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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows From Operating Activities:    
Net Income (Loss) $ (12,469,605) $ 7,084,130
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided By Operating Activities:    
Stock-Based Compensation 3,144,750 2,716,752
Amortization of Right of Use Assets 423,689 263,847
Depreciation, Depletion and Amortization 3,096,533 1,949,191
Accretion of Asset Retirement Obligation 1,756,022 1,357,906
Loss on Derivatives 65,693 387,930
Settlement on or Purchases of Derivative Instruments (353,695) (260,266)
Impairment 936,620
Loss on XTO Final Settlement 1,448,363
PIE-Related Expense (See Note 4) 1,399,030
Change in Operating Assets and Liabilities:    
Accounts Receivable (2,700,528) (1,812,230)
Inventory, Oil in Tanks (160,827) (802,394)
Prepaids, Current 745,648 (369,312)
Other Long Term Assets and Liabilities (1,103,607) (387,292)
Accounts Payable 751,355 526,682
Accrued Expenses (3,082,928) 3,616,826
Net Cash Provided By (Used In) Operating Activities (9,887,500) 18,055,783
Cash Flows from Investing Activities:    
Acquisition of Oil and Natural Gas Properties (2,094,419) (2,702,613)
Capital Expenditures - Oil and Natural Gas Properties [1] (14,546,873) (10,161,711)
Purchase of Other Fixed Assets (352,851) (311,229)
Cash Paid for Right of Use Assets (552,196) (268,934)
Sinking Fund Deposit 2,779,000 2,031,000
Net Cash Used In Investing Activities (14,767,339) (11,413,487)
Cash Flows from Financing Activities:    
Proceeds from Debt Issued 14,492,484
Principal Payments of Debt (6,450,774) (1,699,840)
Proceeds from Stock Issuance and Warrant Exercises 12,461,195 3,390,115
Net Cash Provided By Financing Activities 20,502,905 1,690,275
Net Change in Cash (4,151,934) 8,332,571
Cash - Beginning of Period 11,944,442 3,611,871
Cash - End of Period 7,792,508 11,944,442
Supplemental Cash Flow Information:    
Cash Paid for Interest $ 650,637 $ 473,205
[1] Incurred capital expenditures were $25,053,107 and $11,206,207 for the respective periods. The differences between incurred and cash capital expenditures is due to changes in related accounts payable.