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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenue:        
Oil and natural gas sales $ 1,695,264 $ 24,277 $ 4,016,232 $ 24,277
Gain on derivatives, net 492,862 0 925,231 0
Total Revenue 2,188,126 24,277 4,941,463 24,277
Costs and expenses:        
Operating 1,577,437 26,128 2,971,308 26,128
Taxes - production 109,878 3,040 259,351 3,040
Depreciation, depletion and amortization 769,372 1,254 1,649,578 1,254
Accretion of asset retirement obligation 63,255 0 133,082
General and administrative 469,792 205,397 3,126,403 642,476
Total costs and expenses 2,989,734 235,819 8,139,722 672,898
Operating loss (801,608) (211,542) (3,198,259) (648,621)
Other expense:        
Interest expense 145,345 22,032 342,256 61,505
Total other expense 145,345 22,032 342,256 61,505
Net loss $ (946,953) $ (233,574) $ (3,540,515) $ (710,126)
Net loss per common share, basic and diluted $ (0.05) $ (0.02) $ (0.19) $ (0.06)
Weighted average number of common shares outstanding basic and diluted 19,867,277 13,040,480 19,020,236 11,731,332