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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and equivalents $ 1,136 $ 1,532
Oil and natural gas sales receivable 599 716
Marketable equity securities 231 307
Prepaid and other current assets 462 138
Total current assets 2,428 2,693
Oil and natural gas properties under full cost method:    
Unevaluated properties 3,741 3,741
Evaluated properties 89,684 89,113
Less accumulated depreciation, depletion and amortization (84,506) (84,400)
Net oil and natural gas properties 8,919 8,454
Other assets:    
Property and equipment, net 2,085 2,115
Right-of-use asset 167 179
Other assets 65 26
Total other assets 2,317 2,320
Total assets 13,664 13,467
Current liabilities:    
Accounts payable and accrued liabilities 1,015 974
Accrued compensation and benefits 31 191
Insurance premium finance note payable 174
Current lease obligation 59 58
Total current liabilities 1,279 1,223
Noncurrent liabilities:    
Asset retirement obligations 988 819
Warrant liability 79 73
Long-term lease obligation, net of current portion 127 142
Other long-term liabilities 6
Total noncurrent liabilities 1,200 1,034
Total liabilities 2,479 2,257
Commitments and contingencies (Note 8)
Preferred stock: Authorized 100,000 shares, 50,000 shares of Series A Convertible (par value $0.01) issued and outstanding; liquidation preference of $3,328 and $3,228 as of March 31, 2020 and December 31, 2019, respectively 2,000 2,000
Shareholders' equity:    
Common stock, $0.01 par value; unlimited shares authorized; 1,399,754 and 1,340,583 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively 14 13
Additional paid-in capital 137,156 136,876
Accumulated deficit (127,985) (127,679)
Total shareholders' equity 9,185 9,210
Total liabilities, preferred stock and shareholders' equity $ 13,664 $ 13,467