unevaluated oil and gas properties not subject to amortization include the following at december 31 , 2017 and 2016 : replace_table_token_10_th the carrying value of unevaluated oil and gas prospects includes $ 2,309,341 and $ 2,284,187 expended for properties in south america at december 31 , 2017 and 2016 , respectively . we are maintaining our interest in these properties . stock-based compensation . we use the black-scholes option-pricing model , which requires the input of highly subjective assumptions . these assumptions include estimating the volatility of our common stock price over the expected life of the options , dividend yield , an appropriate risk-free interest rate and the number of options that will ultimately not complete their vesting requirements . changes in the subjective assumptions can materially affect the estimated fair value of stock-based compensation and consequently , the related amount recognized on the statements of operations . results of operations year ended december 31 , 2017 compared to year ended december 31 , 2016 oil and gas revenues . total oil and gas revenues increased 280 % , to $ 630,392 in 2017 from $ 165,910 in 2016. the increase in revenues was attributable to a combination of higher production and an increase in average prices realized from oil and gas sales . the following table sets forth the gross and net producing wells , net oil and gas production volumes and average hydrocarbon sales prices for 2017 and 2016 : replace_table_token_11_th the increase in wells and production reflects the commencement of production from our johnson # 1h and o'brien # 3h wells . both wells accounted for nominal oil sales during well testing in the third quarter of 2017 and commenced commercial oil and gas sales in mid-fourth quarter of 2017. the increase in production attributable to the two new reeves county wells was supplemented by resumption of production from a well that had previously been offline and was partially offset by natural decline of other wells . 30 the change in average sales prices realized reflects fluctuations in global commodity prices . realized prices stabilized and began increasing beginning in late 2016 and continuing through 2017 following sharp declines in oil and gas prices which began in late 2014 and continued through mid-2016 . oil and gas sales revenues for 2017 and 2016 by region were as follows : replace_table_token_12_th lease operating expenses . lease operating expenses , excluding joint venture expenses relating to our colombian operations discussed below , increased 123 % to $ 216,429 in 2017 from $ 97,203 in 2016. the increase in lease operating expenses was attributable to the commencement of production from our first two reeves county wells , the resumption of production from a well that had been offline and increased salt water disposal fees . following is a summary comparison of lease operating expenses for the periods . colombia u.s. total 2017 $ — $ 216,429 $ 216,429 2016 $ — $ 97,203 $ 97,203 consistent with our business model and operating history , we experience steep declines in lease operating expenses following strategic divestitures and anticipate lease operating expenses to ramp up to levels consistent with regional costs as new wells are brought on line . with the commencement of production in reeves county and additional planned drilling in reeves county lease operating expenses in the u.s. and overall , are expected to increase in 2018. depreciation and depletion expense . depreciation and depletion expense decreased by 47 % to $ 161,489 in 2017 from $ 302,782 in 2016. the decrease in depreciation and depletion during 2017 was due to impairment of oil and gas properties during 2016 , which reduced our costs subject to depletion , partially offset by investments in , and commencement of production from , our initial reeves county wells late in 2017. depreciation and depletion are expected to increase in 2018 as a result of investment in our reeves county drilling program and increased production expected to result from the same . impairment of oil and gas properties . we reported an impairment charge of $ 584,086 during 2016. the charge resulted from the effects of steeply lower commodity prices when applying the ceiling test under the full cost method of accounting . general and administrative expenses . general and administrative expense increased by 8 % to $ 1,822,667 in 2017 from $ 1,691,758 in 2016. the change in general and administrative expense was primarily attributable to ( i ) an increase in the base salary of our principal officer effective january 1 , 2017 , including deferred and accrued salary totaling $ 113,000 , ( ii ) hiring of a non-executive officer for a two-month period , ( iii ) increased legal , professional and other costs associated with our efforts to finalize the acquisition of our reeves county acreage , increase investor visibility , maintain our exchange listing and secure funding to satisfy our financial commitments with respect to the reeves county acreage , and ( iv ) increased insurance costs ; all partially offset by select salary reductions and timing related decreases in director fees . stock-based compensation . stock-based compensation expense increased 120 % to $ 306,000 in 2017 from $ 138,912 in 2016. the increase in stock-based compensation expense was primarily attributable to an option grant under our principal officer 's revised employment terms . 