Note 5 - Supplemental Oil and Gas Information

12 Months Ended

Jul. 31, 2026

Notes to Financial Statements

Oil and Gas, Supplemental Disclosure [Text Block]

NOTE 5 — SUPPLEMENTAL OIL AND GAS INFORMATION

The Company provides supplemental oil and gas information in accordance with ASC 932, Extractive Activities—Oil and Gas.

As of July 31, 2026, the Company's oil and gas properties had a carrying value of $0 following the recognition of impairment losses. Based on the Company's most recent reserve evaluation, no proved oil and gas reserves were reported as of July 31, 2026. Accordingly, the standardized measure of discounted future net cash flows attributable to proved reserves was $0 at July 31, 2026.

Notwithstanding the absence of reported proved reserves, the Company's wells remain operational and continue to produce oil and natural gas. The Company expects to continue recognizing revenue from production activities as oil and natural gas are sold. Future production and revenues will depend on actual well performance, commodity prices, and operating conditions.

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