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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue    
Oil and natural gas revenues, net of royalties (Note 7) $ 58,524 $ 50,597
Other income 127 2
Total revenue 58,651 50,599
Expenses    
Production and operating expenses 8,233 5,895
Depletion, depreciation and amortization (Notes 9,10) 15,892 15,009
General and administrative expenses 5,636 4,243
Stock based compensation (Note 15) 1,075 790
Total expenses 30,836 25,937
Finance income    
Unrealized gain on risk management contracts (Note 6) 336 1,813
Interest income 2
Total finance income 338 1,813
Finance expense    
Interest on loans and borrowings 3,382 2,263
Realized loss on risk management contracts (Note 6) 616 1,379
Accretion 90 80
Interest on lease liability 82 103
Foreign exchange loss 4 11
Total finance expense 4,174 3,836
Net income before income taxes 23,979 22,639
Income tax expense (Note 11) (5,864) (3,359)
Net income and comprehensive income $ 18,115 $ 19,280
Basic net income per share (Note 13) $ 0.51 $ 0.54
Diluted net income per share (Note 13) $ 0.50 $ 0.53