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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 84,631
Accounts receivable - oil and natural gas sales and other 982,814 124,577
Inventory 476,305
Unrealized gain on derivative instruments 113,081
Prepaids 247,718 45,214
Total current assets 1,706,837 367,503
Oil and natural gas properties, successful efforts 12,660,457 1,645,297
Less: accumulated depreciation and depletion (3,365,340) (15,527)
Total oil and natural gas properties, net 9,295,117 1,629,770
Other property and equipment, net of $1,830 accumulated depreciation 12,626
Total property and equipment 9,307,743 1,629,770
Total assets 11,014,580 1,997,273
Current liabilities:    
Accounts payable 1,025,585 320,749
Accrued expenses 1,103,916 141,033
Unrealized loss on derivatives 11,861
Current portion of long term notes payable 96,704 279,204
Total current liabilities 2,238,066 740,986
Long term portion of unrealized loss on derivatives 211,771
Long term notes payable 7,715,118 1,175,820
Asset retirement obligations 5,788,280 230,650
Total liabilities 15,953,235 2,147,456
Stockholders' equity (deficit):    
Common stock - $.001 par value 150,000,000 shares authorized, 20,367,277 and 17,345,609 shares issued and outstanding, respectively 20,367 17,345
Additional paid in capital 18,823,926 16,960,818
Accumulated deficit (23,782,948) (17,128,346)
Total stockholders' equity (deficit) (4,938,655) (150,183)
Total liabilities and stockholders' equity (deficit) $ 11,014,580 $ 1,997,273