Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF OPERATIONS

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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Oil and gas sales $ 123,246 $ 187,976
Equipment sales to related party 198,000 0
Total Revenue 321,246 187,976
Operating expenses    
Cost of equipment sold 33,330 0
Lease operating expense 304,199 250,303
General and administrative expenses 1,433,182 706,456
Depreciation, depletion and amortization 74,065 94,964
Asset retirement obligation accretion 38,998 11,856
Impairment of oil & gas properties 0 668,073
Total Operating Expense 1,883,774 1,731,652
Loss from Operations (1,562,528) (1,543,676)
Interest (expense) (359,239) (241,778)
Other income (expense) 60,324 38,719
Loss on warrants issued for PORRI (14,336) 0
Loss on conversion of debt 0 (109,879)
Total other income (expense) (313,251) (312,938)
Net loss from continuing operations before taxes (1,875,779) (1,856,614)
Income tax provision (benefit) 0 0
Net Loss $ (1,875,779) $ (1,856,614)
Loss per share    
(Basic and fully diluted) (in Dollars per share) $ (0.03) $ (0.07)
Weighted average number of common shares outstanding, basic and diluted (in Shares) 54,541,922 24,875,600