Asset Retirement Obligations |
9 Months Ended | ||||||||||||||||||||
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Nov. 30, 2025 | |||||||||||||||||||||
| Asset Retirement Obligation Disclosure [Abstract] | |||||||||||||||||||||
| Asset Retirement Obligations | Note 4 – Asset Retirement Obligations
The following table summarizes the change in the Company’s asset retirement obligations during the nine months ended November 30, 2025:
During the three and nine months ended November 30, 2025, the Company recognized accretion expense of $-0-. During the three and nine months ended November 30, 2024, the Company recognized accretion expense of $-0- and $11,691, respectively.
During the nine months ended November 30, 2025, the Company plugged four unprofitable wells, incurring plugging and abandonment costs of $104,952. These activities resulted in the settlement of $21,305 of asset retirement obligations and the recognition of $83,647 in plugging and abandonment losses.
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