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Acquisitions of oil and gas properties (Tables)
 12 Months Ended
Dec. 31, 2018
Acquisitions Of Oil And Gas Properties  
Schedule of purchase price allocation

The following table sets forth the Company's preliminary purchase price allocations:

 

    Cardinal     Exodus     Riviera  
Fair Value of Assets Acquired                  
Accounts receivable     57,061       144,038       50,335  
Oil and natural gas properties (a)   377,747       1,059,065       208,254  
Total Assets Acquired   $ 434,808       1,203,103       258,589  
                         
Fair Value of liabilities Assumed                        
Accounts payable – trade     28,026       134,335       8,607  
Asset retirement obligations     83,782       99,421       44,982  
Total Liabilities Assumed   $ 111,808       234,061       53,589  

 

(a) The Cardinal acquisition was of oil producing properties only.
Schedule of combined result of operation
    For the year ended December 31,  
    2018     2017  
             
Oil and gas sales   $ 952,121     $ 1,059,992  
Net loss     (899,100 )     (789,852 )
Earnings per share, basic and diluted   $ (0.06 )   $ (0.05 )