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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and equivalents $ 1,447 $ 4,422
Oil and natural gas sales receivable 4,270 933
Marketable equity securities 272 191
Prepaid and other current assets 771 179
Real estate assets held for sale, net of selling costs 250 250
Total current assets 7,010 5,975
Oil and natural gas properties under full cost method:    
Unevaluated properties 1,584 1,588
Evaluated properties 183,495 95,088
Less accumulated depreciation, depletion, amortization and impairment (89,841) (88,195)
Net oil and natural gas properties 95,238 8,481
Pending acquisition 2,767
Cash calls 1,456
Property and equipment, net 488 188
Right-of-use asset 95 120
Deferred tax asset 228
Other assets 503 132
Total assets 105,018 17,663
Current liabilities:    
Accounts payable and accrued liabilities 4,913 1,447
Accrued compensation and benefits 173 1,162
Commodity derivative liability-current 6,478
Asset retirement obligations-current 1,352
Premium finance note 535
Warrant liability 19
Current lease obligation 104 114
Total current liabilities 13,555 2,742
Credit facility 3,500
Commodity derivative liability-noncurrent 1,867
Asset retirement obligations- noncurrent 9,938 1,461
Other long-term liabilities 7 25
Total liabilities 28,867 4,228
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Common stock, $0.01 par value; unlimited shares authorized; 24,923,812 and 4,676,301 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively 249 47
Additional paid-in capital 215,174 149,276
Accumulated deficit (139,272) (135,888)
Total shareholders’ equity 76,151 13,435
Total liabilities and shareholders’ equity $ 105,018 $ 17,663