Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Jun. 30, 2019
Jun. 30, 2018
OPERATING ACTIVITIES    
Net Loss $ (12,716,099) $ (2,053,497)
Adjustments to Reconcile Net Loss to Net Cash (Used In) Provided By Operating Activities:    
Impairment of Oil and Natural Gas Properties 4,252,539  
Depreciation 3,884 3,712
Stock Based Compensation 558,018 850,798
Loss on Derivative Financial Instruments 123,391  
Stock Issued for Services   17,145
Debt Discount Amortization 249,670 254,501
Loss Recorded to Interest Expense for Issuance of Convertible Notes 1,726,149  
Loss on Debt Extinguishment 5,099,340 217,141
Changes in Operating Assets and Liabilities:    
(Increase)/Decrease in Accounts Receivable (11,552,257) (627,552)
(Increase)/Decrease in Prepaid Expenses 120,858 96,688
Increase/(Decrease) in Deposits from Joint Interest Owners (4,078,786) 3,015,000
Increase/(Decrease) in Accounts Payable 7,532,813 607,156
Increase/(Decrease) in Related Party Payable 44,638 2,011
Increase/(Decrease) in Accrued Expenses and Other Payables 1,238,679 (100,000)
Increase/(Decrease) in Other 8,787  
Increase/(Decrease) in Accrued Interest 370,490 400,212
Net Cash (Used In) Provided By Operating Activities (7,017,885) 2,683,315
INVESTING ACTIVITIES    
Equipment Purchases   (3,244)
Deposits   (24,785)
Insurance proceeds received 660,629  
Investments in Oil and Gas Properties (9,762,984) (752,814)
Proceeds From Sale of Working Interest   2,884,651
Net Cash (Used In) Provided By Investing Activities (9,102,355) 2,103,808
FINANCING ACTIVITIES    
Proceeds from Term Loan 11,000,000  
Proceeds from Convertible Promissory Notes 1,819,000 200,000
Proceeds from Exercise of Warrants 85,000  
Payments on Note Payable (105,644) (116,882)
Net Cash Provided By Financing Activities 12,798,356 83,118
Net Increase/(Decrease) in Cash (3,321,884) 4,870,241
Beginning Cash Balance 5,621,814 6,426
Ending Cash Balance 2,299,930 4,876,667
Supplemental Schedule of Cash Flow Activities:    
Cash Paid for Interest 3,903 5,188
Non-Cash Financing and Investing Activities:    
Prepaid Asset Financed by Note Payable 146,310 156,718
Debt Issuance Costs in Accounts Payable 555,923  
Capital Expenditures Included in Accounts Payable   3,088
Stock-Based Compensation Capitalized to Unproved Properties 659,646 613,733
Stock Issued for Consulting Services Capitalized to Unproved Properties   4,880,000
Loans Extinguished through Exercise of Warrants 10,000,000  
Stock Issued for Settlement of Accounts Payable & Accrued Expenses   73,505
Wells In Process Included in Accounts Payable 3,696,671 85,127
Stock Issued to Settle Convertible Promissory Notes and Accrued Interest   $ 872,812
Funds Received from Capital Raise Transferred to Equity 965,800  
Bridge Note Warrant Extension Recorded to Additional Paid-In-Capital 152,078  
Derivative Liability Recorded at Issuance of Convertible Promissory Notes $ 3,521,907