ACQUISITION OF XTO OIL AND NATURAL GAS PROPERTIES (Tables)

9 Months Ended

Sep. 30, 2021

Acquisition Of Xto Oil And Natural Gas Properties

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

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

Preliminary Fair Value of Assets Acquired
Inventory of oil in tanks		318,546
Vehicles		179,156
Asset retirement obligation		6,117,709
Oil and natural gas properties		17,662,402
Total Preliminary Assets Acquired	$	24,277,813
Preliminary Fair Value of Liabilities Assumed
Royalty suspense		290,325
Asset retirement obligations		6,117,709
Total Preliminary Liabilities Assumed	$	6,408,034
Purchase Price	$	17,869,779