Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Cash flows from operating activities:
Net income	$ 1,126,000	$ 2,545,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depletion and depreciation	1,332,000	788,000
Deferred income tax expense	161,000	694,000
Accretion of asset retirement obligation	130,000	125,000
Share-based compensation	133,000	66,000
Change in:
Accounts receivable, net	(704,000)	(938,000)
Other current assets	(148,000)	62,000
Accounts payable, accrued and other liabilities	(48,000)	(258,000)
Net cash provided by operating activities	1,982,000	3,084,000
Cash flows from investing activities:
Oil and gas properties	(8,483,000)	(4,663,000)
Purchases of support equipment and other non-current assets	(90,000)	(96,000)
Net cash (used in) investing activities	(8,573,000)	(4,759,000)
Cash flows from financing activities:
Borrowings on long term debt	2,000,000	0
Deferred financing fees	(30,000)	0
Purchase of treasury shares	0	(84,000)
Net cash (used in) financing activities	1,970,000	(84,000)
Cash and cash equivalents:
Net decrease in cash and cash equivalents	(4,621,000)	(1,759,000)
Cash and cash equivalents, beginning of year	6,778,000	4,051,000
Cash and cash equivalents, end of period	2,157,000	2,292,000
Supplemental disclosure of cash flow information:
Cash paid for interest	3,000	0
Cash paid for income tax	341,000	1,000
Non-cash:
Increase in oil and gas property due to asset retirement obligation	35,000	10,000
Accrued capital expenditures	923,000	957,000
Prepaid capital expenditures	$ 112,000	$ 46,000