Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets    
Cash $ 9,421 $ 68,648
Accounts receivable 18,520 199,003
Other current assets 8,646 31,192
Total current assets 36,587 298,843
Property & equipment    
Evaluated properties 14,312,580 13,465,387
Furniture, equipment & software 264,723 200,416
Less accumulated depreciation (1,172,746) (1,119,708)
Net property and equipment 13,404,557 12,546,095
Other Assets    
Intangible assets 49,886 49,886
Note receivable 0 316,800
Total Assets 13,491,030 13,211,624
Current liabilities    
Accounts payable 396,883 352,241
Accrued liabilities 768,607 494,983
Debt short term 0 275,000
Convertible debt – related party, unamortized discount of 0 and 0 0 550,000
Current maturities of installment notes payable 32,582 26,186
Note payable – related parties 212,100 1,287,980
Total current liabilities 1,410,172 2,986,390
Asset retirement obligations 460,947 322,710
Installment note payable – long term 25,174 0
Note payable to related party – long term   2,904,020
Total Liabilities 1,896,293 6,213,120
Stockholders’ Equity    
Preferred stock, $0.001 par value, 1,000,000 shares authorized; 197,100 and 0 shares issued & outstanding 197 0
Common stock, $.001 par value; 400,000,000 shares authorized; 108,239,887 and 79,034,505 shares issued and outstanding 108,240 79,034
Additional paid in capital 22,242,711 14,887,090
Accumulated deficit (10,756,411) (7,967,620)
Total Stockholders’ Equity 11,594,737 6,998,504
Total Liabilities and Stockholders’ Equity $ 13,491,030 $ 13,211,624