XML 19 R7.htm IDEA: XBRL DOCUMENT v3.20.4
Condensed Statements Of Cash Flows - USD ($)
3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating Activities    
Net income (loss) $ (596,720) $ 1,892,114
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 2,260,649 2,955,701
Provision for deferred income taxes (69,000) 658,000
Gain from leasing fee mineral acreage (232) (523,384)
Proceeds from leasing fee mineral acreage 232 537,777
Net (gain) loss on sales of assets (30,862) (3,272,888)
Directors' deferred compensation expense 44,527 86,213
Total (gain) loss on derivative contracts 254,036 817,894
Cash receipts (payments) on settled derivative contracts 613,314 901,773
Restricted stock awards 122,978 148,515
Other 14,387 8,896
Cash provided (used) by changes in assets and liabilities:    
Natural gas, oil and NGL sales receivables (813,167) 56,160
Other current assets (676,620) (407,610)
Accounts payable (398,556) (73,831)
Income taxes receivable (12,545) (412,073)
Other non-current assets 30,958 1,090
Accrued liabilities (271,998) (1,275,906)
Total adjustments 1,068,101 206,327
Net cash provided by operating activities 471,381 2,098,441
Investing Activities    
Capital expenditures (128,083) (105,265)
Acquisition of minerals and overrides (7,869,746) (10,172,594)
Proceeds from sales of assets   3,376,049
Net cash provided (used) by investing activities (7,997,829) (6,901,810)
Financing Activities    
Borrowings under Credit Facility   4,774,297
Payments of loan principal (1,750,000) (5,199,297)
Net proceeds from equity issuance (24,242)  
Purchases of treasury stock   (7,635)
Payments of dividends (225,887) (655,980)
Net cash provided (used) by financing activities (2,000,129) (1,088,615)
Increase (decrease) in cash and cash equivalents (9,526,577) (5,891,984)
Cash and cash equivalents at beginning of period 10,690,395 6,160,691
Cash and cash equivalents at end of period 1,163,818 268,707
Supplemental Schedule of Noncash Investing and Financing Activities:    
Dividends declared and unpaid 229,049 663,919
Additions to asset retirement obligations   4
Gross additions to properties and equipment 7,986,350 10,164,680
Equity offering used for acquisitions (250,000)  
Net (increase) decrease in accounts payable for properties and equipment additions 261,479 113,179
Capital expenditures and acquisitions $ 7,997,829 $ 10,277,859