Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 31, 2014 | Jun. 30, 2013 | |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Trading Symbol | 'anr | ' | ' |
Entity Registrant Name | 'American Natural Energy Corp | ' | ' |
Entity Central Index Key | '0000870732 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 26,405,085 | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Well Known Seasoned Issuer | 'No | ' | ' |
Entity Public Float | ' | ' | $156,253 |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Current assets: | ' | ' |
Cash and cash equivalents | $82,295 | $31,177 |
Accounts receivable - joint interest billing | 12,505 | 30,315 |
Accounts receivable - oil and gas sales | 163,321 | 173,006 |
Prepaid expenses and other | 47,661 | 81,630 |
Oil inventory | 20,833 | 25,509 |
Deferred financing costs | 0 | 95,661 |
Total current assets | 326,615 | 437,298 |
Proved oil and natural gas properties, full cost method of accounting, net of accumulated depletion, depreciation, amortization and impairment of $22,989,672 and $22,090,310 respectively | 18,263,854 | 19,342,785 |
Unproved oil and natural gas properties | 724,266 | 661,641 |
Equipment and other fixed assets, net of accumulated depreciation of $1,172,907 and $1,154,600 | 5,324 | 23,631 |
Total assets | 19,320,059 | 20,465,355 |
Current liabilities: | ' | ' |
Accounts payable and accrued liabilities | 4,254,749 | 3,648,736 |
Revenue payable | 3,522,279 | 3,521,805 |
Accounts payable - related parties | 99,733 | 40,135 |
Accrued interest | 532,392 | 136,690 |
Insurance note payable | 31,102 | 39,275 |
Notes payable - related parties, net of discounts of $590,015 and $0 | 3,220,896 | 630,355 |
Notes payable, net of discounts of $256,023 and $186,791 respectively | 2,320,523 | 2,024,670 |
Taxes due on dissolution of subsidiary | 32,752 | 40,252 |
Total current liabilities | 14,014,426 | 10,081,918 |
Debenture payable-related parties, net of discounts of $0 and $1,195,561 respectively | 0 | 1,554,439 |
Asset retirement obligation | 2,165,521 | 2,392,369 |
Total liabilities | 16,179,947 | 14,028,726 |
Commitments and contingencies | 0 | 0 |
Stockholders' equity: | ' | ' |
Common stock Authorized - 250,000,000 shares with par value of $0.001 26,405,085 and 26,405,085 shares issued and outstanding respectively | 26,405 | 26,405 |
Treasury stock | -150,000 | 0 |
Additional paid-in capital | 25,874,430 | 25,874,430 |
Accumulated deficit, since January 1, 2002 (in conjunction with the quasi- reorganization stated capital was reduced by an accumulated deficit of $2,015,495) | -26,693,360 | -23,546,843 |
Accumulated other comprehensive income | 4,082,637 | 4,082,637 |
Total stockholders' equity | 3,140,112 | 6,436,629 |
Total liabilities and stockholders' equity | $19,320,059 | $20,465,355 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Accumulated Depreciation, Depletion and Amortization, Proved Oil and Gas Properties | $22,989,672 | $22,090,310 |
Equipment and other fixed assets, net of accumulated depreciation | 1,172,907 | 1,154,600 |
Notes payable related parties net of discounts | 590,015 | 0 |
Note payable, net of discounts | 256,023 | 186,791 |
Debenture payable-related parties, net of discounts | 0 | 1,195,561 |
Common Stock, Shares Authorized | 250,000,000 | 250,000,000 |
Common Stock, Par Value Per Share | $0.00 | $0.00 |
Common Stock, Shares, Issued | 26,405,085 | 26,405,085 |
Common Stock, Shares, Outstanding | 26,405,085 | 26,405,085 |
Quasi-reorganization stated capital reduced by an accumulated deficit | $2,015,495 | $2,015,495 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Other Comprehensive Income (Loss) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Revenues: | ' | ' |
Oil and gas sales | $3,269,758 | $2,043,489 |
Operations income | 51,912 | 50,044 |
Total revenues | 3,321,670 | 2,093,533 |
Expenses: | ' | ' |
Lease operating expense | 894,546 | 1,003,802 |
Production taxes | 323,326 | 112,214 |
General and administrative | 1,943,140 | 1,986,223 |
Foreign exchange (gain) loss | -32,626 | 317,756 |
Depreciation, depletion, and amortization - oil and gas properties | 899,362 | 541,588 |
Accretion of asset retirement obligation | 260,616 | 183,502 |
Depreciation and amortization - other assets | 18,307 | 23,547 |
Total operating expenses | 4,306,671 | 4,168,632 |
Other (income) expenses | ' | ' |
Interest and bank charges | 1,085,174 | 946,314 |
Related party interest | 1,036,389 | 382,154 |
(Gain)/Loss on settlement of debt | 39,953 | -85,105 |
Net loss | -3,146,517 | -3,318,462 |
Other comprehensive income (loss): | ' | ' |
Translation of foreign currency gain | 0 | 284,235 |
Other comprehensive income (loss) | 0 | 284,235 |
Comprehensive loss | ($3,146,517) | ($3,034,227) |
Net loss per share - basic and diluted | ($0.12) | ($0.15) |
Weighted average number of shares outstanding - basic and diluted | 26,405,085 | 22,348,622 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Cash flows from operating activities: | ' | ' |
Net loss | ($3,146,517) | ($3,318,462) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ' | ' |
Depreciation, depletion and amortization | 917,669 | 565,135 |
Accretion of asset retirement obligation | 260,616 | 183,502 |
Foreign exchange (gain) loss | -32,626 | 317,756 |
Noncash compensation expense | 0 | 397,786 |
Amortization of deferred financing costs | 220,661 | 345,661 |
Amortization of debt discount | 695,682 | 320,299 |
Related party amortization of debt discount | 605,546 | 153,839 |
(Gain)/Loss on settlement of debt | 39,953 | -85,105 |
Changes in working capital items: | ' | ' |
Accounts receivable | 27,495 | -149,254 |
Oil inventory | 4,676 | 975 |
Prepaid expenses | 85,408 | 67,338 |
Accounts payable, revenues payable and accrued liabilities | 257,927 | -101,505 |
Net cash used in operating activities | -63,510 | -1,302,035 |
Cash flows from investing activities: | ' | ' |
Purchase and development of oil and gas Properties | -56,674 | -2,650,234 |
Net cash used in investing activities | -56,674 | -2,650,234 |
Cash flows from financing activities: | ' | ' |
Payment of notes payable - related party | -74,444 | -55,556 |
Payment of notes payable | -1,907,383 | -1,945,648 |
Proceeds from issuance of notes payable | 1,698,129 | 2,979,650 |
Proceeds from issuance of notes payable- related party | 505,000 | 2,750,000 |
Shares issued for cash | 0 | 420,000 |
Payment of deferred financing costs | -50,000 | -165,000 |
Net cash provided by financing activities | 171,302 | 3,983,446 |
Increase in cash and cash equivalents | 51,118 | 31,177 |
Cash and cash equivalents beginning of period | 31,177 | 0 |
Cash and cash equivalents end of period | 82,295 | 31,177 |
Supplemental disclosures: | ' | ' |
Interest paid | 421,254 | 414,592 |
Taxes Paid | 7,500 | 5,000 |
Non cash financing and investing activities: | ' | ' |
Purchase of oil and gas properties in accounts payable | 353,798 | 1,431,091 |
Asset retirement obligation revision | 370,566 | 0 |
Settlement of asset retirement obligation plugging costs through oil and gas property | 116,898 | 0 |
Deferred financing cost due to warrants issued | 0 | 68,046 |
Purchase of treasury stock in accounts payable | 150,000 | 0 |
Non-cash addition to prepaid insurance and debt | 51,439 | 64,827 |
Debt discount due to liquidation rights transferred to a related party | 0 | 39,619 |
Deferred financing costs due to common shares issued | 0 | 110,776 |
Debt discount due to common shares issued | 0 | 129,240 |
Debt discount due to unpaid fees related to TCA debt | 492,561 | 200,000 |
Related party debt discount due to conversion option and warrants issued | 0 | 1,309,782 |
Deferred financing costs due to cash withheld by lender | 75,000 | 0 |
Debt discount due to cash withheld by lender | $0 | $170,350 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders Equity (USD $) | Additional Paid-In Capital [Member] | Common Stock [Member] | Accumulated Other Comprehensive Income [Member] | Accumulated deficit [Member] | Treasury stock [Member] | Total |
Beginning Balance at Dec. 31, 2011 | $23,451,773 | $13,432 | $3,798,402 | ($20,228,381) | ' | $7,035,226 |
Beginning Balance (Shares) at Dec. 31, 2011 | ' | 13,431,954 | ' | ' | ' | ' |
Debt discount due to shares issued with debt | 127,475 | 1,765 | ' | ' | ' | 129,240 |
Debt discount due to shares issued with debt (Shares) | ' | 1,764,706 | ' | ' | ' | ' |
Deferred financing costs due to shares issued with debt | 109,568 | 1,208 | ' | ' | ' | 110,776 |
Deferred financing costs due to shares issued with debt (Shares) | ' | 1,208,425 | ' | ' | ' | ' |
Deferred financing costs due to warrants issued with debt | 68,046 | ' | ' | ' | ' | 68,046 |
Debt discount due to warrants issued with debt | 1,309,782 | ' | ' | ' | ' | 1,309,782 |
Shares issued for services | 246,000 | 3,000 | ' | ' | ' | 249,000 |
Shares issued for services (Shares) | ' | 3,000,000 | ' | ' | ' | ' |
Stock option compensation expense | 148,786 | ' | ' | ' | ' | 148,786 |
Shares issued for cash | 413,000 | 7,000 | ' | ' | ' | 420,000 |
Shares issued for cash (Shares) | ' | 7,000,000 | ' | ' | ' | ' |
Foreign exchange translation | ' | ' | 284,235 | ' | ' | 284,235 |
Net loss | ' | ' | ' | -3,318,462 | ' | -3,318,462 |
Ending Balance at Dec. 31, 2012 | 25,874,430 | 26,405 | 4,082,637 | -23,546,843 | ' | 6,436,629 |
Ending Balance (Shares) at Dec. 31, 2012 | ' | 26,405,085 | ' | ' | ' | ' |
Purchase treasury stock | ' | ' | ' | ' | -150,000 | -150,000 |
Purchase treasury stock (Shares) | ' | ' | ' | ' | -1,730,706 | ' |
Net loss | ' | ' | ' | -3,146,517 | ' | -3,146,517 |
Ending Balance at Dec. 31, 2013 | $25,874,430 | $26,405 | $4,082,637 | ($26,693,360) | ($150,000) | $3,140,112 |
Ending Balance (Shares) at Dec. 31, 2013 | ' | 26,405,085 | ' | ' | -1,730,706 | ' |
Basis_of_presentation_and_summ
Basis of presentation and summary of significant accounting policies | 12 Months Ended | ||
Dec. 31, 2013 | |||
Basis of presentation and summary of significant accounting policies [Text Block] | ' | ||
1 | Basis of presentation and summary of significant accounting policies | ||
Description of company | |||
American Natural Energy Corporation (“ANEC”) is an oil and natural gas exploration and production company engaged in the acquisition, exploration and development of oil and natural gas properties for the production of crude oil and natural gas. ANEC’s properties are located in Louisiana. | |||
ANEC, an Oklahoma corporation, was formed by amalgamation on July 9, 1991 under the Company Act (British Columbia) and was continued under the Canada Business Corporations Act on August 1, 1991. On January 22, 2002, Gothic Resources Inc. (“Gothic”) completed a plan of arrangement under Section 192 of the Canada Business Corporations Act with ANEC which was at the time a wholly-owned subsidiary of Gothic, whereby all of the shareholders of Gothic exchanged their common shares in the capital of Gothic for common shares in the capital of ANEC, Gothic became a wholly owned subsidiary of ANEC and the former shareholders of Gothic became shareholders of ANEC. The plan of arrangement became effective February 8, 2002. The shares of Gothic are no longer listed on the Toronto Venture Exchange, Inc. and in their place, the shares of ANEC are listed on that exchange, quoted and traded in U.S. dollars under the symbol ANR.U. Also on that date, the shareholders approved the reduction of the stated capital of Gothic by the amount of the accumulated deficit of $2,015,495. This transaction has been accounted for as a quasi-reorganization. Gothic may be deemed a predecessor of the Company. | |||
Consolidation | |||
The consolidated financial statements include the accounts of ANEC and its wholly-owned subsidiary Gothic (collectively, the “Company”). All significant intercompany accounts and transactions are eliminated in consolidation. | |||
The consolidated financial statements contained herein have been prepared in accordance with accounting principles generally accepted in the United States of America, which differ in certain respects from accounting principles generally accepted in Canada. | |||
Cash and cash equivalents | |||
Cash and cash equivalents consist of short-term, highly liquid investments with maturities of 90 days or less at the time of acquisition. Cash and cash equivalents are deposited with three institutions and the balance at either institution does not exceed the federally insured limits at December 31, 2013 and 2012. While balances may periodically exceed the federal depository insurance limit, the Company has not experienced any losses on deposits. | |||
Allowance for Doubtful Accounts | |||
The Company establishes provisions for losses on accounts receivable if it determines that it will not collect all or part of the outstanding balance. The Company regularly reviews collectability and establishes or adjusts the allowance as necessary using the specific identification method. There is no significant allowance for doubtful accounts as of December 31, 2013 or 2012. | |||
Oil and natural gas properties | |||
The Company follows the full cost method of accounting for oil and natural gas properties. The Company defers the costs of exploring for and developing oil and natural gas reserves until such time as proved reserves are attributed to the properties. At that time, the deferred costs are amortized on a unit-of-production basis. Such costs include land acquisition costs, geological and geophysical costs, costs of drilling wells, asset retirement costs, interest costs on major development projects and overhead charges directly related to acquisition, exploration and development activities. | |||
The net book value of all capitalized oil and natural gas properties within a cost center, less related deferred income taxes, is subject to a full cost ceiling limitation which is calculated quarterly. Under the ceiling limitation, costs may not exceed an aggregate of the present value of future net revenues attributable to proved oil and natural gas reserves discounted at 10 percent using current prices, plus the lower of cost or market value of unproved properties included in the amortization base, plus the cost of unevaluated properties, less any associated tax effects. Any excess of the net book value, less related deferred tax benefits, over the ceiling is written off as expense. Impairment expense recorded in one period may not be reversed in a subsequent period even though higher oil and gas prices may have increased the ceiling applicable to the subsequent period. Based on the results of the ceiling limitation test, no impairment was recorded in the years ended December 31, 2013 and 2012. | |||
In certain instances, the Company may capitalize interest on the cost of unevaluated oil and natural gas properties excluded from amortization, based on the Company's weighted average cost of borrowings used to finance the expenditures. For the years ended December 31, 2013 and 2012, the Company did not capitalize any interest to its unevaluated properties. | |||
Unevaluated oil and natural gas properties are reviewed on an annual basis for impairment. | |||
Proceeds from the sale of properties are accounted for as reductions of capitalized costs unless such sales involve a significant change in the relationship between costs and the value of proved reserves or the underlying value of unproved properties, in which case a gain or loss is recognized. | |||
The Company is in the process of exploring its unproved oil and natural gas properties and has not yet determined whether these properties contain reserves that are economically recoverable. The recoverability of amounts shown for oil and natural gas properties is dependent upon the discovery of economically recoverable reserves, confirmation of the Company’s interest in the underlying oil and gas leases, the ability of the Company to obtain necessary financing to complete their exploration and development and future profitable production or sufficient proceeds from the disposition thereof. The Company is, therefore, unable to estimate when these costs will be included in the amortization computation. | |||
Equipment and other fixed assets | |||
Equipment and other fixed assets are stated at cost less accumulated depreciation. Depreciation expense is determined using a straight-line method over the estimated useful lives of the assets. The ranges of estimated useful lives for financial reporting are as follows: | |||
Computer equipment | 3 | years | |
Office furniture and equipment | 7-May | years | |
Leasehold improvements | 1 | year | |
Barges and field equipment | 10-May | years | |
Gas gathering and production facility | 10 | years | |
When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is reflected in income for the period. Maintenance and repairs are charged to expense as incurred. | |||
Foreign exchange and currency translation | |||
