Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets    
Cash $ 10,684 $ 13,779
Accounts receivable 195,184
Other current assets 132,543 255,180
Total current assets 338,411 268,959
Oil and gas, on the basis of full cost accounting    
Evaluated properties 12,847,294 12,794,285
Furniture, equipment & software 201,110 201,110
Less accumulated depreciation and depletion (799,863) (586,488)
Net property and equipment 12,248,541 12,408,907
Total Assets 12,586,952 12,677,866
Current liabilities    
Accounts payable 381,136 264,654
Accounts payable - related parties 42,766 42,494
Accrued liabilities 607,776 608,357
Accrued liabilities - related parties 730,436 649,633
Notes payable 423,963 335,877
Notes payable - related parties 550,242 610,748
Total current liabilities 2,736,319 2,511,763
Asset retirement obligations 1,546,386 1,509,622
Notes payable 724,295 725,999
Derivative liability 17,938 37,013
Total Liabilities 5,024,938 4,784,397
Stockholders' Equity    
Preferred stock, $0.001 par value, 1,000,000 shares authorized; 199,100 shares issued and outstanding 199 199
Common stock, $0.001 par value; 400,000,000 shares authorized; 162,673,726 shares issued and outstanding 162,674 162,674
Additional paid in capital 57,391,179 57,253,595
Accumulated other comprehensive income (2,982) 8,273
Accumulated deficit (49,989,056) (49,531,272)
Total Stockholders' Equity 7,562,014 7,893,469
Total Liabilities and Stockholders' Equity $ 12,586,952 $ 12,677,866