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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Operating revenue:        
Total operating revenues $ 1,891,265 $ 1,656,443 $ 5,368,327 $ 4,811,472
Operating expenses:        
Production 460,241 401,035 1,311,066 1,143,116
Accretion of asset retirement obligation 7,705 7,225 23,229 22,121
Depreciation, depletion, and amortization 636,424 400,337 1,760,409 1,268,703
General and administrative 340,514 335,152 1,042,084 981,664
Total operating expenses 1,444,884 1,143,749 4,136,788 3,415,604
Operating income 446,381 512,694 1,231,539 1,395,868
Other income (expenses):        
Interest income 7,315 36,936 50,891 86,995
Interest expense (2,868) (1,075) (5,026) (3,235)
Net other income (expense) 4,447 35,861 45,865 83,760
Income before provision for income taxes 450,828 548,555 1,277,404 1,479,628
Total income tax (benefit) expense (18,305) 202,945 200,034 398,971
Income tax expense (benefit):        
Current 257,042 32,959 355,720 79,123
Deferred (275,347) 169,986 (155,686) 319,848
Net income $ 469,133 $ 345,610 $ 1,077,370 $ 1,080,657
Income per common share:        
Basic: $ 0.23 $ 0.16 $ 0.52 $ 0.51
Diluted: $ 0.22 $ 0.16 $ 0.51 $ 0.50
Weighted average common shares outstanding:        
Basic: 2,046,000 2,103,503 2,070,086 2,120,611
Diluted: 2,091,808 2,151,783 2,114,936 2,169,708
Dividends declared per share $ 0.10 $ 0.10
Oil Sales [Member]        
Operating revenue:        
Total operating revenues $ 1,563,663 $ 1,387,008 $ 4,595,585 $ 3,916,492
Natural Gas Sales [Member]        
Operating revenue:        
Total operating revenues 264,741 223,587 616,728 789,903
Other [Member]        
Operating revenue:        
Total operating revenues $ 62,861 $ 45,848 $ 156,014 $ 105,077