XML 41 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 2,111,000 $ 1,917,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depletion and depreciation 2,330,000 1,766,000
Deferred income tax expense 418,000 503,000
Accretion of asset retirement obligation 107,000 98,000
Share-based compensation 89,000 95,000
Amortization of deferred financing costs 8,000 5,000
Change in:    
Accounts receivable, net 274,000 (328,000)
Other current assets (223,000) 98,000
Accounts payable, accrued and other liabilities 1,110,000 63,000
Net cash provided by operating activities 6,224,000 4,217,000
Cash flows from investing activities:    
Oil and gas properties (4,234,000) (7,457,000)
Purchases of support equipment and other non-current assets (37,000) (164,000)
Other 65,000 (27,000)
Net cash used in investing activities (4,206,000) (7,648,000)
Cash flows from financing activities:    
Repayments on long-term debt (2,000,000) 0
Borrowings on long-term debt 0 4,000,000
Deferred financing fees 0 (5,000)
Repurchase of common shares (2,000) 0
Net cash (used in) provided by financing activities (2,002,000) 3,995,000
Cash and cash equivalents:    
Net increase in cash and cash equivalents 16,000 564,000
Cash and cash equivalents, beginning of period 2,671,000 2,180,000
Cash and cash equivalents, end of period 2,687,000 2,744,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 101,000 60,000
Cash paid for income tax 0 1,000
Non-cash:    
Increase in oil and gas property due to asset retirement obligation 20,000 63,000
Accrued capital expenditures 0 2,193,000
Prepaid capital expenditures $ 35,000 $ 0