Derivatives (Tables)

6 Months Ended

Sep. 30, 2014

Derivatives Tables

Open crude oil derivative positions with respect to future production based on NYMEX WTI pricing

		Volume (bbls)		Fixed Swap Price
Production Period
	October 2014 – March 2015		3,000	$	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
		September 30,		March 31,
		2014		2014
	Current assets: Derivative instruments	$	3,010	$	-
	Noncurrent assets: Derivative instruments		-	$	7,239
Total assets		$	3,010	$	7,239
	Current liabilities: Derivative instruments	$	-	$	44,981
	Noncurrent liabilities: Derivative instruments		-	$	-
Total liabilities		$	-	$	44,981

Loss on derivative instruments included in the consolidated statements of operations

	Three Months Ended September 30						Six Months Ended September 30
	2014			2013			2014			2013
Unrealized gain (loss) on open non-hedge     derivative instruments	$	62,131		$	(35,559	)	$	47,991		$	(56,616	)
Loss on settlement of non-hedge derivative instruments		(10,751	)		(23,736	)		(30,240	)		(30,071	)
Total gain (loss) on derivative instruments	$	51,380		$	(59,295	)	$	17,751		$	(86,687	)