Derivatives (Tables)

6 Months Ended

Sep. 30, 2013

Derivatives Tables

Schedule of open crude oil derivative positions with respect to future production

	Volume (bbls)		Fixed Swap Price
Production Period
September 2013 – March 2015		9,500	$	90.00

Net fair value of the Company’s derivative assets and liabilities and their locations on the consolidated balance sheet

	As of		As of
	September 30,		March 31,
	2013		2013
Current assets:  Derivative instruments	$	-	$	-
Noncurrent assets:  Derivative instruments		-	$	-
Total assets	$	-	$	-
Current liabilities:  Derivative instruments	$	50,300	$	-
Noncurrent liabilities: Derivative instruments		6,316	$	-
Total liabilities	$	56,616	$	-

Loss on derivative instruments included in the consolidated statements of operations

	2013			2012
Unrealized loss on open non-hedge derivative instruments	$	(56,616	)	$	-
Loss on settlement of non-hedge derivative instruments		(30,071	)	$	-
Total loss on derivative instruments	$	(86,687	)	$	-