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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating revenues:        
Total operating revenues $ 2,324,792 $ 1,553,481 $ 4,774,765 $ 2,817,679
Operating expenses:        
Production 394,445 335,588 829,473 612,575
Accretion of asset retirement obligations 7,830 7,245 15,349 14,303
Depreciation, depletion, and amortization 384,379 280,060 771,507 544,380
General and administrative 322,919 214,242 641,449 522,409
Total operating expenses 1,109,573 837,135 2,257,778 1,693,667
Operating income 1,215,219 716,346 2,516,987 1,124,012
Other income (expenses):        
Interest income 58 12 93 71
Interest expense (3,561) (7,530) (6,692) (20,249)
Net other expense (3,503) (7,518) (6,599) (20,178)
Income before income taxes 1,211,716 708,828 2,510,388 1,103,834
Income tax
Net income $ 1,211,716 $ 708,828 $ 2,510,388 $ 1,103,834
Income per common share:        
Basic: $ 0.56 $ 0.34 $ 1.17 $ 0.53
Diluted: $ 0.55 $ 0.33 $ 1.13 $ 0.52
Weighted average common shares outstanding:        
Basic: 2,149,416 2,091,417 2,149,416 2,084,127
Diluted: 2,218,511 2,143,743 2,217,627 2,131,889
Oil Sales [Member]        
Operating revenues:        
Total operating revenues $ 1,397,875 $ 1,133,134 $ 2,957,196 $ 2,120,237
Natural Gas Sales [Member]        
Operating revenues:        
Total operating revenues 884,020 408,037 1,740,812 676,499
Other [Member]        
Operating revenues:        
Total operating revenues $ 42,897 $ 12,310 $ 76,757 $ 20,943