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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Mar. 31, 2020
Current assets    
Cash and cash equivalents $ 41,016 $ 34,381
Accounts receivable:    
Oil and natural gas sales 363,387 271,315
Trade 16,080 13,382
Prepaid costs and expenses 8,754 50,188
Total current assets 429,237 369,266
Property and equipment, at cost    
Oil and gas properties, using the full cost method 38,231,910 37,465,172
Other 120,208 116,993
Accumulated depreciation, depletion and amortization (28,806,949) (28,109,252)
Property and equipment, net 9,545,169 9,472,913
Investment - cost basis 175,000 150,000
Operating lease, right-of-use asset 36,987 76,130
Other noncurrent assets 2,200
Total assets 10,186,393 10,070,509
Current liabilities    
Accounts payable and accrued expenses 94,627 116,760
Operating lease liability, current 38,438 65,721
Total current liabilities 133,065 182,481
Long-term liabilities    
Long-term debt 1,071,817 757,423
Operating lease liability, long-term 10,982
Asset retirement obligations 757,684 755,261
Total long-term liabilities 1,829,501 1,523,666
Total liabilities 1,962,566 1,706,147
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; 2,118,866 and 2,107,166 shares issued; 2,051,866 and 2,040,166 shares outstanding as of December 31, 2020 and March 31, 2020, respectively 1,059,433 1,053,583
Additional paid-in capital 7,454,109 7,339,351
Retained earnings 56,286 317,429
Treasury stock, at cost (67,000 shares) (346,001) (346,001)
Total stockholders' equity 8,223,827 8,364,362
Total liabilities and stockholders' equity $ 10,186,393 $ 10,070,509