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 ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows Used in Operating Activities    
Net loss $ (2,788,791) $ (1,301,351)
Adjustment to reconcile net loss to net cash provided by/(used in) operating activities:    
Depreciation and amortization 54,986 50,964
Accretion of debt discount 0 171,573
ARO accretion 36,833 21,232
Finance fee for extension of note payable 60,101 0
Loss on conveyance of ORRI warrants 0 14,336
Interest on ORRI conversion 128,229 0
Guarantor fees 482,586 0
Debt issuance costs 47,319 22,166
Loss on conversion of Jovian debt 88,755 0
Loss on conversion of short term debt 5,422 0
Loss on sale of vehicle 3,677 0
Stock-based compensation expense - employees 278,941 118,425
Stock-based compensation expense - directors 394,154 195,264
Stock-based compensation expense – consultant 101,519 0
Changes in operating assets and liabilities    
Accounts receivable 31,496 (122,056)
Inventory 0 33,330
Other assets 22,547 1,824
Accounts payable 44,642 258,470
Accrued liabilities 326,285 220,775
Net cash flows used in operating activities (681,299) (315,048)
Cash Flows(used in) Provided by Investing Activities    
Cash acquired from investment in Askarii 0 114
Proceeds from sale of property and equipment 0 30,000
Purchase of fixed asset (9,256) (93,476)
Cash flows (used in) provided by investing activities (9,256) (63,362)
Cash Flows Provided by Financing Activities    
Proceeds from shareholder advances 301,600 368,000
Payments of shareholder advances (14,000) (112,000)
Proceeds from issuance of common stock 110,065 48,000
Proceeds from short term loans 0 85,000
Proceeds from issuance of preferred stock 241,000 0
Cash paid for PORRI conversion (3,230) 0
Payments on notes payable (4,107) (1,610)
Cash flows provided by financing activities 631,328 387,390
Net change in cash and cash equivalents (59,227) 8,980
Beginning of period 68,648 3,091
End of period 9,421 12,071
SUPPLEMENTAL DISCLOSURES    
Interest Paid 22,782 24,770
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Initial recognition of asset retirement obligation 101,405 50,296
Purchase of Askarii 0 50,000
Settlement of accounts receivable and other assets for oil and gas properties 465,788 0
Sale of Vehicle to Related Party [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Non-cash transaction, value of consideration given 8,677 0
Note Issued for Purchase of Vehicle [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Note issued 35,677 0
Preferred Shares Issued for Purchase of Equipment [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 30,000 0
Settlement of Debt with Preferred Shares [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 154,000 0
Settlement of Related Party Debt with Preferred Shares [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 925,900 0
Settlement of Debt with Common Shares [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 32,532 0
Settlement of Investment with Preferred Shares [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 405,000 0
Settlement of Related Party Debt with Common Shares and Warrants [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 4,033,151 0
Payment of Affiliated Note Through Share Issuance [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 0 146,876
Settlement of Accounts Payable through Share Issuance [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 0 110,106
Transfer to Askani Inventory [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Non-cash transaction, value of consideration given 0 146,861
Shares Issued in Payment of Shareholder Advance [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 0 150,000
Shares Issued for Oil and Gas Property Interest [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Shares issued 0 4,723,186
Note Issed for Oil and Gas Property Interest [Member]    
NON-CASH INVESTING AND FINANCIAL DISCLOSURES    
Note issued $ 0 $ 4,000,000