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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current Assets:    
Cash $ 134,374 $ 0
Accounts Receivable 1,047,092 982,814
Unrealized Gain on Derivative Instruments 456,447 0
Acquisition Deposit Receivable (see Note 4) 50,000 0
Inventory 588,648 476,305
Prepaids 218,015 129,541
Total Current Assets 2,494,576 1,588,660
Property and equipment:    
Oil and Natural Gas Properties, Successful Efforts 24,678,466 12,660,457
Less: Accumulated Depreciation, Depletion and Impairment (5,172,137) (3,365,340)
Oil and Natural Gas Properties, Successful Efforts, net 19,506,329 9,295,117
Other Property and Equipment, net of $4,184 and $1,830 Accumulated Depreciation, respectively 10,272 12,626
Total Property and Equipment, net 19,516,601 9,307,743
Utility and Other Deposits 747,739 118,177
Total Assets 22,758,916 11,014,580
Current Liabilities:    
Accounts Payable 1,536,484 1,025,585
Accrued Expenses 2,262,844 1,103,916
Unrealized Loss on Derivative Instruments 0 11,861
Current Portion of Long-term Notes Payable 8,835,358 96,704
Total Current Liabilities 12,634,686 2,238,066
Long Term Portion of Unrealized Loss on Derivative Instruments 0 211,771
Long-Term Notes Payable 141,384 7,715,118
Contingent Payments (see Note 5) 985,820 0
Asset Retirement Obligations 15,928,473 5,788,280
Total Liabilities 29,690,363 15,953,235
Stockholders' Deficit:    
Common Stock - $.001 Par Value 150,000,000 Shares Authorized, 24,892,277 and 20,367,277 Shares Issued and Outstanding, Respectively 24,892 20,367
Additional Paid-in Capital 19,853,151 18,823,926
Accumulated Deficit (26,809,490) (23,782,948)
Total Stockholders' Deficit (6,931,447) (4,938,655)
Total Liabilities and Stockholders' Deficit $ 22,758,916 $ 11,014,580