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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current Assets:    
Cash $ 285,813 $ 0
Accounts Receivable 928,152 982,814
Unrealized Gain on Derivative Instruments 850,674 0
Inventory 567,478 476,305
Prepaids 83,247 129,541
Total Current Assets 2,715,364 1,588,660
Property and equipment:    
Oil and Natural Gas Properties, Successful Efforts 24,702,866 12,660,457
Less: Accumulated Depreciation, Depletion and Impairment (4,918,808) (3,365,340)
Oil and natural gas properties, successful efforts, net 19,784,058 9,295,117
Other Property and Equipment, net of $3,399 and $1,830 Accumulated Depreciation, respectively 11,056 12,626
Total Property and Equipment, net 19,795,114 9,307,743
Utility and other deposits 487,811 118,177
Acquisition deposit, net of allowance of $725,000 and $-0-, respectively (see Note 4) 125,000 0
Total Assets 23,123,289 11,014,580
Current Liabilities:    
Accounts Payable 1,040,036 1,025,585
Accrued Expenses 2,356,024 1,103,916
Unrealized Loss on Derivative Instruments 0 11,861
Current Portion of Long-term Notes Payable 8,731,494 96,704
Total Current Liabilities 12,127,554 2,238,066
Long Term Portion of Unrealized Loss on Derivative Instruments 11,529 211,771
Long-Term Notes Payable 160,700 7,715,118
Contingent Payments (see Note 5) 985,820 0
Asset Retirement Obligations 15,652,761 5,788,280
Total Liabilities 28,938,364 15,953,235
Stockholders' Deficit:    
Common Stock - $.001 Par Value 150,000,000 Shares Authorized, 21,392,277 and 20,367,277 Shares Issued and Outstanding, Respectively 21,392 20,367
Additional Paid-in Capital 19,331,651 18,823,926
Accumulated Deficit (25,168,118) (23,782,948)
Total Stockholders' Deficit (5,815,075) (4,938,655)
Total Liabilities and Stockholders' Deficit $ 23,123,289 $ 11,014,580