Subsequent Events (Details Narrative) - USD ($) |
Nov. 10, 2017 |
Oct. 04, 2017 |
Oct. 03, 2017 |
Oct. 02, 2017 |
Oct. 25, 2017 |
Oct. 19, 2017 |
Sep. 30, 2017 |
Dec. 31, 2016 |
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Loan principal amount | $ 4,087,032 | $ 2,881,945 | ||||||
Subsequent Event [Member] | Consulting agreement [Member] | ||||||||
Cash received in exchange of services | $ 5,000 | |||||||
Common shares received in exchange of services | 50,000 | |||||||
Subsequent Event [Member] | Cornerstone Bank [Member] | ||||||||
Loan principal amount | $ 204,000 | $ 290,000 | ||||||
Interest rate | 6.00% | 6.00% | ||||||
Subsequent Event [Member] | Miami and Franklin [Member] | Cornerstone Bank [Member] | ||||||||
Maturity date | Oct. 02, 2025 | |||||||
Interest payable, description |
For the first 12 months, the Note bears interest at Cornerstones corporate base rate (currently 4.5%) plus 1.0% |
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Loan proceeds | $ 286,016 | |||||||
Acquired working interest | 100.00% | |||||||
Acquisition price | $ 530,000 | |||||||
Subsequent Event [Member] | Riley, Geary and Wabaunsee [Member] | Cornerstone Bank [Member] | ||||||||
Maturity date | Oct. 03, 2025 | |||||||
Interest payable, description |
For the first 12 months, the Note bears interest at Cornerstones corporate base rate (currently 4.5%) plus 1.0%, and thereafter the interest rate shall be 6% per annum. |
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Loan proceeds | $ 200,441 | |||||||
Acquired working interest | 80.00% | |||||||
Acquisition price | $ 400,000 | |||||||
Leases, description |
The leases produce oil from various zones, including the Conglomerate (at depths of 1,650 to 1,800 feet), Viola and Simpson Sandstone (at depths of 2,917 to 3,063 feet), and offer the potential for several future drilling locations. |
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Subsequent Event [Member] | Equity Unit Purchase Agreements [Member] | Black Rhino LP [Member] | ||||||||
Maturity date | Oct. 31, 2020 | |||||||
Cash payment | $ 3,000,000 | |||||||
Common stock reserve for future issuance | 2,000,000 | |||||||
Royalty interest | 1.50% | |||||||
Closing date, description | The scheduled closing date of the transaction is on or before December 22, 2017 |