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CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2012
Mar. 31, 2012
ASSETS    
Cash and cash equivalents $ 53,655 $ 498,681
Accounts receivable:    
Oil and gas sales 277,879 333,191
Trade 12,146 30,404
Prepaid costs and expenses 51,719 16,782
Total current assets 395,399 879,058
Property and equipment, at cost    
Oil and gas properties, using the full cost method 32,181,239 31,840,059
Other 81,969 78,520
TOTAL 32,263,208 31,918,579
Less accumulated depreciation, depletion and amortization 16,454,803 16,223,267
Property and equipment, net 15,808,405 15,695,312
TOTAL 16,203,804 16,574,370
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable and accrued expenses 320,276 402,098
Long-term debt 1,475,000 1,700,000
Asset retirement obligations 638,557 613,279
Deferred income tax liabilities 815,119 884,703
Stockholders' equity    
Preferred stock - $1.00 par value; 10,000,000 shares authorized; none outstanding      
Common stock - $0.50 par value; 40,000,000 shares authorized; 2,099,116 shares issued and 2,035,949 shares outstanding as of June 30, 2012 and March 31, 2012 1,049,558 1,049,558
Additional paid-in capital 6,652,129 6,608,350
Retained earnings 5,578,610 5,641,827
Treasury stock, at cost (63,167 shares) (325,445) (325,445)
Total stockholders' equity 12,954,852 12,974,290
TOTAL $ 16,203,804 $ 16,574,370