CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2012	Mar. 31, 2011
Cash	$ 683,979	$ 2,471,108
Accounts receivable	1,416,819	806,098
Inventories	63,868
Other Current Assets	199,677	152,793
Current Portion of Note Receivable	60,157
Total	2,424,500	3,429,999
Oil and Gas Properties (Full Cost Method)	66,240,375	24,650,840
Other Property and Equipment	646,611	93,199
Total Property and Equipment	66,886,986	24,744,039
Accumulated Depletion, Depreciation and Amortization	(5,716,989)	(3,753,275)
Total Property, Plant and Equipment, Net	61,169,997	20,990,764
Other Assets	426,570	557,112
Total Assets	64,021,067	24,977,875
Accounts Payable	8,605,490	2,236,917
Common Stock Payable	84,431	503,750
Accrued Expenses	1,686,096	255,239
Advances From Working Interest Owners	1,349,066	357,399
Notes Payable	22,000,000
Asset Retirement Obligation, current	90,000
Current Portion of Long-Term Debt	76,894	30,727
Total	33,891,977	3,384,032
Asset Retirement Obligation, net of current portion	985,152	409,112
Notes Payable, net of current portion	25,489	60,114
Commitments and Contingencies (see Note 7)
Preferred Stock Series A, 2,000 Shares Authorized of $0.001 Par, 2,000 Shares issued and Outstanding Preferred Stock Series B, 3,000 Shares Authorized of $0.001 Par, 2,824 Shares issued and Outstanding	8,262,354
Common Stock, 100,000,000 Shares Authorized of $0.001 Par, 19,581,657 Shares Issued and 19,544,757 Outstanding Shares at March 31, 2012 and 16,727,713 Issued and 16,690,813 Outstanding Shares at March 31, 2011, respectively	19,582	16,728
Additional Paid in Capital	35,791,345	28,461,239
Accumulated Deficit	(14,905,673)	(7,304,191)
Common Stock Held in Treasury, 36,900 Shares, at Cost	(49,159)	(49,159)
Total Stockholders' Equity	29,118,449	21,124,617
Total Liabilities and Stockholders' Equity	64,021,067	24,977,875
Series A Preferred Stock
Preferred Stock Series A, 2,000 Shares Authorized of $0.001 Par, 2,000 Shares issued and Outstanding Preferred Stock Series B, 3,000 Shares Authorized of $0.001 Par, 2,824 Shares issued and Outstanding	3,095,600
Series B Preferred Stock
Preferred Stock Series A, 2,000 Shares Authorized of $0.001 Par, 2,000 Shares issued and Outstanding Preferred Stock Series B, 3,000 Shares Authorized of $0.001 Par, 2,824 Shares issued and Outstanding	$ 5,166,754