Note 6 - Supplemental Oil and Gas Information (Unaudited)

12 Months Ended

Jul. 31, 2025

Notes to Financial Statements

Oil and Gas, Supplemental Disclosure [Text Block]

 NOTE 6 — SUPPLEMENTAL OIL AND GAS INFORMATION (Unaudited)

The following supplemental information is presented in accordance with FASB ASC Topic 932, Extractive Activities—Oil and Gas, and the SEC’s Regulation S-K, Subpart 1200, which require disclosures of proved oil and gas reserve quantities and the standardized measure of discounted future net cash flows.

The standardized measure and PV-10 values presented are not intended to represent the fair value of the Company’s reserves.

Standardized Measure of Discounted Future Net Cash Flows

The standardized measure of discounted future net cash flows relating to the Company’s proved reserves as of July 31, 2025 is presented below. The estimates are based on the 12-month average of the first-day-of-the-month prices for oil and natural gas, held constant throughout the life of the properties, and current cost estimates as of each year-end. The future net cash flows are discounted at 10 percent per annum as required by GAAP.

	2025
Future cash inflows	$	523,015
Future production	0.641 Oil (MMBL) & 166.531 Gas (MMCF
Future development costs	$	10,875
Future LOE	$	273,427
Future net cash flows (undiscounted)	$	225,431
10% annual discount	$	151,456
Standardized measure of discounted future net cash flows	$	156,671