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Oil and Gas Reserve Data (Unaudited) (Tables)
 12 Months Ended
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.

 

   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:

 

   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:

 

   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:

 

   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:

 

           
   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:

 

           
   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