31 other income ( expense ) . other income/expense , net , totaled $ 161,421 of expense during 2017 as compared to $ 7,206 of income during 2016. other expense , net , during 2017 consisted of $ 171,605 of interest expense with respect to the bridge loan notes , including $ 12,871 of cash interest expense , $ 30,000 of amortization of debt discount arising from the sale of the bridge loan notes at a discount to face amount and $ 128,734 of deemed value of the bridge loan warrants issued in conjunction with the bridge loan notes ; partially offset by story_separator_special_tag unevaluated oil and gas properties not subject to amortization include the following at december 31 , 2017 and 2016 : replace_table_token_10_th the carrying value of unevaluated oil and gas prospects includes $ 2,309,341 and $ 2,284,187 expended for properties in south america at december 31 , 2017 and 2016 , respectively . we are maintaining our interest in these properties . stock-based compensation . we use the black-scholes option-pricing model , which requires the input of highly subjective assumptions . these assumptions include estimating the volatility of our common stock price over the expected life of the options , dividend yield , an appropriate risk-free interest rate and the number of options that will ultimately not complete their vesting requirements . changes in the subjective assumptions can materially affect the estimated fair value of stock-based compensation and consequently , the related amount recognized on the statements of operations . results of operations year ended december 31 , 2017 compared to year ended december 31 , 2016 oil and gas revenues . total oil and gas revenues increased 280 % , to $ 630,392 in 2017 from $ 165,910 in 2016. the increase in revenues was attributable to a combination of higher production and an increase in average prices realized from oil and gas sales . the following table sets forth the gross and net producing wells , net oil and gas production volumes and average hydrocarbon sales prices for 2017 and 2016 : replace_table_token_11_th the increase in wells and production reflects the commencement of production from our johnson # 1h and o'brien # 3h wells . both wells accounted for nominal oil sales during well testing in the third quarter of 2017 and commenced commercial oil and gas sales in mid-fourth quarter of 2017. the increase in production attributable to the two new reeves county wells was supplemented by resumption of production from a well that had previously been offline and was partially offset by natural decline of other wells . 30 the change in average sales prices realized reflects fluctuations in global commodity prices . realized prices stabilized and began increasing beginning in late 2016 and continuing through 2017 following sharp declines in oil and gas prices which began in late 2014 and continued through mid-2016 . oil and gas sales revenues for 2017 and 2016 by region were as follows : replace_table_token_12_th lease operating expenses . lease operating expenses , excluding joint venture expenses relating to our colombian operations discussed below , increased 123 % to $ 216,429 in 2017 from $ 97,203 in 2016. the increase in lease operating expenses was attributable to the commencement of production from our first two reeves county wells , the resumption of production from a well that had been offline and increased salt water disposal fees . following is a summary comparison of lease operating expenses for the periods . colombia u.s. total 2017 $ — $ 216,429 $ 216,429 2016 $ — $ 97,203 $ 97,203 consistent with our business model and operating history , we experience steep declines in lease operating expenses following strategic divestitures and anticipate lease operating expenses to ramp up to levels consistent with regional costs as new wells are brought on line . with the commencement of production in reeves county and additional planned drilling in reeves county lease operating expenses in the u.s. and overall , are expected to increase in 2018. depreciation and depletion expense . depreciation and depletion expense decreased by 47 % to $ 161,489 in 2017 from $ 302,782 in 2016. the decrease in depreciation and depletion during 2017 was due to impairment of oil and gas properties during 2016 , which reduced our costs subject to depletion , partially offset by investments in , and commencement of production from , our initial reeves county wells late in 2017. depreciation and depletion are expected to increase in 2018 as a result of investment in our reeves county drilling program and increased production expected to result from the same . impairment of oil and gas properties . we reported an impairment charge of $ 584,086 during 2016. the charge resulted from the effects of steeply lower commodity prices when applying the ceiling test under the full cost method of accounting . general and administrative expenses . general and administrative expense increased by 8 % to $ 1,822,667 in 2017 from $ 1,691,758 in 2016. the change in general and administrative expense was primarily attributable to ( i ) an increase in the base salary of our principal officer effective january 1 , 2017 , including deferred and accrued salary totaling $ 113,000 , ( ii ) hiring of a non-executive officer for a two-month period , ( iii ) increased legal , professional and other costs associated with our efforts to finalize the acquisition of our reeves county acreage , increase investor visibility , maintain our exchange listing and secure funding to satisfy our financial commitments with respect to the reeves county acreage , and ( iv ) increased insurance costs ; all partially offset by select salary reductions and timing related decreases in director fees . stock-based compensation . stock-based compensation expense increased 120 % to $ 306,000 in 2017 from $ 138,912 in 2016. the increase in stock-based compensation expense was primarily attributable to an option grant under our principal officer 's revised employment terms . 31 other income ( expense ) . other income/expense , net , totaled $ 161,421 of expense during 2017 as compared to $ 7,206 of income during 2016. other expense , net , during 2017 consisted of $ 171,605 of interest expense with respect to the bridge loan notes , including $ 12,871 of cash interest expense , $ 30,000 of amortization of debt discount arising from the sale of the bridge loan notes at a discount to face amount and $ 128,734 of deemed value of the bridge loan warrants issued in conjunction with the bridge loan notes ; partially offset by

liquidity and capital resources . at december 31 , 2017 , we had a cash balance of $ 392,062 and working capital of $ 591,703 compared to a cash balance of $ 481,172 and working capital of $ 423,795 at december 31 , 2016. cash flows . operating activities used cash of $ 1,716,847 during 2017 compared to $ 1,297,153 of cash used during 2016. the change in cash used in operations was primarily attributable to period to period changes in operating assets and liabilities , in particular , an increase in accounts receivable of $ 347,548 relating to sales from our reeves county properties commencing late in the fourth quarter of 2017. investing activities used $ 4,412,456 of cash during 2017 compared to $ 209,222 of cash used during 2016. the increase in cash used in investing activities is attributable to investments in our reeves county properties , including acquisition of acreage ( $ 1,043,977 ) and investments in drilling and completion of our first two wells and construction of associated infrastructure ( $ 3,368,479 ) . financing activities provided cash of $ 6,040,193 during 2017 compared to $ 135,973 of cash used during 2016. the change in cash flow from financing activity reflects the receipt of gross funds from the sale , during 2017 , of common stock under our atm offering ( $ 4,101,013 ) , series a preferred stock ( $ 1,200,000 ) , series b preferred and series b warrants ( $ 909,600 ) , and bridge loan notes and bridge loan warrants ( $ 570,000 ) , partially offset by the payment of dividends on the series a and series b preferred stock ( $ 140,420 ) and repayment of bridge loan notes ( $ 600,000 ) , while funds were used during 2016 for the purchase of treasury stock . long-term liabilities .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources . at december 31 , 2017 , we had a cash balance of $ 392,062 and working capital of $ 591,703 compared to a cash balance of $ 481,172 and working capital of $ 423,795 at december 31 , 2016. cash flows . operating activities used cash of $ 1,716,847 during 2017 compared to $ 1,297,153 of cash used during 2016. the change in cash used in operations was primarily attributable to period to period changes in operating assets and liabilities , in particular , an increase in accounts receivable of $ 347,548 relating to sales from our reeves county properties commencing late in the fourth quarter of 2017. investing activities used $ 4,412,456 of cash during 2017 compared to $ 209,222 of cash used during 2016. the increase in cash used in investing activities is attributable to investments in our reeves county properties , including acquisition of acreage ( $ 1,043,977 ) and investments in drilling and completion of our first two wells and construction of associated infrastructure ( $ 3,368,479 ) . financing activities provided cash of $ 6,040,193 during 2017 compared to $ 135,973 of cash used during 2016. the change in cash flow from financing activity reflects the receipt of gross funds from the sale , during 2017 , of common stock under our atm offering ( $ 4,101,013 ) , series a preferred stock ( $ 1,200,000 ) , series b preferred and series b warrants ( $ 909,600 ) , and bridge loan notes and bridge loan warrants ( $ 570,000 ) , partially offset by the payment of dividends on the series a and series b preferred stock ( $ 140,420 ) and repayment of bridge loan notes ( $ 600,000 ) , while funds were used during 2016 for the purchase of treasury stock . long-term liabilities .
