Note 5 - Supplemental Oil and Gas Information

9 Months Ended

Apr. 30, 2026

Oil and Gas, Supplemental Disclosure [Text Block]

NOTE 5 — SUPPLEMENTAL OIL AND GAS INFORMATION

The following supplemental information is presented in accordance with FASB ASC Topic 932, Extractive Activities—Oil and Gas, and the SEC’s Regulation S-K, Subpart 1200, which require disclosures of proved oil and gas reserve quantities and the standardized measure of discounted future net cash flows.

The standardized measure and PV-10 values presented are not intended to represent the fair value of the Company’s reserves.

Standardized Measure of Discounted Future Net Cash Flows

The standardized measure of discounted future net cash flows relating to the Company’s proved reserves as of July 31, 2025 is presented below. The estimates are based on the 12-month average of the first-day-of-the-month prices for oil and natural gas, held constant throughout the life of the properties, and current cost estimates as of each year-end. The future net cash flows are discounted at 10 percent per annum as required by GAAP.

	2025
Future cash inflows	$	523,015
Future production	0.641 Oil (MMBL) & 166.531 Gas (MMCF
Future development costs	$	10,875
Future LOE	$	273,427
Future net cash flows (undiscounted)	$	225,431
10% annual discount	$	151,456
Standardized measure of discounted future net cash flows	$	156,671

- Definition

The entire disclosure for oil- and gas-producing activities considered to be supplementary information. Includes, but is not limited to, proved reserve quantity, cost incurred and capitalized, result of operation, standardized measure, and change in standardized measure of discounted future cash flow.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478688/932-270-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 12.A.3.e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477759/932-235-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section S50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479097/932-235-S50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-8

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/932/tableOfContent

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 36
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-36

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 932
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477215/932-235-50-5

+ Details

NORTHERN MINERALS & EXPLORATION LTD. 10-Q