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RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)
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3 Months Ended | |
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Nov. 30, 2013
Integer
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Nov. 30, 2012
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| Number of hobbs hours of operation | 2,000 | |
| Revenue | $ 2,169 | $ 32,964 |
| Fuel | 11,936 | |
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Elite Aviation Use Mgnt Agmt
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| Date that the Aircraft Use Management Agreement With Elite Aviation VGT Entered | Sep. 01, 2011 | |
| Date that the Aircraft Use Management Agreement With Elite Aviation VGT LLC Terminated | Nov. 01, 2012 | |
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Elite Aviation Lease Agmt
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| Date that the Helicopter Lease Agreement Entered | Nov. 01, 2011 | |
| Revenue Per Hobb Hour | 185 | |
| Average rental rate | $ 0 | |
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- Definition
The capitalized costs incurred during the period (excluded from amortization) to operate and maintain wells and related equipment and facilities, including depreciation and applicable operating costs of support equipment and facilities and other costs of operating and maintaining those wells and related equipment and facilities. They become part of the cost of oil and gas produced. Examples of production costs (sometimes called lifting costs) are: costs of labor to operate the wells and related equipment and facilities; repairs and maintenance; materials, supplies, and fuel consumed and supplies utilized in operating the wells and related equipment and facilities; property taxes and insurance applicable to proved properties and wells and related equipment and facilities; severance taxes; some support equipment or facilities may serve two or more oil and gas producing activities and may also serve transportation, refining, and marketing activities. To the extent that the support equipment and facilities are used in oil and gas producing activities, their depreciation and applicable operating costs become exploration, development or production costs, as appropriate. Depreciation, depletion, and amortization of capitalized acquisition, exploration, and development costs are not production costs but also become part of the cost of oil and gas produced along with production (lifting) costs identified above. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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