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Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Dec. 31, 2019
Current assets      
Cash and cash equivalents $ 4,067,987 $ 6,903,499 $ 12,241,339
Restricted cash – current 2,500,000 2,500,000 2,064,130
Accounts receivable 659,057 1,131,954 350,672
Short-term investment 307,500  
Other assets – current 1,398,200 705,936 418,584
Total current assets 8,932,744 11,241,389 15,074,725
Non-current assets      
Restricted cash -non-current   1,766,700
Property and equipment, net 114,851 131,329 175,437
Oil and gas property – subject to amortization, net 2,214,057 1,338,987 1,427,486
Oil and gas property – not subject to amortization, net 1,129,500 1,113,494 958,133
Deferred charges 1,127,901 1,167,995 1,240,751
Other assets –non-current 666,982 582,614 512,105
Total non-current assets 5,253,291 4,334,419 6,080,612
Total assets 14,186,035 15,575,808 21,155,337
Current liabilities      
Accounts payable 503,532 297,081 917,241
Bank loan 980,452 980,452 1,105,741
Other current liabilities 21,184 19,121 34,250
Accrued expenses 892,883 429,371 576,386
Taxes payable 45,932 101,770 105,450
Total current liabilities 2,443,983 1,827,795 2,739,068
Non-current liabilities      
Asset retirement obligations 321,253 321,253 222,344
Long term loan 1,000,000 1,000,000 2,000,000
Provision for post-employment benefit 68,701 68,701
Total non-current liabilities 1,389,954 1,389,954 2,222,344
Total liabilities 3,833,937 3,217,749 4,961,412
Commitments and contingencies  
Shareholders’ Equity      
Preferred shares (par value $0.00267; 3,750,000 shares authorized, nil shares issued and outstanding as of December 31, 2020 and 2019, respectively) *
Ordinary shares (par value $0.00267; 37,500,000 shares authorized, 7,407,955 and 7,363,637 shares issued and outstanding as of December 31, 2020 and 2019, respectively) (*) 19,847 19,754 19,636
Additional paid-in capital 40,999,246 40,073,087 36,910,568
Accumulated deficit (30,666,995) (27,734,782) (20,783,084)
Accumulated other comprehensive income   46,805
Total shareholders’ equity 10,352,098 12,358,059 16,193,925
Total liabilities and shareholders’ equity $ 14,186,035 $ 15,575,808 $ 21,155,337