Oil and Gas Reserve Data (Tables)

12 Months Ended

Mar. 31, 2018

Extractive Industries [Abstract]

Schedule of Commodity Prices Utilized for Reserve Estimates the Prior to Adjustments

The following table summarizes the prices utilized in the reserve estimates for 2018 and 2017. Commodity prices utilized for the reserve estimates prior to adjustments for location, grade and quality are as follows:

	March 31,
	2018		2017
Prices utilized in the reserve estimates before adjustments:
Oil per Bbl	$	49.94	$	44.10
Natural gas per MMBtu	$	3.00	$	2.74

Schedule of Changes in Proved Reserves

Changes in Proved Reserves:

	Oil (Bbls)			Natural Gas (Mcf)
Proved Developed and Undeveloped Reserves:
As of April 1, 2016		1,084,000			5,801,000
Revision of previous estimates		205,000			946,000
Purchase of minerals in place		-			-
Extensions and discoveries		962,000			1,380,000
Sales of minerals in place		(92,000	)		(1,090,000	)
Production		(35,000	)		(356,000	)
As of March 31, 2017		2,124,000			6,681,000
Revision of previous estimates		(850,000	)		(915,000	)
Purchase of minerals in place		-			-
Extensions and discoveries		110,000			191,000
Sales of minerals in place		(152,000	)		(151,000	)
Production		(35,000	)		(319,000	)
As of March 31, 2018		1,197,000			5,487,000

Summary of Proved Developed and Undeveloped Reserves

Summary of Proved Developed and Undeveloped Reserves as of March 31, 2018 and 2017:

	Oil (Bbls)		Natural Gas (Mcf)
Proved Developed Reserves:
As of April 1, 2016		350,180		4,406,060
As of March 31, 2017		399,880		4,107,950
As of March 31, 2018		390,740		4,103,390
Proved Undeveloped Reserves:
As of April 1, 2016		734,170		1,395,220
As of March 31, 2017		1,724,420		2,572,960
As of March 31, 2018		805,980		1,383,120

Schedule of Progress of Converting Proved Undeveloped Reserves

Progress of Converting Proved Undeveloped Reserves:

	Oil & Natural Gas			Future
	(BOE)			Development Costs
PUDs, beginning of year		2,153,248		$	28,809,230
Revision of previous estimates		(998,890	)		(16,475,396	)
Sales of reserves		(159,759	)		(2,043,502	)
Conversions to PD reserves		(70,453	)		(445,406	)
Additional PUDs added		112,357			2,164,405
PUDs, end of year		1,036,503		$	12,009,331

Schedule of Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves

Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves:

	March 31
	2018			2017
Future cash inflows	$	77,221,000		$	110,778,000
Future production costs and taxes		(20,080,000	)		(27,267,000	)
Future development costs		(12,009,000	)		(28,809,000	)
Future income taxes		(6,413,000	)		(13,386,000	)
Future net cash flows		38,719,000			41,316,000
Annual 10% discount for estimated timing of cash flows		(19,843,000	)		(22,233,000	)
Standardized measure of discounted future net cash flows	$	18,876,000		$	19,083,000

Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows to Proved Oil and Gas Reserves

Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves:

	March 31
	2018			2017
Sales of oil and gas produced, net of production costs	$	(1,580,000	)	$	(1,459,000	)
Net changes in price and production costs		6,967,000			1,849,000
Changes in previously estimated development costs		16,196,000			970,000
Revisions of quantity estimates		(23,969,000	)		(404,000	)
Net change due to purchases and sales of minerals in place		(1,744,000	)		(2,380,000	)
Extensions and discoveries, less related costs		1,240,000			6,994,000
Net change in income taxes		3,057,000			(3,959,000	)
Accretion of discount		2,527,000			1,612,000
Changes in timing of estimated cash flows and other		(2,901,000	)		1,962,000
Changes in standardized measure		(207,000	)		5,185,000
Standardized measure, beginning of year		19,083,000			13,898,000
Standardized measure, end of year	$	18,876,000		$	19,083,000