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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities:    
Net Income (Loss) $ 3,623,427 $ (997,180)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided By (Used In) Operating Activities:    
Stock Compensation and Issuances 376,284
Amortization of Right of Use Assets 39,706 3,214
Depreciation, Depletion and Amortization 434,446 180,540
Accretion of Asset Retirement Obligation 330,000 284,465
Amortization of Loan Issue Costs 14,587
Change in Operating Assets and Liabilities:    
Accounts Receivable (757,466) (29,922)
Unrealized Loss on Derivatives 29,061 229,971
Inventory, Oil in Tanks 62,202 (275,100)
Prepaids, Current 137,010
Other Assets 65,797
Accounts Payable (1,654,437) 167,775
Accrued Expenses 440,471 (270,253)
Net Cash Provided By (Used In) Operating Activities 3,060,704 (626,106)
Cash Flows from Investing Activities:    
Acquisition of Oil and Natural Gas Properties (40,000)
Earnest Deposit for Acquisition of Oil and Natural Gas Properties (1,780,000)
Additions to Oil and Natural Gas Properties (424,651)
Purchase of Other Fixed Assets (9,030) (141,973)
Cash Paid for Right of Use Assets (42,833)
Sinking Fund Deposit (480,000)
Net Cash Used In Investing Activities (956,514) (1,961,973)
Cash Flows from Financing Activities:    
Proceeds from Debt Issued 141,668
Principal Payments of Debt (459,952) (281,308)
Proceeds from Warrant Exercise 97,500 3,349,052
Proceeds from Stock and Warrant Issuance 3,135,650
Net Cash Provided By (Used In) Financing Activities (362,452) 6,345,062
Net Change in Cash 1,741,738 3,756,983
Cash - Beginning of Period 3,611,871 157,695
Cash - End of Period 5,353,609 3,914,678
Supplemental Cash Flow Information:    
Cash Paid for Interest 104,981 123,310
Non-cash Investing and Financing Activities:    
Equipment purchased utilizing note payable 141,668
Note Payable Activity - PIE Agreement (see Note 5) $ 18,687 $ 130,338