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Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Mar. 31, 2019
Current assets    
Cash and cash equivalents $ 63,295 $ 128,252
Accounts receivable:    
Oil and natural gas sales 395,251 349,600
Trade 13,976
Note receivable 30,421
Prepaid costs and expenses 17,395 53,735
Total current assets 489,917 562,008
Property and equipment, at cost    
Oil and gas properties, using the full cost method 36,889,224 35,907,677
Other 115,280 113,043
Accumulated depreciation, depletion and amortization (27,904,180) (27,255,451)
Property and equipment, net 9,100,324 8,765,269
Investment - cost basis 100,000
Operating lease, right-of-use asset 92,444
Other noncurrent assets 15 122,407
Total assets 9,782,700 9,449,684
Current liabilities    
Accounts payable and accrued expenses 100,065 166,113
Operating lease liability, current 65,461
Total current liabilities 165,526 166,113
Long-term liabilities    
Long-term debt 486,250
Operating lease liability, long-term 27,456
Asset retirement obligations 751,333 854,034
Total long-term liabilities 1,265,039 854,034
Total liabilities 1,430,565 1,020,147
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; 2,107,166 shares issued and 2,040,166 shares outstanding as of December 31, 2019 and March 31, 2019, respectively 1,053,583 1,053,583
Additional paid-in capital 7,329,423 7,305,048
Retained earnings 315,130 416,907
Treasury stock, at cost - (67,000 shares) (346,001) (346,001)
Total stockholders' equity 8,352,135 8,429,537
Total liabilities and stockholders' equity $ 9,782,700 $ 9,449,684