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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash $ 590,813
Accounts receivable 678,794 982,814
Unrealized gain on derivative instruments 1,532,968
Inventory 155,388 476,305
Prepaids 222,409 247,718
Total current assets 3,179,742 1,706,837
Oil and natural gas properties, successful efforts 13,149,816 12,660,457
Less: accumulated depreciation, depletion, and impairment (4,433,025) (3,365,340)
Oil and natural gas properties, successful efforts, net 8,716,791 9,295,117
Other property and equipment, net of $2,615 and $1,830 accumulated depreciation, respectively 11,841 12,626
Total property and equipment, net 8,728,632 9,307,743
Unrealized gain on derivative instruments - long term 219,160  
Deposit 850,000  
Total assets 12,977,534 11,014,580
Current liabilities:    
Accounts payable 1,095,394 1,025,585
Accrued expenses 904,138 1,103,916
Unrealized loss on derivatives 11,861
Current portion of long-term notes payable 8,338,908 96,704
Total current liabilities 10,338,440 2,238,066
Long term portion of unrealized loss on derivatives 211,771
Long-term notes payable 7,715,118
Asset retirement obligations 5,887,234 5,788,280
Total liabilities 16,225,674 15,953,235
Stockholders' deficit:    
Common stock - $.001 par value 150,000,000 shares authorized, 21,392,277 and 20,367,277 shares issued and outstanding, respectively 21,392 20,367
Additional paid-in capital 18,925,401 18,823,926
Accumulated deficit (22,194,933) (23,782,948)
Total stockholders' deficit (3,248,140) (4,938,655)
Total liabilities and stockholders' deficit $ 12,977,534 $ 11,014,580