2. Other Assets (Details) (USD $)	Dec. 31, 2012	Mar. 31, 2012
Other Assets Details
Drilling and completion cost prepayments	$ 264,000	$ 230,000
Lease and well equipment inventory	323,000	412,000
Prepaid insurance premiums	33,000	73,000
Prepaid income tax	132,000	0
Other current assets	33,000	34,000
Total other current assets	$ 785,000	$ 749,000

The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).

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Carrying amount as of the balance sheet date of unamortized costs of insurance coverage, which will be charged against earnings ratably over the period in which contractually agreed upon coverage's will be in effect; such periods expire within one year or the normal operating cycle, if longer.

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- Definition

Carrying amount as of the balance sheet date of payments made in advance for income and other taxes, which will be charged against earnings within one year or the normal operating cycle, if longer.

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