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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and equivalents $ 1,039 $ 1,532
Oil and natural gas sales receivable 199 716
Marketable equity securities 109 307
Prepaid and other current assets 355 138
Real estate assets held for sale, net of selling costs 725
Total current assets 2,427 2,693
Oil and natural gas properties under full cost method:    
Unevaluated properties 1,694 3,741
Evaluated properties 92,615 89,113
Less accumulated depreciation, depletion, amortization and impairment (87,611) (84,400)
Net oil and natural gas properties 6,698 8,454
Other assets:    
Property and equipment, net 275 2,115
Right-of-use asset 141 179
Other assets 65 26
Total other assets 481 2,320
Total assets 9,606 13,467
Current liabilities:    
Accounts payable and accrued liabilities 888 974
Accrued compensation and benefits 257 191
Related party secured note payable 375
Insurance premium note payable 42
Current lease obligation 63 58
Total current liabilities 1,625 1,223
Noncurrent liabilities:    
Asset retirement obligations 1,229 819
Warrant liability 137 73
Long-term lease obligation, net of current portion 95 142
Other long-term liabilities 6
Total noncurrent liabilities 1,467 1,034
Total liabilities 3,092 2,257
Commitments and contingencies (Note 9)
Preferred stock: Authorized 100,000 shares, 50,000 shares of Series A Convertible (par value $0.01) issued and outstanding; liquidation preference of $3,538 and $3,228 as of September 30, 2020 and December 31, 2019, respectively 2,000 2,000
Shareholders' equity:    
Common stock, $0.01 par value; unlimited shares authorized; 1,449,754 and 1,340,583 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively 15 13
Additional paid-in capital 137,848 136,876
Accumulated deficit (133,349) (127,679)
Total shareholders' equity 4,514 9,210
Total liabilities, preferred stock and shareholders' equity $ 9,606 $ 13,467