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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Revenue:    
Oil Sales $ 36,684,494 $ 44,978,554
Gas Sales 1,726,754 4,534,370
NGL Sales 1,660,256 3,659,451
Total Product Revenues 40,071,504 53,172,375
Other 70,480 102,429
Gain (Loss) on Derivatives (65,693) (387,930)
Total Revenue 40,076,291 52,886,874
Costs and Expenses:    
Lease Operating Expense 28,625,481 23,584,039
Production and Ad Valorem Taxes 3,044,411 3,943,466
Depletion, Depreciation & Amortization 3,096,533 1,949,191
Accretion of Asset Retirement Obligation 1,756,022 1,357,906
Impairment 936,620
General and Administrative 15,178,935 12,331,489
Total Cost and Expenses 51,701,382 44,102,711
Operating Income (Loss) (11,625,091) 8,784,163
Other Income and (Expense):    
Interest Expense (1,000,427) (509,540)
Other Income (Expense) 23,721 (981,595)
Income (Loss) Before Taxes (12,601,797) 7,293,028
Income Tax (Provision) Benefit 132,192 (208,898)
Net Income (Loss) $ (12,469,605) $ 7,084,130
Net Income (Loss) per Common Share:    
Basic $ (0.55) $ 0.34
Diluted $ (0.55) $ 0.30
Weighted Average Number of Common Shares Outstanding:    
Basic 22,718,890 21,003,563
Diluted 22,718,890 23,387,646