CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2011	Mar. 31, 2011
ASSETS
Cash and cash equivalents	$ 75,170	$ 179,071
Accounts receivable:
Oil and gas sales	383,880	384,215
Trade	23,587	42,432
Related parties
Prepaid costs and expenses	61,328	64,479
Total current assets	543,965	670,197
Property and equipment, at cost
Oil and gas properties, using the full cost method	30,588,638	30,426,817
Other	78,520	78,520
TOTAL	30,667,158	30,505,337
Less accumulated depreciation, depletion and amortization	15,929,424	15,227,063
Property and equipment, net	14,737,734	15,278,274
TOTAL	15,281,699	15,948,471
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	181,121	199,944
Long-term debt	750,000	1,800,000
Asset retirement obligations	567,592	528,911
Deferred income tax liabilities	862,554	912,663
Stockholders' equity
Preferred stock - $1.00 par value; 10,000,000 shares authorized; none outstanding
Common stock - $0.50 par value; 40,000,000 shares authorized; 2,089,116 shares issued; 2,025,949 and 2,029,949 shares outstanding as of December 31, 2011 and March 31, 2011, respectively	1,044,558	1,044,558
Additional paid-in capital	6,654,867	6,453,226
Retained earnings	5,546,452	5,311,834
Treasury stock, at cost - 63,167 and 59,167 shares as of December 31, 2011 and March 31, 2011, respectively	(325,445)	(302,665)
Total stockholders' equity	12,920,432	12,506,953
TOTAL	$ 15,281,699	$ 15,948,471