Acquisition of XTO Properties (Tables)

6 Months Ended

Jun. 30, 2022

Acquisition Of Xto 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:

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