end of the quarterly period have yet to be acquired and $122,567 in dry hole cost related to exploration efforts directly related to our leased properties.  The $75,472 and $63,297 in expenses were properly capitalized, however, were subsequently impaired as the costs could not be directly associated with any specific unevaluated properties owned.  Under the full cost method of accounting, if G&G costs cannot be directly associated with specific unevaluated properties owned, they shall be included in the amortization base as incurred. Additionally, the cost associated with the dry holes were also impaired and written off during the current period. As the Company has no proved reserves as of December 31, 2014, any balance in the amortization base is effectively impaired under the ceiling test. These costs were classified as impaired as of December 31, 2014 and are included within operating expenses in the statement of operations.
	As of December 31, 2014, the Company’s oil and natural gas properties of $1,996,081 were all classified as unproved.
	Revenue Recognition
	The Company recognizes oil and natural gas revenues from our interests in producing wells when production is delivered to, and title has transferred to, the purchaser and to the extent the selling price is reasonably determinable.
	The Company uses the sales method of accounting for balancing of natural gas production and would recognize a liability if the existing proven reserves were not adequate to cover the current imbalance situation. As of the three months ending December 31, 2014, no revenue has been recognized as all wells are still unproved and non-producing.
	Asset Retirement Obligation
	Asset retirement obligation (“ARO”) reflects the estimated present value of the amount of dismantlement, removal, site reclamation and similar activities associated with the Company's oil and natural gas properties. Inherent in the fair value calculation of the 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. As of December 31, 2014, the Company had no ARO liability as no wells have been established.
	Stock-based Compensation
	The Company records stock based compensation in accordance with the guidance in ASC 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This requires that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award.
	The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with ASC 718-10 and the conclusions reached by the ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by ASC 505-50.
	Income Taxes
	The Company follows ASC Topic 740 for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change.
	Deferred income taxes may arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. Deferred taxes are classified as current or non-current, depending on the classification of assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse.
	The Company applies a more-likely-than-not recognition threshold for all tax uncertainties. ASC Topic 740 only allows the recognition of those tax benefits that have a greater than fifty percent likelihood of being sustained upon examination by the taxing authorities. As of December 31, 2014, the Company reviewed its tax positions and determined there were no outstanding, or retroactive tax positions with less than a 50% likelihood of being sustained upon examination by the taxing authorities, therefore this standard has not had a material effect on the Company.
	Loss per Share
	The Company follows ASC Topic 260 to account for the loss per share. Basic loss per common share calculations are determined by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted loss per common share calculations are determined by dividing net loss by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation. As the Company has incurred losses for the period ended December 31, 2014, the potentially dilutive shares totaling 6,362,296 are anti-dilutive and are thus not added into the loss per share calculations.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
	Dec. 31, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	NOTE 4 – RECENT ACCOUNTING PRONOUNCEMENTS
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU No. 2014-09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for annual reporting periods beginning after December 15, 2016. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.
	In June 2014, the FASB issued Accounting Standards Update No. 2014-10 (“ASU No. 2014-10”), which eliminated the definition of a Development Stage Entity and the related reporting requirements. ASU No. 2014-10 is effective for annual reporting periods beginning after December 15, 2014, with early adoption allowed. The Company chose to adopt ASU No. 2014-10 early, effective in its financial statements for the year ended September 30, 2014.
