XML 30 R17.htm IDEA: XBRL DOCUMENT v3.2.0.727
11. Subsequent Events
3 Months Ended
Jun. 30, 2015
Subsequent Events [Abstract]  
Subsequent Events

11. Subsequent Events

  

On July 29, 2015, the Company assigned an independent operator a six month term leasehold interest in 320 net acres (640 gross acres) in Upton County, Texas in return for payment to Mexco of $350 per acre totaling $112,000. Mexco retained a 1% overriding royalty interest. The assignee has been granted the option to extend the term assignment for an additional three years at a price of $2,000 per acre for a total of $640,000.