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v3.23.2

Oil and Gas Reserve Data (Unaudited) (Tables) | 12 Months Ended
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Mar. 31, 2023
Extractive Industries [Abstract] |
Schedule of Changes in Proved Reserve | The following table presents the weighted average first-day-of-the-month prices used for oil and gas reserve preparation, based upon SEC guidelines. Schedule of Changes in Proved Reserve
|  | March 31, |  |  |  |
|  | 2023 |  |  | 2022 |  |  | % Change |
Prices utilized in the reserve estimates before adjustments: |  |  |  |  |  |  |  |  |
Oil per Bbl |  | $ | 87.45 |  |  | $ | 71.72 |  |  |  | 22 | %
Natural gas per MMBtu |  | $ | 5.96 |  |  | $ | 4.09 |  |  |  | 46 | %
Schedule of Changes in Proved Reserve | Changes in Proved Reserves: Schedule of Changes in Proved Reserve
|  | Oil (Bbls) |  |  | Natural Gas (Mcf) |
Proved Developed and Undeveloped Reserves: |  |  |  |  |  |  |  |
As of April 1, 2021 |  |  | 738,000 |  |  |  | 4,595,000 |
Revision of previous estimates |  |  | (70,000 | ) |  |  | (96,000 | )
Purchase of minerals in place |  |  | 13,000 |  |  |  | 50,000 |
Extensions and discoveries |  |  | 190,000 |  |  |  | 698,000 |
Sales of minerals in place |  |  | - |  |  |  | (11,000 | )
Production |  |  | (62,000 | ) |  |  | (394,000 | )
As of March 31, 2022 |  |  | 809,000 |  |  |  | 4,842,000 |
Revision of previous estimates |  |  | (108,000 | ) |  |  | 328,000 |
Purchase of minerals in place |  |  | 31,000 |  |  |  | 125,000 |
Extensions and discoveries |  |  | 69,000 |  |  |  | 188,000 |
Sales of minerals in place |  |  | - |  |  |  | - |
Production |  |  | (74,000 | ) |  |  | (534,000 | )
As of March 31, 2023 |  |  | 727,000 |  |  |  | 4,949,000 |
Summary of Proved Developed and Undeveloped Reserves | Summary of Proved Developed and Undeveloped Reserves as of March 31, 2023 and 2022: Summary of Proved Developed and Undeveloped Reserves
|  | Oil (Bbls) |  |  | Natural Gas (Mcf) |
Proved Developed Reserves: |  |  |  |  |  |  |  |
As of April 1, 2021 |  |  | 413,050 |  |  |  | 3,639,330 |
As of March 31, 2022 |  |  | 428,680 |  |  |  | 3,583,470 |
As of March 31, 2023 |  |  | 486,770 |  |  |  | 3,971,370 |
Proved Undeveloped Reserves: |  |  |  |  |  |  |  |
As of April 1, 2021 |  |  | 325,020 |  |  |  | 956,050 |
As of March 31, 2022 |  |  | 380,550 |  |  |  | 1,258,210 |
As of March 31, 2023 |  |  | 240,060 |  |  |  | 978,010 |
Schedule of Progress of Converting Proved Undeveloped Reserves | Progress of Converting Proved Undeveloped Reserves: Schedule of Progress of Converting Proved Undeveloped Reserves
|  | Oil & Natural Gas |  |  | Future |
|  | (BOE) |  |  | Development Costs |
PUDs, beginning of year |  |  | 590,259 |  |  | $ | 6,512,956 |
Revision of previous estimates |  |  | (89,073 | ) |  |  | 10,017 |
Sales of reserves |  |  | - |  |  |  | - |
Conversions to PD reserves |  |  | (186,360 | ) |  |  | (3,612,315 | )
Additional PUDs added |  |  | 88,239 |  |  |  | 926,882 |
PUDs, end of year |  |  | 403,065 |  |  | $ | 3,837,540 |
Schedule of Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves | Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves: Schedule of Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves
|  | March 31 |
|  | 2023 |  |  | 2022 |
Future cash inflows |  | $ | 94,972,000 |  |  | $ | 82,596,000 |
Future production costs and taxes |  |  | (23,800,000 | ) |  |  | (21,351,000 | )
Future development costs |  |  | (4,280,000 | ) |  |  | (6,839,000 | )
Future income taxes |  |  | (11,284,000 | ) |  |  | (8,586,000 | )
Future net cash flows |  |  | 55,608,000 |  |  |  | 45,820,000 |
Annual 10% discount for estimated timing of cash flows |  |  | (22,793,000 | ) |  |  | (19,900,000 | )
Standardized measure of discounted future net cash flows |  | $ | 32,815,000 |  |  | $ | 25,920,000 |
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows to Proved Oil and Gas Reserves | Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves: Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows to Proved Oil and Gas Reserves
|  | March 31 |
|  | 2023 |  |  | 2022 |
Sales of oil and gas produced, net of production costs |  | $ | (7,661,000 | ) |  | $ | (5,244,000 | )
Net changes in price and production costs |  |  | 8,937,000 |  |  |  | (16,829,000 | )
Changes in previously estimated development costs |  |  | 413,000 |  |  |  | (159,000 | )
Revisions of quantity estimates |  |  | (4,313,000 | ) |  |  | (2,594,000 | )
Net change due to purchases and sales of minerals in place |  |  | 2,030,000 |  |  |  | 568,000 |
Extensions and discoveries, less related costs |  |  | 3,277,000 |  |  |  | 5,105,000 |
Net change in income taxes |  |  | (1,801,000 | ) |  |  | (3,861,000 | )
Accretion of discount |  |  | 3,947,000 |  |  |  | 3,078,000 |
Changes in timing of estimated cash flows and other |  |  | 2,066,000 |  |  |  | (565,000 | )
Changes in standardized measure |  |  | 6,895,000 |  |  |  | 13,157,000 |
Standardized measure, beginning of year |  |  | 25,920,000 |  |  |  | 12,763,000 |
Standardized measure, end of year |  | $ | 32,815,000 |  |  | $ | 25,920,000 |

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