CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011	Dec. 31, 2010
OPERATING REVENUES:
Oil and gas sales	$ 459,299	$ 477,403	$ 942,005	$ 747,640
OPERATING COSTS AND EXPENSES:
Production and operating	293,465	334,193	602,662	717,757
Depreciation, depletion and accretion	92,435	104,199	198,850	180,504
General and administrative	847,673	625,813	2,515,208	2,946,240
Total operating costs and expenses	1,233,573	1,064,205	3,316,720	3,844,501
LOSS FROM OPERATIONS	(774,274)	(586,802)	(2,374,715)	(3,096,861)
OTHER INCOME (EXPENSE):
Gain on cancellation of indebtedness	0	0	0	34,860
Loss on sale of property and equipment	(5,070)	0	(13,016)	0
Interest income	0	10,778	196	31,117
Interest expense	(915,277)	(452,030)	(2,240,298)	(1,159,932)
Other	(60,673)	0	28,632	0
Change in value of warrant liability	1,620	937,171	34,396	2,550,434
Total other income (expense)	1,683,382	(79,431)	13,190,065	1,393,051
NET INCOME (LOSS)	909,108	(666,233)	10,815,350	(1,703,810)
BASIC EARNINGS PER COMMON SHARE
Net income (in dollars per share)	$ 0.03	$ (0.04)	$ 0.36	$ (0.10)
Weighted average number of shares outstanding (in shares)	31,990,066	17,577,055	29,713,188	17,269,460
DILUTED EARNINGS PER COMMON SHARE
Net income (in dollars per share)	$ 0.02	$ (0.04)	$ 0.20	$ (0.10)
Weighted average number of shares outstanding (in shares)	48,229,720	17,577,055	52,837,406	17,269,460
Iroquois [Member]
OTHER INCOME (EXPENSE):
Change in value of warrant liability	96,184	(968,299)	4,433,722	(1,196,503)
Change in value of derivative liability	1,022,321	392,949	4,262,320	1,133,075
ABG [Member]
OTHER INCOME (EXPENSE):
Change in value of warrant liability	$ 1,544,277	$ 0	$ 6,684,113	$ 0