Business Acquisition (Details 1) - USD ($) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
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| Fair Value of Assets and Liabilities | ||
| Cash | $ 536,156 | $ 18,605 |
| Other asset - rental deposit | 9,396 | |
| Less undistributed revenues and royalties | 1,175,200 | |
| Calculated Goodwill (Bargain Purchase Gain) | (27,021,418) | |
| Business Acquisition [Member] | ||
| Total purchase price | 3,455,919 | |
| Fair Value of Assets and Liabilities | ||
| Cash | 1,252,769 | |
| Prepaid expenses and other assets | 39,185 | |
| Oil and Gas Properties | 30,257,265 | |
| Property and equipment | 172,491 | |
| Other asset - rental deposit | 9,396 | |
| Less undistributed revenues and royalties | (1,253,769) | |
| Total Fair Value of Acquisition | 30,477,337 | |
| Calculated Goodwill (Bargain Purchase Gain) | $ (27,021,418) | |
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- Definition In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets. No definition available.
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- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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