The Company's functional and reporting currency is the U.S. dollar. Transactions denominated in foreign currencies are translated into U.S. dollars at exchange rates in effect on the date of the transactions. Exchange gains or losses on transactions are included in earnings. For Gothic, whose functional currency is the Canadian dollar, the results of operations are translated from local currencies into U.S. dollars using average exchange rates during each period; assets and liabilities are translated using exchange rates at the end of each period. Adjustments resulting from the translation process are reported in a separate component of other comprehensive income and are not included in the determination of the results of operations. | |||
Revenue recognition | |||
Revenues from the sale of oil produced are recognized upon the passage of title, net of royalties and net profits interests. Revenues from natural gas production are recorded using the sales method, net of royalties and net profits interests, which may result in more or less than the Company's share of pro-rata production from certain wells. When natural gas sales volumes exceed the Company's entitled share and the overproduced balance exceeds the Company's share of the remaining estimated proved natural gas reserves for a given property, the Company will record a liability. Imbalances at December 31, 2013 and 2012 were insignificant. The Company's policy is to expense the pro-rata share of lease operating costs from all wells as incurred. | |||
The Company’s oil production is sold under market sensitive or spot price contracts. Oil sales to Sunoco, Inc (formerly Texon L.P.) of $3,260,958 and $2,034,070 in 2013 and 2012, respectively, accounted for 99% total oil and gas sales for both years. The Company’s accounts receivable are primarily due from exploration and production companies which own an interest in the properties the Company operates and from purchasers of oil and natural gas. The industry concentration has the potential to impact the Company’s exposure to credit risk because such companies may be similarly affected by changes in economic and industry conditions. | |||
Operations income represents charges billed to non-operator working interest owners who own a working interest in the wells in which the Company serves as operator. The income is recognized in the month in which oil and gas is produced. | |||
Asset retirement obligations | |||
Effective January 1, 2003, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 410-20, Accounting for Asset Retirement Obligations . This statement applies to obligations associated with the retirement of tangible long-lived assets that result from the acquisition, construction and development of the assets. ASC 410-20 requires that the fair value of a liability for a retirement obligation be recognized in the period in which the liability is incurred. For oil and gas properties, this is the period in which an oil or gas well is acquired or drilled. The asset retirement obligation is capitalized as part of the carrying amount of our oil and gas properties at its discounted fair value. The liability is then accreted each period until the liability is settled or the well is sold, at which time the liability is reversed. | |||
Income taxes | |||
The Company accounts for income taxes under FASB ASC 740, Accounting for Income Taxes. Deferred tax assets and liabilities are determined based on the differences between the tax bases of assets and liabilities and those reported in the consolidated financial statements. The deferred tax assets or liabilities are calculated using the enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are recognized to the extent that they are considered more likely than not to be realized. Income taxes and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or income tax returns. | |||
Use of estimates | |||
The preparation of consolidated financial statements in conformity with generally accepted accounting principles 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 consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant areas requiring the use of estimates are assessing the recoverability of capitalized oil and natural gas property costs, oil and gas reserve estimates, asset retirement obligations and recoverability of deferred tax assets. Actual results could differ from those estimates. | |||
Earnings (loss) per share | |||
Basic earnings (loss) per share are computed by dividing net income or loss (the numerator) by the weighted average number of shares outstanding during the period (the denominator). The computation of diluted earnings per share is the same as for basic earnings per share except the denominator is increased to include the weighted average additional number of shares that would have been outstanding if previously granted stock options had been exercised, unless they are anti-dilutive. | |||
Comprehensive income (loss) | |||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to report net income (loss) as a component of comprehensive income (loss) in the consolidated financial statements. Comprehensive income (loss) is defined as the change in equity of a business enterprise arising from non-owner sources. The Company had other comprehensive income of $0 and $284,235 for 2013 and 2012 respectively as a result of foreign exchange translation gains and losses. As of December 31, 2013 and 2012, accumulated other comprehensive income (loss) was composed solely of foreign currency translation gains and losses. | |||
Stock-based compensation | |||
During 2012, the Company recognized compensation costs of $148,786 related to stock options issued November 30, 2010 and September 8, 2009. On February 17, 2012, the Company issued 1.5 million Restricted Shares each to Mike Paulk and Steven Ensz as compensation for personal guarantees provided in connection with various outstanding financings. The fair value of these shares of $249,000 was recorded as stock based compensation expense in the first quarter of 2012. No compensation costs were recognized by the Company during 2013. | |||
At December 31, 2013, there were 2,380,000 options outstanding and exercisable with a weighted average exercise price of $0.41. The weighted average remaining contractual term for these options at December 31, 2013 was 1.75 years. These options had no intrinsic value at December 31, 2013. | |||
New pronouncements | |||
No new accounting pronouncements had a material impact on the financial statements. | |||
Reclassification of Prior Period Statements | |||
Certain reclassifications of prior period consolidated financial statements balances have been made to conform to current reporting practices. |
Going_Concern
Going Concern | 12 Months Ended | |
Dec. 31, 2013 | ||
Going Concern [Text Block] | ' | |
2 | Going Concern | |
The Company currently has a severe shortage of working capital and funds to pay its liabilities. The Company has limited current borrowing capacity with lenders. The Company recorded a net loss of $3,146,517 in 2013. The Company has a working capital deficiency and an accumulated deficit at December 31, 2013 which leads to substantial doubt concerning the ability of the Company to meet its obligations as they come due. The Company also has a need for substantial funds to develop its oil and gas properties and repay borrowings as well as to meet its other current liabilities. | ||
The accompanying consolidated financial statements have been prepared on a going concern basis which contemplates continuity of operations, realization of assets and liquidation of liabilities in the ordinary course of business. As a result of the losses incurred and current negative working capital, there is no assurance that the carrying amounts of assets will be realized or that liabilities will be liquidated or settled for the amounts recorded. The ability of the Company to continue as a going concern is dependent upon adequate sources of capital and the Company’s ability to sustain positive results of operations and cash flows sufficient to continue to explore for and develop its oil and gas reserves and pay its obligations. | ||
Management’s strategy has been to obtain additional financing or industry partners. It is management’s intention to raise additional debt or equity financing to fund its operations and capital expenditures or to enter into another transaction in order to maximize shareholder value. Failure to obtain additional financing can be expected to adversely affect the Company’s ability to pay its obligations, further the development of its properties, grow revenues, oil and gas reserves and achieve and maintain a significant level of revenues, cash flows, and profitability. There can be no assurance that the Company will obtain this additional financing at the time required, at rates that are favourable to the Company, or at all. Further, any additional equity financing that is obtained may result in material dilution to the current holders of common stock. |
Equipment_and_other_fixed_asse
Equipment and other fixed assets | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Equipment and other fixed assets [Text Block] | ' | |||||||
3 | Equipment and other fixed assets | |||||||
The carrying value of equipment and other fixed assets as of December 31, 2013 and 2012 included the following components: | ||||||||
2013 | 2012 | |||||||
$ | $ | |||||||
Computer, office furniture and equipment | 163,060 | 163,060 | ||||||
Leasehold improvements | 5,520 | 5,520 | ||||||
Barges and field equipment | 802,014 | 802,014 | ||||||
Gas gathering and production facility expansion | 207,637 | 207,637 | ||||||
1,178,231 | 1,178,231 | |||||||
Less: Accumulated depreciation | (1,172,907 | ) | (1,154,600 | ) | ||||
5,324 | 23,631 |
Asset_retirement_obligations
Asset retirement obligations | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Asset retirement obligations [Text Block] | ' | |||||||
4 | Asset retirement obligations | |||||||
The Company’s asset retirement obligations relate to plugging and abandonment of oil and gas properties. The components of the change in the Company’s asset retirement obligations during 2013 and 2012 are shown below. | ||||||||
For the years ended December 31, | ||||||||
2013 | 2012 | |||||||
$ | $ | |||||||
Asset retirement obligations, January 1 | 2,392,369 | 2,208,867 | ||||||
Additions and revisions | (370,566 | ) | - | |||||
Settlements and disposals | (116,898 | ) | - | |||||
Accretion expense | 260,616 | 183,502 | ||||||
Asset retirement obligations, December 31 | 2,165,521 | 2,392,369 |
Notes_payable_and_longterm_deb
Notes payable and long-term debt | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Notes payable and long-term debt [Text Block] | ' | |||||||
5 | Notes payable and long-term debt | |||||||
Notes payable and long-term debt as of December 31, 2013 and 2012 consisted of the following: | ||||||||
31-Dec-13 | 31-Dec-12 | |||||||
$ | $ | |||||||
Note payable – Citizens Bank of Oklahoma | 65,921 | 195,921 | ||||||
Note payable – Eaton Oil Tools | 40,075 | - | ||||||
Note payable – TCA Global Credit Master Fund | 2,096,610 | 1,608,974 | ||||||
Discount on TCA Global Credit Master Fund note | (256,023 | ) | (186,791 | ) | ||||
Note payable – Leede Financial | 373,940 | 406,567 | ||||||
Total third-party notes payable and long-term debt | 2,320,523 | 2,024,671 | ||||||
Debenture payable – Palo Verde (Note 6) | 3,000,000 | 2,500,000 | ||||||
Discount on Palo Verde debt | (590,015 | ) | (1,185,568 | ) | ||||
Note payable – TPC Energy | 414,183 | 414,183 | ||||||
Discount on TPC Energy Note | - | (9,994 | ) | |||||
Note payable – Mike Paulk | 375,000 | 444,444 | ||||||
Note payable - Other | 21,728 | 21,728 | ||||||
Total related party notes payable and long-term debt | 3,220,896 | 2,184,793 | ||||||
Total notes payable and long-term debt | 5,541,419 | 4,209,464 | ||||||
Less: Current portion | (5,541,419 | ) | (2,655,025 | ) | ||||
Total notes payable and long-term debt, net of current portion | - | 1,554,439 | ||||||
On September 10, 2009, the Company entered into a $500,000 unsecured short-term note with Citizens Bank of Oklahoma. The balance of the note was $422,464 and accrued interest at 10% per annum on December 31, 2011. On January 31, 2012, the loan was modified with a new interest rate of 12% and a maturity date of July 31, 2012. On July 31, 2012, the loan was further modified to extend the maturity date to September 30, 2013. On September 30, 2013, the loan was modified to extend the maturity date to February 28, 2014. All accrued interest is payable monthly. Proceeds of $475,500 from the note were paid to the Company and the remaining proceeds of $24,500 were used to pay off a prior note with Citizens Bank of Oklahoma. Net payments of $130,000 and $226,543 were made during the twelve months ended December 31, 2013 and 2012. The Company evaluated the application of ASC 470-50 and ASC 470-60 and concluded that the revised terms constituted a debt modification, rather than a debt extinguishment or a troubled debt restructuring. | ||||||||
As of December 31, 2013 and December 31, 2012, the Company had an outstanding note to TPC Energy with a principal balance of $164,183. On March 31, 2013, the due date of the note was extended to March 31, 2014. Other terms of the note remain unchanged. The company evaluated the extension under FASB ASC 470-50 and FASB ASC 470-60 and concluded the revised term constituted a debt modification, rather than a debt extinguishment or a troubled debt restructuring. | ||||||||
During the first quarter of 2012, TPC Energy advanced $250,000 to the Company with repayment of the loan due one year from the date of advancement and with interest payable monthly. In addition to the $250,000, the Company assigned 50% of its interest in its share of the Liquidation Agents account distributions to TPC Energy for the life of the note. The rights were valued at $39,619 and were recorded as a discount on the note, which is being amortized over the life of the note using the effective interest method. During the year ended December 31, 2012, $29,626 of the discount was amortized to interest expense. On March 11, 2013, the due date of the note was extended to March 11, 2014 and TPC Energy will continue to receive the 50% of the company’s interests in its share of the Liquidation Agents account distributions for an extra year until March 11, 2014. The Company evaluated the extension under FASB ASC 470-50 and determined that the modification was substantial and qualified as a debt extinguishment. The additional rights were valued at $39,953 and were recorded as a loss on debt extinguishment. The remaining $9,994 debt discount was also amortized during the three months ended March 31, 2013. The TPC note is included in Notes Payable – Related Parties on the balance sheet as of December 31, 2013. | ||||||||
On February 17, 2011, the Company entered into a $500,000 note payable with Mike Paulk and Steven Ensz, directors of the Company, with an annual interest rate of 10%. The note, initially due February 15, 2012 has been renewed and extended until February 17, 2014. The Company evaluated the application of ASC 470-50 and ASC 470-60 and concluded that the revised terms constituted a debt modification rather than a debt extinguishment or a troubled debt restructuring. The Company received an additional $5,000 during the year ended December 31, 2013. Payments totaling $74,444 and $55,556 were made during the years ended December 31, 2013 and 2012. | ||||||||
The Company entered into a financing agreement with TCA Global Credit Master Fund, LP during the first quarter of 2012. Proceeds of the financing are to be used for the drilling and completion of wells included in the Company’s inventory of Proved Undeveloped reserves (“PUD”). The Company has a commitment for a total amount of $3 million, before fees and expenses, through the issuance of a series of $1 million debentures. The debenture is secured by a first priority, perfected security interest and mortgage in oil and gas leases and properties. At no time shall the investor funds exceed 65% of the drilling and completion cost of the PUD’s with the balance provided by the Company’s generated funds. | ||||||||
In January 2012, the first tranche TCA debt of $1 million was issued. The debt was due on December 29, 2012 and is payable monthly with a mandatory redemption fee equal to 10% and interest of 5%. Fees paid in cash and common stock to TCA Global Credit Master Fund, LP of $195,440 were recorded as a debt discount. As of December 31, 2012 the first tranche TCA debt was paid in full and the debt discount was fully amortized. | ||||||||
In connection with the issuance of first tranche TCA debt, the Company paid cash fees and issued shares and warrants to other third parties valued at $273,833. These cash fees, common shares and warrants were recorded as deferred financing costs, which were fully amortized as of December 31, 2012. | ||||||||
In August 2012, the second tranche TCA debt of $1 million was issued. The debt is due on August 31, 2013 and is payable monthly with a mandatory redemption fee equal to 10% and interest of 5%. Out of $1 million debt proceed, $333,333 was used to pay off the remaining principal balance of the first tranche TCA debt, $497,000 was kept in escrow account to pay off two legal settlements, and net proceeds of $111,167 was received by the Company. As of December 31, 2012, the two legal cases were settled by paying the plaintiffs $374,767, and the remaining debt proceed of $122,233 in the escrow account was released and received by the Company. Fees paid and to be paid in cash totaling $157,500 to TCA Global Credit Master Fund, LP were recorded as a debt discount. As of December 31, 2012, $81,849 of debt discount had been amortized. | ||||||||
