Long Term Debt (Details Narrative) - USD ($) |
1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2019 |
Jul. 24, 2019 |
Feb. 14, 2019 |
Dec. 28, 2018 |
Sep. 30, 2019 |
Sep. 30, 2018 |
Sep. 30, 2019 |
Sep. 30, 2018 |
Dec. 31, 2018 |
Oct. 31, 2019 |
|
Accrued interest | $ 1,500,000 | $ 1,500,000 | ||||||||
General and administrative expenses | $ 1,076,287 | $ 1,364,779 | $ 3,367,591 | $ 3,391,240 | ||||||
New Warrant [Member] | ||||||||||
Warrant issued | 17,422,500 | 17,422,500 | ||||||||
Crossfirst Bank [Member] | ||||||||||
Interest rate description | Bearing interest at 7.15%, payable in 60 installments of $1,130, with a maturity date of February 14, 2024 | |||||||||
Interest rate | 7.15% | |||||||||
Maturity date | Feb. 14, 2024 | |||||||||
Promissory note | $ 56,760 | |||||||||
Other Short Term Borrowings [Member] | ||||||||||
Other short-term borrowings | $ 910,000 | $ 910,000 | ||||||||
Weekly payments | $ 1,237,600 | |||||||||
Weekly payments description | the Company to make 28 weekly payments aggregating $1,237,600 through April 13, 2020. The agreement provides discounts for early payment. The balance shown is net of the maximum discount of $327,600 at September 30, 2019. | |||||||||
Note Holders [Member] | Warrant [Member] | June through December of 2018 [Member] | ||||||||||
Warrant issued | 115,000 | 11,373,750 | 11,373,750 | |||||||
Additional warranty amount | $ 100,000 | |||||||||
Warranty term | 5 years | 5 years | ||||||||
Exercise price | $ 0.20 | $ 0.20 | $ 0.20 | |||||||
Interest rate | 12.00% | |||||||||
Mid-Con Petroleum, LLC [Member] | Cornerstone Bank [Member] | ||||||||||
Interest rate description | bearing interest at 6%, payable interest only for the first year, then payable in 59 installments of $43,438, with a final payment due on a maturity date of July 24, 2025. | |||||||||
Interest rate | 6.00% | |||||||||
Maturity date | Jul. 24, 2025 | |||||||||
Promissory note | $ 2,241,758 | |||||||||
Unamortized discount | $ 27,662 | $ 27,662 | $ 5,981,012 | |||||||
December 28, 2018 promissory note [Member] | ||||||||||
Interest rate description | (i) a floating rate of interest equal to 10% plus LIBOR, and (ii) a fixed rate of interest equal to 12%, payable monthly on the last day of each calendar month, commencing January 31, 2019. Principal payments are made quarterly at 1.25% of the initial loan amount, commencing on the last business day of the fiscal quarter ending June 30, 2019. | |||||||||
Maturity date | Dec. 28, 2023 | |||||||||
Unamortized discount | 3,728,679 | 3,728,679 | $ 4,385,408 | |||||||
Description of acquisition with one or more sellers | The Company or one of its affiliates completes an acquisition with one or more of the Sellers for a purchase price equal to or greater than $50,000,000 or (ii) January 31, 2020. | |||||||||
Loan amount | 63,592,000 | |||||||||
General and administrative expenses | 65,000 | |||||||||
Additional principal payment on debt | 2,000,000 | |||||||||
Oil and gas development projects | 12,000,000 | |||||||||
June through December of 2018 promissory note [Member] | ||||||||||
Accrued interest | $ 191,250 | |||||||||
Maturity date | Aug. 31, 2020 | Aug. 31, 2019 | ||||||||
Promissory note | $ 9,459,750 | |||||||||
Unamortized discount | 2,872,536 | $ 2,872,536 | 5,981,012 | |||||||
Exchange of Borrowed amount due to lender | $ 5,514,000 | |||||||||
December 28, 2018 promissory note One [Member] | ||||||||||
Maturity date | Jan. 31, 2020 | |||||||||
Promissory note | $ 23,777,948 | |||||||||
Ownership percentage | 100.00% | |||||||||
June 13, 2018 promissory note [Member] | ||||||||||
Interest rate | 1.50% | |||||||||
Maturity date | May 10, 2021 | |||||||||
Promissory note | $ 12,400,000 | |||||||||
Unamortized discount | $ 51,805 | $ 51,805 | 103,421 | |||||||
Debt instrument periodic payments | $ 100,000 | |||||||||
Frequency of periodic payments | Monthly | |||||||||
Maximum principal amount | $ 30,000,000 |