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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Revenue and Other:    
Oil and Gas Sales $ 2,456,458 $ 1,314,399
Gain (Loss) on Derivatives (net) (357,915) 2,509,045
Total Revenue 2,098,543 3,823,444
Operating Expenses    
Oil and Gas Production 1,418,010 1,465,954
Production Taxes 169,832 83,959
Depletion, Depreciation and Amortization 180,540 268,018
Impairment of Oil and Natural Gas Properties 0 800,452
Accretion of Discount on Asset Retirement Obligation 284,465 98,954
General and Administrative 906,048 528,983
Total Operating Expenses 2,958,895 3,246,320
Operating Income (Loss) (860,352) 577,124
Other Income and (Expense):    
Gain on Sale of Assets 0 1,143,760
Interest Expense (136,828) (132,869)
Net Income (Loss) $ (997,180) $ 1,588,015
Net Income (Loss) per Common Share, Basic & Diluted $ (0.03) $ 0.08
Weighted Average Number of Common Shares Outstanding, Basic & Diluted 31,819,084 21,050,610