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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Operating revenues:        
Oil and gas $ 948,633 $ 781,426 $ 3,041,004 $ 2,139,609
Other 13,393 9,178 38,993 21,717
Total operating revenues 962,026 790,604 3,079,997 2,161,326
Operating expenses:        
Production 291,828 325,712 913,418 796,074
Accretion of asset retirement obligations 11,074 9,680 33,011 28,822
Depreciation, depletion, and amortization 277,557 283,498 871,079 774,814
General and administrative 275,489 250,183 873,573 779,161
Total operating expenses 855,948 869,073 2,691,081 2,378,871
Operating income (loss) 106,078 (78,469) 388,916 (217,545)
Other income (expenses):        
Interest income 4 2 111 132
Interest expense (15,353) (13,078) (53,685) (34,704)
Gain (loss) on derivative instruments 7,404    (79,284)   
Net other expense (7,945) (13,076) (132,858) (34,572)
Earnings (loss) before provision for income taxes 98,133 (91,545) 256,058 (252,117)
Income tax expense (benefit):        
Current            
Deferred 9,474 (51,965) (42,783) (150,083)
TOTAL 9,474 (51,965) (42,783) (150,083)
Net income (loss) $ 88,659 $ (39,580) $ 298,841 $ (102,034)
Earnings (loss) per common share:        
Basic $ 0.04 $ (0.02) $ 0.15 $ (0.05)
Diluted $ 0.04 $ (0.02) $ 0.15 $ (0.05)
Weighted average common shares outstanding:        
Basic 2,036,866 2,036,938 2,036,866 2,036,277
Diluted 2,043,372 2,036,938 2,040,324 2,036,277