CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
OPERATING REVENUES:
Oil and gas sales	$ 322,997	$ 27,560
Total operating revenues	322,997	27,560
OPERATING COSTS AND EXPENSES:
Production and operating	234,194	169,991
Depreciation, depletion and accretion	64,481	14,031
General and administrative	863,252	1,602,928
Total operating costs and expenses	1,161,927	1,786,950
LOSS FROM OPERATIONS	(838,930)	(1,759,390)
OTHER INCOME (EXPENSE):
Gain on cancellation of indebtedness	0	34,860
Loss on sale of property and equipment	(7,946)	0
Interest income	33	9,858
Interest expense	(625,745)	(340,346)
Other	89,305	0
Change in value of warrant liability	32,074	1,805,040
Total other income	2,107,801	3,609,759
NET INCOME	1,268,871	1,850,369
BASIC EARNINGS PER COMMON SHARE
Net income (in dollars per share)	$ 0.05	$ 0.11
Weighted average number of shares outstanding (in shares)	25,996,586	16,959,035
DILUTED EARNINGS PER COMMON SHARE
Net income (in dollars per share)	$ 0.02	$ 0.06
Weighted average number of shares outstanding (in shares)	52,894,571	30,894,830
Iroquois [Member]
OTHER INCOME (EXPENSE):
Change in value of warrant liability	366,581	934,349
Change in value of derivative liability	710,881	1,165,997
ABG [Member]
OTHER INCOME (EXPENSE):
Change in value of warrant liability	$ 1,542,618	$ 0