Annual report pursuant to Section 13 and 15(d)

Acquisition (Tables)

v3.10.0.1
Acquisition (Tables)
12 Months Ended
Dec. 31, 2017
Business Combinations [Abstract]  
Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition.

 

Assets      
Cash   $ 358,130  
Cash in escrow     240,000  
Oil and gas properties     10,016,990  
Drilling equipment     265,578  
Investment     100  
Bond deposits     295,000  
Liabilities        
Accounts payable     (389,325 )
Contingent liabilities     (213,372 )
Related party payable     (10,600 )
Net assets acquired     10,562,501