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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Oil Sales $ 10,341,280 $ 9,492,127 $ 32,070,516 $ 27,578,453
Gas Sales 8,547 411,217 269,844 1,315,938
NGL Sales 541,755 411,624 1,574,995 1,278,759
Total Product Revenues 10,891,582 10,314,968 33,915,355 30,173,150
Other 15,269 17,050 36,582 54,775
Gain (Loss) on Commodity Derivatives 470,717 (1,185,921) (388,886) (1,319,401)
Total Revenue 11,377,568 9,146,097 33,563,051 28,908,524
Costs and Expenses:        
Lease Operating Expense 6,733,611 7,050,054 21,663,719 20,669,217
Production and Ad Valorem Taxes 984,075 792,241 2,883,240 2,271,630
Depletion, Depreciation & Amortization 2,596,360 727,943 6,763,471 2,061,474
Accretion of Asset Retirement Obligation 509,131 470,505 1,486,929 1,277,141
General and Administrative Expense:        
General and Administrative Expense 3,635,917 2,580,464 8,869,034 7,497,947
Stock-Based Compensation 335,077 158,792 1,636,714 2,289,237
Total General and Administrative Expense 3,970,994 2,739,256 10,505,748 9,787,184
Total Costs and Expenses 14,794,171 11,779,999 43,303,107 36,066,646
Operating Income (Loss) (3,416,603) (2,633,902) (9,740,056) (7,158,122)
Other Income and (Expense):        
Interest Expense (196,306) (249,796) (1,246,575) (671,982)
Other Income (Expense) (Note 8) (26,705) 1,350 (1,017,950) 23,256
Income (Loss) Before Income Taxes (3,639,614) (2,882,348) (12,004,581) (7,806,848)
Income Tax (Provision) Benefit 134,720 134,720
Net Income (Loss) $ (3,639,614) $ (2,747,628) $ (12,004,581) $ (7,672,128)
Net Income (Loss) per Common Share:        
Basic $ (0.12) $ (0.12) $ (0.41) $ (0.34)
Diluted $ (0.12) $ (0.12) $ (0.41) $ (0.34)
Weighted Average Number of Common Shares Outstanding:        
Basic 31,619,333 22,727,639 29,055,331 22,320,207
Diluted 31,619,333 22,727,639 29,055,331 22,320,207