In connection with the issuance of second tranche TCA debenture, the Company paid cash fees and issued shares and warrants to other third parties valued at $117,489. These cash fees, common shares and warrants were recorded as deferred financing costs, of which $61,570 have been amortized as of December 31, 2012. | ||||||||
In October 2012, the third tranche TCA debt of $1 million was issued. The debt is due on October 31, 2013 and is payable monthly with a mandatory redemption fee equal to 10% and interest of 5%. Out of $1 million debt proceeds, $187,882 was used as advanced payments for the first two payments due on the third tranche and net proceeds of $757,968 was received by the Company. Fees paid and to be paid in cash totaling $154,150 to TCA Global Credit Master Fund, LP were recorded as a debt discount. As of December 31,2012, $43,010 of debt discount has been amortized. | ||||||||
In connection with the issuance of third tranche TCA debenture, the Company paid cash fees to other third parties valued at $50,000.These cash fees were recorded as deferred financing costs, of which $14,363 have been amortized as of December 31, 2012. | ||||||||
In October 2012, the Company issued an additional $150,000 note to TCA. The debt is due on August 31, 2013 and is payable monthly with no interest rate. Payments totaling $50,000 have been made as of December 31, 2012. | ||||||||
In March 2013, the fourth tranche TCA debt of $1 million was issued. The debt is due on March 1, 2014 and is payable monthly with a mandatory redemption fee equal to 10% and interest of 5%. Out of $1 million debt proceeds, $55,550 was paid to TCA for various fees, and net proceeds of $944,450 were received by the Company. The Company will also pay TCA $100,000 in cash in lieu of a stock bonus related to the issuance of the note. Fees paid and to be paid in cash totaling $155,550 to TCA Global Credit Master Fund, LP were recorded as a debt discount. | ||||||||
In connection with the issuance of fourth tranche TCA debenture, the Company paid cash fees to other third parties valued at $50,000. These cash fees were recorded as deferred financing costs. | ||||||||
In July 2013, the fifth tranche TCA debt of $750,000 was issued. The debt is due on August 1, 2014 and is payable monthly with a mandatory redemption fee equal to 10% and interest of 5%. Fees totaling $44,175 were paid with net proceeds of $705,825 received by the Company. Along with the issuance of the fifth tranche TCA debt, the Company combined all the outstanding TCA debts into one debt by entering into an amended debt agreement with TCA. The amended debt has a principal of $2,290,548.24, accrues interest at 5% per annum, and is due on August 1, 2014. Starting August 1, 2013 the Company is paying the amended TCA debt in monthly installments of $230,451.49 which includes the payment of fees and redemption premiums of $49,073 per month. The company evaluated the extension under FASB ASC 470-50 and FASB ASC 470-60 and concluded the revised term constituted a debt modification, rather than a debt extinguishment or a troubled debt restructuring. Immediately after the amendment, the unamortized debt discount on the TCA debt was $606,320. At December 31, 2013 all redemption premiums and other remaining fees were included in the TCA note payable. The total note principal balance of TCA debts and related unamortized debt discounts on December 31, 2013 are $2,096,610 and $256,023, respectively. | ||||||||
During the twelve months ended December 31, 2013, payments totaling $1,709,990 were made to TCA debts and $695,681 of debt discounts were amortized. | ||||||||
In December 2009, the Company entered into a $373,045 unsecured short-term note with Leede Financial with an interest rate of 12% per annum. The note is payable in Canadian dollars. On June 30, 2013, the Company extended the maturity date of note payable to Leede Financial to December 31, 2013. To date, the due date of this note has not been extended. The other terms of the note payable remain unchanged. The Company evaluated the application of ASC 470-50 and ASC 470-60 and concluded the revised term constituted a debt modification. As the note is denominated in Canadian dollars, the Company adjusted the face value of the note based on fluctuations in exchange rates and recognized as foreign exchange gain (loss) in the statement of operations of $32,626 and ($33,521) during the twelve months ended December 31, 2013 and 2012, respectively. | ||||||||
On August 1 2013, the Company converted its $48,000 accounts payable balance to Eaton Oil Tools to a note payable. Monthly payments of $4,119 which include interest at the rate of 6% per annum were to be made through August 2014. At May 9, 2014, six payments were past due. |
Convertible_debentures
Convertible debentures | 12 Months Ended | |
Dec. 31, 2013 | ||
Convertible debentures [Text Block] | ' | |
6 | Convertible debentures | |
On August 4, 2009 the Company re-purchased and retired $7.895 million, plus $2.1 million accrued and unpaid interest, of its 8% Secured Debentures held by Dune Energy, Inc. (including release of collateral rights), acquired Dune’s interest in producing wells and certain leasehold rights in the Bayou Couba field, resumed operations of the Bayou Couba field, and settled outstanding issues between the companies, which net to $2.1 million payable to Dune. In exchange, the Company assigned a portion of certain deep rights held by the Company valued at $93,000 and paid Dune $1 million at the closing and issued a note payable of $300,000 payable in six consecutive quarterly payments of $50,000 each, with the first installment due and payable 90 days after resuming operations of the field. The first installment was timely paid. The note payable to Dune of $157,000 was settled for $105,000 on August 13, 2012 and a gain on settlement of debt of $53,000 was recorded in the third quarter of 2012. | ||
On August 13, 2012, the Company entered into a Securities Purchase Agreement with Palo Verde Acquisitions, LLC, pursuant to which the Company sold to Palo Verde (1) a $2,000,000 12% unsecured, convertible Debenture due August 13, 2014 (the "Palo Verde Debenture") and (2) warrants to purchase up to 20,000,000 shares of common stock of the Company at an exercise price of US$0.23 per share and expiring on August 13, 2014 (the "Warrants"). The aggregate consideration paid to the Company by Palo Verde for the Palo Verde Debenture and the Warrants was $2,000,000. | ||
Interest on the outstanding principal amount of the Palo Verde Debenture will accrue at a rate of 12% per annum, and is payable by the Company on a quarterly basis. At the Company's election, interest may be payable by the Company in shares of common stock of the Company in lieu of cash. The entire principal amount of the Palo Verde Debenture is due on August 13, 2014. The Company may not prepay any portion of the principal amount of the Palo Verde Debenture without the prior written consent of Palo Verde. | ||
At any time prior to the payment of the Palo Verde Debenture in full, Palo Verde may elect, in its sole discretion, to convert all or part of the principal amount of the Palo Verde Debenture into shares of common stock of the Company at a conversion rate of US$0.10 per share of common stock. Notwithstanding the foregoing, Palo Verde may not convert any principal amount of the Palo Verde Debenture into common shares of the Company if, following such conversion, Palo Verde and its affiliates would own more than 19.9% of the number of shares of common stock of the Company then outstanding (the "Beneficial Ownership Limitation"), unless approved by the shareholders. The same Beneficial Ownership Limitation applies to the exercise by Palo Verde of any Warrants. The Palo Verde Debenture contains customary adjustment provisions for certain corporate events, such as the payment of stock dividends and stock splits. The Palo Verde Debenture also contains customary events of default. | ||
The Company analyzed the convertible debt and the warrants issued for derivative accounting consideration under ASC 815 “Derivatives and Hedging” and determined that derivative accounting is not applicable. | ||
The Company further analyzed the convertible debt for a beneficial conversion feature under ASC 470-20 on the date of the note and determined that a beneficial conversion feature exists. The intrinsic value of the beneficial conversion feature was determined to be $179,066 and was recorded as a debt discount. | ||
In addition, the relative fair value of the warrants was measured using the Black-Scholes Option Pricing Model (see Note 9). The relative fair value was determined to be $779,066. | ||
The total value of the beneficial conversion feature and the relative fair value of the warrants is $958,131, which was recorded as a debt discount. During the years ended December 31, 2013 and 2012, $451,564 and $124,214 of the debt discount has been amortized. | ||
Effective December 31, 2012, Palo Verde exercised its option under the Palo Verde Purchase Agreement to purchase from the Company (1) an additional $1,000,000 12% convertible debenture due December 31, 2014 (the “$1,000,000 Debenture” and, together with the $2,000,000 Debenture, the “Debentures”), which is convertible into shares of our common stock at a conversion rate of $0.10 per share of common stock, and (2) additional warrants to purchase up to 10,000,000 shares of our common stock at an exercise price of $0.23 per share and expiring on December 31, 2014. As of December 31, 2012, we received aggregate consideration of $500,000 from Palo Verde for the $1,000,000 Debenture and Warrants, with the remaining $500,000 collected in January 2013. | ||
The Company analyzed the convertible debt and the warrants issued for derivative accounting consideration under ASC 815 “Derivatives and Hedging” and determined that derivative accounting is not applicable. | ||
The Company further analyzed the convertible debt for a beneficial conversion feature under ASC 470-20 on the date of the note and determined that a beneficial conversion feature did not exist. | ||
In addition, the relative fair value of the warrants was measured using the Black-Scholes Option Pricing Model (see Note 9). The relative fair value was determined to be $351,651. The relative fair value of the warrants was recorded as a debt discount. During the years ended December 31, 2013 and 2012, $143,989 and $0 of the discount has been amortized. | ||
At any time prior to the payment of such Debenture in full, Palo Verde may elect, in its sole discretion, to convert all or part of the principal amount of such Debenture into shares of our common stock at a conversion rate of $0.10 per share of common stock. Interest on the outstanding principal amount of the Debentures will accrue at a rate of 12% per annum and is payable by us on a quarterly basis. At our election, we may pay interest on the Debentures in shares of our common stock in lieu of cash, with such shares being valued at the average of the weighted average trading price of our common stock for the five trading days immediately preceding the interest payment date. | ||
The entire outstanding principal amount of the $2,000,000 Debenture is due August 13, 2014, and the entire principal amount of the $1,000,000 Debenture is due December 31, 2014. We may not prepay any portion of the principal of the Debentures without the prior written consent of the Palo Verde. |
Equity_transactions
Equity transactions | 12 Months Ended | |
Dec. 31, 2013 | ||
Equity transactions [Text Block] | ' | |
7 | Equity transactions | |
In connection with the financing agreement entered into with TCA Global Credit Master Fund, LP during the first quarter of 2012 the Company paid an Equity Incentive Fee of $150,000 worth of 1,764,706 Restricted Shares of ANEC stock. The shares carry a nine (9) month ratchet whereby either party is obligated to refund (by the Investor) or issue (by the Company) shares to equal the initial value. The relative fair value of the shares of $129,240, in addition to cash fees paid to TCA of $66,200, was recorded as a discount on the note and was fully amortized as of December 31, 2012 (see Note 5). | ||
In connection with the closing of the $1 million first tranche in February 2012, the Company issued finder’s fees consisting of the following: 732,235 shares of common stock of the Corporation, 500,000 warrants to purchase the common stock of the Corporation at an exercise price of $0.10 per share with a contractual term of five years and 96,000 warrants to purchase the common stock of the Corporation at an exercise price of $0.25 per share with a contractual term of five years. The fair values of the shares of $60,776 and the warrants of $50,557 were recorded as deferred financing costs and were fully amortized as of December 31, 2012. The warrants were valued using the Black-Scholes valuation model with the following assumptions: term of 5 years, risk-free interest rate of 0.88%, expected volatility of 279.87% and no expected dividends. | ||
In connection with the closing of the $1 million second tranche in August 2012, the Company issued finder’s fees consisting of the following: 476,190 shares of common stock of the Corporation, 217,391 warrants to purchase the common stock of the Corporation at an exercise price of $0.23 per share with a contractual term of two years. The fair values of the shares of $50,000 and the warrants of $17,489 were recorded as deferred financing costs and are being amortized over the life of the note using the effective interest method. The warrants were valued using the Black-Scholes valuation model with the following assumptions: term of 2 years, risk-free interest rate of 0.25%, expected volatility of 324.72% and no expected dividends. | ||
On February 17, 2012, the Company issued 1.5 million Restricted Shares each to Mike Paulk and Steven Ensz as compensation for personal guarantees provided in connection with various outstanding financings. The fair value of these shares of $249,000 was recorded as stock based compensation expense in the first quarter of 2012. | ||
On June 8, 2012, the Company completed a private placement of 7 million shares of common stock issued at $0.06 per share for a total of $420,000. | ||
In connection with the closing of the $2 million Palo Verde Acquisition LLC convertible debt, the Company issued 20 million warrants (see Note 6). The fair value of the beneficial conversion feature and relative fair value of the warrants totaling $958,131 was recorded as a debt discount and an addition to additional paid-in capital. The warrants were valued using the Black-Scholes valuation model with the following assumptions: term of 2 years, risk-free interest rate of 0.27%, expected volatility of 276.44% and no expected dividends. | ||
In connection with the closing of the $1 million Palo Verde Acquisition LLC convertible debt, the Company issued 10 million warrants (see Note 6). The relative fair value of the warrants of $351,651 was recorded as a debt discount and an addition to additional paid-in capital. The warrants were valued using the Black-Scholes valuation model with the following assumptions: term of 2 years, risk-free interest rate of 0.25%, expected volatility of 275.55% and no expected dividends. | ||
Treasury Stock | ||
During 2013 the Company completed a repurchase of 1,730,706 shares previously issued to TCA Global Credit Master Fund LP as bonus shares in conjunction with the 2012 financing. The shares were repurchased at an agreed price of $150,000 and are being held in treasury. |
Options
Options | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Options [Text Block] | ' | |||||||
8 | Options | |||||||
The Company adopted the 2012 Stock Option Plan (the “Plan”) during the year ended December 31, 2012. For options granted under the plan, the option price shall not be less than the discounted market price, as allowed by the TSX Venture Exchange, on the grant date. The expiration date for each option will be set by the board at the time of issue of the option and cannot be more than 5 years after the grant date. The Plan is a rolling stock option plan meaning the maximum number of shares that may be issued pursuant to options granted under the plan will be limited to 10% of the Company’s outstanding common shares adjusted as any new shares are issued. | ||||||||
The number of shares of Common Stock which may be issuable under the New Plan and all of the Company's other previously established or proposed share compensation arrangements, within a one-year period: | ||||||||
(a) | to any one optionee, shall not exceed 5% of the total number of issued and outstanding shares of Common Stock on the grant date on a non-diluted basis (unless the Company receives disinterested shareholder approval in accordance with the policies of TSXV); | |||||||
