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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net loss $ (691,099) $ (3,546,209)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Deferred income tax benefit (660,870)
Stock-based compensation 42,424 95,770
Depreciation, depletion and amortization 879,637 1,244,617
Accretion of asset retirement obligations 26,939 26,394
Impairment of oil and gas properties 2,984,410
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable (65,801) 162,467
Decrease in prepaid expenses 33,649 30,745
Increase in non-current assets (25,219)
(Decrease) increase in accounts payable and accrued expenses (103,500) 27,855
Net cash provided by operating activities 97,030 365,179
Cash flows from investing activities:    
Additions to oil and gas properties (517,454) (1,083,698)
Additions to other property and equipment (693)
Settlement of asset retirement obligations (93,630) (23,812)
Drilling refunds 75,808
Proceeds from sale of oil and gas properties and equipment 2,975,091 782,363
Net cash provided by (used in) investing activities 2,439,815 (325,840)
Cash flows from financing activities:    
Reduction of long-term debt (2,510,000) (500,000)
Proceeds from long-term debt 400,000
Net cash used in financing activities (2,510,000) (100,000)
Net increase (decrease) in cash and cash equivalents 26,845 (60,661)
Cash and cash equivalents at beginning of period 34,013 96,084
Cash and cash equivalents at end of period 60,858 35,423
Supplemental disclosure of cash flow information:    
Cash paid for interest 126,593 126,555
Non-cash investing and financing activities:    
Asset retirement obligations $ 5,247 $ 5,097