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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Current Assets:    
Cash $ 3,187,509 $ 157,695
Accounts Receivable 6,817,718 1,251,634
Unrealized Gain on Oil and Natural Gas Derivatives, Current 41,558
Oil Inventory 1,531,063 531,309
Prepaids 166,225 281,895
Total Current Assets 11,744,073 2,222,533
Property and equipment:    
Oil and Natural Gas Properties, Successful Efforts 45,340,347 22,711,445
Less: Accumulated Depreciation, Depletion and Impairment (17,081,053) (15,148,444)
Oil and natural gas properties, successful efforts, net 28,259,294 7,563,001
Other Property and Equipment, Net 1,285,759 662,017
Total Property and Equipment, Net 29,545,053 8,225,018
Unrealized Gain on Oil and Natural Gas Derivatives, Noncurrent 66,636
Sinking Fund (Note 5) 4,330,000
Other Assets 956,542 802,050
Total Assets 46,642,304 11,249,601
Current Liabilities:    
Accounts Payable 4,264,495 1,937,743
Accrued Expenses 4,233,800 2,697,831
Unrealized Loss on Oil and Natural Gas Derivatives 5,749
Contingent Payment 40,000
Current Portion of Lease Liability 166,453 89,769
Current Portion of Long-term Notes Payable, Net of Discount 1,253,038 1,301,618
Total Current Liabilities 9,917,786 6,072,710
Long-Term Notes Payable 6,515,455 7,719,703
Long Term Notes Payable to Related Party, Net of Discount 2,964,930
Embedded Conversion Option 2,017,287
Long Term Lease Liability 680,784 534,009
Asset Retirement Obligations 20,815,924 15,364,217
Total Liabilities 42,912,166 29,690,639
Stockholders' Equity (Deficit):    
74,323,764 and 24,892,277 Shares Issued and Outstanding, Respectively 74,323 24,892
Common Stock Subscribed (97,388)
Additional Paid-in Capital 54,366,951 22,152,451
Accumulated Deficit (50,613,748) (40,618,381)
Total Stockholders' Equity (Deficit) 3,730,138 (18,441,038)
Total Liabilities and Stockholders' Equity (Deficit) $ 46,642,304 $ 11,249,601