Derivatives (Tables)

9 Months Ended

Dec. 31, 2013

Derivatives Tables

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

		Volume (bbls)	Fixed Swap Price
Production Period
	December 2013 – March 2015	8,000	$            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
		December 31,	March 31,
		2013	2013
	Current assets:  Derivative instruments	$                    -	$                 -
	Noncurrent assets:  Derivative instruments	-	$                 -
Total assets		$                    -	$                 -
	Current liabilities:  Derivative instruments	$           36,186	$                 -
	Noncurrent liabilities: Derivative instruments	1,837	$                 -
Total liabilities		$           38,023	$                 -

Loss on derivative instruments included in the consolidated statements of operations

	2013	2012
Unrealized loss on open non-hedge derivative instruments	$       (38,023)	$                   -
Loss on settlement of non-hedge derivative instruments	(41,261)	$                   -
Total loss on derivative instruments	$       (79,284)	$                   -