Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current assets    
Cash $ 82,593 $ 68,648
Accounts receivable 51,026 199,003
Other current assets 8,993 31,192
Total current assets 142,612 298,843
Property & equipment    
Evaluated properties 14,312,580 13,465,387
Furniture, equipment & software 264,723 200,416
Less accumulated depreciation (1,192,229) (1,119,708)
Net property and equipment 13,385,074 12,546,095
Other Assets    
Intangible assets 49,886 49,886
Note receivable   316,800
Total Assets 13,577,572 13,211,624
Current liabilities    
Accounts payable 413,435 352,241
Accrued liabilities 896,897 494,983
Debt short term   275,000
Convertible debt - related party   550,000
Current maturities of installment notes payable 32,582 26,186
Note payable - related parties 217,100 1,287,980
Total current liabilities 1,560,014 2,986,390
Asset retirement obligations 473,868 322,710
Installment note payable 24,204  
Note payable to related party - long term   2,904,020
Total Liabilities 2,058,086 6,213,120
Stockholders' Equity    
Preferred stock, $0.001 par value; 1,000,000 shares authorized; 197,100 and 0 shares issued and outstanding 197  
Common stock, $.001 par value; 400,000,000 shares authorized; 111,698,222 and 79,034,505 shares issued and outstanding 111,698 79,034
Additional paid in capital 22,730,974 14,887,090
Accumulated deficit (11,323,383) (7,967,620)
Total Stockholders' Equity 11,519,486 6,998,504
Total Liabilities and Stockholders' Equity $ 13,577,572 $ 13,211,624