Balance Sheets - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 2,242,102	$ 806,254
Natural gas, oil and NGL sales receivables (net of $0 allowance for uncollectable accounts)	6,128,954	4,900,126
Refundable income taxes	328,560	455,931
Derivative contracts, net	0	3,120,607
Other	857,317	878,659
Total current assets	9,556,933	10,161,577
Properties and equipment at cost, based on successful efforts accounting:
Producing natural gas and oil properties	223,043,942	209,082,847
Non-producing natural gas and oil properties	51,806,911	58,820,445
Other	1,361,064	1,360,614
Gross properties and equipment, at cost, based on successful efforts accounting	276,211,917	269,263,906
Less accumulated depreciation, depletion and amortization	(122,835,668)	(114,139,423)
Net properties and equipment	153,376,249	155,124,483
Derivative contracts, net	0	162,980
Operating lease right-of-use assets	429,494	572,610
Other, net	553,090	486,630
Total assets	163,915,766	166,508,280
Current Liabilities:
Accounts payable	804,693	562,607
Derivative contracts, net	316,336
Current portion of operating lease liability	247,786	233,390
Accrued liabilities and other	1,866,930	1,215,275
Total current liabilities	3,235,745	2,011,272
Long-term debt	29,500,000	32,750,000
Deferred income taxes	7,286,315	6,757,637
Asset retirement obligations	1,097,750	1,062,139
Derivative contracts, net	398,072
Operating lease liability, net of current portion	448,031	695,818
Total liabilities	41,965,913	43,276,866
Stockholders' equity:
Voting common stock, par value $0.01666 per share: 75,000,000 shares authorized and 36,796,496 shares issued and outstanding at December 31, 2024; 54,000,500 shares authorized and 36,121,723 shares issued and outstanding at December 31, 2023	613,030	601,788
Capital in excess of par value	44,029,492	41,676,417
Deferred directors' compensation	1,323,760	1,487,590
Retained earnings	77,073,332	80,022,839
Stockholders' Equity	123,039,614	123,788,634
Treasury stock, at cost: 279,594 shares at December 31, 2024; 131,477 shares at December 31, 2023	(1,089,761)	(557,220)
Total stockholders' equity	121,949,853	123,231,414
Total liabilities and stockholders' equity	$ 163,915,766	$ 166,508,280