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Subsequent Events
6 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events

10. Subsequent Events

 

On October 4, 2021, stock options covering 16,100 shares were exercised with a total intrinsic value of $128,615. The Company received proceeds of $103,928 from these exercises.

 

On October 5, 2021, stock options covering 1,000 shares were exercised with a total intrinsic value of $8,138. The Company received proceeds of $5,980 from these exercises.

 

On October 22, 2021, the Company expended $84,600 for the completion of four wells in Lea County, NM.

 

On October 27, 2021, the Company expended $126,000 for the drilling of four wells in Lea County, NM.

 

On November 1, 2021, the Company had cash on hand of approximately $335,000.

 

The Company completed a review and analysis of all events that occurred after the consolidated balance sheet date to determine if any such events must be reported and has determined that there are no other subsequent events to be disclosed.