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Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Mar. 31, 2025
Current assets    
Cash and cash equivalents $ 2,546,722 $ 1,753,955
Accounts receivable:    
Oil and natural gas sales 875,992 1,113,588
Trade 48,731 67,951
Prepaid drilling 19,774 24,381
Prepaid costs and expenses 52,805 60,981
Total current assets 3,544,024 3,020,856
Property and equipment, at cost    
Oil and gas properties, using the full cost method 51,992,623 51,611,782
Other 121,926 121,926
Accumulated depreciation, depletion and amortization (37,312,801) (36,637,530)
Property and equipment, net 14,801,748 15,096,178
Investments – cost basis 2,100,000 2,100,000
Operating lease, right-of-use asset 114,200 126,525
Other noncurrent assets 3,224 4,298
Total assets 20,563,196 20,347,857
Current liabilities    
Accounts payable and accrued expenses 376,381 307,387
Income tax payable 308,118 192,802
Operating lease liability, current 52,159 51,003
Total current liabilities 736,658 551,192
Long-term liabilities    
Operating lease liability, long-term 62,041 75,522
Asset retirement obligations 682,323 688,842
Deferred income tax liabilities 281,918 320,604
Total long-term liabilities 1,026,282 1,084,968
Total liabilities 1,762,940 1,636,160
Commitments and contingencies
Stockholders' equity    
Preferred stock - $1.00 par value;10,000,000 shares authorized; none outstanding
Common stock - $0.50 par value; 40,000,000 shares authorized;2,239,283 shares issued; and, 2,046,000 shares outstanding as of June 30, 2025 and March 31, 2025, respectively 1,119,641 1,119,641
Additional paid-in capital 8,896,161 8,844,953
Retained earnings 10,663,200 10,625,849
Treasury stock, at cost (193,283 shares) (1,878,746) (1,878,746)
Total stockholders' equity 18,800,256 18,711,697
Total liabilities and stockholders’ equity $ 20,563,196 $ 20,347,857