Annual report pursuant to Section 13 and 15(d)

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.8.0.1
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2017
Accounting Policies [Abstract]  
Schedule Of Depletion and Depletion Rate Per Barrel Of Oil Equivalents [Table Text Block]
The following table shows total depletion and depletion per barrel-of-oil-equivalent rate, for the years ended December 31, 2017, 2016 and 2015.
 
 
 
For the Years Ended December 31,
 
 
 
2017
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
 
Depletion
 
$
20,197,690
 
$
11,179,858
 
$
14,889,487
 
Depletion rate, per barrel-of-oil-equivalent (BOE)
 
$
13.92
 
$
12.73
 
$
20.03
 
Schedule Of Property Plant And Equipment Estimated Useful Lives [Table Text Block]
Depreciation of buildings and equipment is calculated using the straight-line method based upon the following estimated useful lives:
 
Leasehold improvements
 
3-10 years
Office equipment and software
 
3-7 years
Machinery and equipment
 
5-10 years