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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 226,559 $ 218,960
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 256,643 614,535
Accretion expense 599,900 608,700
Unrealized loss on investments 27,051 78,673
Gain on disposal of property and equipment (80,318) (20,255)
Changes in assets and liabilities:    
Production accounts receivable 384,833 1,579,829
Other current assets 0 (1,600)
Other assets (4,778) 0
Accounts payable 6,946 156,197
Accrued expenses (633,050) (564,110)
Operational advances 118,519 38,895
Total adjustments 675,746 2,490,864
Net cash provided by operating activities 902,305 2,709,824
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of investments (712,961) (541,399)
Purchase of property and equipment 0 (241,214)
Proceeds from disposal of property and equipment 69,293 19,078
Net cash used in investing activities (643,668) (763,535)
CASH FLOWS FROM FINANCING ACTIVITIES    
Distributions (962,757) (2,655,109)
Proceeds from options exercised 43,800 190,800
Net cash used in financing activities (918,957) (2,464,309)
NET CHANGE IN CASH AND EQUIVALENTS (660,320) (518,020)
CASH AND EQUIVALENTS - BEGINNING OF PERIOD 9,586,524 13,159,037
CASH AND EQUIVALENTS - END OF PERIOD $ 8,926,204 $ 12,641,017