Wow, just wow.
Let's start with the Q4 quarterly:
Gas: 18892 mcf
Oil: 0 boe
Receipts: $94k
Production: $179k
This implies that SGC earns $4.76/mcf on gas sales, and costs $9.47/mcf to produce.
Not a great business, but I'm sure they make it up on volume.
In the Q1 quarterly:
Gas: 17672 mcf
Oil: 3579 boe
Receipts: $160k
Production: $859k
Take the figures for gas from Q4 and apply them here.
What's left is oil.
For oil, they earn $21/boe and it cost them $193/boe to produce.
I think I know why the previous owners of the oil assets went bankrupt.
Ann: March 2021 Quarterly Activities & Cash Flow Report, page-2
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