	In August 2014, the FASB issued Accounting Standards Update No. 2014-15, (“ASU No. 2014-15”). The guidance requires management to perform an evaluation each annual and interim reporting period of whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within the one year period after the date that the financial statements are issued. If such conditions are identified, the guidance requires an entity to provide certain disclosures about the principal conditions or events that gave rise to the substantial doubt about the entity’s ability to continue as a going concern, management’s evaluation of the significance of those conditions or events in relation to the entity’s ability to meet its obligations and management’s plans to alleviate or mitigate substantial doubt about the entity’s ability to continue as a going concern. The guidance is effective for the first annual period ending after December 15, 2016 and interim periods thereafter. The Company currently does not expect the adoption of ASU No. 2014-15 to have a material impact on its financial statements and does not anticipate early adoption of this pronouncement.
	In November 2014, the FASB issued Accounting Standards Update No. 2014-16, (“ASU No. 2014-16”). This update amends existing guidance with the objective to eliminate the use of different methods in practice with respect to the consideration of redemption features in relation to other features when determining whether the nature of a host contract is more akin to debt or equity and thereby reduce existing diversity under GAAP in accounting for hybrid financial instruments issued in the form of a share. The amendments clarify how current GAAP should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. The amendments clarify that no single term or feature would necessarily determine the economic characteristics and risks of a host contract, but rather, the nature of the host contract depends upon the economic characteristics and risks of the entire hybrid financial instrument. In addition, the amendments in this update clarify that, in evaluating the nature of a host contract, an entity should assess the substance of the relevant terms and features when considering how to weight those terms and features. The guidance applies to all entities that are issuers of, or investor in, hybrid instruments that are issued in the form of a share. The effects of initially adopting the amendments in this update should be applied on a modified retrospective basis to existing hybrid financial instruments issued in the form of a share as of the beginning of the fiscal year for which the amendments are effective. Retrospective application is permitted to all relevant prior periods. The updates in this pronouncement are effective for public entities for fiscal years, and interim periods within those years, beginning after December 15, 2015. The Company is currently evaluating the adoption of ASU No. 2014-16 and the impact of the updates upon the Company. The Company plans on adopting the pronouncement for periods beginning after December 15, 2015 and does not anticipate early adoption of this pronouncement.
	In January 2015, the FASB issued Accounting Standards Update No. 2015-01, (“ASU No. 2015-01”). This update eliminates from GAAP the concept of extraordinary items, reduces complexity in accounting standards and alleviates uncertainty for preparers, auditors, and regulators by eliminating the need to evaluate the appropriate treatment of an unusual and/or infrequent item. The presentation and disclosure guidance for items that are unusual in nature and occur infrequently is retained and is expanded upon within this guidance to include items that are both unusual in nature and infrequent. Retrospective application is permitted to all relevant prior periods. The amendments in this update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. The Company is currently evaluating the adoption of ASU No. 2015-01 and the impact of the updates upon the Company. The Company plans on adopting the pronouncement for periods beginning after December 15, 2015 and does not anticipate early adoption of this pronouncement.
	The company has evaluated all other recent accounting pronouncements and believes that none of them will have a significant effect on the company’s financial statement.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 5 – RELATED PARTY TRANSACTIONS
	On June 2, 2014, the Company issued 10,000,000 shares of its common stock to Chisholm II, Dala’s sole stockholder prior to the Merger, in exchange for oil and natural gas assets. As the leases were transferred to the Company by the sole shareholder of the Company, the leases were recorded based on the historical cost basis of the contributing shareholder of $1,898,947.
	The Company has a service agreement with Chisholm II to use its existing technical exploration team for general and administrative-type services on behalf of the Company. The Company is obligated to pay Chisholm II $25,000 per month plus expenses for these services. For the three months ended December 31, 2014, the Company paid approximately $75,000 for its services.

