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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Revenue    
Oil and natural gas revenues, net of royalties (Note 7) $ 50,597 $ 37,560
Other income 2 46
Total revenue 50,599 37,606
Expenses    
Production and operating expenses 5,895 4,904
Depletion, depreciation and amortization (Notes 9,10) 15,009 7,581
General and administrative expenses 4,243 3,494
Stock based compensation (Note 15) 790 277
Total expenses 25,937 16,256
Finance income    
Unrealized gain on risk management contracts (Note 6) 1,813 461
Interest income 3
Total finance income 1,813 464
Finance expense    
Interest on loans and borrowings 2,263 1,070
Realized loss on risk management contracts (Note 6) 1,379 4,050
Accretion 80 31
Interest on lease liability 103 3
Foreign exchange loss 11 17
Total finance expense 3,836 5,171
Net income before income taxes 22,639 16,643
Income tax expense (3,359)
Net income and comprehensive income $ 19,280 $ 16,643
Basic net income per share (Note 13) $ 0.54 $ 0.47
Diluted net income per share (Note 13) $ 0.53 $ 0.46