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Oil and Gas Costs

12 Months Ended

Mar. 31, 2014

10. Oil and Gas Costs

The costs related to the Company's oil and gas activities were incurred as follows for the year ended March 31:

	2014		2013		2012
Property acquisition costs:
Proved	$	785,144	$	20,542	$	368,444
Unproved		-		-		-
Exploration		9,641		15,715		9,910
Development		1,152,986		1,265,126		1,455,993
Capitalized asset retirement obligations		134,113		114,003		53,468
Total costs incurred for oil and gas properties	$	2,081,884	$	1,415,386	$	1,887,815

The Company had the following aggregate capitalized costs relating to its oil and gas property activities at March 31:

	2014		2013		2012
Proved oil and gas properties	$	35,386,751	$	34,138,841	$	31,669,572
Unproved oil and gas properties:
subject to amortization		73,990		170,487		170,487
not subject to amortization		-		-		-
		35,460,741		34,309,328		31,840,059
Less accumulated DD&A		18,395,619		17,249,803		16,154,203
	$	17,065,122	$	17,059,525	$	15,685,856

DD&A amounted to $2.18, $2.03 and $1.94 per mcfe of production for the years ended March 31, 2014, 2013 and 2012, respectively.

- Definition

Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities.

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