Oil and Gas Costs

12 Months Ended

Mar. 31, 2012

Notes to Financial Statements [Abstract]

9. Oil and Gas Costs

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

	2012		2011		2010
Property acquisition costs:
Proved	$	368,444	$	2,147,892	$	80,154
Unproved		-		-		-
Exploration		9,910		29,292		22,246
Development		1,455,993		394,381		596,660
Capitalized asset retirement obligations		53,468		25,043		20,599
Total costs incurred for oil and gas properties	$	1,887,815	$	2,596,608	$	719,659

We had the following aggregate capitalized costs relating to our oil and gas property activities at March 31:

	2012		2011		2010
Proved oil and gas properties	$	31,669,572	$	30,256,330	$	27,182,529
Unproved oil and gas properties:
subject to amortization		170,487		170,487		170,487
not subject to amortization		-		-		-
		31,840,059		30,426,817		27,353,016
Less accumulated DD&A		16,154,203		15,161,524		14,119,129
	$	15,685,856	$	15,265,293	$	13,233,887

DD&A amounted to $1.94, $1.87 and $1.70 per mcfe of production for the years ended March 31, 2012, 2011 and 2010, respectively.