XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Operating revenue:        
Total operating revenues $ 699,894 $ 769,778 $ 1,706,392 $ 2,095,253
Operating expenses:        
Production 235,958 249,921 624,741 698,358
Accretion of asset retirement obligation 7,116 6,961 21,540 20,298
Depreciation, depletion, and amortization 237,459 228,762 697,698 648,729
General and administrative 193,288 239,346 634,526 805,701
Total operating expenses 673,821 724,990 1,978,505 2,173,086
Operating income (loss) 26,073 44,788 (272,113) (77,833)
Other income (expenses):        
Interest income 71 611 387 1,110
Interest expense (14,604) (10,203) (39,174) (25,054)
PPP loan forgiveness 68,957 68,957
Loss on derivative instruments (19,200)
Net other income (expense) 54,424 (9,592) 10,970 (23,944)
Income (loss) before income taxes 80,497 35,196 (261,143) (101,777)
Net income (loss) $ 80,497 $ 35,196 $ (261,143) $ (101,777)
Income (loss) per common share:        
Basic: $ 0.04 $ 0.02 $ (0.13) $ (0.05)
Diluted: $ 0.04 $ 0.02 $ (0.13) $ (0.05)
Weighted average common shares outstanding:        
Basic: 2,051,081 2,040,166 2,044,054 2,040,166
Diluted: 2,054,288 2,040,166 2,044,054 2,040,166
Oil Sales [Member]        
Operating revenue:        
Total operating revenues $ 520,261 $ 643,141 $ 1,307,588 $ 1,762,663
Natural Gas Sales [Member]        
Operating revenue:        
Total operating revenues 171,982 123,082 378,798 321,004
Other [Member]        
Operating revenue:        
Total operating revenues $ 7,651 $ 3,555 $ 20,006 $ 11,586