Preferred_Convertible_Stock_an

Preferred Convertible Stock and Warrants	3 Months Ended
	Dec. 31, 2014
Preferred Convertible Stock And Warrants
Preferred Convertible Stock and Warrants	NOTE 6 – PREFERRED CONVERTIBLE STOCK AND WARRANTS
	As discussed above in Note 2, the Company has sold 2,025 units of Series A 6% Convertible Preferred Stock and related warrants at the price of $1,000 per unit. Proceeds received totaled $1,990,000 (net of offering costs of $35,000). Each unit consisted of one share of Series A 6% Convertible Preferred Stock that is convertible at any time at the option of the holder into common stock at the conversion price of $0.70 per common share based on the total dollar amount invested (subject to adjustment) and 1,429 warrants to purchase common shares of the Company at an exercise price of $1.35 for three years of the “Effective Date, ” defined as the earliest date of the following to occur: (a) the initial registration statement required by the Offering Documents has been declared effective by the United States Securities and Exchange Commission (the “SEC”), (b) all of the underlying shares have been sold pursuant to SEC Rule 144 or may be sold pursuant to SEC Rule 144 without the requirement for the Company to be in compliance with the current public information required under SEC Rule 144 and without volume or manner-of-sale restrictions or (c) following the one year anniversary of June 3, 2014. A total of 2,008 warrants, exercisable into 2,868,571 shares of common stock, remain issued and outstanding as of December 31, 2014. The 6% per annum dividends are cumulative and payable quarterly in cash or, at the Company’s option, in shares of the Company’s common stock.
	As the Series A 6% Convertible Preferred Stock is contingently redeemable at a fixed price and such redemption would not be solely within the control of the Company, the preferred stock is classified outside of stockholders’ equity, as “temporary equity” between liabilities and stockholders’ equity on the Company’s condensed consolidated balance sheet.
	On November 17, 2014, one of the Company’s shareholders of Series A 6% Convertible Preferred Stock, Chienn Consulting Company, converted 17 shares of its Series A 6% Convertible Preferred Stock into 24,286 shares of the Company’s common stock. As of December 31, 2014, 2,008 Convertible Preferred Shares remain outstanding.

Shareholders_Equity

Shareholders' Equity	3 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Shareholders' equity	NOTE 7 – SHAREHOLDERS’ EQUITY
	Common Stock
	On June 2, 2014, the Company issued 10,000,000 shares of its common stock to Chisholm II in exchange for oil and natural gas assets recorded at $1,898,947.
	As discussed above, the Company completed a reverse merger with Dala, with Dala being the acquirer for financial reporting purposes. At the date of the Merger, Westcott had 2,500,000 shares of common stock outstanding, which are now outstanding for the merged Company. The total amount of shares issued and outstanding post-Merger, as of June 30, 2014 was 12,500,000 shares of common stock.
	As discussed above, in November 2014, a shareholder converted 17 shares of Series A 6% convertible preferred shares of common stock into 24,286 common shares. As of December 31, 2014 there are a total of 12,524,286 common shares outstanding.
	Stock-Based Compensation
	On June 2, 2014, the Company granted options to acquire common shares to its Chief Executive Officer and two directors, totaling 600,000 options. The options have an exercise price of $0.70 per share for terms of six years. Of the total stock options, 400,000 vest equally over the next four years and 200,000 vest equally over the next two years. The total fair value of these options at the date of grant was estimated to be $400,087, and was determined using the Black-Scholes option pricing model with an expected lives of 4.25 (four-year vesting) and 3.75 years (two-year vesting), a risk-free interest rate of 1.92%, a dividend yield of 0% and expected volatility of 195%. The expected terms were determined using the simplified method. During the period from Inception to December 31, 2014, the Company recorded approximately $33,261 of stock-based compensation expense.
	The following is a summary of the status of all of the Company’s stock options as of December 31, 2014 and changes during the period ended on that date:
		Number	Weighted-		Weighted-
		of Options	Average		Average
			Exercise Price		Remaining
					Contractual Life
					(Years)
	Outstanding at September 30, 2014	600,000	$	0.7	5.68
	Granted	-		-	-
	Exercised	-		-	-
	Cancelled	-		-	-
	Outstanding at December 31, 2014	600,000	$	0.7	5.43
	Exercisable at December 31, 2014	-	$	-	-
	As of December 31, 2014, the intrinsic value of outstanding stock options was $384,000.

