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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Operating revenues:        
Oil and gas $ 781,426 $ 753,789 $ 2,139,609 $ 2,469,784
Other 9,178 3,771 21,717 12,631
Total operating revenues 790,604 757,560 2,161,326 2,482,415
Operating expenses:        
Production 325,712 233,317 796,074 697,548
Accretion of asset retirement obligations 9,680 9,297 28,822 27,033
Depreciation, depletion, and amortization 283,498 223,181 774,814 702,362
General and administrative 250,183 227,928 779,161 723,489
Total operating expenses 869,073 693,723 2,378,871 2,150,432
Operating (loss) income (78,469) 63,837 (217,545) 331,983
Other income (expenses):        
Interest income 2 47 132 141
Interest expense (13,078) (5,854) (34,704) (22,735)
Net other expense (13,076) (5,807) (34,572) (22,594)
(Loss) income before provision for income taxes (91,545) 58,030 (252,117) 309,389
Income tax (benefit) expense:        
Current    (4,858)    124,880
Deferred (51,965) 11,927 (150,083) (50,109)
TOTAL (51,965) 7,069 (150,083) 74,771
Net (loss) income $ (39,580) $ 50,961 $ (102,034) $ 234,618
(Loss) earnings per common share:        
Basic $ (0.02) $ 0.03 $ (0.05) $ 0.12
Diluted $ (0.02) $ 0.03 $ (0.05) $ 0.12
Weighted average common shares outstanding:        
Basic 2,036,938 2,026,011 2,036,277 2,028,626
Diluted 2,036,938 2,031,453 2,036,277 2,037,994