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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current Assets:    
Cash $ 15,733,842 $ 3,611,871
Accounts Receivable 5,981,533 7,733,905
Derivative Instruments 348,665 55,242
Inventory - Oil in Tanks 1,605,357 1,037,880
Prepaids 724,484 679,122
Total Current Assets 24,393,881 13,118,020
Property and Equipment:    
Oil and Natural Gas Properties, Successful Efforts 53,064,338 46,914,326
Less: Accumulated Depreciation, Depletion and Impairment (18,703,073) (17,525,918)
Net 34,361,265 29,388,408
Other Property and Equipment, Net 1,535,765 1,288,611
Total Property and Equipment, Net 35,897,030 30,677,019
Derivative Instruments - Long Term 51,660 194,018
Sinking Fund 5,450,000 4,810,000
Utility and Other Deposits 449,811 1,290,594
Total Assets 66,242,382 50,089,651
Current Liabilities:    
Accounts Payable 4,226,799 4,329,535
Accrued Expenses 7,325,010 5,844,184
Current Portion of Lease Liability 251,117 180,105
Current Portion of Long-Term Notes Payable 1,258,804 1,700,663
Total Current Liabilities 13,061,730 12,054,487
Long-Term Notes Payable 5,174,783 6,117,091
Long-Term Note Payable - PIE (Note 5) 1,399,030 797,010
Long-Term Lease Liability 613,899 646,311
Asset Retirement Obligations 21,722,407 20,640,599
Total Liabilities 41,971,849 40,255,498
Stockholders' Equity:    
Series A Preferred Stock - $.001 Par Value, 10,000,000 Shares Authorized, 6 and 0 Shares Issued and Outstanding, Respectively
Common Stock - $.001 Par Value 190,000,000 Shares Authorized,  21,882,565 and 19,840,648 Shares Issued and Outstanding, Respectively 81,550 79,362
Additional Paid-in Capital 74,048,678 68,988,134
Accumulated Deficit (49,859,695) (59,233,343)
Total Stockholders' Equity 24,270,533 9,834,153
Total Liabilities and Stockholders' Equity $ 66,242,382 $ 50,089,651