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Oil and Natural Gas Costs
 12 Months Ended
Mar. 31, 2020
Extractive Industries [Abstract]  
Oil and Natural Gas Costs

9. Oil and Natural Gas Costs

 

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

 

    2020     2019  
Property acquisition costs:                
Proved   $ -     $ -  
Unproved     -       -  
Exploration     168       14,555  
Development     1,687,499       803,602  
Capitalized asset retirement obligations     19,512       8,658  
Total costs incurred for oil and gas properties   $ 1,707,179     $ 826,815  

  

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

 

    2020     2019  
Proved oil and gas properties   $ 37,465,172     $ 35,907,677  
Unproved oil and gas properties:                
subject to amortization     -       -  
not subject to amortization     -       -  
      37,465,172       35,907,677  
Less accumulated DD&A     28,003,961       27,154,343  
    $ 9,461,211     $ 8,753,334  

 

DD&A amounted to $9.57 and $9.45 per BOE of production for the years ended March 31, 2020 and 2019, respectively.