Derivatives (Tables)

3 Months Ended

Jun. 30, 2013

Derivatives Tables

Schedule of open crude oil derivative positions with respect to future production

	Volume (bbls)		Fixed Swap Price
Production Period
June 2013 - March 2015		11,000	$	90.00

Net fair value of the Company’s derivative assets and liabilities and their locations on the consolidated balance sheet

	2013		2012
Current assets:  Derivative instruments	$	-	$	-
Noncurrent assets:  Derivative instruments		6,167	$	-
Total assets	$	6,167	$	-
Current liabilities:  Derivative instruments	$	27,224	$	-
Noncurrent liabilities: Derivative instruments		-	$	-
Total liabilities	$	27,224	$	-

Loss on derivative instruments included in the consolidated statements of operations

	2013			2012
Unrealized loss on open non-hedge derivative instruments	$	(21,057	)	$	-
Loss on settlement of non-hedge derivative instruments		(6,335	)	$	-
Total loss on derivative instruments	$	(27,392	)	$	-