Note 3 - Oil and Gas Properties

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Oil and Gas, Property and Equipment [Text Block]

NOTE 3 – OIL AND GAS PROPERTIES

Oil and gas properties at March 31, 2024 and December 31, 2023 consisted of the following:

	Balance					Balance
Account	12/31/2023			Additions		03/31/2024
Leasehold Improvements - Chicorica	$	40,000		$	-	$	40,000
Leasehold Improvements - Undeveloped		63,973			-		63,973
Lease Acquisition and Development Costs - Logan County		1,739,404			-		1,741,669
Asset retirement obligation – true-up		1,348			-		1,348
(Accumulated depletion)		(30,362	)		-		(30,362	)
Total oil and gas related assets	$	1,814,363		$	-	$	1,814,363