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PROPERTY AND EQUIPMENT (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
PROPERTY AND EQUIPMENT (Details)
Proved producing wells	$ 3,832,783
Proved undeveloped	2,232,458
Lease and well equipment	1,112,045
Asset retirement obligation	5,887,234	$ 5,788,280
Unproved leasehold costs	492,480
Gross capitalized costs	13,149,816
Less: accumulated depreciation, depletion and impairment	(4,433,025)
Net Capitalized costs	$ 8,716,791

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The carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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Amount of accumulated depreciation, depletion, amortization and valuation allowance relating to oil and gas producing activities.

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The sum of capitalized costs relating to oil and gas producing activities before accounting for accumulated depreciation.

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Net amount of capitalized costs relating to oil and gas producing activities.

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Capitalized costs of proved properties incurred for any combination mineral interests acquisitions; wells and related equipment; support equipment and facilities; and uncompleted wells and equipment and other costs not previously disclosed within this table.

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