Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Operating Revenues        
Crude Oil $ 181,952 $ 217,211 $ 382,021 $ 675,250
Natural Gas 266,430 457,389 739,943 1,080,405
Natural Gas Liquids 361,084 807,453 1,382,198 1,629,203
Total Revenues 809,466 1,482,053 2,504,162 3,384,858
Operating Expenses        
Lease Operating Expenses 747,374 1,345,209 2,159,041 2,448,104
Severance and Property Taxes 44,495 78,938 127,255 163,802
Depreciation, Depletion, Amortization, and Accretion 136,726 434,948 463,926 1,006,989
Impairment of Oil and Gas Properties 224,309 1,375,000 755,966 2,150,374
Gain on Sales of Oil and Gas Properties (25,808,246)   (25,808,246)  
General and Administrative 952,201 1,264,255 2,835,250 2,713,193
Total Operating Expenses (23,703,141) 4,498,350 (19,466,808) 8,482,462
Operating Income (Loss) 24,512,607 (3,016,297) 21,970,970 (5,097,604)
Other Expense (Income)        
Interest Expense 1,268,811 3,231,778 2,234,107 4,163,341
Other Expense (Income), Net 15,430 (1,959) 20,594 34,149
Total Other Expenses 1,284,241 3,229,819 2,254,701 4,197,490
Net Income (Loss) $ 23,228,364 $ (6,246,116) $ 19,716,269 $ (9,295,094)
Net Income (Loss) Per Common Share        
Basic (in dollars per share) $ 0.58 $ (4.28) $ 0.79 $ (7.25)
Fully Diluted (in dollars per share) $ 0.16 $ (4.28) $ 0.15 $ (7.25)
Weighted Average Number of Common Shares Outstanding        
Basic (in shares) 40,325,026 1,543,467 24,939,537 1,381,147
Fully Diluted (in shares) 135,901,454 1,543,467 120,517,364 1,381,147