Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets    
Cash $ 9,216 $ 82,593
Accounts receivable 82,294 51,026
Other current assets 14,390 8,993
Total current assets 105,900 142,612
Property & equipment    
Evaluated properties 14,312,580 14,312,580
Unproved properties not subject to amortization 9,705,590  
Furniture, equipment & software 282,672 264,723
Less accumulated depreciation and depletion (1,217,351) (1,192,229)
Net property and equipment 23,083,491 13,385,074
Other Assets    
Deposits 337,997
Intangible assets 49,886 49,886
Total Assets 23,577,274 13,577,572
Current liabilities    
Accounts payable 1,420,283 413,435
Accrued liabilities 911,052 896,897
Notes payable 1,488,988 32,582
Notes payable - related parties 169,500 217,100
Total current liabilities 3,989,823 1,560,014
Asset retirement obligations 479,507 473,868
Installment note payable - long term 22,509 24,204
Total Liabilities 4,491,839 2,058,086
Stockholders' Equity    
Subscriptions received in advance 22,500  
Preferred stock, $0.001 par value, 1,000,000 shares authorized; 199,100 and 197,100 shares issued & outstanding 199 197
Common stock, $.001 par value; 400,000,000 shares authorized;222,437,810 and 111,698,222 shares issued and outstanding 222,438 111,698
Additional paid in capital 59,531,372 22,730,974
Accumulated other comprehensive income (46,647)  
Accumulated deficit (40,644,427) (11,323,383)
Total Stockholders' Equity 19,085,435 11,519,486
Total Liabilities and Stockholders' Equity $ 23,577,274 $ 13,577,572