SUBSEQUENT EVENTS	12 Months Ended
Mar. 31, 2012
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 12 – SUBSEQUENT EVENTS On April 16, 2012, the Company agreed to sell an aggregate of 2,950,000 units, with each unit consisting of one share of Company common stock (the "Shares") and 0.35 of a warrant to purchase one share of the Company's common stock at an exercise price of $2.30 per share (the "Warrants", and collectively with the Shares, the "Units") in a registered direct offering (the "Offering"). On April 18, 2012, the Offering closed, and the Company received an aggregate of $5,900,000 in gross funding and approximately $5,500,000 in net proceeds after paying commissions and other expenses associated with the Offering. The Company used the net proceeds to pay down expenses related to drilling, lease operating, workover activities and for general corporate purposes, including general and administrative expenses. Additionally, the Company may receive up to an additional $2,374,750 upon exercise of the Warrants. A total of 2,950,000 Shares and 1,032,500 Warrants were sold in connection with the Offering.

SUBSEQUENT EVENTS

12 Months Ended

Mar. 31, 2012

NOTE 12 – SUBSEQUENT EVENTS

On April 16, 2012, the Company agreed to sell an aggregate of 2,950,000 units, with each unit consisting of one share of Company common stock (the "Shares") and 0.35 of a warrant to purchase one share of the Company's common stock at an exercise price of $2.30 per share (the "Warrants", and collectively with the Shares, the "Units") in a registered direct offering (the "Offering").

On April 18, 2012, the Offering closed, and the Company received an aggregate of $5,900,000 in gross funding and approximately $5,500,000 in net proceeds after paying commissions and other expenses associated with the Offering. The Company used the net proceeds to pay down expenses related to drilling, lease operating, workover activities and for general corporate purposes, including general and administrative expenses. Additionally, the Company may receive up to an additional $2,374,750 upon exercise of the Warrants. A total of 2,950,000 Shares and 1,032,500 Warrants were sold in connection with the Offering.