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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash $ 1,294,850 $ 11,944,442
Accounts Receivable 7,693,297 7,780,239
Derivative Instruments 26,511 121,584
Inventory 1,538,429 1,840,274
Prepaids 1,464,599 1,048,434
Total Current Assets 12,017,686 22,734,973
Property and Equipment:    
Oil and Natural Gas Properties, Successful Efforts 69,985,772 63,986,339
Less: Accumulated Depreciation, Depletion and Impairment (21,336,969) (20,116,696)
Total Oil and Gas Properties, Net 48,648,803 43,869,643
Other Property and Equipment, Net 1,526,558 1,441,529
Total Property and Equipment, Net 50,175,361 45,311,172
Sinking Fund 2,779,000
Utility and Other Deposits 746,886 719,930
Total Assets 62,939,933 71,545,075
Current Liabilities:    
Accounts Payable 4,158,650 5,843,366
Accrued Expenses 5,815,927 9,461,010
Current Portion of Lease Liability 310,422 256,975
Current Portion of Long-Term Debt 2,315,816 2,059,309
Total Current Liabilities 12,600,815 17,620,660
Long-Term Debt 2,994,500 4,063,115
Long-Term Note Payable - Related Party (Note 8) 1,060,004 1,076,987
Long-Term Lease Liability 513,853 547,692
Asset Retirement Obligations 27,455,066 25,000,740
Total Liabilities 44,624,238 48,309,194
Commitments and Contingencies (Note 15)
Stockholders' Equity:    
Series A Preferred Stock - $.001 Par Value, 10,000,000 Shares Authorized, 6 and 6 Shares Issued and Outstanding, Respectively
Common Stock - $.001 Par Value, 190,000,000 Shares Authorized,  22,124,592 and 22,093,503 Shares Issued and Outstanding, Respectively 81,646 81,615
Additional Paid-in Capital 75,307,762 75,303,479
Accumulated Deficit (57,073,713) (52,149,213)
Total Stockholders' Equity 18,315,695 23,235,881
Total Liabilities and Stockholders' Equity $ 62,939,933 $ 71,545,075