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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 5,567,495 $ 2,322,556
Adjustments to reconcile net income to net cash provided by operating activities:    
Depletion, depreciation, amortization, and accretion 6,677,511 4,428,829
Impairment expense 2,676,669 0
Accretion of discount on available for sale securities 0 (297,637)
(Gain) loss on derivative contracts (1,111,693) 195,617
Settlement (paid) received on derivative contracts (108,383) 760,542
Settlement of asset retirement obligation (1,600) (87,284)
Stock-based compensation expense 771,676 635,158
Deferred income tax benefit (779,676) (54,736)
Changes in assets and liabilities:    
Accounts receivable 346,839 1,070,784
Prepaid income taxes 0 319,770
Other assets and liabilities 385,445 354,014
Accounts payable, royalties payable, gathering fees payable, and other accrued liabilities (66,454) (572,099)
Income taxes payable 2,572,921 0
Net cash provided by operating activities 16,930,750 9,075,514
Cash flows from investing activities:    
Additions to unproved oil and gas properties (5,132,649) (2,993,155)
Additions to proved oil and gas properties (5,997,993) (26,425,017)
Additions to gathering system properties (228,327) (70,236)
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 705,165 886,981
Net cash used in investing activities (10,665,906) (9,544,194)
Cash flows from financing activities:    
Buyback of common shares 0 (1,203,708)
Dividends paid (2,751,372) (2,742,349)
Net cash used in financing activities (2,751,372) (3,946,057)
Effect of currency rates on cash, cash equivalents, and restricted cash (125,612) 22,593
Decrease in cash, cash equivalents, and restricted cash 3,387,860 (4,392,144)
Cash, cash equivalents, and restricted cash, beginning of period 6,989,793 13,873,628
Cash, cash equivalents, and restricted cash, end of period 10,377,653 9,481,484
Supplemental cash flow disclosures:    
Income tax paid - federal 1,325,000 140,000
Interest paid 9,552 0
Non-cash investing activities:    
Change in proved properties accrued in accounts payable (690,866) (1,471,985)
Change in gathering system accrued in accounts payable 71,366 45,862
Asset retirement obligation asset additions and adjustments 18,235 21,831
State (PA)    
Supplemental cash flow disclosures:    
Income tax paid (refund) 355,138 0
State (other)    
Supplemental cash flow disclosures:    
Income tax paid (refund) $ 1,710 $ (8,608)