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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenue:        
Oil and natural gas sales $ 1,996,758 $ 0 $ 2,320,968 $ 0
Gain on derivatives, net 500,728 0 432,369
Total Revenue 2,497,486   2,753,337  
Costs and expenses:        
Operating 1,241,384 0 1,393,871 0
Taxes - production 129,824 0 149,473 0
Depreciation, depletion and amortization 862,120 0 880,206
Accretion of asset retirement obligation 63,228 0 69,827
General and administrative 2,044,022 210,402 2,656,611 437,079
Total costs and expenses 4,340,578 210,402 5,149,988 437,079
Operating loss (1,843,092) (210,402) (2,396,651) (437,079)
Other expense:        
Interest expense 162,968 19,845 196,911 39,473
Total other expense 162,968 19,845 196,911 39,473
Net loss $ (2,006,060) $ (230,247) $ (2,593,562) $ (476,552)
Net loss per common share, basic and diluted $ (0.10) $ (0.02) $ (0.14) $ (0.04)
Weighted average number of common shares outstanding basic and diluted 19,358,110 11,248,942 18,587,304 11,071,720