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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 6,639,790 $ 2,688,577
Adjustments to reconcile net income to net cash provided by operating activities:    
Depletion, depreciation, amortization, and accretion 9,247,973 7,127,641
Impairment expense 2,676,669 0
Accretion of discount on available for sale securities 0 (297,637)
Gain on derivative contracts (2,076,000) (245,095)
Settlement received on derivative contracts 699,265 1,245,931
Settlement of asset retirement obligation (1,600) (88,992)
Stock-based compensation expense 1,148,289 944,267
Deferred income tax (benefit) expense (676,523) 584,088
Changes in assets and liabilities:    
Accounts receivable 1,328,523 1,545,431
Prepaid income taxes 0 (67,878)
Other assets and liabilities (191,487) (94,360)
Accounts payable, royalties payable, gathering fees payable, and other accrued liabilities (430,885) (1,520,707)
Income taxes payable 2,532,686 0
Net cash provided by operating activities 20,896,700 11,821,266
Cash flows from investing activities:    
Additions to unproved oil and gas properties (5,032,558) (3,100,294)
Additions to proved oil and gas properties (5,901,411) (28,728,498)
Additions to gathering system properties (384,124) (76,625)
Additions to land, buildings and property and equipment (12,102) (13,912)
Purchases of short term investments - available for sale 0 (4,045,785)
Proceeds from short term investments - held to maturity 0 23,116,930
Prepaid drilling costs 978,044 1,813,808
Net cash used in investing activities (10,352,151) (11,034,376)
Cash flows from financing activities:    
Buyback of common shares 0 (1,831,208)
Dividends paid (4,129,887) (4,116,777)
Net cash used in financing activities (4,129,887) (5,947,985)
Effect of currency rates on cash, cash equivalents, and restricted cash (168,288) 62,438
Increase (decrease) in cash, cash equivalents, and restricted cash 6,246,374 (5,098,657)
Cash, cash equivalents, and restricted cash, beginning of period 6,989,793 13,873,628
Cash, cash equivalents, and restricted cash, end of period 13,236,167 8,774,971
Supplemental cash flow disclosures:    
Income tax paid - federal 1,417,860 0
Interest paid 9,935 16,832
Non-cash investing activities:    
Change in proved properties accrued in accounts payable 2,266,859 818,504
Change in gathering system accrued in accounts payable 39,805 173,193
Asset retirement obligation asset additions and adjustments 25,196 39,597
State (PA)    
Supplemental cash flow disclosures:    
Income tax paid 755,138 0
State (other)    
Supplemental cash flow disclosures:    
Income tax paid $ 26,710 $ 4,000