v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current Assets    
Cash $ 63,529 $ 46,738
Accounts receivable 169,938 147,082
Prepaid expenses 21,210
Total Current Assets 233,467 215,030
Properties and Equipment    
Oil and natural gas properties at cost 11,065,307 11,065,307
Less: Accumulated depletion (962,840) (766,901)
Total Properties and Equipment, net 10,102,467 10,298,406
Total Assets 10,335,934 10,513,436
Current Liabilities    
Accounts payable 201,447 113,473
Workover expense payable 23,627 40,334
Accrued salaries and payroll taxes 802,338 1,059,281
Current portion of notes payable 10,139 10,088
Notes payable – related party 103,001 103,001
Total Current Liabilities 1,140,552 1,326,177
Long-term Liabilities    
Asset retirement obligations 575,378 553,538
Note payable, net of current portion 5,925 11,007
Total Long-term Liabilities 581,303 564,545
Total Liabilities 1,721,855 1,890,722
Stockholders’ Equity    
Common stock, $0.01 par value, 300,000,000 current shares authorized, 14,168,755 and 13,998,639 shares issued and outstanding, at June 30, 2025 and December 31, 2024 respectively. 141,687 139,986
Subscription payable 10,000 10,000
Additional paid-in capital 21,185,146 20,846,615
Accumulated deficit (12,722,754) (12,373,887)
Total Stockholders’ Equity 8,614,079 8,622,714
Total Liabilities and Stockholders’ Equity $ 10,335,934 $ 10,513,436