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, 2017
Mar. 31, 2016
Cash Flows from Operating Activities    
Net loss $ (463,270) $ (301,942)
Adjustment to reconcile net loss to net cash provided by/(used in) operating activities:    
Depreciation and amortization 18,273 17,532
Accretion of debt discount 0 59,177
ARO accretion 11,930 6,428
Finance fee for extension of note payable 31,660 0
Loss on conveyance of PORRI warrants 0 12,631
Stock-based compensation expense - employees 13,351 127,755
Stock-based compensation expense – directors 12,127 0
Stock-based compensation expense – consultants 19,302 0
Changes in operating assets and liabilities    
Accounts receivable 1,815 (19,049)
Inventory 0 30,300
Other assets 25,686 2,268
Accounts payable 50,102 117,423
Accrued liabilities 89,228 (13,416)
Net cash flows from operating activities (189,796) 39,107
Cash Flows from Investing Activities    
Capital expenditures on oil and gas properties 0 114
Capital expenditures on oil and gas properties 0 (2,850)
Conveyance of oil and gas properties 0 24,000
Cash flows from investing activities 0 21,264
Cash Flows from Financing Activities    
Proceeds from affiliate advances 126,500 65,000
Payments of affiliated advances 0 (60,000)
Payments on notes payable (965) (1,610)
Cash flows from financing activities 125,535 3,390
Net change in cash and cash equivalents (64,261) 63,761
Beginning of period 68,648 3,091
End of period 4,387 66,852
SUPPLEMENTAL DISCLOSURES    
Interest Paid 8,318 8,825
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Transfer to Askarii inventory 0 146,861
Debt conversion, original debt amount 0 42,000
Purchase of Askarii 0 50,000
Initial recognition of asset retirement obligation 101,405 0
Settlement of accounts receivable and other assets for oil and gas properties 465,788 0
Note payable for vehicle purchase $ 35,677 $ 0