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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
6 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income (loss) $ 210,182 $ (62,454)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Deferred income tax benefit (52,257) (98,118)
Stock-based compensation 82,238 84,808
Depreciation, depletion and amortization 593,522 491,316
Accretion of asset retirement obligations 21,937 19,142
Change in fair value of derivative instruments 86,687   
Other (2,071)   
Changes in assets and liabilities:    
Increase in accounts receivable (164,002) (15,040)
Increase in prepaid expenses (53,728) (49,039)
Decrease in non-current assets 63,017   
Increase in accounts payable and accrued expenses 69,511 17,675
Net cash provided by operating activities 855,036 388,290
Cash flows from investing activities:    
Additions to oil and gas properties (786,097) (852,390)
Additions to other property and equipment (931) (13,806)
Settlement of derivatives (30,071)   
Proceeds from sale of oil and gas properties and equipment 743,287   
Net cash used in investing activities (73,812) (866,196)
Cash flows from financing activities:    
Reduction of long-term debt (725,000) (225,000)
Proceeds from long-term debt    300,000
Net cash provided by (used in) financing activities (725,000) 75,000
Net decrease in cash and cash equivalents 56,224 (402,906)
Cash and cash equivalents at beginning of period 166,406 498,681
Cash and cash equivalents at end of period 222,630 95,775
Supplemental disclosure of cash flow information:    
Cash paid for interest 39,424 19,839
Income taxes paid      
Non-cash investing and financing activities:    
Asset retirement obligations $ 10,672 $ 18,437