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Subsequent Events | 6 Months Ended
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Jun. 30, 2023
Subsequent Events [Abstract] |
Subsequent Events | Note 16 – Subsequent Events In July 2023, the Company’s Chief Operating Officer separated from the Company and will receive severance of $145,000 over the next six months. In July 2023, Energy Evolution exercised its warrants for 500,000 shares of common stock for $5.00 per share. The Company received $2.5 million in July 2023. On August 9, 2023, the Company and EEF Acquisition Company LLC (“EEF Acquisition”) a subsidiary of Energy Evolution collectively acquired additional working interests in certain of the Company’s New Mexico properties.  The total purchase price was $6.7 million.  EEF Acquisition paid $5.0 million of the purchase price and was assigned an undivided 90% ownership interest of the acquired interests. The Company has a three-year option to purchase EEF Acquisition’s interest (“Purchase Option”). In exchange for the Purchase Option, the Company will initially issue 67,000 shares of common stock. To the extent the Purchase Option is not exercised, the Company will issue an additional 42,000 shares of common stock in each of the two successive periods prior to the end of the one-year period then in effect. The Purchase Option may be exercised by the Company at any time during the one-year period then in effect by sending written notice to Energy Evolution prior to the expiration of such one-year period.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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