(b) | to “Insiders” (As defined in TSXV rules and policies) as a group shall not exceed 10% of the total number of issued and outstanding shares of Common Stock on the grant date on a non-diluted basis; | |||||||
(c) | to any one consultant shall not exceed 2% of the total number of issued and outstanding shares of Common Stock on the grant date on a non-diluted basis; and | |||||||
(d) | to all eligible persons who undertake investor relations activities shall not exceed 2% in the aggregate of the total number of issued and outstanding shares of Common Stock on the grant date on a non-diluted basis. | |||||||
Stock option activity for the years ended December 31, 2013 and 2012 is as follows: | ||||||||
Weighted | ||||||||
Number of | Average | |||||||
Options | Exercise price | |||||||
$ | ||||||||
Outstanding – December 31, 2011 | 2,515,000 | 0.41 | ||||||
Issued | - | - | ||||||
Exercised | - | - | ||||||
Expired | (10,000 | ) | 0.9 | |||||
Outstanding and Exercisable – December 31, 2012 | 2,505,000 | 0.41 | ||||||
Issued | - | - | ||||||
Exercised | - | - | ||||||
Expired | (125,000 | ) | 0.37 | |||||
Outstanding and Exercisable – December 31, 2013 | 2,380,000 | 0.41 | ||||||
At December 31, 2013 and 2012, 2,380,000 and 2,505,000 options have vested and are exercisable at a weighted average exercise price of $0.41 and $0.41, respectively. The weighted average remaining contractual life of options granted at December 31, 2013 and 2012 is 21 months and 33 months, respectively. There is no intrinsic value for the exercisable stock options at December 31, 2013. | ||||||||
On January 1, 2006, the Company adopted ASC 718 which requires companies to measure the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. The fair value of the 2,515,000 stock options granted during 2010 and 2009 totaled $944,617. The stock options granted to employees and directors in 2010 vest at 25% immediately and 12.5% per quarter thereafter and expire five years after the date of grant. | ||||||||
For the year ended December 31, 2012, the Company recognized compensation costs of $148,786 related to stock options granted. At December 31, 2012, all compensation costs related to stock options has been recognized. | ||||||||
The Company utilizes authorized but unissued shares when a stock option is exercised. | ||||||||
The 2001 Stock Incentive Plan, as amended (approved by the shareholders in June 2005), is comprised of a Discretionary Option Grant Program, a Salary Investment Option Grant Program, a Stock Issuance Program, an Automatic Option Grant Program, and a Director Fee Option Grant. The 2001 Stock Incentive Plan terminates upon the earliest of (i) December 14, 2011, (ii) the date on which all shares available for issuance under the plan have been issued as fully-vested shares, or (iii) the termination of all outstanding options in connection with a change in control. This Plan has terminated, however, all outstanding options and unvested stock issuances continue to have force and effect in accordance with the provisions of the documents evidencing such grants or issuances. | ||||||||
No options have been issued pursuant to the 2012 stock option plan. |
Warrants
Warrants | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Warrants [Text Block] | ' | |||||||
9 | Warrants | |||||||
Warrant activity for the years ended December 31, 2013 and 2012 is as follows: | ||||||||
Weighted | ||||||||
Number of | Average | |||||||
warrants | Exercise price | |||||||
$ | ||||||||
Outstanding - December 31, 2011 | - | - | ||||||
Issued | 30,813,391 | 0.23 | ||||||
Exercised | - | - | ||||||
Expired | - | - | ||||||
Outstanding – December 31, 2012 | 30,813,391 | 0.23 | ||||||
Outstanding - December 31, 2013 | 30,813,391 | 0.23 | ||||||
At December 31, 2013 and 2012, 30,813,391warrants have vested and are exercisable at a weighted average exercise price of $0.23. The weighted average remaining contractual life of warrants granted at December 31, 2013 and 2012 is 10 months and 22 months, respectively. There is no intrinsic value for the exercisable warrants at December 31, 2013. | ||||||||
The Company granted a total of 596,000 warrants on February 17, 2012 and 217,391 warrants on September 27, 2012 with exercise prices ranging from of $0.10 to $0.25 as a finders’ fee for the TCA Global Credit Master Fund financing. The warrants vested immediately and expire on the five year and two year anniversary of the grant date respectively. The fair value of the warrants was measured using the Black-Scholes Option Pricing Model and recorded as a deferred financing cost. The fair value of the 596,000 was fully amortized during the year using the effective interest method. The fair value of the 217,391 warrants is being amortized over the life of the debt using the effective interest method. The total deferred financing cost recorded related to these warrants was $68,046. | ||||||||
The Company granted 20,000,000 warrants on August 13, 2012 and 10,000,000 warrants on December 31, 2012 with an exercise price of $0.23 as investor warrants for the convertible debentures issued to Palo Verde. The warrants vested immediately and expire on the two year anniversary of the grant date. The relative fair value of these warrants was recorded as a debt discount and is being amortized over the life of the debts using the effective interest method. |
Commitments_and_contingencies
Commitments and contingencies | 12 Months Ended | |
Dec. 31, 2013 | ||
Commitments and contingencies [Text Block] | ' | |
10 | Commitments and contingencies | |
The Company rents office space under a long-term operating lease that expires December 2014. At December 31, 2013, the future minimum lease payments required under the operating lease amounted to $114,000 which is to be paid in 2014. | ||
Rent expense on all operating leases amounted to approximately $109,000 and $105,000 in 2013 and 2012, respectively. | ||
With respect to the acquisition of the Company’s Bayou Couba lease acreage, the Company agreed that the Class 7 creditors to the ANEC/Couba Reorganization Plan (the “Plan”) would receive a contingent payable from future production of the properties in the amount of approximately $4.9 million plus interest accruing at 8% per annum commencing January 1, 2002, and would receive payment of 100% of their allowed claims out of an overriding royalty interest in the amount of 3% of the production from existing and new wells on the Bayou Couba Lease. In addition, such claims are to be paid out of a net profits interest granted to the creditors whereby such creditors are allocated 50% of the net profits from production from the workover of wells existing on December 31, 2001 on the Bayou Couba Lease, 15% of the net profits from production from the drilling after December 31, 2001 of new wells on the Bayou Couba Lease and 6% of the net profits from production from the drilling after December 31, 2001 of new wells on a 23.5 square mile area of mutual interest, excluding, however, the Bayou Couba Lease. Upon payment of their allowed claims, inclusive of interest, such royalty and net profits interests is eliminated. The Company is accounting for any contingent purchase price payments to the Class 7 creditors as additions to the full cost pool as production occurs. The Company holds 93.4% of the Class 7 claims. | ||
The Company agreed that, after repayment to the Company of 200% of all costs of bankruptcy, drilling, development and field operations from net revenues of the Bayou Couba Lease and the 23.5 square mile area of mutual interest, including payments made by the Company to all creditors of all classes under the plan, the former holders of equity securities of Couba will be entitled to a working interest in the wells in the Bayou Couba Lease equal to 25% of the working interest obtained by the Company directly from Couba at the time of confirmation and as a result of the plan of reorganization of Couba, and a 25% interest in the Company’s interest in the 23.5 square mile area of mutual interest held by the Company on the effective date of the plan. | ||
On January 31, 2005, the Company made application with applicable Canadian authorities to dissolve and terminate Gothic Resources Inc. (“Gothic”). In conjunction with the application for dissolution, the prior tax returns and tax status of Gothic have been reviewed by the Canada Customs and Revenue Agency (“CRA”). The CRA has assessed Gothic $190,000 (Cdn$187,000) in additional taxes and interest based on the review of such returns. Approximately $33,000 remains unpaid at December 31, 2013. | ||
A company has filed suit and made a claim of unpaid royalties which are recorded as liabilities at the balance sheet date in the amount of $3.04 million. To date and through initial discovery in the case the company asserting the claim has not provided proof of ownership. | ||
The Company, as an owner or 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. In some instances, the Company may be directed to suspend or cease operations in the affected area. We maintain insurance coverage, which we believe is customary in the industry, although we are not fully insured against all environmental risks. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | |
Dec. 31, 2013 | ||
Related Party Transactions [Text Block] | ' | |
11 | Related Party Transactions | |
During 2011 the Company entered into a $500,000 unsecured short-term note with interest at the rate of 10% per annum with Mike Paulk, an officer of the Company. All accrued interest is payable monthly and the maturity date of the loan is February 17, 2014. Proceeds from the note were used to pay the outstanding obligation to Bank of Oklahoma and the balance for working capital. The Company paid Mike Paulk $74,444 in principal payments and $38,000 for interest on the loan during 2013. The Company paid Mike Paulk $55,556 in principal payments and $56,000 for interest on the loan during 2012. The Company also received $5,000 during the year ended December 31, 2013. On February 17, 2014 the note was extended to February 17, 2015. | ||
On March 31, 2011, with an effective date of January 1, 2011, the Company purchased the working interests from TPC Energy for $300,000 through the issuance of a note payable in the same amount. Principal payments of $12,500 and interest at the rate of 10% per annum are due monthly. During the effective date through the closing date of March 31, 2011, revenues of $95,662 were recorded as a net purchase price adjustment that lowered the note payable balance to $204,338 and during 2011 cash payments totaling $40,155 were also applied to the note which left a remaining balance due of $164,183. No principal payments were made on this note in 2013 and 2012. On March 31, 2014 the note was extended to March 31, 2015. | ||
During the first quarter of 2012 TPC Energy advanced an additional $250,000 to the Company with repayment of the loan due one year from the date of advancement and with interest payable monthly. The note carries an interest rate of 5.5% per annum. The due date of the note was extended to March 11, 2014 in March 2013. The Company evaluated the extension under FASB ASC 470-50 and determined that the modification was substantial and qualified as a debt extinguishment. In addition to the additional $250,000, the Company assigned 50% of its interest in its share of the Liquidation Agents account distributions to TPC Energy for the life of the note. The rights were valued at $39,619 and were recorded as a discount on the note, which is being amortized over the life of the note using the effective interest method. The TPC note is included in Notes Payable – Related Parties on the balance sheet as of December 31, 2012. The Company paid TPC Energy $24,000 and $31,000 for interest on all the outstanding TPC Energy loans during 2013 and 2012 respectively. On March 11, 2013, the Company extended the due date of the note to March 11, 2014. On March 11, 2014, the Company extended the note to March 11, 2015. On August 13, 2012, the Company entered into a Securities Purchase Agreement with Palo Verde Acquisitions, LLC, pursuant to which the Company sold to Palo Verde (1) a $2,000,000 12% unsecured, convertible Debenture due August 13, 2014 (the "Palo Verde Debenture") and (2) warrants to purchase up to 20,000,000 shares of common stock of the Company at an exercise price of US$0.23 per share and expiring on August 13, 2014 (the "Warrants"). The aggregate consideration paid to the Company by Palo Verde for the Palo Verde Debenture and the Warrants was $2,000,000. | ||
Effective December 31, 2012, Palo Verde exercised its option under the Palo Verde Purchase Agreement to purchase from the Company (1) an additional $1,000,000 12% convertible debenture due December 31, 2014 (the “$1,000,000 Debenture” and, together with the $2,000,000 Debenture, the “Debentures”), which is convertible into shares of our common stock at a conversion rate of $0.10 per share of common stock, and (2) additional warrants to purchase up to 10,000,000 shares of our common stock at an exercise price of $0.23 per share and expiring on December 31, 2014. As of December 31, 2012, we received aggregate consideration of $500,000 from Palo Verde for the $1,000,000 Debenture and Warrants, with the remaining $500,000 collected in January 2013. |
Income_taxes
Income taxes | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Income taxes [Text Block] | ' | |||||||
12 | Income taxes | |||||||
The tax effects of temporary differences between the tax bases of assets and liabilities and their financial reporting amounts and the tax credits and other items that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2013 and 2012 are presented below: | ||||||||
2013 | 2012 | |||||||
$ | $ | |||||||
Deferred tax assets | ||||||||
Asset retirement costs | 822,032 | 908,143 | ||||||
Foreign exchange loss | 981,065 | 981,065 | ||||||
Acquisition, exploration and development costs and related depreciation, depletion and amortization | 1,416,946 | 846,965 | ||||||
Contribution carryovers | 6,768 | 6,655 | ||||||
Change in accounting principle | 123,894 | 123,894 | ||||||
Net operating loss carryforwards | 6,253,937 | 5,233,369 | ||||||
Deferred tax asset | 9,604,642 | 8,100,092 | ||||||
Less: Valuation allowance | (9,604,642 | ) | (8,100,092 | ) | ||||
Total deferred tax asset (liability) | - | - | ||||||
The provision for income taxes is different than the amounts computed using the applicable statutory federal income tax rate. The differences for the years ended December 31, 2013 and 2012 are summarized as follows: | ||||||||
2013 | 2012 | |||||||
$ | $ | |||||||
Federal tax benefit at statutory rate | 1,069,816 | 1,128,277 | ||||||
State taxes, net of federal taxes | 157,179 | (3,655 | ) | |||||
Other | (170,262 | ) | (107,457 | ) | ||||
Less: valuation allowance | (1,056,733 | ) | (1,017,165 | ) | ||||
Total provision for income taxes | - | - | ||||||
As of December 31, 2013, the Company has a net operating loss carry-forward benefit of approximately $18.1 million which is available to reduce future taxable income, if any, through 2032. Management has determined that it is more likely than not that the benefit of the deferred tax asset will not be realized and thus has provided a 100% valuation allowance against the deferred tax asset. If certain substantial changes in the Company's ownership should occur, there would be an annual limitation on the amount of the carry-forward which can be utilized. |
Subsequent_Event
Subsequent Event | 12 Months Ended | |
Dec. 31, 2013 | ||
Subsequent Event [Text Block] | ' | |
13 | Subsequent Events | |
On January 29, 2014, the Company entered into the Sixth Amendment to the Securities Purchase Agreement with TCA Global Credit Master Fund LP. The amendment provides for interest only payments pursuant to existing amended and restated debenture for the month of December 2013, that all previous outstanding principal and accrued and unpaid interest, an accommodation fee $200,000 for entering into this sixth Amendment and all outstanding Redemption Premium fees will comprise the agree upon outstanding amount of $2,196,609. Principal and interest in the amount of $371,459 is due monthly, inclusive of all fees and redemption amounts. Principal payments of $100,000 each for the months of March, April and May 2014 along with accrued interest have been made. | ||
On February 17, 2014, the Company extended the note payable with Mike Paulk and Steven Ensz, directors of the Company until February 17, 2015. There were no other changes to terms of the note. | ||
On February 28, 2014, the Company extended the maturity date of the note with the Citizens Bank of Oklahoma to December 31, 2014. The extension includes interest at 12% with monthly payments of $7,798. | ||
On March 11, 2014, the Company extended the maturity date of the note with TPC Energy in the amount of $250,000 until March 11, 2015. There were no other changes to the terms of the note. | ||
On March 31, 2014, the Company extended the maturity of the note with TPC Energy in the amount of $164,183 until March 31, 2015. There were no other changes to the terms of the note. | ||
