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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net income (loss) $ 23,375 $ (585,950)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Stock-based compensation 14,552 17,265
Depreciation, depletion and amortization 617,864 844,566
Accretion of asset retirement obligations 16,870 25,196
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 476,505 (235,244)
Decrease in prepaid expenses 26,236 17,543
Increase in other noncurrent assets (4,729)
(Decrease) increase in accounts payable and accrued expenses (347,945) 77,024
Settlement of asset retirement obligations (2,227) (7,264)
Net cash provided by operating activities 820,501 153,136
Cash flows from investing activities:    
Additions to oil and gas properties (632,033) (802,184)
Drilling refunds 74,744
Proceeds from sale of oil and gas properties and equipment 111,226 2,548,135
Net cash (used in) provided by investing activities (520,807) 1,820,695
Cash flows from financing activities:    
Proceeds from exercise of stock options 18,241
Debt issuance costs (5,000)
Reduction of long-term debt (700,000) (1,950,000)
Net cash used in financing activities (686,759) (1,950,000)
Net (decrease) increase in cash and cash equivalents (387,065) 23,831
Cash and cash equivalents at beginning of period 492,610 73,451
Cash and cash equivalents at end of period 105,545 97,282
Supplemental disclosure of cash flow information:    
Cash paid for interest 21,120 81,415
Non-cash investing and financing activities:    
Asset retirement obligations $ 5,092 $ 6,356