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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 3,660,487 $ 2,212,562
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 134,069 246,061
Accretion expense 100,900 113,800
Unrealized loss on investments 166,829 20,318
(Gain) loss on disposal of property and equipment 3,436 (565,650)
Forgiveness of loan 0 (326,932)
Changes in assets and liabilities:    
Production accounts receivable (591,817) (368,644)
Other current assets (1,100) 28,855
Other assets 6,366 3,616
Accounts payable 118,550 (357,482)
Accrued expenses (410,338) (412,620)
Operational advances 63,186 160,621
Total adjustments (409,919) (1,458,057)
Net cash provided by operating activities 3,250,568 754,505
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of investments (3,062,910) (2,051,505)
Purchase of property and equipment (234,531) (112,815)
Proceeds from disposal of property and equipment 11,100 388,512
Net cash used in investing activities (3,286,341) (1,775,808)
CASH FLOWS FROM FINANCING ACTIVITIES    
Distributions (2,700,786) 0
Proceeds from options exercised 75,300 10,800
Net cash provided by (used in) financing activities (2,625,486) 10,800
NET CHANGE IN CASH AND EQUIVALENTS (2,661,259) (1,010,503)
CASH AND EQUIVALENTS - BEGINNING OF PERIOD 12,404,205 10,249,207
CASH AND EQUIVALENTS - END OF PERIOD $ 9,742,946 $ 9,238,704