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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Operating revenues:        
Oil and gas $ 1,108,102 $ 734,313 $ 2,092,371 $ 1,358,183
Other 13,344 9,288 25,600 12,539
Total operating revenues 1,121,446 743,601 2,117,971 1,370,722
Operating expenses:        
Production 312,954 254,513 621,590 470,363
Accretion of asset retirement obligations 11,020 9,604 21,937 19,142
Depreciation, depletion, and amortization 298,489 259,780 593,522 491,316
General and administrative 286,615 236,708 598,085 528,977
Total operating expenses 909,078 760,605 1,835,134 1,509,798
Operating profit (loss) 212,368 (17,004) 282,837 (139,076)
Other income (expense):        
Interest income 105    107 130
Interest expense (18,202) (10,767) (38,332) (21,626)
Loss on derivative instruments (59,295)    (86,687)   
Net other expense (77,392) (10,767) (124,912) (21,496)
Earnings (loss) before provision for income taxes 134,976 (27,771) 157,925 (160,572)
Income tax expense (benefit):        
Current            
Deferred (59,075) (28,534) (52,257) (98,118)
TOTAL (59,075) (28,534) (52,257) (98,118)
Net income (loss) $ 194,051 $ 763 $ 210,182 $ (62,454)
Earnings (loss) per common share:        
Basic $ 0.10 $ 0.00 $ 0.10 $ (0.03)
Diluted $ 0.10 $ 0.00 $ 0.10 $ (0.03)
Weighted average common shares outstanding:        
Basic 2,036,866 2,035,949 2,036,866 2,035,949
Diluted 2,039,108 2,038,240 2,038,800 2,035,949