Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

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BALANCE SHEETS - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current assets    
Cash $ 3,091 $ 24,688
Accounts receivable 48,633 26,176
Other current assets 31,049 40,801
Total current assets 82,773 91,665
Oil and gas, on the basis of full cost accounting    
Evaluated properties 4,733,853 3,715,779
Furniture, equipment & software 108,234 94,283
Less accumulated DD&A (1,045,644) (283,984)
Net property and equipment 3,796,443 3,526,078
Other Assets 316,800  
Total Assets 4,196,016 3,617,743
Current liabilities    
Accounts payable 169,564 99,425
Accrued liabilities 130,582 8,875
Convertible debt - related party, net of discount of $171,573 378,427  
Current maturities of installment notes payable 21,144 18,877
Deferred rent 2,816 2,816
Note Payable - related party 192,875  
Total current liabilities 895,408 129,993
Asset retirement obligations 213,328 100,175
Convertible debt - related party, net of discount of $324,533   225,447
Installment note payable 6,652 26,362
Total Liabilities 1,115,388 481,977
Stockholders' Equity    
Common stock, $.001 par value; 150,000,000 shares authorized; 42,839,958 and 19,353,152 shares issued and outstanding 42,840 19,353
Additional paid in capital 9,129,629 7,351,640
Accumulated deficit (6,091,841) (4,235,227)
Total Stockholders' Equity 3,080,628 3,135,766
Total Liabilities and Stockholders' Equity $ 4,196,016 $ 3,617,743