```    
 Suspicious Activity Report : unevaluated oil and gas properties not subject to amortization include the following at december 31 , 2017 and 2016 : replace_table_token_10_th the carrying value of unevaluated oil and gas prospects includes $ 2,309,341 and $ 2,284,187 expended for properties in south america at december 31 , 2017 and 2016 , respectively . we are maintaining our interest in these properties . stock-based compensation . we use the black-scholes option-pricing model , which requires the input of highly subjective assumptions . these assumptions include estimating the volatility of our common stock price over the expected life of the options , dividend yield , an appropriate risk-free interest rate and the number of options that will ultimately not complete their vesting requirements . changes in the subjective assumptions can materially affect the estimated fair value of stock-based compensation and consequently , the related amount recognized on the statements of operations . results of operations year ended december 31 , 2017 compared to year ended december 31 , 2016 oil and gas revenues . total oil and gas revenues increased 280 % , to $ 630,392 in 2017 from $ 165,910 in 2016. the increase in revenues was attributable to a combination of higher production and an increase in average prices realized from oil and gas sales . the following table sets forth the gross and net producing wells , net oil and gas production volumes and average hydrocarbon sales prices for 2017 and 2016 : replace_table_token_11_th the increase in wells and production reflects the commencement of production from our johnson # 1h and o'brien # 3h wells . both wells accounted for nominal oil sales during well testing in the third quarter of 2017 and commenced commercial oil and gas sales in mid-fourth quarter of 2017. the increase in production attributable to the two new reeves county wells was supplemented by resumption of production from a well that had previously been offline and was partially offset by natural decline of other wells . 30 the change in average sales prices realized reflects fluctuations in global commodity prices . realized prices stabilized and began increasing beginning in late 2016 and continuing through 2017 following sharp declines in oil and gas prices which began in late 2014 and continued through mid-2016 . oil and gas sales revenues for 2017 and 2016 by region were as follows : replace_table_token_12_th lease operating expenses . lease operating expenses , excluding joint venture expenses relating to our colombian operations discussed below , increased 123 % to $ 216,429 in 2017 from $ 97,203 in 2016. the increase in lease operating expenses was attributable to the commencement of production from our first two reeves county wells , the resumption of production from a well that had been offline and increased salt water disposal fees . following is a summary comparison of lease operating expenses for the periods . colombia u.s. total 2017 $ — $ 216,429 $ 216,429 2016 $ — $ 97,203 $ 97,203 consistent with our business model and operating history , we experience steep declines in lease operating expenses following strategic divestitures and anticipate lease operating expenses to ramp up to levels consistent with regional costs as new wells are brought on line . with the commencement of production in reeves county and additional planned drilling in reeves county lease operating expenses in the u.s. and overall , are expected to increase in 2018. depreciation and depletion expense . depreciation and depletion expense decreased by 47 % to $ 161,489 in 2017 from $ 302,782 in 2016. the decrease in depreciation and depletion during 2017 was due to impairment of oil and gas properties during 2016 , which reduced our costs subject to depletion , partially offset by investments in , and commencement of production from , our initial reeves county wells late in 2017. depreciation and depletion are expected to increase in 2018 as a result of investment in our reeves county drilling program and increased production expected to result from the same . impairment of oil and gas properties . we reported an impairment charge of $ 584,086 during 2016. the charge resulted from the effects of steeply lower commodity prices when applying the ceiling test under the full cost method of accounting . general and administrative expenses . general and administrative expense increased by 8 % to $ 1,822,667 in 2017 from $ 1,691,758 in 2016. the change in general and administrative expense was primarily attributable to ( i ) an increase in the base salary of our principal officer effective january 1 , 2017 , including deferred and accrued salary totaling $ 113,000 , ( ii ) hiring of a non-executive officer for a two-month period , ( iii ) increased legal , professional and other costs associated with our efforts to finalize the acquisition of our reeves county acreage , increase investor visibility , maintain our exchange listing and secure funding to satisfy our financial commitments with respect to the reeves county acreage , and ( iv ) increased insurance costs ; all partially offset by select salary reductions and timing related decreases in director fees . stock-based compensation . stock-based compensation expense increased 120 % to $ 306,000 in 2017 from $ 138,912 in 2016. the increase in stock-based compensation expense was primarily attributable to an option grant under our principal officer 's revised employment terms . 