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Condensed Consolidated Statements of Operations (USD $)
3 Months Ended 6 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Oil and gas sales $ 5,161,000 $ 4,627,000 $ 10,375,000 $ 8,209,000
Well service and water-disposal revenue 32,000 45,000 56,000 58,000
Total revenues 5,193,000 4,672,000 10,431,000 8,267,000
Expenses:        
Oil and gas production 1,198,000 868,000 2,217,000 1,703,000
Production tax 500,000 431,000 973,000 740,000
Well service and water-disposal 30,000 19,000 49,000 56,000
Depletion and depreciation 1,185,000 980,000 2,330,000 1,766,000
Accretion of asset retirement obligation 54,000 49,000 107,000 98,000
General and administrative 771,000 659,000 2,029,000 1,352,000
Total expenses 3,738,000 3,006,000 7,705,000 5,715,000
Income from operations 1,455,000 1,666,000 2,726,000 2,552,000
Other income (expense):        
Interest and other income 5,000 7,000 9,000 15,000
Interest and other expenses (53,000) (44,000) (114,000) (77,000)
Total other income (expense) (48,000) (37,000) (105,000) (62,000)
Income before income tax 1,407,000 1,629,000 2,621,000 2,490,000
Current income tax expense 86,000 43,000 92,000 70,000
Deferred income tax expense 207,000 362,000 418,000 503,000
Total income tax expense 293,000 405,000 510,000 573,000
Net income $ 1,114,000 $ 1,224,000 $ 2,111,000 $ 1,917,000
Per share amounts:        
Basic $ 0.65 $ 0.72 $ 1.23 $ 1.12
Diluted $ 0.64 $ 0.72 $ 1.22 $ 1.12
Weighted average common shares outstanding:        
Basic 1,718,964 1,710,445 1,719,003 1,710,445
Diluted 1,728,794 1,710,445 1,727,804 1,710,445