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, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Operating Revenues        
Total Revenues $ 6,378,288 $ 809,466 $ 6,499,639 $ 2,504,162
Operating Expenses        
Lease Operating Expenses 188,483 747,374 312,040 2,159,041
Severance and Property Taxes 4,031 44,495 6,605 127,255
Contract Costs 4,897,196   4,897,196  
Depreciation, Depletion, Amortization, and Accretion 68,460 136,726 72,702 463,926
Impairment of Oil and Gas Properties   224,309   755,966
General and Administrative 1,731,795 952,201 3,063,786 2,835,250
Gain on Sales of Assets   (25,808,246)   (25,808,246)
Total Operating Expenses 6,889,965 (23,703,141) 8,352,329 (19,466,808)
Operating Income (Loss) (511,677) 24,512,607 (1,852,690) 21,970,970
Other Expense (Income)        
Interest Expense 37,677 1,268,811 38,524 2,234,107
Other Expense (Income), Net (272,390) 15,430 (326,652) 20,594
Total Other Expenses (234,713) 1,284,241 (288,128) 2,254,701
Net Income (Loss) $ (276,964) $ 23,228,366 $ (1,564,562) $ 19,716,269
Net Income (Loss) Per Common Share        
Basic (in dollars per share) $ (4.40) $ 17,311.77 $ (20.57) $ 22,708.13
Diluted (in dollars per share) $ (4.40) $ 5,135.02 $ (20.57) $ 4,697.02
Weighted Average Number of Common Shares Outstanding        
Basic (in shares) 493,300 1,290 259,432 798
Diluted (in shares) 493,300 4,349 259,432 3,858
Contract Revenue [Member]        
Operating Revenues        
Total Revenues $ 6,285,535   $ 6,285,535  
Oil and Gas Revenue [Member]        
Operating Revenues        
Total Revenues $ 92,753 $ 809,466 $ 214,104 $ 2,504,162