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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash $ 7,792,508 $ 11,944,442
Accounts Receivable 8,354,636 7,780,239
Derivative Instruments 406,806 121,584
Inventory 1,433,454 1,840,274
Prepaids 757,500 1,048,434
Total Current Assets 18,744,904 22,734,973
Property and Equipment:    
Oil and Natural Gas Properties, Successful Efforts 93,509,803 63,986,339
Less: Accumulated Depreciation, Depletion and Impairment (22,996,805) (20,116,696)
Total Oil and Gas Properties, Net 70,512,998 43,869,643
Other Property and Equipment, Net 1,883,211 1,441,529
Total Property and Equipment, Net 72,396,209 45,311,172
Sinking Fund 2,779,000
Other Noncurrent Assets 1,474,503 719,930
Total Assets 92,615,616 71,545,075
Current Liabilities:    
Accounts Payable 16,437,219 5,843,366
Accrued Expenses 7,075,302 9,461,010
Current Portion of Lease Liability 432,822 256,975
Current Portion of Note Payable - Related Party (Note 4 and 7) 1,060,004
Current Portion of Long-Term Debt 44,225 2,059,309
Total Current Liabilities 25,049,572 17,620,660
Long-Term Debt 4,596,775 4,063,115
Long-Term Note Payable - Related Party (Note 4 and 7) 1,076,987
Long Term Lease Liability 544,382 547,692
Asset Retirement Obligations 27,468,427 25,000,740
Total Liabilities 57,659,156 48,309,194
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, 25,503,530 and 22,093,503 Shares Issued and Outstanding, Respectively 85,025 81,615
Additional Paid-in-Capital 99,490,253 75,303,479
Accumulated Deficit (64,618,818) (52,149,213)
Total Stockholders' Equity 34,956,460 23,235,881
Total Liabilities and Stockholders' Equity $ 92,615,616 $ 71,545,075