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Going Concern Matters | 12 Months Ended
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Dec. 31, 2012
Going Concern Matters [Abstract] |
GOING CONCERN MATTERS | NOTE 14 – GOING CONCERN MATTERS The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements for the year ended December 31, 2012 and 2011, the Company has incurred operating losses of ($1,720,306) and ($681,989), respectively. In addition, the Company has a deficiency in stockholder’s equity of ($444,922) and ($194,718) at December 31, 2012 and 2011, respectively. These factors among others may indicate that the Company will be unable to continue as a going concern for a reasonable period of time. The Company’s existence is dependent upon management’s ability to develop profitable operations. Management is devoting substantially all of its efforts to establishing its business and there can be no assurance that the Company’s efforts will be successful. However, the planned principal operations have not fully commenced and no assurance can be given that management’s actions will result in profitable operations or the resolution of its liquidity problems. The accompanying statements do not include any adjustments that might result should the Company be unable to continue as a going concern. In order to improve the Company’s liquidity, the Company is currently trying to raise capital through conversion of ownership of wells into royalty interests. There can be no assurance that the Company will be successful in its efforts to secure additional equity financing.

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