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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 1,092,748 $ 217
Joint interest billing receivable 7,890 0
Prepaid assets and other current assets 25,000 23,750
Total current assets 1,125,638 23,967
Noncurrent assets:    
Oil and gas property, unproved, full cost 902,089 145,791
Total assets 2,027,727 169,758
Current liabilities:    
Accounts payable and accrued expenses 393,681 270,250
Accounts payable and accrued expenses - related parties 203,484 228,668
Interest payable 79,248 77,563
Advances from related parties 0 628,550
Note payable - related party 0 65,000
Subscription liability 1,761,570 0
Derivative liability 341,306 145,041
Convertible note payable 1,210,000 1,210,000
Total current liabilities 3,989,289 2,625,072
Convertible credit line payable – related party, net of discount of $7,856 and $11,100, respectively 160,472 157,228
Senior secured convertible notes payable, related party, net of discount of $172,778 1,147,181 0
Asset retirement obligation 918 918
Total liabilities 5,297,860 2,783,218
Commitments and contingencies
Stockholders' deficit:    
Preferred stock, 10,000,000 shares authorized:Series A convertible preferred stock, $0.001 par value, 2,000,000 shares authorized and 0 shares issued and outstanding 0 0
Common stock, $0.001 par value, 65,000,000 shares authorized and 18,824,106 shares issued and outstanding 18,824 18,824
Additional paid-in capital 2,853,634 2,739,634
Accumulated deficit (6,142,591) (5,371,918)
Total stockholders' deficit (3,270,133) (2,613,460)
Total liabilities and stockholders' deficit $ 2,027,727 $ 169,758