Derivatives

Derivatives	3 Months Ended
	Dec. 31, 2014
Derivative Instrument Detail [Abstract]
Derivatives	NOTE 8 – DERIVATIVES
	The Series A 6% Convertible Preferred Stock issued by the Company have a full-ratchet down-round provision on the exercise price, in which the investors’ conversion price is adjusted down to the share price of future financings. Therefore, following ASC 815-40, the warrants and the conversion feature of the preferred stock are not considered indexed to our own stock, and as such, the fair value of the embedded derivative liabilities are reflected on the balance sheet and all future changes in the fair value of these warrants and the conversion feature of the preferred stock will be recognized currently in earnings in our consolidated statement of operations under the caption “Loss on derivative valuation” until such time as the warrants are exercised or expire and until such time as the preferred stock is converted. The fair value of the conversion features of the preferred stock and the warrants was $2,371,970. The fair value of the full-ratchet down-round provision of the preferred stock and warrants was $96,524. The total derivative valuation as of December 31, 2014 was $2,468,494. These amounts were determined using a multi-nominal lattice model with the following assumptions as described below.
	Warrants:
	· Three year term
	· Risk-free rate of 0.46% during the three year term
	· Stock price volatility of 178.41%
	· Assumption of future stock offerings by the Company of zero in the first six months of the term and 100% in the next twelve months, with zero probability of being a down round
	Conversion Feature on Preferred Stock:
	· Estimated conversion of all preferred shares within 14 months
	· Risk-free rate of 0.89% based on the assumed two years outstanding
	· Stock price volatility of 147.82%
	· Assumption of future stock offerings by the Company of zero in the first six months of the term and 100% in the next twelve months, with zero probability of being a down round

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9 – COMMITMENTS AND CONTINGENCIES
	The Company, as a lessee of oil and gas properties, is subject to various federal, state and local laws and regulations relating to discharge of materials into, and protection of, the environment. These laws and regulations may, among other things, impose liability on the lessee under an oil and gas lease for the cost of pollution clean-up resulting from operations and subject the lessee to liability for pollution damages. We believe our operations are in substantial compliance with existing requirements of governmental bodies.

Going_Concern

Going Concern	3 Months Ended
	Dec. 31, 2014
Going Concern
Going Concern	NOTE 10 – GOING CONCERN
	The Company's financial statements have been prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business.
	Accordingly, the financial statements do not include any adjustments related to the recoverability of assets or classification of liabilities that might be necessary should the Company be unable to continue as a going concern. As of and for the three months ended December 31, 2014, the Company has recorded negative cash flows from operations and incurred net losses, respectively. In addition, the Company has incurred negative cash flows from operations and net losses for the period from inception on January 17, 2014 through December 31, 2014.  The Company is not currently generating any revenues from its oil and natural gas properties, but, is in the early exploration phase in identifying proved reserves from within its unproved properties.  Taken together the preceding circumstances raise substantial doubt about the Company's ability to continue as a going concern.
	The Company is attempting to commence explorations and generate revenue; however, the Company’s future cash position may not be sufficient to support its daily operations.  While the Company believes in the viability of its strategy in the exploration and development of its unproved properties and the Company’s ability to raise additional funds, until such time it is able to generate sufficient revenue to support its operations, there can be no assurances to that effect.  The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and in its ability to raise additional funds, until such time the Company can generate sufficient revenues to support its operations.
	The consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Accounting_Policies_Policies

Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
	The accompanying financial statements have been prepared without audit, pursuant to the rules and regulations of the SEC, in accordance with accounting principles generally accepted in the United States of America. The interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which, in the opinion of management, are necessary to present a fair statement of the results for the period.
	As discussed above in Note 2, the Company merged with Dala Petroleum Corp., a Nevada corporation (“Dala”) on June 2, 2014 (the “Merger”). Dala is focused on the acquisition and development of oil and natural gas resources in the United States. Prior to the Merger, Westcott was considered a shell company, as defined in SEC Rule 12b-2. For financial reporting purposes, the Merger represents a “reverse merger” rather than a business combination. Consequently, the assets and liabilities and the operations that are reflected in the historical financial statements are those of Dala immediately following the consummation of the reverse merger.
	As Dala’s date of Inception was January 17, 2014 (“Inception”), the Condensed Consolidated Balance Sheet as of September 30, 2014 includes the activity for Dala since that date and the activity of Westcott since June 2, 2014. Financial statements are not presented for comparative purposes for the Condensed Consolidated Statements of Operations and Condensed Consolidated Statement of Cash Flow, as Dala was not in existence in the comparative prior year period. All share and per-share amounts in these financial statements have been recast to reflect the continuing entity common stock.
Use of Estimates	Use of Estimates
	The timely preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ significantly from those estimates.
Fair value of Financial Instruments	Fair Value of Financial Instruments
	Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:
	Level 1 – Unadjusted quoted prices in active markets that are accessible at measurement date for identical assets or liabilities.
	Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
	Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities and less observable from objective sources.
Oil and Natural Gas Properties	Oil and Natural Gas Properties
	The Company follows the full cost method of accounting for oil and natural gas operations whereby all costs related to the exploration and development of oil and natural gas properties are initially capitalized into a single cost center (“full cost pool”). Such costs include land acquisition costs, a portion of employee salaries related to property development, seismic costs, geological and geophysical expenses, carrying charges on non-producing properties, costs of drilling directly related to acquisition, and exploration activities. Internal salaries are capitalized based on employee time allocated to the acquisition of leaseholds and development of oil and natural gas properties. The Company did not capitalize interest for the period ended December 31, 2014.
	Proceeds from property sales will generally be credited to the full cost pool, with no gain or loss recognized, unless such a sale would significantly alter the relationship between capitalized costs and the proved reserves attributable to these costs. During the three months ended December 31, 2014, the Company sold one leased property for an immaterial amount, for which no gain or loss was recognized.
	The Company assesses all items classified as unproved property on a quarterly basis for possible impairment or reduction in value. The assessment includes consideration of the following factors, among others: intent to drill, remaining lease term, geological and geophysical evaluations, drilling results and activity, the assignment of proved reserves, and the 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 are then subject to depletion and amortization. The costs of drilling exploratory dry holes are included in the amortization base immediately upon determination that the well is dry.
	Capitalized costs associated with impaired properties and properties having proved reserves, estimated future development costs, and asset retirement costs under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 410-20-25 are depleted and amortized on the unit-of-production method based on the estimated gross proved reserves. The costs of unproved properties are withheld from the depletion base until such time as they are developed, impaired, or abandoned.
	Under the full cost method of accounting, capitalized oil and natural gas property costs less accumulated depletion, net of deferred income taxes, may not exceed a ceiling amount equal to the present value, discounted at 10%, of estimated future net revenues from proved oil and natural gas reserves plus the cost of unproved properties not subject to amortization (without regard to estimates of fair value), or estimated fair value, if lower, of unproved properties that are subject to amortization. Should capitalized costs exceed this ceiling, which is tested on a quarterly basis, an impairment is recognized. The present value of estimated future net revenues is computed by applying prices based on a 12-month unweighted average of the oil and natural gas prices in effect on the first day of each month, less estimated future expenditures to be incurred in developing and producing the proved reserves (assuming the continuation of existing economic conditions), less any applicable future taxes.
Revenue Recognition	Revenue Recognition
	The Company recognizes oil and natural gas revenues from our interests in producing wells when production is delivered to, and title has transferred to, the purchaser and to the extent the selling price is reasonably determinable.
	The Company uses the sales method of accounting for balancing of natural gas production and would recognize a liability if the existing proven reserves were not adequate to cover the current imbalance situation.
Asset Retirement Obligation	Asset Retirement Obligation
	Asset retirement obligation (“ARO”) reflects the estimated present value of the amount of dismantlement, removal, site reclamation and similar activities associated with the Company's oil and natural gas properties. Inherent in the fair value calculation of the 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.
Stock-Based Compensation	Stock-based Compensation
	The Company records stock based compensation in accordance with the guidance in ASC 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This requires that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award.
