CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash	$ 89,730	$ 840,163
Accounts receivable	199,462	179,702
Production revenue receivable	100,546	294,715
Subscription receivable	250,000	0
Prepayments - development costs	0	146,422
Prepaid expenses	96,006	60,980
Total current assets	735,744	1,521,982
Oil and gas properties, net	40,182,043	36,565,461
Office equipment, net	6,348	4,076
Other assets	0	6,362
TOTAL ASSETS	40,924,135	38,097,881
Current liabilities:
Accounts payable	1,444,002	729,806
12% 2020 Unsecured promissory notes, net of $127,170 of discount and financing costs	8,437,127	0
10% 2021 Convertible promissory notes payable	540,000	0
Notes payable	2,000,000	0
Accrued payroll	996,176	816,176
Related party payables	45,000	45,000
Due to working interest owners	54,320	54,320
Accrued interest payable	445,861	553,370
Total current liabilities	13,962,486	2,198,672
12% 2021 Unsecured promissory notes, net of $59,297 of discount and financing costs	3,940,703	11,862,080
8% 2021 Convertible promissory notes payable, net of $1,186,029 of discount and BCF	773,971	0
Note payable after and accrued interest	7,157,260	6,000,000
Asset retirement obligation	23,319	14,353
Total Liabilities	25,857,739	20,075,105
Commitments and contingencies
Stockholders' equity:
Preferred stock, par value $0.001, 10,000,000 shares authorized; -0- issued and outstanding at December 30, 2019 and December 31, 2018	0	0
Common stock, par value $0.001 per share; 150,000,000 shares authorized; 76,222,042 issued and outstanding at December 30, 2019 70,112,376 issued and outstanding at December 31, 2018	76,225	70,116
Additional paid-in capital	114,143,872	107,266,965
Accumulated deficit	(99,153,701)	(89,314,305)
Total stockholders' equity	15,066,396	18,022,776
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 40,924,135	$ 38,097,881