On April 14, 2014 the Company entered into a loan agreement with a private party providing for an advance of $250,000 to be used for working capital purposes. The loan is payable upon the earlier of a re-financing of the Company’s secured debt or August 14, 2014 in the amount of $268,000 plus interest at a rate of 12% per annum. The private investor is also to receive 250,000 shares of Company common stock |
Disclosures_About_Oil_and_Gas_
Disclosures About Oil and Gas Producing Activities (Unaudited) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosures About Oil and Gas Producing Activities (Unaudited) [Text Block] | ' | |||||||||||||
14 | Disclosures About Oil and Gas Producing Activities (Unaudited) | |||||||||||||
Net Capitalized Costs | ||||||||||||||
The following summarizes net capitalized costs as of December 31, 2013 and 2012. | ||||||||||||||
2013 | 2012 | |||||||||||||
$ | $ | |||||||||||||
Oil and gas properties | ||||||||||||||
Proved | 41,253,526 | 41,433,095 | ||||||||||||
Unproved | 724,266 | 661,641 | ||||||||||||
Total | 41,977,792 | 42,094,736 | ||||||||||||
Less accumulated depreciation, depletion and amortization and impairment | (22,989,672 | ) | (22,090,310 | ) | ||||||||||
Net capitalized costs | 18,988,120 | 20,004,426 | ||||||||||||
Unproved Property Costs | ||||||||||||||
The following summarizes the capitalized unproved property costs excluded from amortization as of December 31, 2013 and 2012. All costs represent investment in unproved property in Louisiana and will be evaluated over several years as the properties are explored. | ||||||||||||||
2013 | 2012 | Prior Years | Total | |||||||||||
$ | $ | $ | $ | |||||||||||
Property acquisition costs | 62,625 | 89,845 | (857,414 | ) | (704,944 | ) | ||||||||
Capitalized interest | - | - | 1,429,210 | 1,429,210 | ||||||||||
62,625 | 89,845 | 571,796 | 724,266 | |||||||||||
Costs Incurred in Oil and Gas Acquisition, Exploration and Development | ||||||||||||||
2013 | 2012 | |||||||||||||
$ | $ | |||||||||||||
Development costs | 174,276 | 4,081,325 | ||||||||||||
Exploration costs | - | - | ||||||||||||
Acquisition costs | ||||||||||||||
Proved | - | - | ||||||||||||
Unproved | - | - | ||||||||||||
174,276 | 4,081,325 | |||||||||||||
Results of Operations from Oil and Gas Producing Activities | ||||||||||||||
The Company’s results of operations from oil and gas producing activities are presented below for the years 2013 and 2012. The following table includes revenues and expenses associated directly with the Company’s oil and gas producing activities. It does not include any general and administrative costs or any interest costs. | ||||||||||||||
2013 | 2012 | |||||||||||||
$ | $ | |||||||||||||
Oil and gas sales | 3,269,758 | 2,043,489 | ||||||||||||
Operations income | 51,912 | 50,044 | ||||||||||||
Lease operating expenses | (894,546 | ) | (1,003,802 | ) | ||||||||||
Production taxes | (323,326 | ) | (112,214 | ) | ||||||||||
Depreciation, depletion, accretion and | ||||||||||||||
amortization | (1,159,978 | ) | (748,637 | ) | ||||||||||
Results of operations from oil and gas activities, excluding corporate overhead and interest costs | 943,820 | 228,880 | ||||||||||||
Oil and Gas Reserve Quantities (unaudited) | ||||||||||||||
The reserve information presented below is based on reports prepared by independent petroleum engineers Collarini Associates. | ||||||||||||||
The information is presented in accordance with regulations prescribed by the Securities and Exchange Commission. Reserve estimates are inherently imprecise. These estimates were generally based upon extrapolation of historical production trends, analogy to similar properties and volumetric calculations. Accordingly, these estimates are expected to change, and such change could be material and occur in the near term as future information becomes available. | ||||||||||||||
Proved oil and gas reserves represent the estimated quantities of crude oil, natural gas and natural gas liquids which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under current economic and operating conditions. Proved developed oil and gas reserves are those expected to be recovered through existing equipment and operating methods. All of the Company’s oil and natural gas producing activities are located in the United States of America. | ||||||||||||||
31-Dec-13 | ||||||||||||||
Oil | Gas | Total | ||||||||||||
(Mbbl) | (Mmcf) | (Mbble) | ||||||||||||
Proved reserves, beginning of period | 724.2 | 2,775.90 | 1,186.85 | |||||||||||
Extensions, discoveries and other additions | 21 | 40.8 | 27.8 | |||||||||||
Revisions of previous estimates | (232.95 | ) | (444.57 | ) | (307.05 | ) | ||||||||
Production | (30.25 | ) | (2.13 | ) | (30.61 | ) | ||||||||
Sale of reserves in place | - | - | - | |||||||||||
Purchase of reserves in place | - | - | - | |||||||||||
Proved reserves, end of period | 482 | 2,370.00 | 877 | |||||||||||
Proved developed reserves: | ||||||||||||||
Beginning of period | 178 | 20.4 | 181.4 | |||||||||||
End of period | 113 | 2 | 113.3 | |||||||||||
31-Dec-12 | ||||||||||||||
Oil | Gas | Total | ||||||||||||
(Mbbl) | (Mmcf) | (Mbble) | ||||||||||||
Proved reserves, beginning of period | 2,013.90 | 315.9 | 2,066.55 | |||||||||||
Extensions, discoveries and other additions | 28.2 | 14.1 | 30.55 | |||||||||||
Revisions of previous estimates | (1,298.92 | ) | 2,449.68 | (890.64 | ) | |||||||||
Production | (18.98 | ) | (3.78 | ) | (19.61 | ) | ||||||||
Sale of reserves in place | - | - | - | |||||||||||
Purchase of reserves in place | - | - | - | |||||||||||
Proved reserves, end of period | 724.2 | 2,775.90 | 1,186.85 | |||||||||||
Proved developed reserves: | ||||||||||||||
Beginning of period | 82.47 | - | 82.47 | |||||||||||
End of period | 178 | 20.4 | 181.4 | |||||||||||
The Company recognized revisions in the years ended December 31, 2013 and December 31, 2012. The revisions of (307.05) Mbble in 2013 and (890.64)Mbble in 2012 were due to both quantity and price revisions. | ||||||||||||||
Standardized Measure of Discounted Future Net Cash Flows (unaudited) | ||||||||||||||
FASB ASC 932, Disclosures About Oil and Gas Producing Activities, (“ASC 932”) prescribes guidelines for computing the standardized measure of future net cash flows and changes therein relating to estimated proved reserves. The Company has followed these guidelines which are briefly discussed below. | ||||||||||||||
Future cash inflows from oil and gas reserves use the unweighted arithmetic average of the price on the first day of each month within the 12 -month period prior to the end of the reporting period adjusted by differentials to account for product quality, transportation and marketing. Future production and development costs are determined by applying year-end prices and costs to the estimated quantities of oil and gas to be produced. The prices used at December 31, 2013 and December 31, 2012 were $107.96 and $105.76 per barrel for oil, respectively and $3.67 and $2.76 per mcf for gas at December 31, 2013 and 2012 respectively. Estimates are made of quantities of proved reserves and the future periods during which they are expected to be produced based on year-end economic conditions. Estimated future income taxes are computed using current statutory income tax rates including consideration for current tax basis of properties and related carryforwards, giving effect to permanent differences and tax credits. The resulting future net cash flows are reduced to present value amounts by applying a 10% annual discount factor. | ||||||||||||||
The assumptions used to compute the standardized measure are those prescribed by the Financial Accounting Standards Board and, as such, do not necessarily reflect our expectations of actual revenue to be derived from those reserves nor their present worth. The limitations inherent in the reserve quantity estimation process, as discussed previously, are equally applicable to the standardized measure computations since these estimates are the basis for the valuation process. | ||||||||||||||
The following sets forth our future net cash flows relating to proved oil and gas reserves based on the standardized measure prescribed in ASC 932: | ||||||||||||||
December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
$ | $ | |||||||||||||
Future cash inflows | 60,432,000 | 84,254,900 | ||||||||||||
Future development costs | (7,799,000 | ) | (14,101,100 | ) | ||||||||||
Future production costs | (11,500,000 | ) | (17,152,700 | ) | ||||||||||
Net future cash flows | 41,133,000 | 53,001,100 | ||||||||||||
Less effect of a 10% discount factor | (9,514,000 | ) | (12,878,000 | ) | ||||||||||
Standardized measure of discounted future net cash flows | 31,619,000 | 40,123,100 | ||||||||||||
The principal sources of change in the standardized measure of discounted future net cash flows are as follows: | ||||||||||||||
December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
$ | $ | |||||||||||||
Standardized measure, beginning of period | 40,123,100 | 74,221,682 | ||||||||||||
Sales of oil and gas produced, net of production costs | (2,051,886 | ) | (914,276 | ) | ||||||||||
Development costs incurred | 174,276 | 4,081,325 | ||||||||||||
Changes in future development costs | 7,067,392 | (1,075,402 | ) | |||||||||||
Revisions of previous quantity estimates | (12,941,834 | ) | (30,621,872 | ) | ||||||||||
Net change due to extensions and discoveries | 984,400 | 721,800 | ||||||||||||
Net change in prices and production costs | (417,065 | ) | (13,387,649 | ) | ||||||||||
Changes in production rate | (2,329,326 | ) | 4,496,298 | |||||||||||
Purchases of properties | - | - | ||||||||||||
Accretion of discount | 2,884,668 | 5,716,386 | ||||||||||||
Other | (1,874,725 | ) | (3,115,192 | ) | ||||||||||
Standardized measure, end of period | 31,619,000 | 40,123,100 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Description of company [Policy Text Block] | ' | ||
Description of company | |||
American Natural Energy Corporation (“ANEC”) is an oil and natural gas exploration and production company engaged in the acquisition, exploration and development of oil and natural gas properties for the production of crude oil and natural gas. ANEC’s properties are located in Louisiana. | |||
ANEC, an Oklahoma corporation, was formed by amalgamation on July 9, 1991 under the Company Act (British Columbia) and was continued under the Canada Business Corporations Act on August 1, 1991. On January 22, 2002, Gothic Resources Inc. (“Gothic”) completed a plan of arrangement under Section 192 of the Canada Business Corporations Act with ANEC which was at the time a wholly-owned subsidiary of Gothic, whereby all of the shareholders of Gothic exchanged their common shares in the capital of Gothic for common shares in the capital of ANEC, Gothic became a wholly owned subsidiary of ANEC and the former shareholders of Gothic became shareholders of ANEC. The plan of arrangement became effective February 8, 2002. The shares of Gothic are no longer listed on the Toronto Venture Exchange, Inc. and in their place, the shares of ANEC are listed on that exchange, quoted and traded in U.S. dollars under the symbol ANR.U. Also on that date, the shareholders approved the reduction of the stated capital of Gothic by the amount of the accumulated deficit of $2,015,495. This transaction has been accounted for as a quasi-reorganization. Gothic may be deemed a predecessor of the Company. | |||
Consolidation [Policy Text Block] | ' | ||
Consolidation | |||
The consolidated financial statements include the accounts of ANEC and its wholly-owned subsidiary Gothic (collectively, the “Company”). All significant intercompany accounts and transactions are eliminated in consolidation. | |||
The consolidated financial statements contained herein have been prepared in accordance with accounting principles generally accepted in the United States of America, which differ in certain respects from accounting principles generally accepted in Canada. | |||
Cash and cash equivalents [Policy Text Block] | ' | ||
Cash and cash equivalents | |||
Cash and cash equivalents consist of short-term, highly liquid investments with maturities of 90 days or less at the time of acquisition. Cash and cash equivalents are deposited with three institutions and the balance at either institution does not exceed the federally insured limits at December 31, 2013 and 2012. While balances may periodically exceed the federal depository insurance limit, the Company has not experienced any losses on deposits. | |||
Allowance for Doubtful Accounts [Policy Text Block] | ' | ||
Allowance for Doubtful Accounts | |||
The Company establishes provisions for losses on accounts receivable if it determines that it will not collect all or part of the outstanding balance. The Company regularly reviews collectability and establishes or adjusts the allowance as necessary using the specific identification method. There is no significant allowance for doubtful accounts as of December 31, 2013 or 2012. | |||
Oil and natural gas properties [Policy Text Block] | ' | ||
Oil and natural gas properties | |||
The Company follows the full cost method of accounting for oil and natural gas properties. The Company defers the costs of exploring for and developing oil and natural gas reserves until such time as proved reserves are attributed to the properties. At that time, the deferred costs are amortized on a unit-of-production basis. Such costs include land acquisition costs, geological and geophysical costs, costs of drilling wells, asset retirement costs, interest costs on major development projects and overhead charges directly related to acquisition, exploration and development activities. | |||
The net book value of all capitalized oil and natural gas properties within a cost center, less related deferred income taxes, is subject to a full cost ceiling limitation which is calculated quarterly. Under the ceiling limitation, costs may not exceed an aggregate of the present value of future net revenues attributable to proved oil and natural gas reserves discounted at 10 percent using current prices, plus the lower of cost or market value of unproved properties included in the amortization base, plus the cost of unevaluated properties, less any associated tax effects. Any excess of the net book value, less related deferred tax benefits, over the ceiling is written off as expense. Impairment expense recorded in one period may not be reversed in a subsequent period even though higher oil and gas prices may have increased the ceiling applicable to the subsequent period. Based on the results of the ceiling limitation test, no impairment was recorded in the years ended December 31, 2013 and 2012. | |||
In certain instances, the Company may capitalize interest on the cost of unevaluated oil and natural gas properties excluded from amortization, based on the Company's weighted average cost of borrowings used to finance the expenditures. For the years ended December 31, 2013 and 2012, the Company did not capitalize any interest to its unevaluated properties. | |||
Unevaluated oil and natural gas properties are reviewed on an annual basis for impairment. | |||
Proceeds from the sale of properties are accounted for as reductions of capitalized costs unless such sales involve a significant change in the relationship between costs and the value of proved reserves or the underlying value of unproved properties, in which case a gain or loss is recognized. | |||
The Company is in the process of exploring its unproved oil and natural gas properties and has not yet determined whether these properties contain reserves that are economically recoverable. The recoverability of amounts shown for oil and natural gas properties is dependent upon the discovery of economically recoverable reserves, confirmation of the Company’s interest in the underlying oil and gas leases, the ability of the Company to obtain necessary financing to complete their exploration and development and future profitable production or sufficient proceeds from the disposition thereof. The Company is, therefore, unable to estimate when these costs will be included in the amortization computation. | |||
Equipment and other fixed assets [Policy Text Block] | ' | ||
Equipment and other fixed assets | |||
Equipment and other fixed assets are stated at cost less accumulated depreciation. Depreciation expense is determined using a straight-line method over the estimated useful lives of the assets. The ranges of estimated useful lives for financial reporting are as follows: | |||
Computer equipment | 3 | years | |
Office furniture and equipment | 7-May | years | |
Leasehold improvements | 1 | year | |
Barges and field equipment | 10-May | years | |
Gas gathering and production facility | 10 | years | |
When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is reflected in income for the period. Maintenance and repairs are charged to expense as incurred. | |||
Foreign exchange and currency translation [Policy Text Block] | ' | ||
Foreign exchange and currency translation | |||
