Oil and Gas Costs (Tables)

12 Months Ended

Mar. 31, 2017

Extractive Industries [Abstract]

Schedule of Cost Related to Oil and Gas Activities

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

	2017		2016		2015
Property acquisition costs:
Proved	$	-	$	-	$	3,108,040
Unproved		-		-		-
Exploration		-		-		15,472
Development		731,400		1,112,733		1,746,582
Capitalized asset retirement obligations		8,753		5,844		274,148
Total costs incurred for oil and gas properties	$	740,153	$	1,118,577	$	5,144,242

Schedule of Aggregate Capitalized Costs Relating Oil and Gas Property Activities

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

	2017		2016		2015
Proved oil and gas properties	$	37,640,096	$	40,365,197	$	40,489,453
Unproved oil and gas properties:
subject to amortization		-		-		73,990
not subject to amortization		-		-		-
		37,640,096		40,365,197		40,563,443
Less accumulated DD&A		25,479,335		24,306,770		19,752,994
	$	12,160,761	$	16,058,427	$	20,810,449