Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets    
Cash $ 309,815 $ 82,593
Accounts receivable 202,649 51,026
Other current assets 13,024 8,993
Total current assets 525,488 142,612
Oil and gas, on the basis of full cost accounting    
Evaluated properties 14,312,580 14,312,580
Unproved properties not subject to amortization 9,705,590  
Furniture, equipment & software 219,059 264,723
Less accumulated depreciation and depletion (1,180,483) (1,192,229)
Net property and equipment 23,056,746 13,385,074
Other Assets    
Deposits 97,997  
Payments for acquisition of working interest 1,089,482  
Intangible assets 49,886 49,886
Total Assets 24,819,599 13,577,572
Current liabilities    
Accounts payable 1,692,352 413,435
Accrued liabilities 1,008,607 896,897
Notes payable 1,117,458 32,582
Derivative liability 26,845  
Notes payable - related parties 521,627 217,100
Total current liabilities 4,366,889 1,560,014
Asset retirement obligations 485,353 473,868
Notes payable 1,100,470 24,204
Total Liabilities 5,952,712 2,058,086
Stockholders' Equity    
Preferred stock, $0.001 par value, 1,000,000 shares authorized; 199,100 and 197,100 shares issued and outstanding 199 197
Common stock, $0.001 par value; 400,000,000 shares authorized; 228,608,644 and 111,698,222 shares issued and outstanding 228,608 111,698
Additional paid in capital 60,861,222 22,730,974
Accumulated other comprehensive income 37,157  
Accumulated deficit (42,260,299) (11,323,383)
Total Stockholders' Equity 18,866,887 11,519,486
Total Liabilities and Stockholders' Equity $ 24,819,599 $ 13,577,572