Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 8,697,999	$ 6,662,060
Adjustments to reconcile net income to net cash provided by operating activities:
Depletion, depreciation, amortization, and accretion	7,387,681	7,181,753
(Gain) loss on sale of properties	(1,375,000)	189,142
(Gain) loss on derivative contracts	(4,246,057)	1,938,465
Cash received from (paid for) settlements of derivative contracts	1,949,232	(1,381,898)
Stock-based compensation expense	510,460	330,232
Deferred income tax expense (benefit)	2,412,186	(572,405)
Changes in assets and liabilities:
Accounts receivable	745,217	(1,707,239)
Prepaid income taxes and other current assets	(1,625,244)	(173,513)
Accounts payable, royalties payable and other accrued liabilities	(1,471,460)	(545,286)
Other long-term liabilities		(1,615,313)
Net cash provided by operating activities	12,985,014	10,305,998
Cash flows from investing activities:
Acquisition of unproved oil and gas properties	(596,500)	(260,000)
Acquisition of proved oil and gas properties		(4,992)
Additions to unproved oil and gas properties	(952,345)	(1,787,114)
(Additions to) refunds of proved oil and gas properties	(9,411,916)	(22,481)
Additions to gathering system properties	(366,059)	(148,360)
Additions to land, buildings and other fixed assets	(588,325)
Prepaid drilling costs	(1,124)
Proceeds from sale of properties	1,375,000
Net cash used in investing activities	(10,541,269)	(2,222,947)
Cash flows from financing activities:
Buyback of common shares	(2,856,350)	(663,944)
Exercise of stock options	54,250
Repayment of revolving line of credit		(2,900,000)
Net cash used in financing activities	(2,802,100)	(3,563,944)
Effect of currency rates on cash, cash equivalents and restricted cash	12,548	(115,306)
Increase (decrease) in cash, cash equivalents and restricted cash	(345,807)	4,403,801
Cash, cash equivalents and restricted cash, beginning of year	14,959,518	10,555,717
Cash, cash equivalents and restricted cash, end of year	14,613,711	14,959,518
Supplemental cash flow disclosures:
Income taxes paid	2,794,422	4,130,493
Interest paid	119,138	136,833
Non-cash investing activities:
Change in proved properties accrued in accounts payable and accrued liabilities	1,464,965	(587,472)
Change in gathering system accrued in accounts payable and accrued liabilities	(40,782)	(48,961)
Asset retirement obligation asset additions and adjustments	$ 1,169,903	$ (135,900)