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ACQUISITIONS - The fair values of the assets acquired and the liabilities assumed (Details) - USD ($) | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017
--- | --- | --- | --- | --- | --- | ---
Assets acquired |  |  |  |  |  |
Proved oil and gas properties |  | $ 296,910,774 |  |  |  |
Joint interest billing receivable | $ 1,464,394 | 1,464,394 | $ 1,464,394 | $ 1,464,394 | $ 0 | $ 0
Prepaid assets | 2,864,554 | 2,864,554 | 2,864,554 | 2,864,554 | 0 | 0
Liabilities assumed |  |  |  |  |  |
Draw on revolving line of credit |  |  |  | (15,000,000) |  |
Accounts and revenues payable | (1,234,861) | (1,234,862) | (1,234,862) | (1,234,862) | 0 | 0
Asset retirement obligation incurred through acquisition | (3,705,941) | (2,979,645) | (2,979,645) | (2,979,645) | $ 0 | $ 0
Acquisition payable to be settled through equity |  |  |  | (28,356,396) |  |
Acquisition payable to be settled through cash payment |  |  |  | (256,877,766) |  |
Total Identifiable Net Assets |  | $ 297,025,215 |  | $ (300,119,721) |  |
Wishbone Acquisition |  |  |  |  |  |
Assets acquired |  |  |  |  |  |
Proved oil and gas properties | 305,004,775 |  | 296,910,774 |  |  |
Joint interest billing receivable | 1,464,394 |  | 1,464,394 |  |  |
Prepaid assets | 2,864,554 |  | 2,864,554 |  |  |
Liabilities assumed |  |  |  |  |  |
Accounts and revenues payable | (1,234,861) |  | (1,234,862) |  |  |
Asset retirement obligation incurred through acquisition | (3,705,941) |  | (2,979,645) |  |  |
Total Identifiable Net Assets | $ 304,392,921 |  | $ 297,025,215 |  |  |

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- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer, acquired at the acquisition date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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- Definition Portion of accounts receivable attributable to joint interest partners in oil and gas properties. These are billings to the non-operators associated with the operation of wells and are based on those owners' working interests in the wells. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 323 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6474814&loc=d3e64006-109457 + Details
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