31 other income ( expense ) . other income/expense , net , totaled $ 161,421 of expense during 2017 as compared to $ 7,206 of income during 2016. other expense , net , during 2017 consisted of $ 171,605 of interest expense with respect to the bridge loan notes , including $ 12,871 of cash interest expense , $ 30,000 of amortization of debt discount arising from the sale of the bridge loan notes at a discount to face amount and $ 128,734 of deemed value of the bridge loan warrants issued in conjunction with the bridge loan notes ; partially offset by story_separator_special_tag unevaluated oil and gas properties not subject to amortization include the following at december 31 , 2017 and 2016 : replace_table_token_10_th the carrying value of unevaluated oil and gas prospects includes $ 2,309,341 and $ 2,284,187 expended for properties in south america at december 31 , 2017 and 2016 , respectively . we are maintaining our interest in these properties . stock-based compensation . we use the black-scholes option-pricing model , which requires the input of highly subjective assumptions . these assumptions include estimating the volatility of our common stock price over the expected life of the options , dividend yield , an appropriate risk-free interest rate and the number of options that will ultimately not complete their vesting requirements . changes in the subjective assumptions can materially affect the estimated fair value of stock-based compensation and consequently , the related amount recognized on the statements of operations . results of operations year ended december 31 , 2017 compared to year ended december 31 , 2016 oil and gas revenues . total oil and gas revenues increased 280 % , to $ 630,392 in 2017 from $ 165,910 in 2016. the increase in revenues was attributable to a combination of higher production and an increase in average prices realized from oil and gas sales . the following table sets forth the gross and net producing wells , net oil and gas production volumes and average hydrocarbon sales prices for 2017 and 2016 : replace_table_token_11_th the increase in wells and production reflects the commencement of production from our johnson # 1h and o'brien # 3h wells . both wells accounted for nominal oil sales during well testing in the third quarter of 2017 and commenced commercial oil and gas sales in mid-fourth quarter of 2017. the increase in production attributable to the two new reeves county wells was supplemented by resumption of production from a well that had previously been offline and was partially offset by natural decline of other wells . 30 the change in average sales prices realized reflects fluctuations in global commodity prices . realized prices stabilized and began increasing beginning in late 2016 and continuing through 2017 following sharp declines in oil and gas prices which began in late 2014 and continued through mid-2016 . oil and gas sales revenues for 2017 and 2016 by region were as follows : replace_table_token_12_th lease operating expenses . lease operating expenses , excluding joint venture expenses relating to our colombian operations discussed below , increased 123 % to $ 216,429 in 2017 from $ 97,203 in 2016. the increase in lease operating expenses was attributable to the commencement of production from our first two reeves county wells , the resumption of production from a well that had been offline and increased salt water disposal fees . following is a summary comparison of lease operating expenses for the periods . colombia u.s. total 2017 $ — $ 216,429 $ 216,429 2016 $ — $ 97,203 $ 97,203 consistent with our business model and operating history , we experience steep declines in lease operating expenses following strategic divestitures and anticipate lease operating expenses to ramp up to levels consistent with regional costs as new wells are brought on line . with the commencement of production in reeves county and additional planned drilling in reeves county lease operating expenses in the u.s. and overall , are expected to increase in 2018. depreciation and depletion expense . depreciation and depletion expense decreased by 47 % to $ 161,489 in 2017 from $ 302,782 in 2016. the decrease in depreciation and depletion during 2017 was due to impairment of oil and gas properties during 2016 , which reduced our costs subject to depletion , partially offset by investments in , and commencement of production from , our initial reeves county wells late in 2017. depreciation and depletion are expected to increase in 2018 as a result of investment in our reeves county drilling program and increased production expected to result from the same . impairment of oil and gas properties . we reported an impairment charge of $ 584,086 during 2016. the charge resulted from the effects of steeply lower commodity prices when applying the ceiling test under the full cost method of accounting . general and administrative expenses . general and administrative expense increased by 8 % to $ 1,822,667 in 2017 from $ 1,691,758 in 2016. the change in general and administrative expense was primarily attributable to ( i ) an increase in the base salary of our principal officer effective january 1 , 2017 , including deferred and accrued salary totaling $ 113,000 , ( ii ) hiring of a non-executive officer for a two-month period , ( iii ) increased legal , professional and other costs associated with our efforts to finalize the acquisition of our reeves county acreage , increase investor visibility , maintain our exchange listing and secure funding to satisfy our financial commitments with respect to the reeves county acreage , and ( iv ) increased insurance costs ; all partially offset by select salary reductions and timing related decreases in director fees . stock-based compensation . stock-based compensation expense increased 120 % to $ 306,000 in 2017 from $ 138,912 in 2016. the increase in stock-based compensation expense was primarily attributable to an option grant under our principal officer 's revised employment terms . 31 other income ( expense ) . other income/expense , net , totaled $ 161,421 of expense during 2017 as compared to $ 7,206 of income during 2016. other expense , net , during 2017 consisted of $ 171,605 of interest expense with respect to the bridge loan notes , including $ 12,871 of cash interest expense , $ 30,000 of amortization of debt discount arising from the sale of the bridge loan notes at a discount to face amount and $ 128,734 of deemed value of the bridge loan warrants issued in conjunction with the bridge loan notes ; partially offset by

