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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
6 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net income$ 183,657$ 75,816
Adjustments to reconcile net income to net cash provided by operating activities:  
Deferred income tax benefit(62,036)(100,160)
Excess tax benefit from share based payment arrangement(129,738)(33,998)
Stock-based compensation49,38417,422
Depreciation, depletion and amortization479,180519,186
Accretion of asset retirement obligations17,73616,974
Changes in assets and liabilities:  
Decrease in accounts receivable19,083178,513
Increase in prepaid expenses(85,464)(94,310)
Increase in income tax payable129,73833,998
Increase (decrease) in accounts payable and accrued expenses34,700(15,574)
Net cash provided by operating activities636,240597,867
Cash flows from investing activities:  
Additions to oil and gas properties(291,248)(1,631,713)
Acquisition of business (478,000)
Additions to other property and equipment (2,359)
Proceeds from sale of oil and gas properties and equipment462,6081,653
Net cash provided by (used in) investing activities171,360(2,110,419)
Cash flows from financing activities:  
Proceeds from exercise of stock options 10,875
Acquisition of treasury stock(11,980) 
Reduction of long-term debt(1,025,000)(445,000)
Proceeds from long-term debt 1,895,000
Excess tax benefit from share based payment arrangement129,73833,998
Net cash used in financing activities(907,242)1,494,873
Net decrease in cash and cash equivalents(99,642)(17,679)
Cash and cash equivalents at beginning of period179,071160,439
Cash and cash equivalents at end of period79,429142,760
Supplemental disclosure of cash flow information:  
Cash paid for interest17,4928,764
Income taxes paid  
Non-cash investing and financing activities:  
Asset retirement obligations5,1568,064
Issuance of common stock in exchange for oil and gas properties 164,756
Acquisition of Southwest Texas Disposal Corporation resulting in the assumption of liabilities as follows:  
Fair value of assets 487,868
Cash paid 478,000
Liabilities assumed $ 9,868