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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows Used in Operating Activities    
Net loss $ (775,003) $ (2,478,426)
Adjustments to reconcile net loss to net cash from operations:    
Gain on sale of property interests
Accretion expense 5,903 5,865
Expense related to stock based compensation 4,341 245,160
Change in:    
Accounts receivable (35,613)
Prepayments - development costs (97,027) 150,000
Prepaid expenses 20,437 11,117
Accounts payable and accrued expenses (2,436,608) 1,490,628
Net cash used in operating activities (3,313,570) (575,656)
Cash Flows From (Used in) Investing Activities    
Investment in oil and natural gas properties (10,477) (8,437,883)
Proceeds from sale of assets 1,141,142
Net cash from (used in) investing activities 1,130,665 (8,437,883)
Cash Flows From Financing Activities    
Proceeds from notes payable, related party 1,000,000 14,875,000
Proceeds form promissory note 2,000,000
Payments on promissory notes (1,129,112)
Prepayments, working interest owners (311,281)
Net cash from financing activities 2,688,719 13,745,888
Net increase in cash 505,814 4,732,349
Cash - beginning of period 1,668,847 569,298
Cash - end of period 2,174,661 5,301,647
Supplemental disclosure of cash flow information:    
Cash paid for interest 129,112
Supplemental disclosure of non-cash investing and financing activities:    
Common stock issued in property acquisition 1,243,565
Addition to note payable to reimburse lease payments 278,054
Capitalized Interest $ 702,697 $ 492,860