Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows from Operating Activities    
Net loss $ (2,159,499) $ (220,717)
Depreciation and amortization 18,369
Impairment of assets 1,272,753
Amortization of debt discount 57,134
Accretion of asset retirement obligation 2,917
Common stock and stock payable issued for services 202,067
Changes in operating assets and liabilities:    
Prepaid expenses (117,484) 97,250
Accounts payable and accrued liabilities (485,180) 61,500
Accounts payable - related party (10,600)
Accounts receivable (21,988)
Accrued interest 50,486 11,967
Net cash used in operating activities (1,191,025) (50,000)
Cash Flows from Investing Activities    
Payments for acquisition of oil and gas property (1,474,584) (20,000)
Net cash from investing activities (1,474,584) (20,000)
Cash Flows from Financing Activities    
Proceeds from note payable - related party 1,250,000
Proceeds from note payable 2,250,000
Net cash provided by financing activities 2,250,000
Net decrease in cash and cash equivalents (415,609) (70,000)
Cash and Cash Equivalents, beginning of period 801,377 375,000
Cash and Cash Equivalents, end of period 385,768 305,000
Supplemental disclosures on cash flow information:    
Prepaid expenses in shares 260,322
Asset Retirement Obligation 291,659
Debt discount $ 342,804