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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net income $ 1,080,657 $ 3,755,173
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income tax expense 319,848
Stock-based compensation 172,670 101,462
Depreciation, depletion and amortization 1,268,703 1,268,016
Accretion of asset retirement obligations 22,121 22,902
Amortization of debt issuance costs 3,235 9,394
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 454,133 (738,558)
Decrease in right-of-use asset 42,076 40,529
Decrease in prepaid expenses 36,023 31,249
Increase (decrease) in accounts payable and accrued expenses 32,042 (81,236)
Settlement of asset retirement obligations (14,715) (17,482)
Decrease in operating lease liability (42,076) (40,529)
Net cash provided by operating activities 3,374,717 4,350,920
Cash flows from investing activities:    
Additions to oil and gas properties (1,471,543) (4,760,880)
Additions to other property and equipment (1,718)
Drilling refunds 18,329
Investment in limited liability companies at cost (200,000) (225,000)
Proceeds from sale of oil and gas properties and equipment 306,513
Net cash used in investing activities (1,365,030) (4,969,269)
Cash flows from financing activities:    
Proceeds from exercise of stock options 2,962 16,700
Profits from purchase of stock by insider 30,179
Debt issuance costs (750)
Proceeds from long-term debt 675,000
Reduction of long-term debt (675,000)
Dividends paid (213,600)
Acquisition of treasury stock (455,132) (168,260)
Net cash used in financing activities (666,520) (121,381)
Net increase (decrease) in cash and cash equivalents 1,343,167 (739,730)
Cash and cash equivalents at beginning of period 2,235,771 1,370,766
Cash and cash equivalents at end of period 3,578,938 631,036
Non-cash investing and financing activities:    
Asset retirement obligations $ 2,838 $ 21,554