The Company's functional and reporting currency is the U.S. dollar. Transactions denominated in foreign currencies are translated into U.S. dollars at exchange rates in effect on the date of the transactions. Exchange gains or losses on transactions are included in earnings. For Gothic, whose functional currency is the Canadian dollar, the results of operations are translated from local currencies into U.S. dollars using average exchange rates during each period; assets and liabilities are translated using exchange rates at the end of each period. Adjustments resulting from the translation process are reported in a separate component of other comprehensive income and are not included in the determination of the results of operations. | |||
Revenue recognition [Policy Text Block] | ' | ||
Revenue recognition | |||
Revenues from the sale of oil produced are recognized upon the passage of title, net of royalties and net profits interests. Revenues from natural gas production are recorded using the sales method, net of royalties and net profits interests, which may result in more or less than the Company's share of pro-rata production from certain wells. When natural gas sales volumes exceed the Company's entitled share and the overproduced balance exceeds the Company's share of the remaining estimated proved natural gas reserves for a given property, the Company will record a liability. Imbalances at December 31, 2013 and 2012 were insignificant. The Company's policy is to expense the pro-rata share of lease operating costs from all wells as incurred. | |||
The Company’s oil production is sold under market sensitive or spot price contracts. Oil sales to Sunoco, Inc (formerly Texon L.P.) of $3,260,958 and $2,034,070 in 2013 and 2012, respectively, accounted for 99% total oil and gas sales for both years. The Company’s accounts receivable are primarily due from exploration and production companies which own an interest in the properties the Company operates and from purchasers of oil and natural gas. The industry concentration has the potential to impact the Company’s exposure to credit risk because such companies may be similarly affected by changes in economic and industry conditions. | |||
Operations income represents charges billed to non-operator working interest owners who own a working interest in the wells in which the Company serves as operator. The income is recognized in the month in which oil and gas is produced. | |||
Asset retirement obligations [Policy Text Block] | ' | ||
Asset retirement obligations | |||
Effective January 1, 2003, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 410-20, Accounting for Asset Retirement Obligations . This statement applies to obligations associated with the retirement of tangible long-lived assets that result from the acquisition, construction and development of the assets. ASC 410-20 requires that the fair value of a liability for a retirement obligation be recognized in the period in which the liability is incurred. For oil and gas properties, this is the period in which an oil or gas well is acquired or drilled. The asset retirement obligation is capitalized as part of the carrying amount of our oil and gas properties at its discounted fair value. The liability is then accreted each period until the liability is settled or the well is sold, at which time the liability is reversed. | |||
Income taxes [Policy Text Block] | ' | ||
Income taxes | |||
The Company accounts for income taxes under FASB ASC 740, Accounting for Income Taxes. Deferred tax assets and liabilities are determined based on the differences between the tax bases of assets and liabilities and those reported in the consolidated financial statements. The deferred tax assets or liabilities are calculated using the enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are recognized to the extent that they are considered more likely than not to be realized. Income taxes and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or income tax returns. | |||
Use of estimates [Policy Text Block] | ' | ||
Use of estimates | |||
The preparation of consolidated financial statements in conformity with generally accepted accounting principles 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 consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant areas requiring the use of estimates are assessing the recoverability of capitalized oil and natural gas property costs, oil and gas reserve estimates, asset retirement obligations and recoverability of deferred tax assets. Actual results could differ from those estimates. | |||
Earnings (loss) per share [Policy Text Block] | ' | ||
Earnings (loss) per share | |||
Basic earnings (loss) per share are computed by dividing net income or loss (the numerator) by the weighted average number of shares outstanding during the period (the denominator). The computation of diluted earnings per share is the same as for basic earnings per share except the denominator is increased to include the weighted average additional number of shares that would have been outstanding if previously granted stock options had been exercised, unless they are anti-dilutive. | |||
Comprehensive income (loss) [Policy Text Block] | ' | ||
Comprehensive income (loss) | |||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to report net income (loss) as a component of comprehensive income (loss) in the consolidated financial statements. Comprehensive income (loss) is defined as the change in equity of a business enterprise arising from non-owner sources. The Company had other comprehensive income of $0 and $284,235 for 2013 and 2012 respectively as a result of foreign exchange translation gains and losses. As of December 31, 2013 and 2012, accumulated other comprehensive income (loss) was composed solely of foreign currency translation gains and losses. | |||
Stock-based compensation [Policy Text Block] | ' | ||
Stock-based compensation | |||
During 2012, the Company recognized compensation costs of $148,786 related to stock options issued November 30, 2010 and September 8, 2009. On February 17, 2012, the Company issued 1.5 million Restricted Shares each to Mike Paulk and Steven Ensz as compensation for personal guarantees provided in connection with various outstanding financings. The fair value of these shares of $249,000 was recorded as stock based compensation expense in the first quarter of 2012. No compensation costs were recognized by the Company during 2013. | |||
At December 31, 2013, there were 2,380,000 options outstanding and exercisable with a weighted average exercise price of $0.41. The weighted average remaining contractual term for these options at December 31, 2013 was 1.75 years. These options had no intrinsic value at December 31, 2013. | |||
New pronouncements [Policy Text Block] | ' | ||
New pronouncements | |||
No new accounting pronouncements had a material impact on the financial statements. | |||
Reclassification of Prior Period Statements [Policy Text Block] | ' | ||
Reclassification of Prior Period Statements | |||
Certain reclassifications of prior period consolidated financial statements balances have been made to conform to current reporting practices. |
Basis_of_presentation_and_summ1
Basis of presentation and summary of significant accounting policies (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Schedule of estimated useful lives for equipment and other fixed assets [Table Text Block] | ' | ||
Computer equipment | 3 | years | |
Office furniture and equipment | 7-May | years | |
Leasehold improvements | 1 | year | |
Barges and field equipment | 10-May | years | |
Gas gathering and production facility | 10 | years |
Equipment_and_other_fixed_asse1
Equipment and other fixed assets (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Schedule of equipment and other fixed assets [Table Text Block] | ' | |||||||
2013 | 2012 | |||||||
$ | $ | |||||||
Computer, office furniture and equipment | 163,060 | 163,060 | ||||||
Leasehold improvements | 5,520 | 5,520 | ||||||
Barges and field equipment | 802,014 | 802,014 | ||||||
Gas gathering and production facility expansion | 207,637 | 207,637 | ||||||
1,178,231 | 1,178,231 | |||||||
Less: Accumulated depreciation | (1,172,907 | ) | (1,154,600 | ) | ||||
5,324 | 23,631 |
Asset_retirement_obligations_T
Asset retirement obligations (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Schedule of Change in Asset Retirement Obligation [Table Text Block] | ' | |||||||
For the years ended December 31, | ||||||||
2013 | 2012 | |||||||
$ | $ | |||||||
Asset retirement obligations, January 1 | 2,392,369 | 2,208,867 | ||||||
Additions and revisions | (370,566 | ) | - | |||||
Settlements and disposals | (116,898 | ) | - | |||||
Accretion expense | 260,616 | 183,502 | ||||||
Asset retirement obligations, December 31 | 2,165,521 | 2,392,369 |
Notes_payable_and_longterm_deb1
Notes payable and long-term debt (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Schedule Of Notes Payable And Long-term Debt [Table Text Block] | ' | |||||||
31-Dec-13 | 31-Dec-12 | |||||||
$ | $ | |||||||
Note payable – Citizens Bank of Oklahoma | 65,921 | 195,921 | ||||||
Note payable – Eaton Oil Tools | 40,075 | - | ||||||
Note payable – TCA Global Credit Master Fund | 2,096,610 | 1,608,974 | ||||||
Discount on TCA Global Credit Master Fund note | (256,023 | ) | (186,791 | ) | ||||
Note payable – Leede Financial | 373,940 | 406,567 | ||||||
Total third-party notes payable and long-term debt | 2,320,523 | 2,024,671 | ||||||
Debenture payable – Palo Verde (Note 6) | 3,000,000 | 2,500,000 | ||||||
Discount on Palo Verde debt | (590,015 | ) | (1,185,568 | ) | ||||
Note payable – TPC Energy | 414,183 | 414,183 | ||||||
Discount on TPC Energy Note | - | (9,994 | ) | |||||
Note payable – Mike Paulk | 375,000 | 444,444 | ||||||
Note payable - Other | 21,728 | 21,728 | ||||||
Total related party notes payable and long-term debt | 3,220,896 | 2,184,793 | ||||||
Total notes payable and long-term debt | 5,541,419 | 4,209,464 | ||||||
Less: Current portion | (5,541,419 | ) | (2,655,025 | ) | ||||
Total notes payable and long-term debt, net of current portion | - | 1,554,439 |
Options_Tables
Options (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Schedule of Stock option activity [Table Text Block] | ' | |||||||
Weighted | ||||||||
Number of | Average | |||||||
Options | Exercise price | |||||||
$ | ||||||||
Outstanding – December 31, 2011 | 2,515,000 | 0.41 | ||||||
Issued | - | - | ||||||
Exercised | - | - | ||||||
Expired | (10,000 | ) | 0.9 | |||||
Outstanding and Exercisable – December 31, 2012 | 2,505,000 | 0.41 | ||||||
Issued | - | - | ||||||
Exercised | - | - | ||||||
Expired | (125,000 | ) | 0.37 | |||||
Outstanding and Exercisable – December 31, 2013 | 2,380,000 | 0.41 |
Warrants_Tables
Warrants (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Schedule of Warrant activity [Table Text Block] | ' | |||||||
Weighted | ||||||||
Number of | Average | |||||||
warrants | Exercise price | |||||||
$ | ||||||||
Outstanding - December 31, 2011 | - | - | ||||||
Issued | 30,813,391 | 0.23 | ||||||
Exercised | - | - | ||||||
Expired | - | - | ||||||
Outstanding – December 31, 2012 | 30,813,391 | 0.23 | ||||||
Outstanding - December 31, 2013 | 30,813,391 | 0.23 |
Income_taxes_Tables
Income taxes (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||
2013 | 2012 | |||||||
$ | $ | |||||||
Deferred tax assets | ||||||||
Asset retirement costs | 822,032 | 908,143 | ||||||
Foreign exchange loss | 981,065 | 981,065 | ||||||
Acquisition, exploration and development costs and related depreciation, depletion and amortization | 1,416,946 | 846,965 | ||||||
Contribution carryovers | 6,768 | 6,655 | ||||||
Change in accounting principle | 123,894 | 123,894 | ||||||
Net operating loss carryforwards | 6,253,937 | 5,233,369 | ||||||
Deferred tax asset | 9,604,642 | 8,100,092 | ||||||
Less: Valuation allowance | (9,604,642 | ) | (8,100,092 | ) | ||||
Total deferred tax asset (liability) | - | - | ||||||
Schedule of provision for income taxes [Table Text Block] | ' | |||||||
2013 | 2012 | |||||||
$ | $ | |||||||
Federal tax benefit at statutory rate | 1,069,816 | 1,128,277 | ||||||
State taxes, net of federal taxes | 157,179 | (3,655 | ) | |||||
Other | (170,262 | ) | (107,457 | ) | ||||
Less: valuation allowance | (1,056,733 | ) | (1,017,165 | ) | ||||
Total provision for income taxes | - | - |
Disclosures_About_Oil_and_Gas_1
Disclosures About Oil and Gas Producing Activities (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Schedule of Net Capitalized Costs [Table Text Block] | ' | ' | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
$ | $ | ||||||||||||||||||||||||
Oil and gas properties | |||||||||||||||||||||||||
Proved | 41,253,526 | 41,433,095 | |||||||||||||||||||||||
Unproved | 724,266 | 661,641 | |||||||||||||||||||||||
Total | 41,977,792 | 42,094,736 | |||||||||||||||||||||||
Less accumulated depreciation, depletion and amortization and impairment | (22,989,672 | ) | (22,090,310 | ) | |||||||||||||||||||||
Net capitalized costs | 18,988,120 | 20,004,426 | |||||||||||||||||||||||
Schedule of Unproved Property Costs [Table Text Block] | ' | ' | |||||||||||||||||||||||
2013 | 2012 | Prior Years | Total | ||||||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||||||
Property acquisition costs | 62,625 | 89,845 | (857,414 | ) | (704,944 | ) | |||||||||||||||||||
Capitalized interest | - | - | 1,429,210 | 1,429,210 | |||||||||||||||||||||
62,625 | 89,845 | 571,796 | 724,266 | ||||||||||||||||||||||
Schedule of Costs Incurred in Oil and Gas Acquisition, Exploration and Development [Table Text Block] | ' | ' | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
$ | $ | ||||||||||||||||||||||||
Development costs | 174,276 | 4,081,325 | |||||||||||||||||||||||
Exploration costs | - | - | |||||||||||||||||||||||
Acquisition costs | |||||||||||||||||||||||||
Proved | - | - | |||||||||||||||||||||||
Unproved | - | - | |||||||||||||||||||||||
174,276 | 4,081,325 | ||||||||||||||||||||||||
Schedule of Results of Operations from Oil and Gas Producing Activities [Table Text Block] | ' | ' | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
$ | $ | ||||||||||||||||||||||||
Oil and gas sales | 3,269,758 | 2,043,489 | |||||||||||||||||||||||
Operations income | 51,912 | 50,044 | |||||||||||||||||||||||
Lease operating expenses | (894,546 | ) | (1,003,802 | ) | |||||||||||||||||||||
Production taxes | (323,326 | ) | (112,214 | ) | |||||||||||||||||||||
Depreciation, depletion, accretion and | |||||||||||||||||||||||||
amortization | (1,159,978 | ) | (748,637 | ) | |||||||||||||||||||||
Results of operations from oil and gas activities, excluding corporate overhead and interest costs | 943,820 | 228,880 | |||||||||||||||||||||||
Schedule of Oil and Gas Reserve Quantities [Table Text Block] | ' | ' | |||||||||||||||||||||||
Oil | Gas | Total | Oil | Gas | Total | ||||||||||||||||||||
(Mbbl) | (Mmcf) | (Mbble) | (Mbbl) | (Mmcf) | (Mbble) | ||||||||||||||||||||
Proved reserves, beginning of period | 724.2 | 2,775.90 | 1,186.85 | Proved reserves, beginning of period | 2,013.90 | 315.9 | 2,066.55 | ||||||||||||||||||
Extensions, discoveries and other additions | 21 | 40.8 | 27.8 | Extensions, discoveries and other additions | 28.2 | 14.1 | 30.55 | ||||||||||||||||||
Revisions of previous estimates | (232.95 | ) | (444.57 | ) | (307.05 | ) | Revisions of previous estimates | (1,298.92 | ) | 2,449.68 | (890.64 | ) | |||||||||||||
Production | (30.25 | ) | (2.13 | ) | (30.61 | ) | Production | (18.98 | ) | (3.78 | ) | (19.61 | ) | ||||||||||||
Sale of reserves in place | - | - | - | Sale of reserves in place | - | - | - | ||||||||||||||||||
Purchase of reserves in place | - | - | - | Purchase of reserves in place | - | - | - | ||||||||||||||||||
Proved reserves, end of period | 482 | 2,370.00 | 877 | Proved reserves, end of period | 724.2 | 2,775.90 | 1,186.85 | ||||||||||||||||||
Proved developed reserves: | Proved developed reserves: | ||||||||||||||||||||||||
Beginning of period | 178 | 20.4 | 181.4 | Beginning of period | 82.47 | - | 82.47 | ||||||||||||||||||
End of period | 113 | 2 | 113.3 | End of period | 178 | 20.4 | 181.4 | ||||||||||||||||||
Schedule of future net cash flows relating to proved oil and gas reserves based on the standardized measure [Table Text Block] | ' | ' | |||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
$ | $ | ||||||||||||||||||||||||
Future cash inflows | 60,432,000 | 84,254,900 | |||||||||||||||||||||||
Future development costs | (7,799,000 | ) | (14,101,100 | ) | |||||||||||||||||||||
Future production costs | (11,500,000 | ) | (17,152,700 | ) | |||||||||||||||||||||
Net future cash flows | 41,133,000 | 53,001,100 | |||||||||||||||||||||||
Less effect of a 10% discount factor | (9,514,000 | ) | (12,878,000 | ) | |||||||||||||||||||||
Standardized measure of discounted future net cash flows | 31,619,000 | 40,123,100 | |||||||||||||||||||||||
Schedule of change in the standardized measure of discounted future net cash flows [Table Text Block] | ' | ' | |||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
$ | $ | ||||||||||||||||||||||||
Standardized measure, beginning of period | 40,123,100 | 74,221,682 | |||||||||||||||||||||||
Sales of oil and gas produced, net of production costs | (2,051,886 | ) | (914,276 | ) | |||||||||||||||||||||
Development costs incurred | 174,276 | 4,081,325 | |||||||||||||||||||||||
