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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating revenues:    
Oil and gas $ 692,582 $ 1,006,656
Other 10,027 11,178
Total operating revenues 702,609 1,017,834
Operating expenses:    
Production 297,578 310,778
Accretion of asset retirement obligations 8,784 4,835
Depreciation, depletion, and amortization 417,982 300,815
General and administrative 413,746 350,337
Total operating expenses 1,138,090 966,765
Operating (loss) income (435,481) 51,069
Other income (expenses):    
Interest income 33 2
Interest expense $ (40,865) (15,770)
Loss on derivative instruments   (33,628)
Net other expense $ (40,832) (49,396)
(Loss) earnings before provision for income taxes $ (476,313) $ 1,673
Income tax benefit:    
Current    
Deferred $ (151,947) $ (17,381)
TOTAL (151,947) (17,381)
Net (loss) income $ (324,366) $ 19,054
(Loss) income per common share:    
Basic $ (.16) $ 0.01
Diluted $ (.16) $ 0.01
Weighted average common shares outstanding:    
Basic 2,037,266 2,038,266
Diluted 2,037,266 2,054,847