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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 3,960,416 $ 16,388,876
Adjustments to reconcile net income to net cash provided by operating activities:    
Depletion, depreciation, amortization, and accretion 3,388,734 3,192,958
Accretion of discount on available for sale securities (343,328) 0
Gain on available for sale securities (47,659) 0
Impairment expense 0 0
(Gain) loss on derivative contracts (1,696,838) 194,910
Loss (gain) on sale of oil and gas properties 1,449,871 (221,642)
Settlement received (paid) on derivative contracts 1,632,858 (1,375,287)
Settlement of asset retirement obligation 0 (118,259)
Stock-based compensation expense 359,496 336,352
Deferred income tax expense (benefit) 230,327 319,326
Changes in assets and liabilities:    
Accounts receivable 2,846,310 (5,333,960)
Other current assets 332,214 328,872
Accounts payable, royalties payable and other accrued liabilities (1,910,674) 738,023
Income taxes payable 0 1,312,365
Net cash provided by operating activities 10,201,727 15,762,534
Cash flows from investing activities:    
Additions to unproved oil and gas properties (7,821,248) (162,445)
Additions to proved oil and gas properties (5,653,284) (4,935,370)
Additions to gathering system properties (30,264) (82,855)
Additions to land, buildings and property and equipment (47,933) (1,234)
Purchases of short term investments (32,812,974) 0
Proceeds from short term investments 6,352,473 0
Proceeds from sale of oil and gas properties 12,498 200,000
Net cash used in investing activities (40,000,732) (4,981,904)
Cash flows from financing activities:    
Buyback of common shares (3,054,775) (3,956,403)
Exercise of stock options 0 608,787
Dividends paid (2,828,602) (2,969,677)
Debt issuance costs (140,000) 0
Net cash used in financing activities (6,023,377) (6,317,293)
Effect of currency rates on cash, cash equivalents, and restricted cash (1,471) (13,748)
(Decrease) increase in cash, cash equivalents, and restricted cash (35,823,853) 4,449,589
Cash, cash equivalents, and restricted cash, beginning of period 45,806,947 27,065,423
Cash, cash equivalents, and restricted cash, end of period 9,983,094 31,515,012
Supplemental cash flow disclosures:    
Income taxes paid 1,432,000 4,566,000
Interest paid 80,075 33,885
Non-cash investing activities:    
Change in proved properties accrued in accounts payable and accrued liabilities 72,999 (1,097,247)
Change in gathering system accrued in accounts payable and accrued liabilities 4,240 8,554
Change in share buybacks accrued in accounts payable and accrued liabilities 0 598,419
Asset retirement obligation asset additions and adjustments $ 4,640 $ 7,666