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Consolidated Balance Sheets - USD ($)
Sep. 30, 2025
Mar. 31, 2025
Current assets    
Cash and cash equivalents $ 2,746,692 $ 1,753,955
Accounts receivable:    
Oil and natural gas sales 876,373 1,113,588
Trade 48,731 67,951
Prepaid costs and expenses 50,959 60,981
Prepaid drilling 13,756 24,381
Total current assets 3,736,511 3,020,856
Property and equipment, at cost    
Oil and gas properties, using the full cost method 52,270,022 51,611,782
Other 121,926 121,926
Accumulated depreciation, depletion and amortization (37,975,448) (36,637,530)
Property and equipment, net 14,416,500 15,096,178
Investments – cost basis 2,300,000 2,100,000
Operating lease, right-of-use asset 101,595 126,525
Other noncurrent assets 2,149 4,298
Total assets 20,556,755 20,347,857
Current liabilities    
Accounts payable and accrued expenses 253,744 307,387
Income tax payable 147,079 192,802
Operating lease liability, current 53,341 51,003
Total current liabilities 454,164 551,192
Long-term liabilities    
Operating lease liability, long-term 48,254 75,522
Asset retirement obligations 689,954 688,842
Deferred income tax liabilities 197,588 320,604
Total long-term liabilities 935,796 1,084,968
Total liabilities 1,389,960 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 September 30, 2025 and March 31, 2025, respectively 1,119,641 1,119,641
Additional paid-in capital 8,939,194 8,844,953
Retained earnings 10,986,706 10,625,849
Treasury stock, at cost (193,283 shares) (1,878,746) (1,878,746)
Total stockholders’ equity 19,166,795 18,711,697
Total liabilities and stockholders’ equity $ 20,556,755 $ 20,347,857