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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current Assets:    
Cash $ 11,944,442 $ 3,611,871
Accounts Receivable 7,780,239 7,733,905
Derivative Instruments 121,584 55,242
Inventory - Oil in Tanks 1,840,274 1,037,880
Prepaids 1,048,434 679,122
Total Current Assets 22,734,973 13,118,020
Property and Equipment:    
Oil and Natural Gas Properties, Successful Efforts 63,986,339 46,914,326
Less: Accumulated Depreciation, Depletion and Impairment (20,116,696) (17,525,918)
Total Oil and Gas Properties, Net 43,869,643 29,388,408
Other Property and Equipment, Net 1,441,529 1,288,611
Total Property and Equipment, Net 45,311,172 30,677,019
Derivative Instruments - Long Term 194,018
Sinking Fund 2,779,000 4,810,000
Utility and Other Deposits 719,930 1,290,594
Total Assets 71,545,075 50,089,651
Current Liabilities:    
Accounts Payable 5,843,366 4,329,535
Accrued Expenses 9,461,010 5,844,184
Current Portion of Lease Liability 256,975 180,105
Current Portion of Long-Term Debt 2,059,309 1,700,663
Total Current Liabilities 17,620,660 12,054,487
Long-Term Debt 4,063,115 6,117,091
Long-Term Note Payable - Related Party (Note 5 and 9) 1,076,987 797,010
Long Term Lease Liability 547,692 646,311
Asset Retirement Obligations 25,000,740 20,640,599
Total Liabilities 48,309,194 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,  22,093,503 and 19,840,648 Shares Issued and Outstanding, Respectively 81,615 79,362
Additional Paid-in Capital 75,303,479 68,988,134
Accumulated Deficit (52,149,213) (59,233,343)
Total Stockholders' Equity 23,235,881 9,834,153
Total Liabilities and Stockholders' Equity $ 71,545,075 $ 50,089,651