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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,110,540 $ 1,375,833
Adjustments to reconcile to net cash provided by (used in) operating activities:    
Depreciation, depletion and amortization 70,354 109,461
Accretion expense 51,800 58,800
Unrealized loss on investments 115,950 20,310
Gain on disposal of property and equipment 0 (565,650)
Forgiveness of loan 0 (326,932)
Changes in assets and liabilities:    
Production accounts receivable 184,408 (293,661)
Other current assets (1,100) 14,005
Other assets 6,366 3,370
Accounts payable 44,892 (355,527)
Accrued expenses (534,154) (479,744)
Operational advances 27,101 5,490
Total adjustments (34,383) (1,810,078)
Net cash provided by (used in) operating activities 1,076,157 (434,245)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of investments (1,022,485) (27,351)
Purchase of property and equipment (11,768) (112,815)
Proceeds from disposal of property and equipment 0 388,512
Net cash provided by (used in) investing activities (1,034,253) 248,346
NET CHANGE IN CASH AND EQUIVALENTS 41,904 (185,899)
CASH AND EQUIVALENTS - BEGINNING OF PERIOD 12,404,205 10,249,207
CASH AND EQUIVALENTS - END OF PERIOD $ 12,446,109 $ 10,063,308