Oil and Gas Reserve Data (Unaudited) (Tables)
|
12 Months Ended |
Mar. 31, 2025 |
|---|
| Extractive Industries [Abstract] |
|
| Schedule of Weighted Average First-day-of-the-month Prices Used for Oil and Gas Reserve |
The
following table presents the weighted average first-day-of-the-month prices used for oil and gas reserve preparation, based upon SEC
guidelines.
Schedule of Weighted Average First-day-of-the-month Prices Used for Oil and Gas Reserve
| | |
March 31, | | |
| |
| | |
2025 | | |
2024 | | |
% Change | |
| Prices utilized in the reserve estimates before adjustments: | |
| | | |
| | | |
| | |
| Oil per Bbl | |
$ | 71.00 | | |
$ | 73.96 | | |
| (4 | %) |
| Natural gas per MMBtu | |
$ | 2.44 | | |
$ | 2.45 | | |
| - | |
|
| Schedule of Changes in Proved Reserve |
Changes
in Proved Reserves:
Schedule of Changes in Proved Reserve
| | |
Oil
(Bbls) | | |
Natural Gas
(Mcf) | |
| Proved Developed and Undeveloped Reserves: | |
| | | |
| | |
| As of April 1, 2023 | |
| 727,000 | | |
| 4,949,000 | |
| Revision of previous estimates | |
| (86,000 | ) | |
| (463,000 | ) |
| Purchase of minerals in place | |
| 24,000 | | |
| 121,000 | |
| Extensions and discoveries | |
| 199,000 | | |
| 437,000 | |
| Sales of minerals in place | |
| (3,000 | ) | |
| (4,000 | ) |
| Production | |
| (70,000 | ) | |
| (503,000 | ) |
| As of March 31, 2024 | |
| 791,000 | | |
| 4,537,000 | |
| Revision of previous estimates | |
| (132,000 | ) | |
| (71,000 | ) |
| Purchase of minerals in place | |
| 40,000 | | |
| 221,000 | |
| Extensions and discoveries | |
| 60,000 | | |
| 243,000 | |
| Sales of minerals in place | |
| - | | |
| - | |
| Production | |
| (84,000 | ) | |
| (570,000 | ) |
| As of March 31, 2025 | |
| 675,000 | | |
| 4,360,000 | |
|
| Summary of Proved Developed and Undeveloped Reserves |
Summary
of Proved Developed and Undeveloped Reserves as of March 31, 2025 and 2024:
Summary of Proved Developed and Undeveloped Reserves
| | |
Oil
(Bbls) | | |
Natural Gas
(Mcf) | |
| Proved Developed Reserves: | |
| | | |
| | |
| As of April 1, 2023 | |
| 486,770 | | |
| 3,971,370 | |
| As of March 31, 2024 | |
| 444,610 | | |
| 3,566,240 | |
| As of March 31, 2025 | |
| 405,840 | | |
| 3,654,900 | |
| Proved Undeveloped Reserves: | |
| | | |
| | |
| As of April 1, 2023 | |
| 240,060 | | |
| 978,010 | |
| As of March 31, 2024 | |
| 346,330 | | |
| 970,880 | |
| As of March 31, 2025 | |
| 269,000 | | |
| 704,810 | |
|
| Schedule of Progress of Converting Proved Undeveloped Reserves |
Progress
of Converting Proved Undeveloped Reserves:
Schedule
of Progress of Converting Proved Undeveloped Reserves
| | |
Oil & Natural Gas (BOE) | | |
Future Development Costs | |
| PUDs, beginning of year | |
| 508,141 | | |
$ | 5,481,477 | |
| Revision of previous estimates | |
| (95,438 | ) | |
| (1,621,802 | ) |
| Sales of reserves | |
| - | | |
| - | |
| Conversions to PD reserves | |
| (84,006 | ) | |
| (645,145 | ) |
| Additional PUDs added | |
| 57,765 | | |
| 797,445 | |
| PUDs, end of year | |
| 386,462 | | |
$ | 4,011,975 | |
|
| Schedule of Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves |
Standardized
Measure of Discounted Future Net Cash Flows Relating to Proved Reserves:
Schedule of Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves
| | |
| | | |
| | |
| | |
March 31 | |
| | |
2025 | | |
2024 | |
| Future cash inflows | |
$ | 59,135,000 | | |
$ | 73,290,000 | |
| Future production costs and taxes | |
| (18,172,000 | ) | |
| (21,634,000 | ) |
| Future development costs | |
| (4,137,000 | ) | |
| (5,481,000 | ) |
| Future income taxes | |
| (4,982,000 | ) | |
| (7,067,000 | ) |
| Future net cash flows | |
| 31,844,000 | | |
| 39,108,000 | |
| Annual 10% discount for estimated timing of cash flows | |
| (11,769,000 | ) | |
| (14,480,000 | ) |
| Standardized measure of discounted future net cash flows | |
$ | 20,075,000 | | |
$ | 24,628,000 | |
|
| Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows to Proved Oil and Gas Reserves |
Changes
in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves:
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows to Proved Oil and Gas Reserves
| | |
| | | |
| | |
| | |
March 31 | |
| | |
2025 | | |
2024 | |
| Sales of oil and gas produced, net of production costs | |
$ | (5,511,000 | ) | |
$ | (4,936,000 | ) |
| Net changes in price and production costs | |
| (2,735,000 | ) | |
| (14,394,000 | ) |
| Changes in previously estimated development costs | |
| (1,111,000 | ) | |
| (77,000 | ) |
| Revisions of quantity estimates | |
| (5,155,000 | ) | |
| (3,620,000 | ) |
| Net change due to purchases and sales of minerals in place | |
| 1,996,000 | | |
| 1,146,000 | |
| Extensions and discoveries, less related costs | |
| 1,713,000 | | |
| 7,208,000 | |
| Net change in income taxes | |
| 1,309,000 | | |
| 2,208,000 | |
| Accretion of discount | |
| 2,321,000 | | |
| 2,908,000 | |
| Changes in timing of estimated cash flows and other | |
| 2,620,000 | | |
| 1,370,000 | |
| Changes in standardized measure | |
| (4,553,000 | ) | |
| (8,187,000 | ) |
| Standardized measure, beginning of year | |
| 24,628,000 | | |
| 32,815,000 | |
| Standardized measure, end of year | |
$ | 20,075,000 | | |
$ | 24,628,000 | |
|