Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

v3.20.2
ACQUISITIONS (Tables)
6 Months Ended
Jun. 30, 2020
ACQUISITIONS  
Schedule of fair values of the assets acquired and the liabilities assumed

Assets acquired:

    

Proved oil and gas properties

$

296,910,774

Joint interest billing receivable

1,464,394

Prepaid assets

 

2,864,554

Liabilities assumed

 

Accounts and revenues payable

 

(1,234,862)

Asset retirement obligations

 

(2,979,645)

Total Identifiable Net Assets

$

297,025,215

Schedule of business acquisition pro forma information

For The Three Months

For The Six Months

Ended June 30, 

Ended June 30, 

    

2019

    

2019

(restated)

(restated)

Oil and Gas Revenues

$

57,999,639

$

99,797,954

Net Income

$

11,403,039

$

15,672,299

Basic Earnings per Share

$

0.17

$

0.23

Diluted Earnings per Share

$

0.17

$

0.23