Unaudited Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 9,907,653	$ 6,519,793
Accounts receivable	5,496,883	5,843,722
Fair value of derivatives	732,528	0
Prepaid income taxes	0	975,963
Other current assets	396,264	792,041
Total current assets	16,533,328	14,131,519
Oil and gas properties, successful efforts method
Proved properties	197,197,902	191,879,210
Unproved properties	33,496,835	28,364,186
Accumulated depletion, depreciation, amortization and impairment	(131,899,045)	(123,281,395)
Total oil and gas properties, net	98,795,692	96,962,001
Gathering system	43,416,065	43,116,371
Accumulated depletion, depreciation, amortization and impairment	(37,057,605)	(36,449,511)
Total gathering system, net	6,358,460	6,666,860
Land	637,764	637,764
Buildings and other property and equipment, net	245,555	259,335
Total property and equipment, net	106,037,471	104,525,960
Other assets:
Operating lease right-of-use assets, long term	295,317	344,589
Restricted cash	470,000	470,000
Prepaid drilling costs	277,552	982,717
Total non-current assets	107,080,340	106,323,266
Total assets	123,613,668	120,454,785
Current liabilities
Accounts payable trade	2,018,533	2,334,732
Gathering fees payable	1,139,057	997,016
Royalties payable	1,553,262	1,400,976
Income taxes payable	1,596,958	0
Accrued capital expenditures	225,923	572,079
Accrued compensation	465,055	695,018
Other accrued liabilities	283,540	371,503
Fair value of derivatives	0	487,548
Operating lease liabilities	121,057	121,135
Total current liabilities	7,403,385	6,980,007
Non-current liabilities
Asset retirement obligations	3,764,816	3,652,296
Deferred income taxes	11,958,901	12,738,577
Operating lease liabilities, long term	296,250	355,776
Total non-current liabilities	16,019,967	16,746,649
Total liabilities	23,423,352	23,726,656
Commitments and contingencies (Note 11)
Shareholders' equity
Preferred shares, no par value, unlimited shares authorized, none issued or outstanding	0	0
Common shares, no par value, unlimited shares authorized and 22,017,405 shares issued and outstanding at June 30, 2025 and 22,008,766 issued and outstanding at December 31, 2024	116,081,031	116,081,031
Additional paid-in capital	12,890,583	12,118,907
Accumulated deficit	(38,688,953)	(41,505,076)
Accumulated other comprehensive income	9,907,655	10,033,267
Total shareholders' equity	100,190,316	96,728,129
Total liabilities and shareholders' equity	$ 123,613,668	$ 120,454,785