Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows from Operating Activities    
Net Loss $ (301,942) $ (213,280)
Adjustment to reconcile net loss to net cash provided by/(used in) operating activities:    
Depreciation and amortization 17,532 32,194
Accretion of debt discount 59,177 28,365
ARO accretion 6,428  
Loss on conveyance of PORRI warrants 12,631  
Stock-based compensation expense-employees 127,755 33,778
Changes in operating assets and liabilities    
Accounts receivable (19,049) 5,863
Inventory 30,300  
Other assets 2,268 3,824
Accounts payable 117,423 19,044
Accrued liabilities (13,416) 12,250
Net cash flows used in operating activities 39,107 (77,962)
Cash Flows from Investing Activities    
Capital expenditures on oil and gas properties 114  
Capital expenditures on oil and gas properties (2,850)  
Conveyance of oil and gas properties 24,000  
Cash flows used in investing activities 21,264  
Cash Flows from Financing Activities    
Proceeds from affiliate advances 65,000 60,000
Payments of affiliate advances (60,000)  
Payments on notes payable (1,610) (4,702)
Cash flows provided by financing activities 3,390 55,298
Net change in cash and cash equivalents 63,761 (22,664)
Cash and cash equivalents    
Beginning of period 3,091 24,688
End of period 66,852 2,024
SUPPLEMENTAL DISCLOSURES    
Interest paid 8,825 $ 16,455
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Transfer to Askarii inventory 146,861  
Purchase of Askarii $ 50,000