Oil and Gas Costs

12 Months Ended

Mar. 31, 2018

Extractive Industries [Abstract]

Oil and Gas Costs

9. Oil and Gas Costs

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

	2018		2017
Property acquisition costs:
Proved	$	-	$	-
Unproved		-		-
Exploration		-		-
Development		1,099,051		731,400
Capitalized asset retirement obligations		6,689		8,753
Total costs incurred for oil and gas properties	$	1,105,740	$	740,153

The Company had the following aggregate capitalized costs relating to its oil and gas property activities at March 31:

	2018		2017
Proved oil and gas properties	$	35,224,784	$	37,640,096
Unproved oil and gas properties:
subject to amortization		-		-
not subject to amortization		-		-
		35,224,784		37,640,096
Less accumulated DD&A		26,355,604		25,479,335
	$	8,896,180	$	12,160,761

DD&A amounted to $10.02 and $12.47 per BOE of production for the years ended March 31, 2018 and 2017, respectively.