ACQUISITION OF PARDUS OIL AND NATURAL GAS PROPERTIES (Tables)

6 Months Ended

Jun. 30, 2021

Extractive Industries [Abstract]

The following table sets forth the Company's purchase price allocation:

The following table sets forth the Company's purchase price allocation:

Fair Value of Assets Acquired
Accounts receivable	$	100,208
Inventory of oil in tanks		147,297
Deposits		378,000
Equipment and gathering lines		109,200
Oil and natural gas properties		10,397,821
Total Assets Acquired	$	11,132,526

Fair Value of Liabilities Assumed
Accounts payable – trade	$	20,455
Note payable – current		378,000
Royalty suspense		1,185,587
Asset retirement obligations		9,508,484
Total liabilities assumed	$	11,092,526
Purchase Price	$	40,000