v3.25.1
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
 2 Months Ended 3 Months Ended 10 Months Ended 12 Months Ended
Dec. 31, 2023
Mar. 31, 2025
Mar. 31, 2024
Nov. 14, 2023
Dec. 31, 2024
Dec. 31, 2023
Operating activities:            
Net loss $ (9,001,202) $ (1,752,231) $ (4,693,502)   $ (9,080,283)  
Adjustments to reconcile net income to net cash provided by operating activities:            
Depreciation, depletion, and amortization expense 352,127 97,075 476,074   2,407,098  
Accretion of asset retirement obligations 11,062 335,771 33,005   144,988  
Equity-based compensation 3,445,965 368,093 699,248   2,778,991  
Deferred income tax benefit (2,365,632) (770,385) (1,201,279)   (3,470,407)  
Amortization of operating lease right-of-use assets        
Amortization of debt issuance costs 1,191,553 337,370 813,181   2,361,627  
Gain on extinguishment of liabilities (92,294)   (1,638,138)  
Change in fair value of unsettled derivatives (443,349) (57,788) 1,860,093   361,290  
Change in fair value of convertible note liability 129,746   192,744  
Change in fair value of warrant liability (187,704) 162,520 624,055   804,004  
Change in fair value of forward purchase agreement (3,268,581) 349,189   (561,099)  
Change in other property, plant, and equipment, net        
Loss on sale of assets        
Changes in operating assets and liabilities:            
Accounts receivable 1,793,055 (174,924) (23,985)   411,240  
Prepaid expenses and other assets (258,431) (275,902) 59,758   423,116  
Related party note receivable interest income        
Accounts payable 8,091,598 (1,723,056) (1,812,255)   3,024,413  
Accounts payable – related parties (138,000)       (316,651)  
Accrued liabilities and other 1,251,677 615,057 3,161,477   3,018,930  
Royalties payable (313,381) 926,300 560,392   2,729,398  
Royalties payable, related party 323,717 47,293 214,394   109,425  
Net cash provided by (used in) operating activities 484,474 (1,827,355) 1,119,845   3,700,686  
Investing activities:            
Development of crude oil and gas properties (238,499) (1,117,540) (571,003)   (3,555,062)  
Purchases of other equipment (20,000)   (20,000)  
Acquisition of business, net of cash acquired (30,827,804)        
Trust Account withdrawals 49,362,479        
Issuance of related party note receivable        
Net cash used in investing activities 18,296,176 (1,117,540) (591,003)   (3,575,062)  
Financing activities:            
Proceeds from issuance of long-term debt 28,000,000        
Payment of debt issuance costs (808,992)        
Repayments of long-term debt (319,297) (1,133,324) (887,174)   (3,984,286)  
Proceeds from short-term notes payable   617,500      
Proceeds of short-term notes payable       1,298,200  
Repayment of short-term notes payable (778,277)   (989,018)  
Proceeds from related party notes payable 250,000   450,000  
Repayment of related party notes payable (33,750)   (62,750)  
Proceeds from sale of common stock 4,341,532   2,628,334  
Redemptions of common stock (44,737,839)        
Net cash provide by (used in) financing activities (17,866,128) 3,047,431 (670,924)   (659,520)  
Net change in cash and cash equivalents 914,522 102,536 (142,082)   (533,896)  
Cash and cash equivalents at beginning of period 2,590,932 2,971,558 3,505,454   3,505,454  
Cash and cash equivalents at end of period 3,505,454 3,074,094 3,363,372 $ 2,590,932 2,971,558 $ 3,505,454
Cash paid during the period for:            
Interest on debt 370,625 1,323,179 1,387,458   6,146,139  
Income taxes 154,000    
Amounts included in the measurement of operating lease liabilities        
Supplemental disclosure of non-cash investing and financing activities:            
Operating lease assets obtained in exchange for operating lease obligations        
Debt discount related to warrants issued with Private Notes Payable   223,908      
Accrued purchases of property and equipment at period end 141,481 $ 476,586 $ 1,295,923   $ 2,540,703  
Predecessor            
Operating activities:            
Net loss       4,970,863    
Adjustments to reconcile net income to net cash provided by operating activities:            
Depreciation, depletion, and amortization expense       1,497,749    
Accretion of asset retirement obligations       843,865    
Equity-based compensation          
Deferred income tax benefit          
Amortization of operating lease right-of-use assets       (403)    
Amortization of debt issuance costs       3,890    
Gain on extinguishment of liabilities          
Change in fair value of unsettled derivatives       (1,215,693)    
Change in fair value of convertible note liability          
Change in fair value of warrant liability          
Change in fair value of forward purchase agreement          
Change in other property, plant, and equipment, net       83,004    
Loss on sale of assets       816,011    
Changes in operating assets and liabilities:            
Accounts receivable       (921,945)    
Prepaid expenses and other assets       26,833    
Related party note receivable interest income       (313,401)    
Accounts payable       1,480,138    
Accounts payable – related parties          
Accrued liabilities and other       753,595    
Royalties payable       157,991    
Royalties payable, related party       8,066    
Net cash provided by (used in) operating activities       8,190,563    
Investing activities:            
Development of crude oil and gas properties       (6,769,557)    
Purchases of other equipment          
Acquisition of business, net of cash acquired          
Trust Account withdrawals          
Issuance of related party note receivable       (190,998)    
Net cash used in investing activities       (6,960,555)    
Financing activities:            
Proceeds from issuance of long-term debt          
Payment of debt issuance costs          
Repayments of long-term debt       (3,000,000)    
Proceeds of short-term notes payable          
Repayment of short-term notes payable          
Proceeds from related party notes payable          
Repayment of related party notes payable          
Proceeds from sale of common stock          
Redemptions of common stock          
Net cash provide by (used in) financing activities       (3,000,000)    
Net change in cash and cash equivalents       (1,769,992)    
Cash and cash equivalents at beginning of period $ 246,323     2,016,315   $ 2,016,315
Cash and cash equivalents at end of period       246,323    
Cash paid during the period for:            
Interest on debt       2,002,067    
Income taxes          
Amounts included in the measurement of operating lease liabilities       56,625    
Supplemental disclosure of non-cash investing and financing activities:            
Operating lease assets obtained in exchange for operating lease obligations          
Accrued purchases of property and equipment at period end       $ 256,237