Oil and Gas Reserve Data (Unaudited) (Tables)

12 Months Ended

Mar. 31, 2017

Extractive Industries [Abstract]

Schedule of Changes in Proved Reserves

Changes in Proved Reserves:

	Oil (Bbls)			Natural Gas (Mcf)
Proved Developed and Undeveloped Reserves:
As of April 1, 2014		502,000			6,259,000
Revision of previous estimates		(90,000	)		(665,000	)
Purchase of minerals in place		43,000			795,000
Extensions and discoveries		235,000			269,000
Sales of minerals in place		-			-
Production		(30,000	)		(369,000	)
As of March 31, 2015		660,000			6,289,000
Revision of previous estimates		(13,000	)		(736,000	)
Purchase of minerals in place		-			-
Extensions and discoveries		479,000			665,000
Sales of minerals in place		(3,000	)		(9,000	)
Production		(39,000	)		(408,000	)
As of March 31, 2016		1,084,000			5,801,000
Revision of previous estimates		205,000			946,000
Purchase of minerals in place		-			-
Extensions and discoveries		962,000			1,380,000
Sales of minerals in place		(92,000	)		(1,090,000	)
Production		(35,000	)		(356,000	)
As of March 31, 2017		2,124,000			6,681,000

Summary of Proved Developed and Undeveloped Reserves

Summary of Proved Developed and Undeveloped Reserves as of March 31, 2017, 2016 and 2015:

	Oil (Bbls)		Natural Gas (Mcf)
Proved Developed Reserves:
As of April 1, 2014		294,620		4,081,470
As of March 31, 2015		283,670		4,584,790
As of March 31, 2016		350,180		4,406,060
As of March 31, 2017		399,880		4,107,950
Proved Undeveloped Reserves:
As of April 1, 2014		206,930		2,177,810
As of March 31, 2015		376,070		1,703,790
As of March 31, 2016		734,170		1,395,220
As of March 31, 2017		1,724,420		2,572,960

Schedule of Progress of Converting Proved Undeveloped Reserves

The following table discloses the Company’s progress toward the conversion of PUDs during fiscal 2017.

Progress of Converting Proved Undeveloped Reserves:

	Oil & Natural Gas			Future
	(BOE)			Development Costs
PUDs, beginning of year		966,707		$	9,617,160
Revision of previous estimates		122,762			1,467,427
Sales of reserves		(82,318	)		(228,586	)
Conversions to PD reserves		(13,515	)		(284,067	)
Additional PUDs added		1,159,612			18,237,296
PUDs, end of year		2,153,248		$	28,809,230

Schedule of Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves

Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves:

	March 31
	2017			2016			2015
Future cash inflows	$	110,778,000		$	57,318,000		$	72,238,000
Future production costs and taxes		(27,267,000	)		(14,571,000	)		(19,569,000	)
Future development costs		(28,809,000	)		(9,617,000	)		(6,617,000	)
Future income taxes		(13,386,000	)		(4,569,000	)		(9,254,000	)
Future net cash flows		41,316,000			28,561,000			36,798,000
Annual 10% discount for estimated timing of cash flows		(22,233,000	)		(14,663,000	)		(17,860,000	)
Standardized measure of discounted future net cash flows	$	19,083,000		$	13,898,000		$	18,938,000

Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows to Proved Oil and Gas Reserves

Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves:

	March 31
	2017			2016			2015
Sales of oil and gas produced, net of production costs	$	(1,459,000	)	$	(1,240,000	)	$	(2,036,000	)
Net changes in price and production costs		1,849,000			(12,510,000	)		(4,066,000	)
Changes in previously estimated development costs		970,000			3,701,000			2,627,000
Revisions of quantity estimates		(404,000	)		(602,000	)		(3,718,000	)
Net change due to purchases and sales of minerals in place		(2,380,000	)		(105,000	)		2,777,000
Extensions and discoveries, less related costs		6,994,000			5,174,000			4,607,000
Net change in income taxes		(3,959,000	)		2,539,000			654,000
Accretion of discount		1,612,000			2,370,000			2,474,000
Changes in timing of estimated cash flows and other		1,962,000			(4,367,000	)		(3,710,000	)
Changes in standardized measure		5,185,000			(5,040,000	)		(391,000	)
Standardized measure, beginning of year		13,898,000			18,938,000			19,329,000
Standardized measure, end of year	$	19,083,000		$	13,898,000		$	18,938,000