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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Operating revenues:        
Total operating revenues $ 1,553,481 $ 636,042 $ 2,817,679 $ 1,006,498
Operating expenses:        
Production 335,588 217,117 612,575 388,783
Accretion of asset retirement obligations 7,245 7,237 14,303 14,424
Depreciation, depletion, and amortization 280,060 236,134 544,380 460,239
General and administrative 214,242 192,360 522,409 441,238
Total operating expenses 837,135 652,848 1,693,667 1,304,684
Operating income (loss) 716,346 (16,806) 1,124,012 (298,186)
Other income (expenses):        
Interest income 12 301 71 316
Interest expense (7,530) (13,515) (20,249) (24,570)
Loss on derivative instruments (11,950) (19,200)
Net other expense (7,518) (25,164) (20,178) (43,454)
Income (loss) before income taxes 708,828 (41,970) 1,103,834 (341,640)
Income tax
Net income (loss) $ 708,828 $ (41,970) $ 1,103,834 $ (341,640)
Income (loss) per common share:        
Basic: $ 0.34 $ (0.02) $ 0.53 $ (0.17)
Diluted: $ 0.33 $ (0.02) $ 0.52 $ (0.17)
Weighted average common shares outstanding:        
Basic: 2,091,417 2,040,941 2,084,127 2,040,553
Diluted: 2,143,743 2,040,941 2,131,889 2,040,553
Oil Sales [Member]        
Operating revenues:        
Total operating revenues $ 1,133,134 $ 504,957 $ 2,120,237 $ 787,327
Natural Gas Sales [Member]        
Operating revenues:        
Total operating revenues 408,037 125,007 676,499 206,816
Other [Member]        
Operating revenues:        
Total operating revenues $ 12,310 $ 6,078 $ 20,943 $ 12,355