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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 291,039 $ 465,614
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income tax expense 74,615 88,683
Stock-based compensation 52,439 54,975
Depreciation, depletion and amortization 539,697 486,186
Accretion of asset retirement obligations 7,711 7,356
Amortization of debt issuance costs 1,075 1,081
Changes in operating assets and liabilities    
Decrease in accounts receivable 45,041 469,846
Decrease in prepaid expenses 4,747 12,528
(Increase) decrease in right-of-use asset (143,648) 13,894
Increase in accounts payable and accrued expenses 61,874 32,111
Settlement of asset retirement obligations (11,529) (2,185)
Increase in income taxes payable 11,905
(Increase) decrease in operating lease liability 143,648 (13,894)
Net cash provided by operating activities 1,078,614 1,616,195
Cash flows from investing activities:    
Additions to oil and gas properties (517,387) (542,840)
Investments in limited liability companies at cost (200,000)
Proceeds from sale of oil and gas properties and equipment 278,749
Net cash used in investing activities (717,387) (264,091)
Cash flows from financing activities:    
Proceeds from exercise of stock options 77,641 2,962
Dividends paid (209,000) (213,600)
Acquisition of treasury stock (188,637)
Debt issuance costs (750)
Net cash used in financing activities (319,996) (211,388)
Net increase in cash and cash equivalents 41,231 1,140,716
Cash and cash equivalents at beginning of period 2,473,484 2,235,771
Cash and cash equivalents at end of period 2,514,715 3,376,487
Supplemental disclosure of cash flow information:    
Cash paid for interest 9
Accrued capital expenditures included in accounts payable 4,727 4,487
Non-cash investing and financing activities:    
Asset retirement obligations $ 1,130 $ 1,080