CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2012	Mar. 31, 2011
ASSETS
Cash and cash equivalents	$ 498,681	$ 179,071
Accounts receivable:
Oil and gas sales	333,191	384,215
Trade	30,404	42,432
Related parties
Prepaid costs and expenses	16,782	64,479
Total current assets	879,058	670,197
Property and equipment, at cost
Oil and gas properties, using the full cost method	31,840,059	30,426,817
Other	78,520	78,520
TOTAL	31,918,579	30,505,337
Less accumulated depreciation, depletion and amortization	16,223,267	15,227,063
Property and equipment, net	15,695,312	15,278,274
TOTAL	16,574,370	15,948,471
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	402,098	199,944
Long-term debt	1,700,000	1,800,000
Asset retirement obligations	613,279	528,911
Deferred income tax liabilities	884,703	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; 2,099,116 and 2,089,116 shares issued; 2,035,949 and 2,029,949 shares outstanding as of March 31, 2012 and 2011, respectively	1,049,558	1,044,558
Additional paid-in capital	6,608,350	6,453,226
Retained earnings	5,641,827	5,311,834
Treasury stock, at cost (63,167 and 59,167 shares, respectively)	(325,445)	(302,665)
Total stockholders' equity	12,974,290	12,506,953
TOTAL	$ 16,574,370	$ 15,948,471