v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,100,363 $ 972,038
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 217,591 96,540
Accretion expense 335,300 266,700
Unrealized (gain) loss on investments 98,741 (28,240)
(Gain) loss on disposal of property and equipment 2,395 (96,968)
Changes in assets and liabilities:    
Production accounts receivable (341,338) (306,328)
Other current assets 0 8,096
Other assets (3,933) (3,840)
Accounts payable 19,184 32,383
Accrued expenses (570,098) (540,824)
Operational advances 78,363 71,963
Total adjustments (163,795) (500,518)
Net cash provided by operating activities 936,568 471,520
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of investments (321,200) (1,522,508)
Proceeds from sale of investments 1,184,883 0
Purchase of property and equipment 0 (78,048)
Proceeds from disposal of property and equipment 0 41,943
Net cash provided by (used in) investing activities 863,683 (1,558,613)
NET CHANGE IN CASH AND EQUIVALENTS 1,800,251 (1,087,093)
CASH AND EQUIVALENTS - BEGINNING OF PERIOD 8,657,066 9,219,826
CASH AND EQUIVALENTS - END OF PERIOD $ 10,457,317 $ 8,132,733