Consolidated Balance Sheets - USD ($)	Mar. 31, 2024	Mar. 31, 2023
Current assets
Cash and cash equivalents	$ 2,473,484	$ 2,235,771
Accounts receivable:
Oil and natural gas sales	1,001,709	1,366,784
Trade	9,186	7,031
Prepaid drilling	148,748	67,951
Prepaid costs and expenses	56,193	56,502
Total current assets	3,689,320	3,734,039
Property and equipment, at cost
Oil and gas properties, using the full cost method	48,304,585	45,391,634
Other	121,926	121,926
Accumulated depreciation, depletion and amortization	(34,184,837)	(32,215,095)
Property and equipment, net	14,241,674	13,298,465
Investment – cost basis	1,100,000	700,000
Operating lease, right-of-use asset	19,263	75,629
Other noncurrent assets	8,597	12,156
Total assets	19,058,854	17,820,289
Current liabilities
Accounts payable and accrued expenses	221,603	201,897
Income tax payable	189,254
Operating lease liability, current	19,263	56,366
Total current liabilities	430,120	258,263
Long-term liabilities
Operating lease liability, long-term		19,263
Deferred income tax liability	311,661
Asset retirement obligations	688,808	710,276
Total long-term liabilities	1,000,469	729,539
Total liabilities	1,430,589	987,802
Commitments and contingencies
Stockholders’ equity
Preferred stock - $1.00 par value; 10,000,000 shares authorized; none outstanding
Common stock - $0.50 par value; 40,000,000 shares authorized; 2,226,916 and 2,221,416 shares issued; and, 2,091,399 and 2,136,000 shares outstanding as of March 31, 2024 and 2023	1,113,458	1,110,708
Additional paid-in capital	8,567,856	8,321,145
Retained earnings	9,122,481	7,991,129
Treasury stock, at cost (135,517 and 85,416 shares, respectively)	(1,175,530)	(590,495)
Total stockholders’ equity	17,628,265	16,832,487
Total liabilities and stockholders’ equity	$ 19,058,854	$ 17,820,289