XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue:    
Oil Sales $ 8,938,715 $ 10,416,422
Gas Sales 656,035 883,902
Natural Gas Liquids Sales 504,954 1,215,494
Total Product Revenues 10,099,704 12,515,818
Other 19,364 24,043
Gain (Loss) on Derivatives (66,823) (112,321)
Total Revenue 10,052,245 12,427,540
Costs and Expenses:    
Lease Operating Expense 6,520,163 4,572,401
Production and Ad Valorem Taxes 758,114 901,238
Depletion, Depreciation & Amortization 622,489 434,446
Accretion of Asset Retirement Obligation 401,275 330,000
General and Administrative 3,972,918 2,455,380
Total Costs and Expenses 12,274,959 8,693,465
Operating Income (Loss) (2,222,714) 3,734,075
Other Income and (Expense):    
Interest Expense (237,299) (110,648)
Other Income (Expense) 422
Income (Loss) Before Income Taxes (2,459,591) 3,623,427
Income Tax (Provision) Benefit
Net Income (Loss) $ (2,459,591) $ 3,623,427
Net Income  (Loss) per Common Share:    
Basic $ (0.11) $ 0.18
Diluted $ (0.11) $ 0.15
Weighted Average Number of Common Shares Outstanding:    
Basic 22,096,796 19,866,687
Diluted 22,096,796 24,018,453