	The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with ASC 718-10 and the conclusions reached by the ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by ASC 505-50.
Income Taxes	Income Taxes
	The Company follows ASC Topic 740 for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change.
	Deferred income taxes may arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. Deferred taxes are classified as current or non-current, depending on the classification of assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse.
	The Company applies a more-likely-than-not recognition threshold for all tax uncertainties. ASC Topic 740 only allows the recognition of those tax benefits that have a greater than fifty percent likelihood of being sustained upon examination by the taxing authorities. As of December 31, 2014, the Company reviewed its tax positions and determined there were no outstanding, or retroactive tax positions with less than a 50% likelihood of being sustained upon examination by the taxing authorities, therefore this standard has not had a material effect on the Company.
Loss per Share	Loss per Share
	The Company follows ASC Topic 260 to account for the loss per share. Basic loss per common share calculations are determined by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted loss per common share calculations are determined by dividing net loss by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation. As the Company has incurred losses for the period ended December 31, 2014, the potentially dilutive shares totaling 6,362,296 are anti-dilutive and are thus not added into the loss per share calculations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU No. 2014-09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for annual reporting periods beginning after December 15, 2016. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.
	In June 2014, the FASB issued Accounting Standards Update No. 2014-10 (“ASU No. 2014-10”), which eliminated the definition of a Development Stage Entity and the related reporting requirements. ASU No. 2014-10 is effective for annual reporting periods beginning after December 15, 2014, with early adoption allowed. The Company chose to adopt ASU No. 2014-10 early, effective in its financial statements for the year ended September 30, 2014.
	In August 2014, the FASB issued Accounting Standards Update No. 2014-15, (“ASU No. 2014-15”). The guidance requires management to perform an evaluation each annual and interim reporting period of whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within the one year period after the date that the financial statements are issued. If such conditions are identified, the guidance requires an entity to provide certain disclosures about the principal conditions or events that gave rise to the substantial doubt about the entity’s ability to continue as a going concern, management’s evaluation of the significance of those conditions or events in relation to the entity’s ability to meet its obligations and management’s plans to alleviate or mitigate substantial doubt about the entity’s ability to continue as a going concern. The guidance is effective for the first annual period ending after December 15, 2016 and interim periods thereafter. The Company currently does not expect the adoption of ASU No. 2014-15 to have a material impact on its financial statements and does not anticipate early adoption of this pronouncement.
	In November 2014, the FASB issued Accounting Standards Update No. 2014-16, (“ASU No. 2014-16”). This update amends existing guidance with the objective to eliminate the use of different methods in practice with respect to the consideration of redemption features in relation to other features when determining whether the nature of a host contract is more akin to debt or equity and thereby reduce existing diversity under GAAP in accounting for hybrid financial instruments issued in the form of a share. The amendments clarify how current GAAP should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. The amendments clarify that no single term or feature would necessarily determine the economic characteristics and risks of a host contract, but rather, the nature of the host contract depends upon the economic characteristics and risks of the entire hybrid financial instrument. In addition, the amendments in this update clarify that, in evaluating the nature of a host contract, an entity should assess the substance of the relevant terms and features when considering how to weight those terms and features. The guidance applies to all entities that are issuers of, or investor in, hybrid instruments that are issued in the form of a share. The effects of initially adopting the amendments in this update should be applied on a modified retrospective basis to existing hybrid financial instruments issued in the form of a share as of the beginning of the fiscal year for which the amendments are effective. Retrospective application is permitted to all relevant prior periods. The updates in this pronouncement are effective for public entities for fiscal years, and interim periods within those years, beginning after December 15, 2015. The Company is currently evaluating the adoption of ASU No. 2014-16 and the impact of the updates upon the Company. The Company plans on adopting the pronouncement for periods beginning after December 15, 2015 and does not anticipate early adoption of this pronouncement.
	In January 2015, the FASB issued Accounting Standards Update No. 2015-01, (“ASU No. 2015-01”). This update eliminates from GAAP the concept of extraordinary items, reduces complexity in accounting standards and alleviates uncertainty for preparers, auditors, and regulators by eliminating the need to evaluate the appropriate treatment of an unusual and/or infrequent item. The presentation and disclosure guidance for items that are unusual in nature and occur infrequently is retained and is expanded upon within this guidance to include items that are both unusual in nature and infrequent. Retrospective application is permitted to all relevant prior periods. The amendments in this update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. The Company is currently evaluating the adoption of ASU No. 2015-01 and the impact of the updates upon the Company. The Company plans on adopting the pronouncement for periods beginning after December 15, 2015 and does not anticipate early adoption of this pronouncement.
	The company has evaluated all other recent accounting pronouncements and believes that none of them will have a significant effect on the company’s financial statement.

