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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Oil Sales $ 13,329,366 $ 4,058,449 $ 23,745,788 $ 6,120,493
Gas Sales 1,446,435 372,178 2,431,858 681,062
Natural Gas Liquids Sales 1,763,546 425,480 3,496,064 473,392
Other 24,913 45,357 48,956 82,975
Net Realized and Unrealized Loss on Derivatives (23,893) (182,034) (136,214) (539,949)
Total Revenue 16,540,367 4,719,430 29,586,452 6,817,973
Costs and Expenses:        
Operating 5,503,850 2,312,932 10,696,532 3,730,942
Taxes - Production 1,137,841 418,681 2,039,079 588,513
Depletion, Depreciation & Amortization 455,799 565,333 890,245 745,873
Accretion of Asset Retirement Obligation 336,488 270,155 666,488 554,620
General and Administrative 3,282,452 3,220,101 5,736,096 4,126,149
Total Cost and Expenses 10,716,430 6,787,202 20,028,440 9,746,097
Operating Income (Loss) 5,823,937 (2,067,772) 9,558,012 (2,928,124)
Other Income and (Expense):        
Other Expense (177,872) (435,584) (177,872) (435,584)
Interest Expense (111,785) (2,768,606) (222,433) (2,905,434)
Net Income (Loss) $ 5,534,280 $ (5,271,962) $ 9,157,707 $ (6,269,142)
Net Income  (Loss) per Common Share:        
Basic $ 0.27 $ (0.35) $ 0.45 $ (0.54)
Diluted $ 0.24 $ (0.35) $ 0.41 $ (0.54)
Weighted Average Number of Common Shares Outstanding,        
Basic 20,424,970 15,176,845 20,145,955 11,601,496
Diluted 23,294,723 15,176,845 22,233,826 11,601,496