Accrued Liabilities

12 Months Ended

Mar. 31, 2012

Notes to Financial Statements

Accrued Liabilities

4. Accrued Liabilities

Accrued liabilities as of March 31, 2012 and 2011 consisted of the following:

	2012		2011
Accrued operations payable	$	1,472,000	$	239,000
Accrued compensation		445,000		223,000
Accrued income tax payable and other		393,000		238,000
Revenue and production taxes payable		167,000		340,000
Short term asset retirement obligation		133,000		127,000
Total accrued liabilities	$	2,610,000	$	1,167,000