Changes in future development costs | 7,067,392 | (1,075,402 | ) | ||||||||||||||||||||||
Revisions of previous quantity estimates | (12,941,834 | ) | (30,621,872 | ) | |||||||||||||||||||||
Net change due to extensions and discoveries | 984,400 | 721,800 | |||||||||||||||||||||||
Net change in prices and production costs | (417,065 | ) | (13,387,649 | ) | |||||||||||||||||||||
Changes in production rate | (2,329,326 | ) | 4,496,298 | ||||||||||||||||||||||
Purchases of properties | - | - | |||||||||||||||||||||||
Accretion of discount | 2,884,668 | 5,716,386 | |||||||||||||||||||||||
Other | (1,874,725 | ) | (3,115,192 | ) | |||||||||||||||||||||
Standardized measure, end of period | 31,619,000 | 40,123,100 |
Basis_of_presentation_and_summ2
Basis of presentation and summary of significant accounting policies (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Y | |
D | |
Basis Of Presentation And Summary Of Significant Accounting Policies 1 | $2,015,495 |
Basis Of Presentation And Summary Of Significant Accounting Policies 2 | 90 |
Basis Of Presentation And Summary Of Significant Accounting Policies 3 | 10.00% |
Basis Of Presentation And Summary Of Significant Accounting Policies 4 | 3,260,958 |
Basis Of Presentation And Summary Of Significant Accounting Policies 5 | 2,034,070 |
Basis Of Presentation And Summary Of Significant Accounting Policies 6 | 99.00% |
Basis Of Presentation And Summary Of Significant Accounting Policies 7 | 0 |
Basis Of Presentation And Summary Of Significant Accounting Policies 8 | 284,235 |
Basis Of Presentation And Summary Of Significant Accounting Policies 9 | 148,786 |
Basis Of Presentation And Summary Of Significant Accounting Policies 10 | 1,500,000 |
Basis Of Presentation And Summary Of Significant Accounting Policies 11 | 249,000 |
Basis Of Presentation And Summary Of Significant Accounting Policies 12 | 2,380,000 |
Basis Of Presentation And Summary Of Significant Accounting Policies 13 | $0.41 |
Basis Of Presentation And Summary Of Significant Accounting Policies 14 | 1.75 |
Going_Concern_Narrative_Detail
Going Concern (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Going Concern 1 | $3,146,517 |
Notes_payable_and_longterm_deb2
Notes payable and long-term debt (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Notes Payable And Long-term Debt 1 | $500,000 |
Notes Payable And Long-term Debt 2 | 422,464 |
Notes Payable And Long-term Debt 3 | 10.00% |
Notes Payable And Long-term Debt 4 | 12.00% |
Notes Payable And Long-term Debt 5 | 475,500 |
Notes Payable And Long-term Debt 6 | 24,500 |
Notes Payable And Long-term Debt 7 | 130,000 |
Notes Payable And Long-term Debt 8 | 226,543 |
Notes Payable And Long-term Debt 9 | 164,183 |
Notes Payable And Long-term Debt 10 | 250,000 |
Notes Payable And Long-term Debt 11 | 250,000 |
Notes Payable And Long-term Debt 12 | 50.00% |
Notes Payable And Long-term Debt 13 | 39,619 |
Notes Payable And Long-term Debt 14 | 29,626 |
Notes Payable And Long-term Debt 15 | 50.00% |
Notes Payable And Long-term Debt 16 | 39,953 |
Notes Payable And Long-term Debt 17 | 9,994 |
Notes Payable And Long-term Debt 18 | 500,000 |
Notes Payable And Long-term Debt 19 | 10.00% |
Notes Payable And Long-term Debt 20 | 5,000 |
Notes Payable And Long-term Debt 21 | 74,444 |
Notes Payable And Long-term Debt 22 | 55,556 |
Notes Payable And Long-term Debt 23 | 3,000,000 |
Notes Payable And Long-term Debt 24 | 1,000,000 |
Notes Payable And Long-term Debt 25 | 65.00% |
Notes Payable And Long-term Debt 26 | 1,000,000 |
Notes Payable And Long-term Debt 27 | 10.00% |
Notes Payable And Long-term Debt 28 | 5.00% |
Notes Payable And Long-term Debt 29 | 195,440 |
Notes Payable And Long-term Debt 30 | 273,833 |
Notes Payable And Long-term Debt 31 | 1,000,000 |
Notes Payable And Long-term Debt 32 | 10.00% |
Notes Payable And Long-term Debt 33 | 5.00% |
Notes Payable And Long-term Debt 34 | 1,000,000 |
Notes Payable And Long-term Debt 35 | 333,333 |
Notes Payable And Long-term Debt 36 | 497,000 |
Notes Payable And Long-term Debt 37 | 111,167 |
Notes Payable And Long-term Debt 38 | 374,767 |
Notes Payable And Long-term Debt 39 | 122,233 |
Notes Payable And Long-term Debt 40 | 157,500 |
Notes Payable And Long-term Debt 41 | 81,849 |
Notes Payable And Long-term Debt 42 | 117,489 |
Notes Payable And Long-term Debt 43 | 61,570 |
Notes Payable And Long-term Debt 44 | 1,000,000 |
Notes Payable And Long-term Debt 45 | 10.00% |
Notes Payable And Long-term Debt 46 | 5.00% |
Notes Payable And Long-term Debt 47 | 1,000,000 |
Notes Payable And Long-term Debt 48 | 187,882 |
Notes Payable And Long-term Debt 49 | 757,968 |
Notes Payable And Long-term Debt 50 | 154,150 |
Notes Payable And Long-term Debt 51 | 43,010 |
Notes Payable And Long-term Debt 52 | 50,000 |
Notes Payable And Long-term Debt 53 | 14,363 |
Notes Payable And Long-term Debt 54 | 150,000 |
Notes Payable And Long-term Debt 55 | 50,000 |
Notes Payable And Long-term Debt 56 | 1,000,000 |
Notes Payable And Long-term Debt 57 | 10.00% |
Notes Payable And Long-term Debt 58 | 5.00% |
Notes Payable And Long-term Debt 59 | 1,000,000 |
Notes Payable And Long-term Debt 60 | 55,550 |
Notes Payable And Long-term Debt 61 | 944,450 |
Notes Payable And Long-term Debt 62 | 100,000 |
Notes Payable And Long-term Debt 63 | 155,550 |
Notes Payable And Long-term Debt 64 | 50,000 |
Notes Payable And Long-term Debt 65 | 750,000 |
Notes Payable And Long-term Debt 66 | 10.00% |
Notes Payable And Long-term Debt 67 | 5.00% |
Notes Payable And Long-term Debt 68 | 44,175 |
Notes Payable And Long-term Debt 69 | 705,825 |
Notes Payable And Long-term Debt 70 | 2,290,548.24 |
Notes Payable And Long-term Debt 71 | 5.00% |
Notes Payable And Long-term Debt 72 | 230,451.49 |
Notes Payable And Long-term Debt 73 | 49,073 |
Notes Payable And Long-term Debt 74 | 606,320 |
Notes Payable And Long-term Debt 75 | 2,096,610 |
Notes Payable And Long-term Debt 76 | 256,023 |
Notes Payable And Long-term Debt 77 | 1,709,990 |
Notes Payable And Long-term Debt 78 | 695,681 |
Notes Payable And Long-term Debt 79 | 373,045 |
Notes Payable And Long-term Debt 80 | 12.00% |
Notes Payable And Long-term Debt 81 | 32,626 |
Notes Payable And Long-term Debt 82 | 33,521 |
Notes Payable And Long-term Debt 83 | 48,000 |
Notes Payable And Long-term Debt 84 | $4,119 |
Notes Payable And Long-term Debt 85 | 6.00% |
Convertible_debentures_Narrati
Convertible debentures (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
D | |
Convertible Debentures 1 | $7,895,000 |
Convertible Debentures 2 | 2,100,000 |
Convertible Debentures 3 | 8.00% |
Convertible Debentures 4 | 2,100,000 |
Convertible Debentures 5 | 93,000 |
Convertible Debentures 6 | 1,000,000 |
Convertible Debentures 7 | 300,000 |
Convertible Debentures 8 | 50,000 |
Convertible Debentures 9 | 90 |
Convertible Debentures 10 | 157,000 |
Convertible Debentures 11 | 105,000 |
Convertible Debentures 12 | 53,000 |
Convertible Debentures 13 | 2,000,000 |
Convertible Debentures 14 | 12.00% |
Convertible Debentures 15 | 20,000,000 |
Convertible Debentures 16 | $0.23 |
Convertible Debentures 17 | 2,000,000 |
Convertible Debentures 18 | 12.00% |
Convertible Debentures 19 | $0.10 |
Convertible Debentures 20 | 19.90% |
Convertible Debentures 21 | 179,066 |
Convertible Debentures 22 | 779,066 |
Convertible Debentures 23 | 958,131 |
Convertible Debentures 24 | 451,564 |
Convertible Debentures 25 | 124,214 |
Convertible Debentures 26 | 1,000,000 |
Convertible Debentures 27 | 12.00% |
Convertible Debentures 28 | 1,000,000 |
Convertible Debentures 29 | 2,000,000 |
Convertible Debentures 30 | $0.10 |
Convertible Debentures 31 | 10,000,000 |
Convertible Debentures 32 | $0.23 |
Convertible Debentures 33 | 500,000 |
Convertible Debentures 34 | 1,000,000 |
Convertible Debentures 35 | 500,000 |
Convertible Debentures 36 | 351,651 |
Convertible Debentures 37 | 143,989 |
Convertible Debentures 38 | 0 |
Convertible Debentures 39 | $0.10 |
Convertible Debentures 40 | 12.00% |
Convertible Debentures 41 | 2,000,000 |
Convertible Debentures 42 | $1,000,000 |
Equity_transactions_Narrative_
Equity transactions (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Y | |
Equity Transactions 1 | $150,000 |
Equity Transactions 2 | 1,764,706 |
Equity Transactions 3 | 129,240 |
Equity Transactions 4 | 66,200 |
Equity Transactions 5 | 1,000,000 |
Equity Transactions 6 | 732,235 |
Equity Transactions 7 | 500,000 |
Equity Transactions 8 | $0.10 |
Equity Transactions 9 | 96,000 |
Equity Transactions 10 | $0.25 |
Equity Transactions 11 | 60,776 |
Equity Transactions 12 | 50,557 |
Equity Transactions 13 | 5 |
Equity Transactions 14 | 0.88% |
Equity Transactions 15 | 279.87% |
Equity Transactions 16 | 1,000,000 |
Equity Transactions 17 | 476,190 |
Equity Transactions 18 | 217,391 |
Equity Transactions 19 | $0.23 |
Equity Transactions 20 | 50,000 |
Equity Transactions 21 | 17,489 |
Equity Transactions 22 | 2 |
Equity Transactions 23 | 0.25% |
Equity Transactions 24 | 324.72% |
Equity Transactions 25 | 1,500,000 |
Equity Transactions 26 | 249,000 |
Equity Transactions 27 | 7,000,000 |
Equity Transactions 28 | $0.06 |
Equity Transactions 29 | 420,000 |
Equity Transactions 30 | 2,000,000 |
Equity Transactions 31 | 20,000,000 |
Equity Transactions 32 | 958,131 |
Equity Transactions 33 | 2 |
Equity Transactions 34 | 0.27% |
Equity Transactions 35 | 276.44% |
Equity Transactions 36 | 1,000,000 |
Equity Transactions 37 | 10,000,000 |
Equity Transactions 38 | 351,651 |
Equity Transactions 39 | 2 |
Equity Transactions 40 | 0.25% |
Equity Transactions 41 | 275.55% |
Equity Transactions 42 | 1,730,706 |
Equity Transactions 43 | $150,000 |
Options_Narrative_Details
Options (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
M | |
Y | |
Options 1 | 5 |
Options 2 | 10.00% |
Options 3 | 5.00% |
Options 4 | 10.00% |
Options 5 | 2.00% |
Options 6 | 2.00% |
Options 7 | 2,380,000 |
Options 8 | 2,505,000 |
Options 9 | $0.41 |
Options 10 | 0.41 |
Options 11 | 21 |
Options 12 | 33 |
Options 13 | 2,515,000 |
Options 14 | 944,617 |
Options 15 | 25.00% |
Options 16 | 12.50% |
Options 17 | $148,786 |
Warrants_Narrative_Details
Warrants (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
M | |
Warrants 1 | $0.23 |
Warrants 2 | 10 |
Warrants 3 | 22 |
Warrants 4 | 596,000 |
Warrants 5 | 217,391 |
Warrants 6 | 0.1 |
Warrants 7 | 0.25 |
Warrants 8 | 596,000 |
Warrants 9 | 217,391 |
Warrants 10 | 68,046 |
Warrants 11 | 20,000,000 |
Warrants 12 | 10,000,000 |
Warrants 13 | $0.23 |
Commitments_and_contingencies_
Commitments and contingencies (Narrative) (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2013 | |
USD ($) | CAD | |
mi | ||
Commitments And Contingencies 1 | $114,000 | ' |
Commitments And Contingencies 2 | 109,000 | ' |
Commitments And Contingencies 3 | 105,000 | ' |
Commitments And Contingencies 4 | 7 | 7 |
Commitments And Contingencies 5 | 4,900,000 | ' |
Commitments And Contingencies 6 | 8.00% | 8.00% |
Commitments And Contingencies 7 | 100.00% | 100.00% |
Commitments And Contingencies 8 | 3.00% | 3.00% |
Commitments And Contingencies 9 | 50.00% | 50.00% |
Commitments And Contingencies 10 | 15.00% | 15.00% |
Commitments And Contingencies 11 | 6.00% | 6.00% |
Commitments And Contingencies 12 | 23.5 | 23.5 |
Commitments And Contingencies 13 | 7 | 7 |
Commitments And Contingencies 14 | 93.40% | 93.40% |
Commitments And Contingencies 15 | 7 | 7 |
Commitments And Contingencies 16 | 200.00% | 200.00% |
Commitments And Contingencies 17 | 23.5 | 23.5 |
Commitments And Contingencies 18 | 25.00% | 25.00% |
Commitments And Contingencies 19 | 25.00% | 25.00% |
Commitments And Contingencies 20 | 23.5 | 23.5 |
Commitments And Contingencies 21 | ' | 190,000 |
Commitments And Contingencies 22 | ' | 187,000 |
Commitments And Contingencies 23 | 33,000 | ' |
Commitments And Contingencies 24 | $3,040,000 | ' |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions 1 | $500,000 |
Related Party Transactions 2 | 10.00% |
Related Party Transactions 3 | 74,444 |
Related Party Transactions 4 | 38,000 |
Related Party Transactions 5 | 55,556 |
Related Party Transactions 6 | 56,000 |
Related Party Transactions 7 | 5,000 |
Related Party Transactions 8 | 300,000 |
Related Party Transactions 9 | 12,500 |
Related Party Transactions 10 | 10.00% |
Related Party Transactions 11 | 95,662 |
Related Party Transactions 12 | 204,338 |
Related Party Transactions 13 | 40,155 |
Related Party Transactions 14 | 164,183 |
Related Party Transactions 15 | 250,000 |
Related Party Transactions 16 | 5.50% |
Related Party Transactions 17 | 250,000 |
Related Party Transactions 18 | 50.00% |
Related Party Transactions 19 | 39,619 |
Related Party Transactions 20 | 24,000 |
Related Party Transactions 21 | 31,000 |
Related Party Transactions 22 | 2,000,000 |
Related Party Transactions 23 | 12.00% |
Related Party Transactions 24 | 20,000,000 |
Related Party Transactions 25 | $0.23 |
Related Party Transactions 26 | 2,000,000 |
Related Party Transactions 27 | 1,000,000 |
Related Party Transactions 28 | 12.00% |
Related Party Transactions 29 | 1,000,000 |
Related Party Transactions 30 | 2,000,000 |
Related Party Transactions 31 | $0.10 |
Related Party Transactions 32 | 10,000,000 |
Related Party Transactions 33 | $0.23 |
Related Party Transactions 34 | 500,000 |
Related Party Transactions 35 | 1,000,000 |
Related Party Transactions 36 | $500,000 |
Income_taxes_Narrative_Details
Income taxes (Narrative) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Income Taxes 1 | $18 |
Income Taxes 2 | 100.00% |
Subsequent_Event_Narrative_Det
Subsequent Event (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Event 1 | $200,000 |
Subsequent Event 2 | 2,196,609 |
Subsequent Event 3 | 371,459 |
Subsequent Event 4 | 100,000 |
Subsequent Event 5 | 12.00% |
Subsequent Event 6 | 7,798 |
Subsequent Event 7 | 250,000 |
Subsequent Event 8 | 164,183 |
Subsequent Event 9 | 250,000 |
Subsequent Event 10 | $268,000 |
Subsequent Event 11 | 12.00% |
Subsequent Event 12 | 250,000 |
Disclosures_About_Oil_and_Gas_2
Disclosures About Oil and Gas Producing Activities (Unaudited) (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Disclosures About Oil And Gas Producing Activities (unaudited) 1 | -307.05 |
Disclosures About Oil And Gas Producing Activities (unaudited) 2 | 12 |
Disclosures About Oil And Gas Producing Activities (unaudited) 3 | $107.96 |
Disclosures About Oil And Gas Producing Activities (unaudited) 4 | 105.76 |
Disclosures About Oil And Gas Producing Activities (unaudited) 5 | 3.67 |
Disclosures About Oil And Gas Producing Activities (unaudited) 6 | $2.76 |
Disclosures About Oil And Gas Producing Activities (unaudited) 7 | 10.00% |
Schedule_of_estimated_useful_l
Schedule of estimated useful lives for equipment and other fixed assets (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Y | |
Basis Of Presentation And Summary Of Significant Accounting Policies Schedule Of Estimated Useful Lives For Equipment And Other Fixed Assets 1 | 3 |
Basis Of Presentation And Summary Of Significant Accounting Policies Schedule Of Estimated Useful Lives For Equipment And Other Fixed Assets 2 | $5 |
Basis Of Presentation And Summary Of Significant Accounting Policies Schedule Of Estimated Useful Lives For Equipment And Other Fixed Assets 3 | 7 |
Basis Of Presentation And Summary Of Significant Accounting Policies Schedule Of Estimated Useful Lives For Equipment And Other Fixed Assets 4 | 1 |
Basis Of Presentation And Summary Of Significant Accounting Policies Schedule Of Estimated Useful Lives For Equipment And Other Fixed Assets 5 | $5 |
Basis Of Presentation And Summary Of Significant Accounting Policies Schedule Of Estimated Useful Lives For Equipment And Other Fixed Assets 6 | 10 |
Basis Of Presentation And Summary Of Significant Accounting Policies Schedule Of Estimated Useful Lives For Equipment And Other Fixed Assets 7 | 10 |
Schedule_of_equipment_and_othe
Schedule of equipment and other fixed assets (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 1 | $163,060 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 2 | 163,060 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 3 | 5,520 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 4 | 5,520 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 5 | 802,014 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 6 | 802,014 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 7 | 207,637 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 8 | 207,637 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 9 | 1,178,231 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 10 | 1,178,231 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 11 | -1,172,907 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 12 | -1,154,600 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 13 | 5,324 |
Equipment And Other Fixed Assets Schedule Of Equipment And Other Fixed Assets 14 | $23,631 |
Schedule_of_Change_in_Asset_Re
Schedule of Change in Asset Retirement Obligation (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 1 | $2,392,369 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 2 | 2,208,867 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 3 | -370,566 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 4 | 0 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 5 | -116,898 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 6 | 0 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 7 | 260,616 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 8 | 183,502 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 9 | 2,165,521 |