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-Based Compensation, Stock Options, Activity
		Number	Weighted-		Weighted-
		of Options	Average		Average
			Exercise Price		Remaining
					Contractual Life
					(Years)
	Outstanding at September 30, 2014	600,000	$	0.7	5.68
	Granted	-		-	-
	Exercised	-		-	-
	Cancelled	-		-	-
	Outstanding at December 31, 2014	600,000	$	0.7	5.43
	Exercisable at December 31, 2014	-	$	-	-

Merger_Details_Narrative

Merger (Details Narrative)	9 Months Ended
	Sep. 30, 2014	Dec. 31, 2014
	Integer
	acre
Business Combinations [Abstract]
Business acquisition, name of acquired entity	Dala Petroleum Corp.
Business acquisition, effective date of acquisition	2-Jun-14
Business acquisition, percentage of voting interest	100.00%
Business acquisition, shares issued	10,000,000
Common stock, shares outstanding	12,500,000	12,524,286
Series A preferred convertible stock, dividend rate	6.00%
Business acquisition, post-merger, equity interest in acquiree, description	There were 12,500,000 outstanding shares of Westcott common stock, with pre-Merger Westcott stockholders owning 2,500,000 of these shares or approximately 20% of the outstanding voting securities of Westcott; and the members of Dala's sole stockholder owning approximately 10,000,000 of these shares or approximately 80% of these outstanding voting securities of Westcott.
Business acquisition, contingent consideration arrangement, description	Several conditions precedent as set forth in the Merger Agreement were completed prior to the Merger. One critical condition precedent set forth in the Merger Agreement was that Westcott would raise no less than $2,000,000 (the minimum offering) from persons who are "accredited investors" in consideration of the issuance (or the conversion) of a minimum of 2,000 shares up to a maximum of 2,500 shares of its Series A 6% Convertible Preferred Stock at the offering price of $1,000 per unit.
Series A preferred convertible stock, units issued	2,025	2,008
Series A convertible preferred stock, conversion terms	Each unit consisted of one share of Series A 6% Convertible Preferred Stock that is convertible at any time at the option of the Holder into common stock at the conversion price of $0.70 per common share based on the total dollar amount invested and 1,429 warrants to purchase common shares of the Company at an exercise price of $1.35 with a life of three years.
Oil and gas leases, acreage	80,000
Number of oil leases	300

Basis_of_Presentation_and_Sign

Basis of Presentation and Significant Accounting Policies (Details Narrative) (USD $)	3 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Oil and Gas Properties
Oil and gas properties, unproved	$1,996,081	$1,898,947
Proceeds from sale of property	4,000
Expenses incurred for oil and gas properties (consulting fees and due diligence costs)	138,769
Geological and Geophysical costs	101,134
Dry hole exploration expense, approximate	122,567
Asset Retirement Obligations
Asset retirement obligation	$0
Earnings Per Share
Potentially dilutive shares	6,362,296

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (USD $)	3 Months Ended	9 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Related Party Transactions [Abstract]
Contribution of unproved oil and natural gas properties		$1,898,947
Exploration and development obligation, description		The Company has a service agreement with Chisholm II to use its existing technical exploration team to further explore and develop the oil and gas Property. The Company is obligated to pay Chisholm II $25,000 per month plus expenses for these services.
Related party transaction, selling, general and administrative expenses	$75,000
Shares issued for transfer of oil and natural gas assets		10,000,000

