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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Revenue:    
Oil Sales $ 22,326,289 $ 5,452,187
Gas Sales 2,593,081 347,355
NGL Sales 3,396,097 100,718
Other 174,609 88,703
Net Realized and Unrealized Gain (Loss) on Derivatives (586,181) 1,738,871
Total Revenue 27,903,895 7,727,834
Costs and Expenses:    
Operating 14,095,708 4,871,755
Taxes - Production 2,102,772 346,101
Depletion, Depreciation & Amortization 2,502,275 3,118,019
Impairment of Oil and Natural Gas Properties 8,671,303
Accretion of Asset Retirement Obligation 1,214,479 929,858
General and Administrative 8,462,031 7,373,804
Total Cost and Expenses 28,377,265 25,310,840
Operating Loss (473,370) (17,583,006)
Other Income and (Expense):    
Convertible Debt Modification Inducement Expense (2,276,813)
Loss on Convertible Debt Redemption Option (3,169,201)
Loss on Embedded Conversion Option (4,504,104)
Gain on Sale of Assets 1,268,760
Other Income 409,225
Interest Expense (8,600,699) (521,187)
Net Loss $ (18,614,962) $ (16,835,433)
Net Loss per Common Share, Basic & Diluted $ (1.27) $ (2.97)
Weighted Average Number of Common Shares Outstanding,    
Basic & Diluted 14,630,168 5,677,008