Asset Retirement Obligations Schedule Of Change In Asset Retirement Obligation 10 | $2,392,369 |
Schedule_Of_Notes_Payable_And_
Schedule Of Notes Payable And Long-term Debt (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 1 | $65,921 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 2 | 195,921 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 3 | 40,075 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 4 | 0 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 5 | 2,096,610 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 6 | 1,608,974 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 7 | -256,023 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 8 | -186,791 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 9 | 373,940 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 10 | 406,567 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 11 | 2,320,523 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 12 | 2,024,671 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 13 | 3,000,000 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 14 | 2,500,000 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 15 | -590,015 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 16 | -1,185,568 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 17 | 414,183 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 18 | 414,183 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 19 | 0 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 20 | -9,994 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 21 | 375,000 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 22 | 444,444 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 23 | 21,728 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 24 | 21,728 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 25 | 3,220,896 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 26 | 2,184,793 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 27 | 5,541,419 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 28 | 4,209,464 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 29 | -5,541,419 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 30 | -2,655,025 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 31 | 0 |
Notes Payable And Long-term Debt Schedule Of Notes Payable And Long-term Debt 32 | $1,554,439 |
Schedule_of_Stock_option_activ
Schedule of Stock option activity (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Options Schedule Of Stock Option Activity 1 | $2,515,000 |
Options Schedule Of Stock Option Activity 2 | 0.41 |
Options Schedule Of Stock Option Activity 3 | 0 |
Options Schedule Of Stock Option Activity 4 | 0 |
Options Schedule Of Stock Option Activity 5 | 0 |
Options Schedule Of Stock Option Activity 6 | 0 |
Options Schedule Of Stock Option Activity 7 | -10,000 |
Options Schedule Of Stock Option Activity 8 | 0.9 |
Options Schedule Of Stock Option Activity 9 | 2,505,000 |
Options Schedule Of Stock Option Activity 10 | 0.41 |
Options Schedule Of Stock Option Activity 11 | 0 |
Options Schedule Of Stock Option Activity 12 | 0 |
Options Schedule Of Stock Option Activity 13 | 0 |
Options Schedule Of Stock Option Activity 14 | 0 |
Options Schedule Of Stock Option Activity 15 | -125,000 |
Options Schedule Of Stock Option Activity 16 | 0.37 |
Options Schedule Of Stock Option Activity 17 | $2,380,000 |
Options Schedule Of Stock Option Activity 18 | 0.41 |
Schedule_of_Warrant_activity_D
Schedule of Warrant activity (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Warrants Schedule Of Warrant Activity 1 | $0 |
Warrants Schedule Of Warrant Activity 2 | 0 |
Warrants Schedule Of Warrant Activity 3 | 30,813,391 |
Warrants Schedule Of Warrant Activity 4 | 0.23 |
Warrants Schedule Of Warrant Activity 5 | 0 |
Warrants Schedule Of Warrant Activity 6 | 0 |
Warrants Schedule Of Warrant Activity 7 | 0 |
Warrants Schedule Of Warrant Activity 8 | 0 |
Warrants Schedule Of Warrant Activity 9 | 30,813,391 |
Warrants Schedule Of Warrant Activity 10 | 0.23 |
Warrants Schedule Of Warrant Activity 11 | $30,813,391 |
Warrants Schedule Of Warrant Activity 12 | 0.23 |
Schedule_of_Deferred_Tax_Asset
Schedule of Deferred Tax Assets and Liabilities (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 1 | $822,032 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 2 | 908,143 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 3 | 981,065 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 4 | 981,065 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 5 | 1,416,946 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 6 | 846,965 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 7 | 6,768 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 8 | 6,655 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 9 | 123,894 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 10 | 123,894 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 11 | 6,253,937 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 12 | 5,233,369 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 13 | 9,604,642 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 14 | 8,100,092 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 15 | -9,604,642 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 16 | -8,100,092 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 17 | 0 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 18 | $0 |
Schedule_of_provision_for_inco
Schedule of provision for income taxes (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Income Taxes Schedule Of Provision For Income Taxes 1 | $1,069,816 |
Income Taxes Schedule Of Provision For Income Taxes 2 | 1,128,277 |
Income Taxes Schedule Of Provision For Income Taxes 3 | 157,179 |
Income Taxes Schedule Of Provision For Income Taxes 4 | -3,655 |
Income Taxes Schedule Of Provision For Income Taxes 5 | -170,262 |
Income Taxes Schedule Of Provision For Income Taxes 6 | -107,457 |
Income Taxes Schedule Of Provision For Income Taxes 7 | -1,056,733 |
Income Taxes Schedule Of Provision For Income Taxes 8 | -1,017,165 |
Income Taxes Schedule Of Provision For Income Taxes 9 | 0 |
Income Taxes Schedule Of Provision For Income Taxes 10 | $0 |
Schedule_of_Net_Capitalized_Co
Schedule of Net Capitalized Costs (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Net Capitalized Costs 1 | $41,253,526 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Net Capitalized Costs 2 | 41,433,095 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Net Capitalized Costs 3 | 724,266 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Net Capitalized Costs 4 | 661,641 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Net Capitalized Costs 5 | 41,977,792 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Net Capitalized Costs 6 | 42,094,736 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Net Capitalized Costs 7 | -22,989,672 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Net Capitalized Costs 8 | -22,090,310 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Net Capitalized Costs 9 | 18,988,120 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Net Capitalized Costs 10 | $20,004,426 |
Schedule_of_Unproved_Property_
Schedule of Unproved Property Costs (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 1 | $62,625 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 2 | 89,845 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 3 | -857,414 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 4 | -704,944 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 5 | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 6 | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 7 | 1,429,210 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 8 | 1,429,210 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 9 | 62,625 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 10 | 89,845 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 11 | 571,796 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Unproved Property Costs 12 | $724,266 |
Schedule_of_Costs_Incurred_in_
Schedule of Costs Incurred in Oil and Gas Acquisition, Exploration and Development (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Costs Incurred In Oil And Gas Acquisition, Exploration And Development 1 | $174,276 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Costs Incurred In Oil And Gas Acquisition, Exploration And Development 2 | 4,081,325 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Costs Incurred In Oil And Gas Acquisition, Exploration And Development 3 | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Costs Incurred In Oil And Gas Acquisition, Exploration And Development 4 | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Costs Incurred In Oil And Gas Acquisition, Exploration And Development 5 | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Costs Incurred In Oil And Gas Acquisition, Exploration And Development 6 | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Costs Incurred In Oil And Gas Acquisition, Exploration And Development 7 | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Costs Incurred In Oil And Gas Acquisition, Exploration And Development 8 | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Costs Incurred In Oil And Gas Acquisition, Exploration And Development 9 | 174,276 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Costs Incurred In Oil And Gas Acquisition, Exploration And Development 10 | $4,081,325 |
Schedule_of_Results_of_Operati
Schedule of Results of Operations from Oil and Gas Producing Activities (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 1 | $3,269,758 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 2 | 2,043,489 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 3 | 51,912 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 4 | 50,044 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 5 | -894,546 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 6 | -1,003,802 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 7 | -323,326 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 8 | -112,214 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 9 | -1,159,978 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 10 | -748,637 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 11 | 943,820 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Results Of Operations From Oil And Gas Producing Activities 12 | $228,880 |
Schedule_of_Oil_and_Gas_Reserv
Schedule of Oil and Gas Reserve Quantities (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 1 | 724.2 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 2 | 2,775.90 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 3 | 1,186.85 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 4 | 21 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 5 | 40.8 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 6 | 27.8 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 7 | -232.95 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 8 | -444.57 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 9 | -307.05 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 10 | -30.25 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 11 | -2.13 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 12 | -30.61 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 13 | $0 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 14 | 0 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 15 | 0 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 16 | 0 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 17 | 0 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 18 | 0 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 19 | 482 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 20 | 2,370 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 21 | 877 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 22 | 178 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 23 | 20.4 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 24 | 181.4 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 25 | 113 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 26 | 2 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 27 | 113.3 | ' |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 1 | ' | 2,013.90 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 2 | ' | 315.9 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 3 | ' | 2,066.55 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 4 | ' | 28.2 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 5 | ' | 14.1 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 6 | ' | 30.55 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 7 | ' | -1,298.92 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 8 | ' | 2,449.68 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 9 | ' | -890.64 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 10 | ' | -18.98 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 11 | ' | -3.78 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 12 | ' | -19.61 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 13 | ' | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 14 | ' | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 15 | ' | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 16 | ' | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 17 | ' | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 18 | ' | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 19 | ' | 724.2 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 20 | ' | 2,775.90 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 21 | ' | 1,186.85 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 22 | ' | 82.47 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 23 | ' | $0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 24 | ' | 82.47 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 25 | ' | 178 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 26 | ' | 20.4 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Oil And Gas Reserve Quantities 27 | ' | 181.4 |
Schedule_of_future_net_cash_fl
Schedule of future net cash flows relating to proved oil and gas reserves based on the standardized measure (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 1 | $60,432,000 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 2 | 84,254,900 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 3 | -7,799,000 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 4 | -14,101,100 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 5 | -11,500,000 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 6 | -17,152,700 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 7 | 41,133,000 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 8 | 53,001,100 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 9 | 10.00% |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 10 | -9,514,000 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 11 | -12,878,000 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 12 | 31,619,000 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Future Net Cash Flows Relating To Proved Oil And Gas Reserves Based On The Standardized Measure 13 | $40,123,100 |
Schedule_of_change_in_the_stan
Schedule of change in the standardized measure of discounted future net cash flows (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 1 | $40,123,100 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 2 | 74,221,682 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 3 | -2,051,886 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 4 | -914,276 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 5 | 174,276 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 6 | 4,081,325 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 7 | 7,067,392 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 8 | -1,075,402 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 9 | -12,941,834 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 10 | -30,621,872 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 11 | 984,400 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 12 | 721,800 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 13 | -417,065 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 14 | -13,387,649 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 15 | -2,329,326 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 16 | 4,496,298 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 17 | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 18 | 0 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 19 | 2,884,668 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 20 | 5,716,386 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 21 | -1,874,725 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 22 | -3,115,192 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 23 | 31,619,000 |
Disclosures About Oil And Gas Producing Activities (unaudited) Schedule Of Change In The Standardized Measure Of Discounted Future Net Cash Flows 24 | $40,123,100 |