Quarterly report pursuant to Section 13 or 15(d)

4. Debt Restructuring (Details - Income Statement)

v3.5.0.2
4. Debt Restructuring (Details - Income Statement) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Other income (expense):        
Net income (loss) $ 0 $ (28,263,818) $ (10,197,374) $ (46,872,099)
Discontinued Operations [Member]        
Loss from discontinued items, net of income taxes        
Oil and gas sales 0 3,359,684 5,539,613 11,296,220
Gain on settled derivatives 0 7,456,284 1,043,026 9,436,903
Loss on the mark-to-market of derivatives 0 (3,297,358) (4,288,736) (4,886,184)
Total revenues 0 7,518,610 2,293,903 15,846,939
Operating expenses:        
Production expenses 0 887,187 1,400,639 3,030,707
Production taxes 0 330,186 568,028 1,171,530
General and administrative 0 102,129 476,461 309,858
Depletion of oil and gas properties 0 1,778,580 3,114,347 7,346,356
Impairment of oil and gas properties 0 30,995,000 5,219,000 52,634,000
Accretion of discount on asset retirement obligations 0 8,039 16,258 23,900
Total operating expenses 0 34,101,121 10,794,733 64,516,351
Net operating loss 0 (26,582,511) (8,500,830) (48,669,412)
Other income (expense):        
Interest expense 0 (1,681,307) (1,696,544) (4,795,727)
Total other income (expense) 0 (1,681,307) (1,696,544) (4,795,727)
Loss before provision for income taxes 0 (28,263,818) (10,197,374) (53,465,139)
Provision for income taxes 0 0 0 6,593,040
Net income (loss) $ 0 $ (28,263,818) $ (10,197,374) $ (46,872,099)