v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Operating Revenues        
Crude Oil $ 73,301 $ 222,702 $ 455,322 $ 897,952
Natural Gas 13,114 567,982 753,057 1,648,387
Natural Gas Liquids 41,522 1,365,100 1,423,720 2,994,303
Total Revenues 127,937 2,155,784 2,632,099 5,540,642
Operating Expenses        
Lease Operating Expenses 441,312 1,194,629 2,600,353 3,642,733
Severance and Property Taxes 5,937 113,778 133,192 277,580
Depreciation, Depletion, Amortization, and Accretion 1,026 436,776 464,952 1,443,765
Impairment of Oil and Gas Properties 548,819 1,875,000 1,304,785 4,025,374
(Gain)/Loss on Sales of Oil and Gas Properties 3,851,461 (25,808,246) 3,850,266
General and Administrative 677,566 2,767,610 3,512,816 5,480,803
Total Operating Expenses 1,674,660 10,239,254 (17,792,148) 18,720,521
Operating Income (Loss) (1,546,723) (8,083,470) 20,424,247 (13,179,879)
Other Expense (Income)        
Interest Expense 202,669 943,356 2,436,776 5,106,697
Other Expense (Income), Net (163,308) 69,983 (142,714) 105,327
Total Other Expenses 39,361 1,013,339 2,294,062 5,212,024
Net Income (Loss) $ (1,586,084) $ (9,096,809) $ 18,130,185 $ (18,391,903)
Net Income (Loss) Per Common Share        
Basic (in dollars per share) $ (0.64) $ (97.76) $ 6.39 $ (281.74)
Diluted (in dollars per share) $ (0.64) $ (97.76) $ 0.42 $ (281.74)
Weighted Average Number of Common Shares Outstanding        
Basic (in shares) 4,998,262 98,303 2,335,991 69,651
Diluted (in shares) 4,998,262 98,303 35,237,930 69,651

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