Preferred_Convertible_Stock_an1

Preferred Convertible Stock and Warrants (Details Narrative) (USD $)	3 Months Ended	9 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Preferred Convertible Stock And Warrants
Series A preferred convertible stock, units issued	2,008	2,025
Series A preferred convertible stock, price per unit		$1,000
Series A preferred convertible stock, conversion basis		Series A 6% Convertible Preferred Stock that is convertible at any time at the option of the holder into common stock at the conversion price of $0.70 per common share based on the total dollar amount invested.
Conversion of Series A Convertible Preferred stock	17 shares of Series A 6% convertible preferred stock converted into common stock
Common stock issued as a result of conversion of Series A Convertible Preferred stock	24,286
Series A preferred convertible stock, shares outstanding	2,008	2,025
Warrants issued	2,008	1,429
Warrants, conversion price		$1.35
Number of common shares issuable on conversion of warrants	2,868,571
Proceeds from issuance of convertible preferred stock, net of offering costs		$1,990,000

Shareholders_Equity_Schedule_o

Shareholders' Equity - Schedule of Stock Option Activity (Details) (USD $)	3 Months Ended	9 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Share-Based Compensation Arrangement By Share-Based Payment Award Options Outstanding [Roll Forward]
Number of Options Outstanding, beginning of period	600,000
Number of Options, Granted	0
Number of Options, Exercised	0
Number of Options, Cancelled	0
Number of Options Outstanding, end of period	600,000	600,000
Share-Based Compensation Arrangement by Share-Based Payment Award Options Outstanding Weighted Average Exercise Price
Weighted Average Exercise Price Outstanding, beginning of period	$0.70
Weighted Average Exercise Price, Grants	$0
Weighted Average Exercise Price, Exercised	$0
Weighted Average Exercise Price, Cancelled	$0
Weighted Average Exercise Price Outstanding, end of period	$0.70	$0.70
Share-Based Compensation Arrangement by Share-Based Payment Award Options Additional Disclosures
Weighted Average Remaining Contractual Life (In Years) beginning of period	5 years 8 months
Weighted Average Remaining Contractual Life (In Years) end of period	5 years 5 months	6 years

Shareholders_Equity_Details_Na

Shareholders' Equity (Details Narrative) (USD $)	3 Months Ended	9 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Equity [Abstract]
Business acquisition, shares issued		10,000,000
Contribution of unproved oil and natural gas properties		$1,898,947
Common stock, other shares outstanding		2,500,000
Common stock, shares outstanding	12,524,286	12,500,000
Conversion of Series A Convertible Preferred stock	17 shares of Series A 6% convertible preferred stock converted into common stock
Common stock issued as a result of conversion of Series A Convertible Preferred stock	24,286
Number of Options, Granted	0
Weighted Average Exercise Price, Grants	$0
Weighted Average Remaining Contractual Life (In Years)	5 years 5 months	6 years
Stock options, vesting terms		Of the total stock options, 400,000 vest equally over the next four years and 200,000 vest equally over the next two years.
Fair value of options, date of grant		400,087
Fair value assumptions, dividend yield		0.00%
Stock-based compensation expense	33,261
Intrinsic value of outstanding options	$384,000

Derivatives_Details_Narrative

Derivatives (Details Narrative) (USD $)	3 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Derivative [Line Items]
Fair value of preferred and warrants issued	$2,371,970
Fair value of the full-rachet down-round provision of the preferred stock and warrants	96,524
Derivative liabilities	$2,468,494	$2,819,739
Warrant
Derivative [Line Items]
Fair value, expected lives	3 year term
Fair value, risk-free rate	0.46%
Fair value, stock price volatility	178.41%
Convertible Preferred Stock
Derivative [Line Items]
Fair value, expected lives	Within 14 months
Fair value, risk-free rate	0.89%
Fair value, stock price volatility	147.82%