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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Operating revenue:        
Total operating revenues $ 2,581,210 $ 1,595,344 $ 7,355,975 $ 4,413,023
Operating expenses:        
Production 478,670 291,068 1,308,143 903,643
Accretion of asset retirement obligation 7,553 7,327 22,902 21,630
Depreciation, depletion, and amortization 496,509 268,018 1,268,016 812,398
General and administrative 288,536 239,767 876,735 739,469
Total operating expenses 1,271,268 806,180 3,475,796 2,477,140
Operating income 1,309,942 789,164 3,880,179 1,935,883
Other income (expenses):        
Interest income 59 55 152 126
Interest expense (3,230) (3,132) (9,922) (23,381)
Net other expense (3,171) (3,077) (9,770) (23,255)
Net income before income taxes 1,306,771 786,087 3,870,409 1,912,628
State income tax expense 61,986 32,785 115,236 55,492
Net income $ 1,244,785 $ 753,302 $ 3,755,173 $ 1,857,136
Income per common share:        
Basic: $ 0.58 $ 0.36 $ 1.75 $ 0.89
Diluted: $ 0.56 $ 0.35 $ 1.70 $ 0.89
Weighted average common shares outstanding:        
Basic: 2,147,750 2,120,912 2,148,859 2,096,433
Diluted: 2,205,706 2,176,240 2,213,652 2,146,717
Oil Sales [Member]        
Operating revenue:        
Total operating revenues $ 1,750,539 $ 1,073,078 $ 4,707,735 $ 3,193,315
Natural Gas Sales [Member]        
Operating revenue:        
Total operating revenues 735,478 500,906 2,476,290 1,177,405
Other [Member]        
Operating revenue:        
Total operating revenues $ 95,193 $ 21,360 $ 171,950 $ 42,303